VOETSTOOTS - What does this mean?

PUBLISHED 10 JAN 2018   

voetstoots” - What does it mean?

 

....that the buyer takes the property in its present condition as it is ??

This has often been used by sellers as a disclaimer to protect themselves against any claims from the buyer if a fault is found after signing the offer to purchase.

This term, however, is not to be abused as known defects by law need to be disclosed to all parties involved. Whether patent or latent, if the seller knows about them, he or she cannot use the "voetstoots" clause to protect themselves against repairing and/or disclosing them to the buyer. It is always recommended that buyers ask for a full condition report, as is prescribed by the Estate Agency Affairs Board (EAAB), listing the condition of certain key items on the property in question. If a full condition report is not available, the buyer could request that an inspection be carried out. While this would be at their expense, it would be worthwhile if there any questions that cannot be answered fully by the seller or their agent!

Sellers should be aware that a buyer can cancel the deal with no repercussions if it is found that the property had a defect that was known at the time of the sale and not disclosed. If the seller conceals something they know about with the aim of achieving a better price, the buyer is within their rights to cancel or sue for damages from the resulting deception.

When a buyer signs an offer to purchase, they act in good faith that the seller will not deceive them, and vice versa. It is with a mutual respect of honesty that a transaction should be entered into!