Offer to purchase question

[TechGirl04]

More issues with the house we were interested in popped up - I noticed that no water was being billed on the latest COJ account. I asked my friend who knows the ins and outs of COJ. She checked her account - no water has been billed since as far back as she could check (Aug 2019). There is a water meter on the property and it accumulates (I checked this when we viewed after I noticed no water billed - thought the meter might be faulty or not accumulating). So chances are the water meter number was never linked to their account when they purchased the house in 2006....ouch....

 

[APoc184]

I'm sure those carpets has grown on you by now. Keep them. Congrats.

Norrefok...

Took me two hours tonight but the main bedroom carpet is gone!

This weekend we tile!

 

[APoc184]

Congratulations man, been 7 months since we've singed OTP...and been paying occupational rent for 4 of those 7 months

10 months since OTP signed here as well, and 6 months of occ rent. I feel your pain

Hang in there guys... Your day is coming and we will all be ecstatic for you.

We also thought this day would never come.

8 and half months of occupational rent on our side. Almost a year since signing OTP.

I think the estate agent looted a bottle store tonight to celebrate. He was even more gatvol than us about all the delays.

 

[PhireSide]

Hang in there guys... Your day is coming and we will all be ecstatic for you.

We also thought this day would never come.

8 and half months of occupational rent on our side. Almost a year since signing OTP.

I think the estate agent looted a bottle store tonight to celebrate. He was even more gatvol than us about all the delays.

Our estate agent doesn't even work for the agency that sold the house to us anymore - I can imagine how gatvol she must be of my nagging

 

[SykomantiS]

This might be a really stupid question, but I'm asking anyway.
How does occupational rent work? If I buy a house and I have no need to move in before the house is registered in my name, will/can I be forced to pay occupational rent if the seller moves into a new house before registration takes place? Or will the house just stand empty in such a case until registered in my name and I move in? Does the question make sense?

 

[Sinbad]

Nope. Occupational rent only happens when a property is occupied before transfer by the buyer, or after transfer by the seller

So yeah it can stand empty before transfer.

 

[APoc184]

This might be a really stupid question, but I'm asking anyway.
How does occupational rent work? If I buy a house and I have no need to move in before the house is registered in my name, will/can I be forced to pay occupational rent if the seller moves into a new house before registration takes place? Or will the house just stand empty in such a case until registered in my name and I move in? Does the question make sense?

You do not need to move into the house before registration is through. And if you don't. You don't pay occupational rent.

 

[APoc184]

Until registration is through and the place is officially yours. All responsibility stays with the seller. So security, insurance, rates and taxes/levies is all on him.

But the moment registration goes through, all those responsibilities shift to you the buyer. Even if the house is not occupied.
But when it is still occupied by the seller by the time registration goes through. He becomes liable for occupational rent. Payable to you.

 

[APoc184]

Just received my refund from the attorneys for occupational rent for part of this month not required because registration went through yesterday.

 

[Dups!]

Guys, my deal fell through. I am back at it again.

A question for those who know the area, how is Linksfield? Never paid too much attention to it but there is a property that looks good.

 

[Caldo]

Old Property
4-Nov-2020 - Listed
08-Feb-2021 - Unsuccess OTP
08-Apr-2021 - Successful OTP (Cash Buy)
Attorneys was messing around CoJ certificate process
31-May-2021 - Lodged
08-Jun-2021 - On Prep
11-Jun-2021 - Registered

New Property
22-Mar-2021 - Listed
29-Apr-2021 - Signed OTP at 91% of asking price
04-May-2021 - Signed counter offer by seller at 95%.
12-May-2021 - Bank granted the bond
25-May-2021 - Signed with Transfer Attorney
15-Jun-2021 - Signed with Bond Attorney
29-Jun-2021 - Bond proceed finalised
02-Jul-2021 - Lodged
16-Jul-2021 - ***Expected registration***

14-Jul-2021 - Registration complete


Some exciting news in the midst of all the chaos...

