Buying Flat (1st time buyer) Auctioneers

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Flowerhat

Senior Member
Joined
Sep 4, 2011
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Location
Pretoria
Hello,

I am busy negotiating to buy a flat that was recently bought at an auction.

The person selling the house has barely had possession of the house for 1 month after auction.

He says he had paid the previous owners outstanding municipal debts etc.

What is the correct process to follow when buying such a house. Where do I check if there is outstanding amounts on the house, and what is the correct documents I should have when applying for a home loan.

Thanks
 
Also make sure the previous owners/occupants (before the auction) are already out of the flat if you plan on living there yourself. It sounds strange to me that he has only had possession for one month. Transfers normally take much longer than that, unless he is already living there himself and paying occupational rent? Or are you aiming for a back-to-back transfer i.e. they transfer it to his name and then directly to yours?
 
I dont know if the house is in his name yet, if not is it still possible for him to transfer the house to my name ?

What documents is necessary to ensure that he has the rights to transfer the property to my name?

Thanks for any replies..
 
He probably bought the place for a steal at the auction and is selling immediately at a higher price. If that is the case, then he probably does this often.

You can look up the previous selling price with the deeds office if you want to get some bargaining power. You can just ask the seller for the latest municipal statements
 
Dont this property have estate agency to help you? I guess he is private owner?

Get yourself a lawyer to sort it out for you.
 
I don't want to involve an estate agent if not necessary.

Going to find a lawyer then and ask for the municipal records.

Thanks for your help
 
Flowerhat said:
Hello,

I am busy negotiating to buy a flat that was recently bought at an auction.

The person selling the house has barely had possession of the house for 1 month after auction.

He says he had paid the previous owners outstanding municipal debts etc.

What is the correct process to follow when buying such a house. Where do I check if there is outstanding amounts on the house, and what is the correct documents I should have when applying for a home loan.

Thanks
Click to expand...

FICA docs for the home loan. The Conveyancers (Attorneys) that you'll be paying to transfer the property will(should) check the property for any outstanding bills during the sales process and halt if any are found. A bud of mine's firm does this,got contact details if you need
 
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