Offer to purchase question

beefymoocow said:
I can claim from my insurance company for my plumber. Since they replaced the geyser. The estate plumber hardly did any work. They just switched off the water. I didn’t even know about the estate plumber. Until now.

I had one line of communication. I can’t be aware if the tenant phoned the estate manager. But the thing is estate manager needs to confirm with the landlord. What’s stopping someone outside phoning an estate and pretending to be a resident of a estate.
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Step 1, get in contact with landlord.
Step 2, look if levies etc is up to date
Step 3, “get approval”

Saying that, is this a house in an estate or complex? Lanny estates only do security
 
zerocool2009 said:
Step 1, get in contact with landlord.
Step 2, look if levies etc is up to date
Step 3, “get approval”

Saying that, is this a house in an estate or complex? Lanny estates only do security
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Levies being up to date isn't relevant at all in this issue. I used to be chairman of the BC in my last place. Problems inside a unit were strictly the problem of the owner. If there was a tenant who approached me directly, I'd redirect.

Often I'd get the owners asking me to call the same plumber / electrician that the BC used, and I did it as a favour, but they were always responsible for the bill.

IMO if the BC has called a plumber without informing you first, then they're responsible for the call-out fee. Unless they couldn't get hold of you and whatever issue there was in danger of causing damage in other units, then it may be justifiable but it doesn't sound as though this is the case.
 
newby_investor said:
Levies being up to date isn't relevant at all in this issue. I used to be chairman of the BC in my last place. Problems inside a unit were strictly the problem of the owner. If there was a tenant who approached me directly, I'd redirect.

Often I'd get the owners asking me to call the same plumber / electrician that the BC used, and I did it as a favour, but they were always responsible for the bill.

IMO if the BC has called a plumber without informing you first, then they're responsible for the call-out fee. Unless they couldn't get hold of you and whatever issue there was in danger of causing damage in other units, then it may be justifiable but it doesn't sound as though this is the case.
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If the geyser is outside, its the BC issue. With levies not up to date, owners in arrears can pay excess in cash!
 
beefymoocow said:
I can claim from my insurance company for my plumber. Since they replaced the geyser. The estate plumber hardly did any work. They just switched off the water. I didn’t even know about the estate plumber. Until now.

I had one line of communication. I can’t be aware if the tenant phoned the estate manager. But the thing is estate manager needs to confirm with the landlord. What’s stopping someone outside phoning an estate and pretending to be a resident of a estate.
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Yea i think the plumber needs to invoice the estate manager or the tenant. It’s their separate agreement. I wasn’t party to it. So billing shouldn’t come to me.
 
Hi Guys,

Question, How long does it take for registration/transfer.

My bond was approved on Monday and I am signing transfer documents before end of this week

Thanks
 
marysms said:
Just out of curiosity if you put down an offer and you have been accepted as a back-up offer and the first offer has 30 days to get a bond, no automatic extension and on day 31 the first offer only has an Approval in Principal, No Valuation and no Bond.

What options do you have, if the agent is insisting on giving the first applicants an extension of a day or two is that legal, can I take legal action if I really want the property?
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APoc184 said:
Usually the option for extension is in the OTP and can be activated/requested when needed.

We actually did it when we put in our offer and due to backlogs the banks took a bit longer to respond and get back with quotes.
On advice from the guys here we requested a week's extension on getting our bond in place. It was granted by the agent and sellers. Turns out it was never needed because we got our preferred deal sorted with a day to spare. But we played it safe and were thankful for the option.

I don't think there is anything you can do except wait and see if the other party gets there bond sorted.
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marysms said:
Thank you for the feedback, I completely understand but I am just wandering, would it have been legal/ethical for the seller and agent to extend your contract if there was a back-up offer, an there are no provisions for contract extension in your OTP.
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@marysms, if I understand your situation correctly, you put in an offer (with too long a period set for the seller to accept), and were not accepted as buyer, but later you were accepted as a back-up if the seller's chosen buyer, let's call her Sarah, couldn't raise a bond. You've now been told that Sarah has approval, in principal, of the bond, and now you'd like to know whether you can somehow force the seller to sell to you, because Sarah is taking longer than 30 days to get the bond available.

