House sale concerns

As it stands I'm only working with the transfering attorney now.

Agency will no longer communicate apart from through him.

Choices were simple, either cancel sale or go ahead on my terms which moved occupancy back to registration.

Addendum to this effect has been drafted, purchaser to sign. No confirmation as yet though on if the purchaser has met/is meeting the other conditions.
 
Oh, occupational rent was also due today, no notification of it being transfered as yet.
 
So attorney seems to be trying to get this done as quickly as possible. Transfer docs are ready for signing, a guarantee is now in place for a portion of the deposit. Balance was to be transferred this afternoon. Confirmation will be given on monday
 
Arzy said:
So attorney seems to be trying to get this done as quickly as possible. Transfer docs are ready for signing, a guarantee is now in place for a portion of the deposit. Balance was to be transferred this afternoon. Confirmation will be given on monday
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Of course, preaching to the converted here but I honestly wouldn't sign diddly squat until ALL the money is available. Not guarantee's on its availability or anything of the sort. Money must be available to be transferred to you as soon as you sign the papers.
 
ToxicBunny said:
Of course, preaching to the converted here but I honestly wouldn't sign diddly squat until ALL the money is available. Not guarantee's on its availability or anything of the sort. Money must be available to be transferred to you as soon as you sign the papers.
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Yep, feeling very much the same, thus moving the occupation date to registration of transfer.

Not signing transfer docs until transferring attorney confirms in writing that all is good.
 
So as expected purchaser once again didn't make transfer as required per the agreement. Having the transfering attorneys issue a breach letter now.
 
Arzy said:
So as expected purchaser once again didn't make transfer as required per the agreement. Having the transfering attorneys issue a breach letter now.
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Good thing you stuck to your guns on this one...

Though does this "breach letter" mean the sale is cancelled or is it giving the purchaser a bit of extra time now?
 
ToxicBunny said:
Good thing you stuck to your guns on this one...

Though does this "breach letter" mean the sale is cancelled or is it giving the purchaser a bit of extra time now?
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In terms of the OTP when either party does not adhere to the terms of the agreement you have to place them in breach in writing. This gives them 7 days to fix the issue after which the agreement is cancelled if they don't perform at which point damages can be claimed.
 
So transfering attorney is a bit confused, purchaser sent through proof of payments for the balance of the deposit yesterday being done in 2 transfer. Only one is reflecting in their account...
 
Guess they will have to wait a day to see if the other payment comes through... Otherwise, maybe they faked the proof of payment.

Were the proof of payments from two different bank accounts?
 
Arzy said:
So transfering attorney is a bit confused, purchaser sent through proof of payments for the balance of the deposit yesterday being done in 2 transfer. Only one is reflecting in their account...
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Just tell him to wait until the money clears, finish and klaar...
 
RustyPrincess said:
Guess they will have to wait a day to see if the other payment comes through... Otherwise, maybe they faked the proof of payment.

Were the proof of payments from two different bank accounts?
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2 different banks, not too concerned, just another annoyance.
 
Wow this is dodge. Which area is your house if you don't mind my asking?

I wouldn't be surprised if this buyer and the agents are somehow affiliated.
 
Gnome said:
Wow this is dodge. Which area is your house if you don't mind my asking?

I wouldn't be surprised if this buyer and the agents are somehow affiliated.
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Alberton area.

As it stands now though I haven't gotten confirmation that the second portion of the cash feposit has cleared, do have the signed addendum though that occupation is now only on actual registration.

So for now everything just carries on as per normal.
 
Arzy said:
Alberton area.

As it stands now though I haven't gotten confirmation that the second portion of the cash feposit has cleared, do have the signed addendum though that occupation is now only on actual registration.

So for now everything just carries on as per normal.
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You a braver person than me. I would have shut down the whole shebang from the beginning. Good luck though. I have had a couple of quirks with purchases and it always leaves a bad taste in the mouth. Especially when this should actually be an awesome occasion (moving into your new dream house)!
 
@Arzy. Just out of curiosity how big percentage wise was the deposit? And what was the occupational rent set at relative to the deposit?
 
Splinter said:
You a braver person than me. I would have shut down the whole shebang from the beginning. Good luck though. I have had a couple of quirks with purchases and it always leaves a bad taste in the mouth. Especially when this should actually be an awesome occasion (moving into your new dream house)!
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Thanks, at this point the most important base is covered in that the addendum is signed regarding occupation. This entails that we can be placed in breach of the agreement and forced to perform in respect of moving before everything is signed and sealed.

I'll be happy if everything falls in to place and we can move on. Dealing with estate agents though is always a curse.

This is our 3rd move in about 10 years and they never fail to surprise.
 
tRoN said:
@Arzy. Just out of curiosity how big percentage wise was the deposit? And what was the occupational rent set at relative to the deposit?
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Deposit was in the region of 20% and occupational rent set at 1% of total purchase price, no consideration for the deposit.

Banks didn't require an actual valuation to be done on the property and took their system estimate. I assume this is due to the large deposit.
 
That's 1% per month btw, 12% of total purchase price for a year.
 
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