Offer to purchase question

TechGirl04 said:
Similar-ish thing happened to us - the wooden flooring had warped but my husbands desk was on it so we didn't know until we moved out. We told the agent as soon as we saw it and negotiatied with the buyer. We waived their occupational rent for 1 month to compensate.
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Ja, most people act in good faith. BUT the voetstoots clause will protect you, the onus is on the buyer to move the desk and check everything. You are only liable if you hide something deliberately.
 
Hi all

Just got my proceeds this morning

Big difference to what I calculated

So my bond balance showing on my app was like 70k

My bond of 5100 went off on Monday but the balance didn't uodate so balance would have been around 65k

I looked at the settlement figure and it's almost 94k

Why would that be?
 
I.am.Sam said:
Hi all

Just got my proceeds this morning

Big difference to what I calculated

So my bond balance showing on my app was like 70k

My bond of 5100 went off on Monday but the balance didn't uodate so balance would have been around 65k

I looked at the settlement figure and it's almost 94k

Why would that be?
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You gave 3 month's notice that you'll be closing your bond? Cos to reward you for setting your bond early they basically add the interest you would have paid to your amount owing, or something like that.
 
Sepeng said:
You gave 3 month's notice that you'll be closing your bond? Cos to reward you for setting your bond early they basically add the interest you would have paid to your amount owing, or something like that.
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yes 3 months notice was given as far as im aware

So is the interested calculated on the +-65k for the remainder of the bond which is +-12years ?
 
I.am.Sam said:
yes 3 months notice was given as far as im aware

So is the interested calculated on the +-65k for the remainder of the bond which is +-12years ?
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I don't think it's as bad as that and also depends on how long you've had the load for; so if less than 2 years would be 1% of the amount owing. Your figure does seem very high to be honest so not sure what else is going on - surely internet banking can show where the figure comes from?
 
I.am.Sam said:
yes 3 months notice was given as far as im aware

So is the interested calculated on the +-65k for the remainder of the bond which is +-12years ?
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If you gave notice in time, I dont think you should be paying anything extra.

Ask the bank for a breakdown on that amount. Sounds excessive to me as well
 
I.am.Sam said:
yes 3 months notice was given as far as im aware

So is the interested calculated on the +-65k for the remainder of the bond which is +-12years ?
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Is your bond with FNB? These days FNB waives the 3 months' notice due to COVID-19 et al.
 
this is weird

so going on the homeloan acc it shows balance of 0

go into the transaction history and the settlement of R94k shows

but then a positive balance of R28k
 
speaking to a FNB person and she and I both assume that the cancellation amount was requested in April

so the interest and balance at that time was +-93k

now that the sale went trhough they paid that amount

But however over the last few months i have been also making payments so the balance came down and now that +-25k will be refunded
 
I.am.Sam said:
this is weird

so going on the homeloan acc it shows balance of 0

go into the transaction history and the settlement of R94k shows

but then a positive balance of R28k
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If you didn't give notice, you pay the interest on 3 months when you cancel the bond.
 
TofuMofu said:
If you didn't give notice, you pay the interest on 3 months when you cancel the bond.
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notice was given in April

but i dont know if anyone else experienced it

But in summary what i think happened is the money paid to the bank to cover the bond was the settlement figure given to the lawyers in April

over the last 5 months i still paid the bond and the balance was lower
 
I.am.Sam said:
notice was given in April

but i dont know if anyone else experienced it

But in summary what i think happened is the money paid to the bank to cover the bond was the settlement figure given to the lawyers in April

over the last 5 months i still paid the bond and the balance was lower
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Strange, hope you get it sorted
 
PhireSide said:
I hope OP doesn't mind that I am shoe-horning my way in here as well.

We signed an OTP last week and sold our place a day later. Ours was in the market for 13 hours before we found the seller. They offered 98% of asking price so we accepted. It's definitely a seller's market, especially down here in PE.

We are hoping for the property we purchased to be registered before the end of the year, but understandably there will be delays, more so than when we bought two years ago, but we are in no hurry.

Best of luck to all in the same boat, and may your purchases also be smooth sailing!
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It's about one more month to go to the one year mark since we signed the OTP!

The plans are still with the municipality, and I am getting zero response from anyone other than them saying 'please be patient'.

Patience is wearing quite thin at this stage, but we are hoping that there is light at the end of the tunnel soon.
 
PhireSide said:
It's about one more month to go to the one year mark since we signed the OTP!

The plans are still with the municipality, and I am getting zero response from anyone other than them saying 'please be patient'.

Patience is wearing quite thin at this stage, but we are hoping that there is light at the end of the tunnel soon.
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Which stage is this that requires plans?
 
Mawirepower said:
Which stage is this that requires plans?
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Trying to recall from memory but basically the plot was subdivided, then the attorneys lost the plans and it had to be drawn up again, now with COVID the municipal offices are closed every second day so things are going at snail-on-a-sloth-in-molasses pace
 
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