As I see it, sellers can sell to whomsoever they choose. This seller received an OTP from you, and from Sarah, as two hopeful buyers. Sarah's OTP may or may not have been at the same conditions as yours. Your OTP may state "has 30 days to get a bond, no automatic extension", but Sarah's OTP may state something else. Even if the two OTPs are identical, the seller and Sarah can agree some new terms and, as long as they reduce them to writing and both sign them, those extra terms are valid. This would be so, too, were you and the seller to want to redefine some parts of the OTP.

Up until the point of an owner's finally accepting your OTP, the owner can still do whatsoever they like with their property, including changing their mind about selling it at all, or selling it to someone else for a higher, the same, or even a lower price. Yes, that's legal and fully within their rights. It really is this: by putting in an OTP, you bind yourself to the conditions of your OTP but since it is just an offer, you do not acquire any rights. Merely by receiving your OTP, the seller is not bound in any way at all.

The part that stings, emotionally, and which is, in my opinion, unethical, is when a seller or, more usually, an agent, has been stringing the hopeful purchaser along, for example by tell you that it looks like the seller is poised to accept the OTP any minute now... but it's really all just bla bla bla, to keep the buyer emotionally hooked into the deal, and available, should the seller not accept Sarah's OTP, or should Sarah's bond not be granted.

As to your question: "can I take legal action if I really want the property?", no, that's not realistic because, for the reasons set out above, there isn't actually anything you could be claiming, since all you have is your OTP, not more than that, no contract with the seller, and so the seller is still completely free to choose to sell to Sarah, or to anyone else.

Nor, indeed, is it advisable (in general, though there may be exceptions) to take legal action about property deals. If the deal isn't going smoothly to start with, that already has something to do with poor understanding between the seller, agent and potential buyer. For those same disagreeing people to land up in court, oh, no, that's going to take a very long time, and use up a great deal of energy and money, and will most likely achieve very little. In effect, by taking legal action, either
  • you'll get the property in the end, but it will cost you buckets more (legal fees, hours and hours' worth of paperwork, costs of delays such as temporary accommodation, etc.) than what you had initially planned to spend, and you may move in feeling bruised and with a bitter taste in your mouth, or
  • you won't get the property and you'll have lost not only your dream property but also your litigation fees, which makes you poorer before you try to look for the next property.
 
Dark Agent said:
Got a message my bond is lodge :). Nearly there.

Is there insurance that cover plumbing and stuff? I g2 live in a complex?
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Complex meaning an estate of free standing houses? Or a block of flats?

For flats, the building insurance that the BC gets needs to cover the geysers as far as I'm aware. Other plumbing issues are for the owner's account if they're internal.

Speak to your managing agent, who will be able to advise. That's the person who sends your levy account and AGM notices and stuff.
 
Gozado said:
@marysms, if I understand your situation correctly, you put in an offer (with too long a period set for the seller to accept), and were not accepted as buyer, but later you were accepted as a back-up if the seller's chosen buyer, let's call her Sarah, couldn't raise a bond. You've now been told that Sarah has approval, in principal, of the bond, and now you'd like to know whether you can somehow force the seller to sell to you, because Sarah is taking longer than 30 days to get the bond available.

As I see it, sellers can sell to whomsoever they choose. This seller received an OTP from you, and from Sarah, as two hopeful buyers. Sarah's OTP may or may not have been at the same conditions as yours. Your OTP may state "has 30 days to get a bond, no automatic extension", but Sarah's OTP may state something else. Even if the two OTPs are identical, the seller and Sarah can agree some new terms and, as long as they reduce them to writing and both sign them, those extra terms are valid. This would be so, too, were you and the seller to want to redefine some parts of the OTP.

Up until the point of an owner's finally accepting your OTP, the owner can still do whatsoever they like with their property, including changing their mind about selling it at all, or selling it to someone else for a higher, the same, or even a lower price. Yes, that's legal and fully within their rights. It really is this: by putting in an OTP, you bind yourself to the conditions of your OTP but since it is just an offer, you do not acquire any rights. Merely by receiving your OTP, the seller is not bound in any way at all.

The part that stings, emotionally, and which is, in my opinion, unethical, is when a seller or, more usually, an agent, has been stringing the hopeful purchaser along, for example by tell you that it looks like the seller is poised to accept the OTP any minute now... but it's really all just bla bla bla, to keep the buyer emotionally hooked into the deal, and available, should the seller not accept Sarah's OTP, or should Sarah's bond not be granted.

