Buying and selling property is a big deal, and things can go wrong in the blink of an eye unless both buyer and seller understand exactly what their sale agreement says, and then either meet all deadlines or extend them as set out in the agreement.

We discuss the dangers of not doing so with reference to a recent High Court decision in which a seller and buyer came to blows over the R600,000 deposit paid by the buyer to the estate agent involved. 

The buyer wanted his R600k back, the seller wanted it paid to him. The outcome of this dispute, and the Court’s reasoning in arriving at its decision, hold valuable lessons for us all.