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How long is an offer to purchase valid for in South Africa?

When the buyer signs the offer to purchase, they stipulate the deadline date for the seller to accept. If the seller hasn’t accepted by that date, the offer lapses.

If no date is stipulated, then the offer to purchase will be valid for what is termed a “reasonable period”, which in turn depends on the circumstances of the parties involved. It’s best for the buyer to avoid this kind of ambiguity by stipulating a due date.

Bear in mind the 72-hour clause, which if included in the offer to purchase, allows the seller to continue marketing the property. If they receive a better offer, they can activate the clause, which gives the buyer 72 hours to finalise their purchase of the property or have their offer rendered null and void, allowing the seller to accept the rival offer.

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