As to your question: "can I take legal action if I really want the property?", no, that's not realistic because, for the reasons set out above, there isn't actually anything you could be claiming, since all you have is your OTP, not more than that, no contract with the seller, and so the seller is still completely free to choose to sell to Sarah, or to anyone else.

Nor, indeed, is it advisable (in general, though there may be exceptions) to take legal action about property deals. If the deal isn't going smoothly to start with, that already has something to do with poor understanding between the seller, agent and potential buyer. For those same disagreeing people to land up in court, oh, no, that's going to take a very long time, and use up a great deal of energy and money, and will most likely achieve very little. In effect, by taking legal action, either
  • you'll get the property in the end, but it will cost you buckets more (legal fees, hours and hours' worth of paperwork, costs of delays such as temporary accommodation, etc.) than what you had initially planned to spend, and you may move in feeling bruised and with a bitter taste in your mouth, or
  • you won't get the property and you'll have lost not only your dream property but also your litigation fees, which makes you poorer before you try to look for the next property.
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Thank you for your feedback, I have walked away from this house.

I might not have been clear in my earlier posts. The Agent had infact mentioned that there was no automatic extension to the first offer getting a bond, I put in a clause that the seller cannot give any extension on the bond to the first buyer and they did confirm a date by which the first offer would expire should they be no bond - that date has since passed and the agent keeps on saying lets give the first offer another week to finalize their bond.

I just feel that the agent has not been forth coming, its just draining and I have invoked a clause I added to the OTP to give notice withdraw cancel the OTP as long the contract with the first seller has not been made null and void.
 
Our occupational rent has been paid and we're moving in on Friday. The levels of excitement is too much to handle and I think I should get some Nyquil just to be on the safe side.

The one attorney cocked up the paperwork so I need to to re-sign documents this week. This is not the same attorney who lost the subdivision plans a while back.

The only ones who haven't gotten into my bad books yet are the bond attorneys, although they did stop responding to my mails for two weeks because they forgot to set an OOO and automatic replies when my contact went on two weeks' leave.

Needless to say I cannot wait until this process is complete. It's been a complete disaster from the get go.
 
Jirre, reading the OP sounds so familiar. All worked out well in the end for me though, I had time to wait, and nobody else seemed to have.
 
ItherNiT said:
Lawyers just emailed to confirm we are on prep. Expecting registration tomorrow or Monday :D

I'm finally moving tomorrow, got keys 2/3 weeks ago, awesome sellers. They gave occupation with zero occupational rent.
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Just got the email from the lawyers, place is registered! :cool::) I'm finally a home owner :D
 
PhireSide said:
Our occupational rent has been paid and we're moving in on Friday. The levels of excitement is too much to handle and I think I should get some Nyquil just to be on the safe side.

The one attorney cocked up the paperwork so I need to to re-sign documents this week. This is not the same attorney who lost the subdivision plans a while back.

The only ones who haven't gotten into my bad books yet are the bond attorneys, although they did stop responding to my mails for two weeks because they forgot to set an OOO and automatic replies when my contact went on two weeks' leave.

Needless to say I cannot wait until this process is complete. It's been a complete disaster from the get go.
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It can be worse believe me.

In my last purchase,
The estate agent was fired.
The transfer attorney was fired
The seller moved overseas
The seller got divorced
The seller purposely botched the documents because she wanted to return to SA and wanted the house back and was hoping to frustrate the process
The seller didn't have updated plans and had to arrange an architect to draw up plans before the sale could go through
The seller was behind on everything, COJ, Eskom, HOA levies.

It took 1 year and 1 month to transfer.
 
Napalm2880 said:
It can be worse believe me.

In my last purchase,
The estate agent was fired.
The transfer attorney was fired
The seller moved overseas
The seller got divorced
The seller purposely botched the documents because she wanted to return to SA and wanted the house back and was hoping to frustrate the process
The seller didn't have updated plans and had to arrange an architect to draw up plans before the sale could go through
The seller was behind on everything, COJ, Eskom, HOA levies.

It took 1 year and 1 month to transfer.
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Was the wait and drama worth it?
 
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