Offer to purchase question

N@t3

Senior Member
Joined
Aug 26, 2016
Messages
603
Bond Attorneys say the below:
"We are waiting for the proceed from the bank. We are checking everyday and will confirm immediately when we have the go ahead"

Been 10 working days since we signed at the Bond Attorneys.

How long does this usually take?
 

Solitude

Executive Member
Joined
Jul 23, 2008
Messages
6,562
Have a site visit with the architect tomorrow, so I will take some pics
How much does it cost to build a house? Out of interest's sake. However I guess that's like asking the length of a string.

But just a general idea.
 

Caldo

Senior Member
Joined
Jul 30, 2014
Messages
606
Bond Attorneys say the below:
"We are waiting for the proceed from the bank. We are checking everyday and will confirm immediately when we have the go ahead"

Been 10 working days since we signed at the Bond Attorneys.

How long does this usually take?
Mine was 6 working days with StdBank
 

maxxis

Senior Member
Joined
Jul 26, 2007
Messages
868
Good news for us.

Our JHB property sale is about to lodge. Finally received the rates clearance certificate.
Centurion property is a ball ache at the moment with the PTA deeds office constantly getting Covid cases and closing down.

At least we negotiated an occupation date for 1 August and our move date is the 4th.

I don't mind waiting for the PTA office. At least the move is happening.

10 days to go.
 

Tjoker

Expert Member
Joined
Sep 22, 2009
Messages
1,564
Hi myBBers,

Maybe not the right thread for this, but I am looking for more info, or someone, that applied for an additional loan on their existing bond? I am not sure about the ins and out(especially costs) regarding this? My current bond is with FNB.
 

Steamy Tom

Executive Member
Joined
Jan 23, 2019
Messages
7,734
Above was my first post to this thread, I saw a house loved it, put in an offer, got rejected and I was furious.

Everything happens for a reason in life. Its with great sadness to inform you that the house got burnt down to ashed soon after the new buyers moved in. I was devasted when I got the sad news, I was in shock, still in shock and cant imagine what they are going through right now.

alberton?
 

marysms

Active Member
Joined
Jan 22, 2021
Messages
43
Hi myBBers,

Maybe not the right thread for this, but I am looking for more info, or someone, that applied for an additional loan on their existing bond? I am not sure about the ins and out(especially costs) regarding this? My current bond is with FNB.
Usually depends on multiple factors, but they would normally start with the credit assessments, the process is usually quick and easy if the required amount would result in the overall loan total is less than or equal to your existing bond. If the overall loan total is above your existing bond then they would assess the property value to see if the additional loan can be covered by property value. In that case when they grant the loan, you will have to pay some legal costs to have a new bond amount register/attached to your title deed.

Its always advisable to register a bond amount greater than your current bond if you anticipate that you might require a building loan in future.
 

TechGirl04

Well-Known Member
Joined
Apr 4, 2018
Messages
340
Its always advisable to register a bond amount greater than your current bond if you anticipate that you might require a building loan in future.

How do you register a bond amount greater than your current bond? Can you do this when you purchase the house?
 

prOd

Expert Member
Joined
Nov 11, 2009
Messages
4,383
How do you register a bond amount greater than your current bond? Can you do this when you purchase the house?

You have to apply for the the full amount + extra at the bank, i.e. 105% and afaik banks dont easily do this. Could be wrong though
 

SauRoNZA

Honorary Master
Joined
Jul 6, 2010
Messages
40,812
We experienced an interesting situation yesterday. Went to view a property with some nice extra features including a load shedding back up system.

The house was originally on the market for just under R3 mil, listed at the beginning of May. There has been a lot of interest and viewings but no offers yet. Seller then dropped the price to R2.7mil a week or two ago.

My husband asked the agent about the load shedding back up system. The agent told us that the seller has decided to remove that from the house sale, because he had to lower the price. This seems a bit odd to me - the house was already not selling at the current price with the original listed features (including the load shedding back up). Now, the seller dropped the price and removed one of the attractive features.

If a proper system that’s likely what it originally cost to install.

Likely not everyone is seeing it as that decent of a feature and hence seller is looking to recoup that cost by selling it or moving it to new property.

You could likely offer 2.9 and strike a deal with the system.
 

Mike Hoxbig

Honorary Master
Joined
Apr 25, 2010
Messages
38,082
If a proper system that’s likely what it originally cost to install.

Likely not everyone is seeing it as that decent of a feature and hence seller is looking to recoup that cost by selling it or moving it to new property.

You could likely offer 2.9 and strike a deal with the system.
Would depend on the system though. If it's just a backup consisting of a few lights and plugs, offering 200k more wouldn't be worth it. You can go mostly off-grid for that.

Either way, I would have a conversation with the guy, get details about the system and then decide if it's worth offering closer to the original price...
 

Gozado

Senior Member
Joined
Jan 13, 2019
Messages
763
I wouldn't do this. Having multiple applications on your name at the same bank will most likely only cause issues.
What issues could it cause, for example? How could it be to the buyer's disadvantage, to shop around for the best deal, directly with banks, or through a bond originator, or both?
 
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