 

[PhireSide]

We have some updates too, at last:

The plans (that have been redrawn for the last five months) have been dropped off at the attorneys. They now need to come and issue the occupational certificate, so we are awaiting their call in that regard.

Hoping that they come soon, but with the unrest, I am doubtful. Probably another month+ setback, if they decide to postpone the inspection once again.

 

[Sinbad]

Contracts exchanged!

Basically means, deal is done, both parties committed. Now just waiting for the construction to finish...

 

[Quintrix]

This might be a really stupid question, but I'm asking anyway.
How does occupational rent work? If I buy a house and I have no need to move in before the house is registered in my name, will/can I be forced to pay occupational rent if the seller moves into a new house before registration takes place? Or will the house just stand empty in such a case until registered in my name and I move in? Does the question make sense?

Different option is to speak to current owner and negotiate low or no OR. You don't want a freestanding place to be empty for an extended period. If in complex then different story but will also give you opportunity to id issues that owner need to address.

 

[Caldo]

Hey...
For those planning to buy, always ask for the plans to avoid any surprises post the registration sms.

I recent bonded a place. It was a subdivision with a small house on it.
Not really interested in the house, planning to demolish and build my own (dont ask me why - I just like to punish mysel)

But anyway, the house is on somewhat high ground with the neighbour abit lower. The one side of the house is very close to the neighbour. I decided to call them and inform them of my plans (out of courtesy)

Neighbour says, "I think you must come around and have a look, there is a garage right below your house"

Not a big issue for me, because I was planning to demolish the house, it will just cost abit more to back fill the garage.

But is this was not my plan, it was not going to be pleasant for me.

So note to all, check the plans before you sign that OTP

 

[TheBadMadMan]

Neighbour says, "I think you must come around and have a look, there is a garage right below your house"

Not a big issue for me, because I was planning to demolish the house, it will just cost abit more to back fill the garage.

Got any pics?

 

[Caldo]

Have a site visit with the architect tomorrow, so I will take some pics

 

[TechGirl04]

Arg this property buying thing isn't going too well. We found a property. Gave the agent an offer amount on Friday. She took it to the seller and we all agreed on an amount. We asked the agent to draw up the OTP and send it to us which she did. We spoke to the agent this morning to confirm the OTP is in order. We were both (seller and buyer) going to sign today, as planned with the agent. At the 11th hour, the agent calls us to tell us the seller wants 8,5% more. We told her the original offer specified and agreed to on Friday still stands - take it or leave it. The seller declined.

The seller has every right to decline, but I'm annoyed that it was done at the last minute. Back to hunting for a property again.

 

[Marsie27]

It's strange (unprofessional?) that the agent didn't have an OTP form with her. A verbal offer isn't worth the paper it's written on, as the saying goes.

 

[Sepeng]

Arg this property buying thing isn't going too well. We found a property. Gave the agent an offer amount on Friday. She took it to the seller and we all agreed on an amount. We asked the agent to draw up the OTP and send it to us which she did. We spoke to the agent this morning to confirm the OTP is in order. We were both (seller and buyer) going to sign today, as planned with the agent. At the 11th hour, the agent calls us to tell us the seller wants 8,5% more. We told her the original offer specified and agreed to on Friday still stands - take it or leave it. The seller declined.

The seller has every right to decline, but I'm annoyed that it was done at the last minute. Back to hunting for a property again.

Look that does suck; only thing I will say is, it beats filling out that OTP and then being told to up your offer or something like that. So I far prefer your approach, where you can basically have a conversation with the seller (even if through an agent) before all those forms are filled in. But yeah, that does depend on people then sticking to what was agreed on.
Anyway with houses, I reckon everything happens for a reason and no matter how much you like a place, another one you like just as much will come along.
And on that note, a tip to all from my side - once you've found your dream house and have had your offer officially accepted - stop looking! Guaranteed something will come on the market that looks better and is cheaper then the place you just bought.