The clicktopurchase® platform provides for online execution by a variety of sales channels.
clicktopurchase® (private treaty)
clicktopurchase® private tender
clicktopurchase® (private treaty)
clicktopurchase® provides a Buyer with the ability to submit a binding offer which, if accepted by the agent on behalf of the Seller, will result in the formation of a contract and an electronic audit trail.
Should it be decided to progress with a sale by clicktopurchase® (private treaty), the agent and Seller may decide to offer you a short exclusivity period. Should you fail to exchange within the exclusivity period, you can still submit a clicktopurchase® offer later but you will no longer have exclusivity.
Contract amendments, if required, will be fast and easy by either amendments to the General Conditions of Sale and Particulars of Sale, or by way of an Addendum.
Typically, clicktopurchase® sales do not require any contract amendments.
A legal package is provided for each property. Here you will enable to review the base legal suite and the documents specific to the property in question. The default suite comprises:
The agent is responsible for collating the specific documents for the property, including the Particulars of Sale. clicktopurchase® is not responsible for the completion of the legal suite.
clicktopurchase® “private tender”
Should the agent wish to close a sale by setting a “private tender” deadline, you will need to submit your clicktopurchase® offer by the published time and date. Offers will not be capable of submission beyond the deadline.
Should it be agreed to sell by “traditional” (private treaty), the parties are able to use the contract suite for fast physical signature of the Agreement of Sale.
Contract amendments, if required, can be fast and easy by either amendments to the General Conditions of Sale, or by way of an Addendum.
Before a Bidder can submit a clicktopurchase® offer, they must first be verified to accord with identity and financial requirements.
A. Identity clearance
A Bidder will need to complete an online verification form.
During this process the Bidder will be asked to undertake Two Factor Authentication. Further information about this can be found here
By completing the online form, the Bidder will receive an email attaching two documents: (1) a "FICA Document Checklist" which advises the information to be provided to the Selling Agent to meet the identity requirements of the Financial Intelligence Centre Act ("FICA"); (2) a Power of Attorney which needs to be signed and returned to the Selling Agent to enable the Agent to sign the contract (Agreement of Sale) should an offer be submitted through clicktopurchase®.
The online verification form allows the Bidder to complete where the Buyer is either a Juristic Person or a Natural person.
Figure: The verification form for a juristic person
In the case of a Natural Person, the form will extend where the Buyer is married and In Community of Property.
Figure: The verification form for a natural person
Figure: The email showing that a verification form has been completed
When submitting the online verification form, the Bidder has the option to seek information to verify the identity of the Selling Agent and their authority to act on behalf of the Seller. Furthermore, the Bidder may seek identify information on the Seller. Should either of these options be selected, the Selling Agent will receive an appropriate notification and dispatch information accordingly through the platform.
B. Power of Attorney
During the verification process, a Bidder will receive an electronic Power of Attorney. This allows the Selling Agent to sign and execute the sale agreement (Agreement of Sale) once a binding clicktopurchase® has been submitted.
The Selling Agent is not able to verify the Bidder to be in a position to submit the clicktopurchase® offer until such time that the Power of Attorney has been signed, witnessed and returned by the Bidder.
Figure: The Power of Attorney
Should the Buyer be a natural person who is married and In Community of Property, the Power of Attorney will provide for both Buyers to sign the document.
If the agent has opted for an additional verification document, specific to a property, to form part of the verification process, this will also be distributed.
C. Financial Clearance
The agent may choose to undertake appropriate financial checks on the proposed Buyer. This may involve obtaining accounts, references or requesting bank statements. When the agent is satisfied with the verification information supplied, you will see on the screen that you are able to proceed.
The Bidder is easily able to see the status of their verification and when cleared to submit a clicktopurchase® offer.
Initial Deposit Option
clicktopurchase® provides the agent with the option to ask a particular Bidder to supply an "Initial Deposit" before being cleared to submit an offer. If the agent makes this selection, you will receive notification. The Bidder’s Initial Deposit is a payment to demonstrate commitment. It will count towards the purchase price should you be successful, or be returned in the event that the property is sold to another party.
