Offer to purchase question

derp90 said:
I didn't cross it out. I think I'm just lucky to have bought from some great sellers, as when I viewed the house they were there and I got a really good feeling. All my dealings with them have been excellent, so I'm not just blindly accepting everything they say or do. It's based on my interactions.

And I know it's business and you're not supposed to base things on feelings yada yada yada and it's the internet so everyone is 100% right and their word is law and I'm naive and will get burned and there are issues waiting at every turn blah blah :D

I am checking with the lawyers about the earlier occupation and will do things by the books :)
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Great. Seems like you know it all then. Good luck to you
 
Neuk_ said:
Went to sign transfer documents for our new house at the lawyers yesterday and busy arranging COC's at our current house, the ball should start rolling quicker now that we are 3 months out from planned transfer :cool: We did get the lawyers 'invoice' yesterday which needs to be paid, sonofabitch...
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why are the lawyers arranging COC's?
 
RedViking said:
Surely this should all be in the OTP. If not, ask for an amendment.

But the risk is more on the seller. As a seller I would not let someone move in until everything is 100% finalised and the conditions in the OTP has been met.
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This.
There is far too much risk allowing occupation before transfer. All my OTPs state that occupation will take place on transfer.
 
zerocool2009 said:
I would say yes. A stove pulls ALOT of power. Thats why it uses a 60A usually

The question should rather be, if it isnt in, whats the reason?
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60A is mental to be honest, the breaker is probably only a 20/30 A anyway, 60A is like 13kW. The whole house probably only has a 80A at the street or less and the main switch would probably be a 63A. I do agree though it should have one and it should be within the required distances etc
 
azbob said:
Is a stove isolator switch required for an electrical COC?
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Contacted Inspecto. They say that if it’s not part of the original installation then it doesn’t affect the COC. Only if there is one installed will it need to be checked for compliance.
 
azbob said:
Contacted Inspecto. They say that if it’s not part of the original installation then it doesn’t affect the COC. Only if there is one installed will it need to be checked for compliance.
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I didn't have one at my previous place but the company that did the COC said there must be one and it must be located at a certain spot but have no idea if he was taking me for a ride or not.
 
Might be a dof question.... I want to change from a smart light in my kitchen to a normal on/off switch.. Is it quite a process or something I need an electrian for?
 
azbob said:
Is a stove isolator switch required for an electrical COC?
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In my house the DB board is in the kitchen about 2 meters away from the stove and we don't have an isolator switch. I also queried it when I bought the house, and the electrician doing the COC said it wasn't necessary because the circuit breaker is so close to the stove. The major difference however is that an isolator switch will cut both the live and the neutral wires to the stove, whereas the circuit breaker will only cut the live feed. So if there is an issue with your neutral and you need to cut the power in an emergency, a proper isolator switch is preferred.
 
STORMERSFAN said:
Might be a dof question.... I want to change from a smart light in my kitchen to a normal on/off switch.. Is it quite a process or something I need an electrian for?
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Home Improvements Thread that way ----------->

The Home Improvements Thread (2)

You should check if the smart switch is actually putting out power first with a multi-meter. it is something you can do yourself, you need to drain the geyser and then take out the element, replace it and the gasket. Cheers. It's definitely sending power to the thermostat. The thermostat's...
mybroadband.co.za mybroadband.co.za
 
Hi... a bit of advice please.


Co-bought a flat (50/50) and after partner got some extra cash we decided to pay it off to save on interest. I have to pay my 50% of the settlement amount back to the partner over X amount of years.

We are now renting out the property and I just use that monthly rental income to chip away at the amount.

For arguments sake: R200,000 was the settlement amount and partner paid that so now I am repaying the R100,000 using rental income.

That bond is settled, but the account is still open.

However, I have since bought a place of my own, but obviously there is hardly any tax benefit from the co-owned settled bond/rental income.

A tax practitioner suggested to me to rather take some cash from the settled bond and push it into the new bond and then I would just foot the bill for 'settled bond'.

Should I take out the cash, settle my outstanding bill with the partner, put the rest into the new bond and then also foot the bill for the "new settled bond"?
 
VBot said:
Hi... a bit of advice please.


Co-bought a flat (50/50) and after partner got some extra cash we decided to pay it off to save on interest. I have to pay my 50% of the settlement amount back to the partner over X amount of years.

We are now renting out the property and I just use that monthly rental income to chip away at the amount.

For arguments sake: R200,000 was the settlement amount and partner paid that so now I am repaying the R100,000 using rental income.

That bond is settled, but the account is still open.

However, I have since bought a place of my own, but obviously there is hardly any tax benefit from the co-owned settled bond/rental income.

A tax practitioner suggested to me to rather take some cash from the settled bond and push it into the new bond and then I would just foot the bill for 'settled bond'.

Should I take out the cash, settle my outstanding bill with the partner, put the rest into the new bond and then also foot the bill for the "new settled bond"?
Click to expand...
If you take out the cash, you're then paying the bond off again? Which bond has a higher interest rate?
 
deweyzeph said:
In my house the DB board is in the kitchen about 2 meters away from the stove and we don't have an isolator switch. I also queried it when I bought the house, and the electrician doing the COC said it wasn't necessary because the circuit breaker is so close to the stove. The major difference however is that an isolator switch will cut both the live and the neutral wires to the stove, whereas the circuit breaker will only cut the live feed. So if there is an issue with your neutral and you need to cut the power in an emergency, a proper isolator switch is preferred.
Click to expand...

This DB board is also in the kitchen within 2m.
 
What's the process of cancelling a signed OTP if we fail to get a loan? Our Bond originator is struggling to get a loan for us. It's been 14 days since we signed the OTP.
 
s898 said:
What's the process of cancelling a signed OTP if we fail to get a loan? Our Bond originator is struggling to get a loan for us. It's been 14 days since we signed the OTP.
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Your OTP should have a time frame - I.e subject to you getting a bond in 30 days. I guess you can wait for that time frame to pass?
 
VBot said:
Hi... a bit of advice please.


Co-bought a flat (50/50) and after partner got some extra cash we decided to pay it off to save on interest. I have to pay my 50% of the settlement amount back to the partner over X amount of years.

We are now renting out the property and I just use that monthly rental income to chip away at the amount.

For arguments sake: R200,000 was the settlement amount and partner paid that so now I am repaying the R100,000 using rental income.

That bond is settled, but the account is still open.

However, I have since bought a place of my own, but obviously there is hardly any tax benefit from the co-owned settled bond/rental income.

A tax practitioner suggested to me to rather take some cash from the settled bond and push it into the new bond and then I would just foot the bill for 'settled bond'.

Should I take out the cash, settle my outstanding bill with the partner, put the rest into the new bond and then also foot the bill for the "new settled bond"?
Click to expand...

I would buy more property!
 
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