Offer to purchase question

[bokka1]

Depends on all the fees that you count. If you add estate agent fees for the sale of his previous property (call it 5% of R2.3m = R115k) you end up pretty close to the R440k he quoted.

That is not the way I understood it, he would have said commission if that was included.

 

[Mawirepower]

This house buying process is unpredictable. Turns out the deceased estate was never finalized (10+ years later!)
Transfer attorney is now also handling the liquidation of the estate. No estimated completion date yet.

 

[JibbersCrabst]

Registered today! Moving in over the weekend. I won't be very productive at the office till I'm settled so might take a chance with the boss in the morning and gauge my ability to get started tomorrow.

 

[Speedster]

Registered today! Moving in over the weekend. I won't be very productive at the office till I'm settled so might take a chance with the boss in the morning and gauge my ability to get started tomorrow.

Congrats

 

[The_Mowgs]

This house buying process is unpredictable. Turns out the deceased estate was never finalized (10+ years later!)
Transfer attorney is now also handling the liquidation of the estate. No estimated completion date yet.

Are we buying the same house????

 

[marysms]

Wait till you buy a 4 million house one day, and your fees are R440k Yip its almost as much as this bond. I bought my house 700k sold for 2.3 million, slapped another investment of 1 million in, and bought a 4 million house with a new bond of 700k and then another 440k for fees.

Urgh

Transfer proforma invoice for a 3.25m house, at least no bond on this one, less costs

 

[Mike Hoxbig]

Transfer proforma invoice for a 3.25m house, at least no bond on this one, less costs
View attachment 1116134

After 2.5m, the transfer duty starts increasing exponentially.

Bought ours for 2.8m - the total payable was 157k-odd, of which the duty was 124k.

Your purchase price is only 425k more, but the transfer duty is nearly 50k more...

 

[marysms]

After 2.5m, the transfer duty starts increasing exponentially.

Bought ours for 2.8m - the total payable was 157k-odd, of which the duty was 124k.

Your purchase price is only 425k more, but the transfer duty is nearly 50k more...

Crazy, the bigger the figure, the bigger the taxman bites

 

[Brawler]

Chaps, I believe you can ask for a discount on the fees. Any pointers, please.
I have received a good bond offer with FNB @ 5.85%. The bank's attorneys have just reached out to me.

 

[marysms]

Chaps, I believe you can ask for a discount on the fees. Any pointers, please.
I have received a good bond offer with FNB @ 5.85%. The bank's attorneys have just reached out to me.

Depending on the option you used for applying for your bond, if you used the FNB App or digital channels then you will get 50% discount on Bond Attorney Fees.

For Transfer Attorneys it a tricky one, usually works better if you have an arrangement with the seller when it comes to selection of Transfer Attorney if you are involved in the selection then you can ask for a bigger discount.

But these fees are day light robbery, why should I pay you more for the same amount of admin that you have to do for each transfer irrespective of property value?

 

[MGMT]

Chaps, I believe you can ask for a discount on the fees. Any pointers, please.
I have received a good bond offer with FNB @ 5.85%. The bank's attorneys have just reached out to me.

Just ask outright. I asked the transfer attroney and they gave us 10% off the bat.

 

[bokka1]

This house buying process is unpredictable. Turns out the deceased estate was never finalized (10+ years later!)
Transfer attorney is now also handling the liquidation of the estate. No estimated completion date yet.

It should not cause a big delay because once the Letter of Executorship is issued one can apply for a consent to transfer from the Master's Office, they are usually quite efficient with that. You don't have to wait for the winding up of the whole estate.

 

[The_Mowgs]

It should not cause a big delay because once the Letter of Executorship is issued one can apply for a consent to transfer from the Master's Office, they are usually quite efficient with that. You don't have to wait for the winding up of the whole estate.

I got the same message. Right afterwards the attorney said it can also take 2 years to do.

 

[Mawirepower]

It should not cause a big delay because once the Letter of Executorship is issued one can apply for a consent to transfer from the Master's Office, they are usually quite efficient with that. You don't have to wait for the winding up of the whole estate.

You are spot on. The bond attorney sent the Transfer attorney this same information and I got the latest shock below. This was never communicated to me.

 

[bokka1]

I got the same message. Right afterwards the attorney said it can also take 2 years to do.

It should not cause more than a two to three month delay.

Which Master's Office?

 

[The_Mowgs]

It should not cause more than a two to three month delay.

Which Master's Office?

Im not too sure sorry. I thought it was in the city?

 

[bokka1]

Im not too sure sorry. I thought it was in the city?

Lol, I forgot that you are here in Cape Town.

I blame all the braais.

 

[The_Mowgs]

Lol, I forgot that you are here in Cape Town.

I blame all the braais.

Hahahaha. If theres only one in Cape Town then yes, it must be it. The sht thing is I explicitly told the agent at our first viewing that I know for a fact the house is in the name of the husband which I didn't see at the property. She said no Im mistaken and its not the case.

We signed and literary 5min afterwards she asks if we are aware that the house is in a estate and that they dont even know who is in charge of it because the last papers the lady saw was that of Volkskas bank...

 

[GrasKarp]

What type of things must I be aware of during the handover? According to me the sellers/agent will need to handover the keys and all passcodes. Is there anything else that I need to specifically ask, anyone with lessons learned?

 

[zerocool2009]

What type of things must I be aware of during the handover? According to me the sellers/agent will need to handover the keys and all passcodes. Is there anything else that I need to specifically ask, anyone with lessons learned?

As for a snaglist (as in what was mentioned in the otp to be fixed, and confirm that in writing with the seller and agent (if needed)), what stays (as in appliances.