Offer to purchase question

Hi all

What is the maximum % discount you managed to negotiate with attorneys for transfer when purchasing a house?
 
aomar296 said:
Hi all

What is the maximum % discount you managed to negotiate with attorneys for transfer when purchasing a house?
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It all depends. If you are a first client, as in using them for the first time, don’t expect much

I neg 40% off (as I use the same panel when doing transfers).

But ask! Its either yes or no
 
aomar296 said:
Hi all

What is the maximum % discount you managed to negotiate with attorneys for transfer when purchasing a house?
Click to expand...
We got 50% off from the bond attorneys and the transfer attorneys, however, just be aware that it is just on the lawyers fees and not the total bond registration and transfer fees. It was our first property and first time using any of the lawyers.

Edit: I forgot to add, ask and ask again until they won't budge on the price.
 
We forced to use the seller appointed attorneys so they hold the relationship. How did you go about negotiating 50%? I'm only getting 15% at the moment
 
Hi all. Quick question for those who bought into a HOA and had to pay a Levy Clearance Fee. The email I got from the attorneys outlaid that the amount (R3900) was to cover the foreseeable levies and water/sewage usage for the month the transfer was going to take place. They also had a reimbursement form I completed and their email noted "Any Credit reimbursement will take place when we have all the required information for both parties and the accounts are finalized.". However, after the purchase completed I enquired about the reimbursement and was told the entire R3,900 was a fee and nothing is reimbursable. Does this sound right?
 
Praemon said:
Hi all. Quick question for those who bought into a HOA and had to pay a Levy Clearance Fee. The email I got from the attorneys outlaid that the amount (R3900) was to cover the foreseeable levies and water/sewage usage for the month the transfer was going to take place. They also had a reimbursement form I completed and their email noted "Any Credit reimbursement will take place when we have all the required information for both parties and the accounts are finalized.". However, after the purchase completed I enquired about the reimbursement and was told the entire R3,900 was a fee and nothing is reimbursable. Does this sound right?
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Nope. That is prorata billing (while in transfer)
 
Praemon said:
Hi all. Quick question for those who bought into a HOA and had to pay a Levy Clearance Fee. The email I got from the attorneys outlaid that the amount (R3900) was to cover the foreseeable levies and water/sewage usage for the month the transfer was going to take place. They also had a reimbursement form I completed and their email noted "Any Credit reimbursement will take place when we have all the required information for both parties and the accounts are finalized.". However, after the purchase completed I enquired about the reimbursement and was told the entire R3,900 was a fee and nothing is reimbursable. Does this sound right?
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Best to ask for the statements/invoices.

What is the monthly rates and levies of the property?

In my case, I had to pay R2500, the rates was R1000 and levies also around R1100 for the month my transfer took place. I got back around R400
 
MidnightZA said:
Best to ask for the statements/invoices.

What is the monthly rates and levies of the property?

In my case, I had to pay R2500, the rates was R1000 and levies also around R1100 for the month my transfer took place. I got back around R400
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Yeah, I think the next step is a statement/invoice. So the R3900 supposedly covered 2 months of levies and estimated water (that's what the email initially said). The thing is I was renting the property at the time and so already paid the 1st month via the rental agency, and the second was done via occupational rent which I also paid separately out of my deposit to the owner. So I personally paid rent covering levies for the period before the transfer. The transfer completed half-way through the 2nd month, and I then still paid pro-rata levies for that 2nd month as the new owner. The odd thing was the managing groups response to what that amount was for: they say it's a direct fee and nothing to do with the calculated levies (why did they even include that then?).
 
aomar296 said:
We forced to use the seller appointed attorneys so they hold the relationship. How did you go about negotiating 50%? I'm only getting 15% at the moment
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We negotiated the discounts in writing from the attorneys before we accepted any of the offers from banks. My guess is that they agreed to the 50% discount for a guaranteed sale. Our OTP stated that we had to get a 105% loan from the banks to cover the costs so it would have been easy to get out if the banks did not approve the 105% loan, which they didn't due to my salary structure at work. We ended up getting a 100% bond with the discounts which we accepted.
 
Praemon said:
Yeah, I think the next step is a statement/invoice. So the R3900 supposedly covered 2 months of levies and estimated water (that's what the email initially said). The thing is I was renting the property at the time and so already paid the 1st month via the rental agency, and the second was done via occupational rent which I also paid separately out of my deposit to the owner. So I personally paid rent covering levies for the period before the transfer. The transfer completed half-way through the 2nd month, and I then still paid pro-rata levies for that 2nd month as the new owner. The odd thing was the managing groups response to what that amount was for: they say it's a direct fee and nothing to do with the calculated levies (why did they even include that then?).
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Total BS. Ask for a statement. If they are taking levy fees you are still responsible
 
There was an error at the deeds office and the transfer was re-lodged. Does this mean the time for processing gets completely reset?
 
I put in an offer for a place and it was accepted. Since then I've noticed that there's a pakistani tuck shop about 500 meters from there. I wonder if this is a sign of deterioration of the area? I've noticed that whenever such a shop opens up in an area, it deteriorates.
 
Mine is still delayed at the deeds office, apparently there is a backlog. Anyway, I bought from excellent sellers who are letting us move in this week as they're moving somewhere else in a couple days.
 
derp90 said:
Mine is still delayed at the deeds office, apparently there is a backlog. Anyway, I bought from excellent sellers who are letting us move in this week as they're moving somewhere else in a couple days.
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Are you going to be paying occupation rent?
 
derp90 said:
Nope, there was none specified in the OTP.
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Then they are excellent sellers indeed. I am paying occupational rent and the transfer process has been dragging since OTP in April.
 
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