Holiday Purchase Agreement
This Holiday Purchase Agreement ("Agreement") is made between Cabana Mio Accommodation Company (Pty) Ltd, Registration number 2022/7556/07, located at 159 Beach Road, Amanzimtoti ("Seller"), and the Purchaser ("You").
1. Holiday Agreement Property
You are purchasing the right to occupy a flexi week at Cabana Mio in one of the 7 duplex chalets, featuring 3 bedrooms, a bathroom, a shower, 2 toilets, a kitchen, lounge, private braai area, outdoor shower, and parking facilities.
2. Purchase Price and Payment Options
- Once-off deposit: R12,700 (includes 1st year levy of R5,200, excludes R1,000 documentation fee)
- Balance of R90,375 can be paid:
- In monthly installments of R650 for 10 years (120 months)
- Annually, based on updated levy schedule (due each March)
- Once-off discounted total: R82,694 (8.5% discount)
3. Holiday Rights
You will enjoy holiday occupation for any available Flexi Week each year for 10 years. Booking is first-come, first-served. RCI members can space-bank their week for exchanges.
4. Annual Levy
After year one, levies are payable annually in March, not exceeding a 10% annual increase. VAT included where applicable.
5. Cancellation, Transfer, and Inheritance
- Cancel after 3 years with no penalties (no refund of levies paid)
- Cash buyers may cancel early with pro-rata refund minus 20% penalty
- You may will or sell the remaining agreement, subject to company consent
6. Seller Responsibilities
The Seller ensures all levies, maintenance, salaries, and operational costs are paid to maintain the property’s standard and value.
7. Agreement Duration
This agreement is valid for 10 years, starting on 1 March and ending the final day of February, 10 years later.
8. Entire Agreement
This document reflects the complete understanding between you and Cabana Mio Holidays.
Signatures
Seller: Cabana Mio Accommodation Company (Pty) Ltd
____________________ Date ____________
Purchaser: ___________________________
____________________ Date ____________
Payment Details
All payments must be made via EFT to:
Account Name: Cabana Mio Accommodation Company (Pty) Ltd
Bank: ABSA
Branch Code: 632005
Account Number: 4106 1924 96
Reference: Flexi week _______ Unit _______
Click below to download the full signed agreement PDF to return to management.