Buying a house....

Daruk said:
That R2000 was for them to come to your house in their time with the documents for you to sign. You got suckered LOL.
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Both sets of lawyers want us to go to them between 8 and 4 weekdays, oh except Fri obviously, that's 8 and 2... Aside from the fact that the chances of me and the Mrs both being available at the same time during office hours is zilch, the sheer cheek of these people!

At least I'm forcing the bond attorney to go in on a Sat morning to sign... Yes I'm petty but fek 'em :)

The secretary of the transfer attorneys just called and I said no way are we going to be available, either come to us in the evening or we'll go on sat after the bond signing. Will see when they decide to grace us with their majestic presence....
 
Transfer attorneys didn't even bother with an appointment, just sent the docs through when we did the bond attorney on Sat. Seller signed on Tuesday. Was hoping they would send it in this week but I don't think they have the HOA and BC clearance certificates yet as they're still asking us to sign forms for them, so will likely only go into the deeds office next week, sigh...
 
ScottulusMaximus said:
Transfer attorneys didn't even bother with an appointment, just sent the docs through when we did the bond attorney on Sat. Seller signed on Tuesday. Was hoping they would send it in this week but I don't think they have the HOA and BC clearance certificates yet as they're still asking us to sign forms for them, so will likely only go into the deeds office next week, sigh...
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Oh there will be other excuses unfortunately
 
Just thought, I would add to this thread cause I just went through the process. Standard offered 80% at 1.01 below prime with an additional .20 if I open an account with them ..so 1.21 below prime. FNB offered 87% at 10.85% and will give me 0.5 if I use them as my main bank (I do). Still trying to figure out how to cut down on insane lawyers fees. Got a proforma from the transfer lawyers already, hoping they can do the bond portion aswell and reduce my fees by around 10k.
 
binloud said:
Just thought, I would add to this thread cause I just went through the process. Standard offered 80% at 1.01 below prime with an additional .20 if I open an account with them ..so 1.21 below prime. FNB offered 87% at 10.85% and will give me 0.5 if I use them as my main bank (I do). Still trying to figure out how to cut down on insane lawyers fees. Got a proforma from the transfer lawyers already, hoping they can do the bond portion aswell and reduce my fees by around 10k.
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With FNB ... you will pay roughly R7000 to get the bond (that's a fee on FNB's side).

Are you buying direct from a developer ? (as the SARS leg is big ... if the house / apartment isnt bought directly from an existing owner)
 
Also in the process of buying my first property, got feedback from three banks already and so far it's better than what I expected:

Std Bank - 9.945% (20 yrs)
Nedbank - 9.60% (20 yrs)
FNB - 10.40% (20 yrs) (and also, f**k you FNB!!)
ABSA - Still waiting, but don't have much hope they'll be able to match Nedbank. Will update once I have the approval doc.

As stated above, the attorney's are a bunch of *****, but unfortunately no way around the high fees except begging for a discount. Not looking forward to the next stage. Sigh...
 
werny said:
Also in the process of buying my first property, got feedback from three banks already and so far it's better than what I expected:

Std Bank - 9.945% (20 yrs)
Nedbank - 9.60% (20 yrs)
FNB - 10.40% (20 yrs) (and also, f**k you FNB!!)
ABSA - Still waiting, but don't have much hope they'll be able to match Nedbank. Will update once I have the approval doc.

As stated above, the attorney's are a bunch of *****, but unfortunately no way around the high fees except begging for a discount. Not looking forward to the next stage. Sigh...
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Did you go through a MO ?

I read on news24 that a MO would save you money (I was all laughs when I read that). Dont always believe what is read online.

GO DIRECT with any BANK's HL department !
 
zerocool2009 said:
With FNB ... you will pay roughly R7000 to get the bond (that's a fee on FNB's side).

Are you buying direct from a developer ? (as the SARS leg is big ... if the house / apartment isnt bought directly from an existing owner)
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No bought directly from a seller.
 
binloud said:
No bought directly from a seller.
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Ok, I assume then it isnt a "new house / developement".

I dont know what the purchase prices was, but SARS kicks in after the purchase price is larger than R900 000

Buying any property aint cheap (related to costs)
 
zerocool2009 said:
Did you go through a MO ?

I read on news24 that a MO would save you money (I was all laughs when I read that). Dont always believe what is read online.

GO DIRECT with any BANK's HL department !
Click to expand...

Did go via a Bond Originator yes (she works for herself) and I must say I'm impressed. I got pre-approval from all banks before I even signed the OTP and the interest rates they gave me was much higher than what the BO was able to get, Nedbank was initially 10.35%, but via the BO it's 9.60%....

I'm not saying that all Bond Originators are good, but there are certainly some out there that is very decent. I mean, the paperwork that I had to complete was so minimal and easy that I really can't see myself applying at each and every bank myself, it will drive me insane!
 
werny said:
Did go via a Bond Originator yes (she works for herself) and I must say I'm impressed. I got pre-approval from all banks before I even signed the OTP and the interest rates they gave me was much higher than what the BO was able to get, Nedbank was initially 10.35%, but via the BO it's 9.60%....

I'm not saying that all Bond Originators are good, but there are certainly some out there that is very decent. I mean, the paperwork that I had to complete was so minimal and easy that I really can't see myself applying at each and every bank myself, it will drive me insane!
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The banks pay the MO's also for new applications (and banks work that into their % offered to the client).

Well, I see what you are saying (I would say apply at 2 banks at most ... going private and test the waters)
 
werny said:
Did go via a Bond Originator yes (she works for herself) and I must say I'm impressed. I got pre-approval from all banks before I even signed the OTP and the interest rates they gave me was much higher than what the BO was able to get, Nedbank was initially 10.35%, but via the BO it's 9.60%....

I'm not saying that all Bond Originators are good, but there are certainly some out there that is very decent. I mean, the paperwork that I had to complete was so minimal and easy that I really can't see myself applying at each and every bank myself, it will drive me insane!
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Not alot of buyers knows this ... but if you apply directly via FNB homeloans (can you SCORE big time with ebucks).

The bank would either pay your banking costs / or 50% of your first debit order

My advice to anyone buying a house, JUST MAKE SURE YOU HAVE A FLEXI BOND !!!!!
 
zerocool2009 said:
The banks pay the MO's also for new applications (and banks work that into their % offered to the client).

Well, I see what you are saying (I would say apply at 2 banks at most ... going private and test the waters)
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Yup, if ABSA's (my bank) offer don't match Nedbank's then I'll definitely go in and query it, luckily I know someone at ABSA that might be able to assist me. It's either that or they lose me as a client and I move over to Nedbank, Nedbank will also lower the interest rate if I do that, will then be 9.40%.
 
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