Well simply put the Voetstoots clause protects the seller from liability for any defects on the property, including latent defects. This is NOT the case when you as the seller know about a latent defect and you conceal or do not declare this to be the case.
Sellers are now legally bound to declare defects
The good news though is that the Seller Declaration and Property Condition report, now a legal requirement gives the seller every opportunity to declare the condition of the property that is being sold. Also, this gives the buyer and opportunity to really inspect the property and to have a very close look at the Seller Declaration and Property Condition Report. If you buy a home knowing the roof is leaking, number 1 you can budget for it and number 2 when you sign the Seller Declaration and Property Condition Report you sign and accept the current condition of the property you are buying.
What does Voetstoots mean as a Seller?
If you look up the word it means “as is”. Meaning you are buying the property you see, as is. If the roof is leaking, you declare it. In other words, if you declare that the roof is leaking you are doing just that. Declaring it. It does not mean that you have to fix it. It means that the buyer once you declare that the roof is leaking knows this and will have an opportunity none-the-less to buy the property as is with the leaking roof.
What does Voetstoots mean to the Buyer?
It means that once you sign the Seller Declaration and Property Condition report, and if you are and were aware at the time that the roof was leaking you have no complaint against the seller for the leaking roof. If the Seller concealed the leaking roof that’s another matter and that spells problems and potentially a liability for the Seller. My motto is always be completely honest, warts and all.
What is a Latent Defect?
It’s the opposite of a patent defect. Latent defects are the little things that you cannot see when you inspect a property. The Voetstoots clause protects the Seller from things that are unknown to them at the time of the sale. Things the Seller did not know. But if it turns out that the Seller did know about the Latent Defect this could and would lead to a case of fraud and the buyer would then be able to claim damages.
What about the Consumer Protection Act?
The CPA came into effect in April 2011 and has altered the way things are done. The Seller can no longer take comfort under the protection of the Vootstoets clause. The CPA effectively grants the buyer the right to receive goods that are of good quality, and suitable for the purpose for which they are generally intended. The Voetstoots clause is no longer something that a seller can hide behind. Everything pertaining to the condition of the property must now be declared and signed by both the seller and the buyer when you sell a property to avoid liability.
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Honestly, folks, the moral of the story when you sell a property is, to be honest. Bank on the Best when you sell with KW Select. We do sell properties faster and thanks to two magic ingredients which we call our globally acclaimed culture and also the superb technology that underpins what we do. We really do sell faster. Book your free property valuation today, click here. If you are still looking for your dream home or your next home, we are here to help. View our current properties on the market. Click here to view all the properties that KW Select has on the market – there really is something for everyone. Need to apply for finance because when you sell your home and plan to buy another you need to get a bond application going, KW Select can assist on this front too. Click here to get a home loan.
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