Offer to purchase question

[Ziadhorat]

That and clearance charges are 2 different things

I didn't say it was the same, was just commenting on the last bit of his message. I think the only way for a buyer to be responsible is if it was specified in the OTP, otherwise I think its always the sellers responsibility. Anyways, mine for reference

 

[zerocool2009]

I didn't say it was the same, was just commenting on the last bit of his message. I think the only way for a buyer to be responsible is if it was specified in the OTP, otherwise I think its always the sellers responsibility. Anyways, mine for referenceView attachment 1079787

I was quoted to pay: my reply, how is this any interest of the buyer, as all accounts are on the sellers name.

Then the legal guys came with:”its in my best interest”! What utterly crap!

Bill the bloody seller! I must say, i havent seen a very honest legal firm or team in a long while, who’s interests include the buyers... as in look after them! Its always just money money money

 

[Mawirepower]

11/5/2021 - Nedbank came back with Prime less 0.49%. Still nothing from the other banks. Nedbank offer accepted!

Transfer documents signed and fees paid. Got a discount after ASKING! Looking at end of July for registration.

 

[Mojo32]

Credit score of 636 through clearscore. Is that good enough for my application to be successful?

 

[zerocool2009]

Credit score of 636 through clearscore. Is that good enough for my application to be successful?

That is only for section of many things to consider actually. Look at affordability also. What if interest rates jump 4%, what then, will you be able to afford it?

Add up up all the monthly costs projected :
Levies (if any)
Water and lights
Rates and taxes
Insurance
Security (ADT) if any

 

[Tman543]

View attachment 1079943
Transfer documents signed and fees paid. Got a discount after ASKING! Looking at end of July for registration.

No rates clearance fees? Is this property rates free? Did you ask to remove it?

 

[The_Mowgs]

Just a quick question. When buying a new property, do you pay transfer fees, bond registration fees etc from the proceeds of your house which you sold or do you need that money on hand?

 

[Tman543]

The varying prices in additional transfer/bond costs just proves attorneys fees are exorbitant for work that they are suppose to be carrying out anyway what does the transfer/bond fees pay for then? This whole process is a money making scheme at the end of the day.

 

[Forza]

No rates clearance fees? Is this property rates free? Did you ask to remove it?

My statement for transferring cost did not include the rate clearance fees. As indicated by others, this is the sellers expense and not purchaser. So ask the attorneys to remove and ask for a discount. I received a 15% discount which was bout R3.5k on the total statement,

 

[Gozado]

The varying prices in additional transfer/bond costs just proves attorneys fees are exorbitant for work that they are suppose to be carrying out anyway what does the transfer/bond fees pay for then? This whole process is a money making scheme at the end of the day.

Of coure it is for money-making. Attorneys want to earn their living. Many just do the same old conveyancing, over and over, probably well, and some unfortunately rip their clients off.

Here's quite a good outline of what the conveyancing attorneys actually do to earn their money. The kind of scrutiny of all the documents, and making sure any of the steps is not done before all the right paperwork has been completed, would not be possible, diy, for most buyers and sellers. https://www.ooba.co.za/resources/conveyancing-fees/

South Africa, for all its many deficits, does have a very well regulated and well executed property register, and the fact that things are required to be done so strictly actually prevents quite a lot of litigation and heartache. A buyer in South Africa will know, from the start, if there is, for example, a servitude on the property, whereas in some other countries this kind of thing causes endless disputes.

 

[zerocool2009]

Just a quick question. When buying a new property, do you pay transfer fees, bond registration fees etc from the proceeds of your house which you sold or do you need that money on hand?

No ... but you can specify that you are buying the NEXT house, on a condition that YOURS are sold TOO ! Then its a domino effect ! (So its important to have the CASH on hand or get a 105% bond (if you dont have an existing house to sell). Hope it makes sense

 

[Gtx Gaming]

Finally given up on FNB, told them get me another banker for 3rd time, but guess won't be time to sort out problem before I have to get the bond.

Applied online with absa, was approved within 5min, just waiting for final offer etc.

 

[pinball wizard]

Finally given up on FNB, told them get me another banker for 3th time, but guess won't be time to sort out problem before I have to get the bond.

Applied online with absa, was approved within 5min, just waiting for final offer etc.

1rd, 2th, 3th, 4rd?

Decolonised maths?

 

[Gtx Gaming]

1rd, 2th, 3th, 4rd?

Decolonised maths?

That's what fnb bankers mssed up my brain and blood pressure

 

[Gtx Gaming]

Stuff seems to be moving with ABSA, waiting them to email the actual offer through.

 

[zerocool2009]

Stuff seems to be moving with ABSA, waiting them to email the actual offer through.

Get ready to switch to absa

 

[Mawirepower]

No rates clearance fees? Is this property rates free? Did you ask to remove it?

Were never included!

 

[FluxZA]

And house registered today, Sellers not ready to move into their retirement place.
Started my annual leave today, so would have worked out perfectly,
instead I'm now going away for a few weeks.

Guess I have to hear from the lawyers, but would I need to now register with the municipality
or only when the sellers decide to move out?

 

[Mike Hoxbig]

And house registered today, Sellers not ready to move into their retirement place.
Started my annual leave today, so would have worked out perfectly,
instead I'm now going away for a few weeks.

Guess I have to hear from the lawyers, but would I need to now register with the municipality
or only when the sellers decide to move out?

You do everything as normal and get the attorneys to charge them occupational rent!

WhyTF would you agree to let them stay for free when the property is now yours?

 

[Steamy Tom]

And house registered today, Sellers not ready to move into their retirement place.
Started my annual leave today, so would have worked out perfectly,
instead I'm now going away for a few weeks.

Guess I have to hear from the lawyers, but would I need to now register with the municipality
or only when the sellers decide to move out?

your OTP should have covered this, occupational rent works both ways.