Figure: Showing what the Bidder sees when an Initial Deposit is requested.
Figure: The Bidder confirming the Initial Deposit has been sent
Submitting your clicktopurchase® offer
During this process the Bidder will be asked to do Two Factor Authentication. Further information about this can be found here
This is how a Bidder makes a clicktopurchase® offer:
Figure: the make an offer form
When you submit your offer, an electronic draft Agreement of Sale is generated which contains the unique, hashed, digital signature of the Bidder submitted on behalf of the Buyer
Having your clicktopurchase® offer accepted
When a Bidder submits a clicktopurchase® offer on behalf of a Buyer (who may be the Bidder), an email is generated to all parties confirming the terms of the offer. The terms of the offer are also displayed in the Bidder’s My Account page
If the Seller instructs the agent to accept the offer, the following actions occur:
The Selling Agent physically signs the Agreement of Sale which has been generated when the Bidder submits their offer. A legal contract has been formed. This is uploaded by the Agent to the platform.
The Selling Agent then accepts the offer through clicktopurchase®. This generates an electronic form of the Agreement of Sale with digital signatures attached on behalf of both the Buyer and the Seller.
All parties receive confirmation and an electronic copy of the digitally signed Agreement of Sale and the physically signed version.
The property is marked as “Sold”
Figure: Email showing an offer has been accepted
Figure: Digitally signed Agreement of Sale
Having your clicktopurchase® offer rejected
A clicktopurchase® offer will expire if the Bid Expiry deadline passes.
In addition, the agent may choose to reject a live clicktopurchase® offer. You will receive email confirmation and a message will appear in your My Account.
Figure: Email showing a rejected offer
Participating in a clicktopurchase® Private Tender
If the agent has selected to close a sale by a clicktopurchase® Private Tender, this sales channel will be clearly displayed.
Figure: Showing a property which has a clicktopurchase® Private Tender sales channel
You will need to submit your offer before the deadline specified by the clicktopurchase® Private Tender.
Completion Conditionality Feature
We provide a feature which may provide a Buyer with the option to submit an unconditional clicktopurchase® offer, or one with completion conditional upon finance being available, or conditional upon due diligence. The Seller decides if they wish to provide clicktopurchase® Buyers with the ability to make a conditional offer.
Figure: The selected Condition when making an offer
This conditionality feature allows a bidder to submit an offer quickly. If the Buyer believes funds will be obtained to complete the purchase, by obtaining a loan or raising money elsewhere, perhaps by way of selling another property, why should the Seller agree an exclusivity with all the risk which this entails? Let the Buyer show true commitment.
Similarly, if a Seller is faced with an unconditional offer at say R1m and an offer with completion conditional upon finance at R1.1m, the Seller can make their choice. The ability to submit an offer with completion subject to due diligence is similarly designed to create a higher level of certainty and speed for both Buyer and Seller.
Completion Date Feature
clicktopurchase® provides a feature to allow flexibility on completion date when submitting a clicktopurchase® offer.
If the Seller wishes to allow the feature to be made available, you can submit an offer with a completion date which may vary from the preferred date proposed by the Seller. If the Seller is prepared to accept the offer with your proposed completion date, this forms a term of the legal contract.
If this feature is not made available, any offer will be on the basis of the completion date or period required by the Seller.
The transactional history can be viewed at any time by a Bidder in their My Account. This is accessible to them via the widget.
Figure: My Account, available in the widget
The clicktopurchase® Blockchain
The clicktopurchase® Blockchain records the entire audit trail of a transaction, providing the ultimate in transparency and trust when buying and selling property.
A detailed guide to the clicktopurchase® Blockchain can be viewed here.
Thanks to the clicktopurchase® Blockchain, no one can ever challenge an application for verification, submission of an offer, an exchange of a contract and when the offer was accepted. All actions are recorded and can be found in the Blockchain.
We provide absolute and total proof. This adds a layer of security and trust to our platform which is unavailable elsewhere.