Offer to purchase question

[s898]

Im from the westrand, We only wear sleeveless vests.

even the woman, Fight me if you think im wrong

@MidnightZA @Sepeng , I was just upset cause we remembered it as perfect, the high before the buy.
But, painting starts tomorrow, then running new cables for lights, Home automation stuff etc, Big long project list ahead. BUT

its our place

What home automation stuff are you planning to work on? Just wondering coz am also in the process of buying a home.

 

[The Darkness]

Ok, So got the keys last night, Neither estate agent was available for the initial walk through, Red flag.
So im 99% sure that I know the answers, but want confirmation from random people on the internet,

We noticed damaged, and issues, Who pays for
Cracked patio door (Big ass sliding door)
Missing tiles, didnt see them when we initially saw the house
Leaking sink has caused some mold and the cupboard probably needs to be replaced
Cracked washing basin in the bathroom
"Small" crack and a chip on the bedroom door
I was unable to plug something into the Mainbedroom plug socket
Drawer in the kitchen's bottom is falling out
Overflow from the geyser drips when we run water (This one worries me alot)
chips and holes in the wall where shelves were inplace at one point, during initial visit the shelves were already gone,
Cornice in an upstairs bedroom is missing at one part
door handle missing on a cupboard door
Handle on the tap was replaced with what looks like an outside taps handle? So I would assume the entire tap gets replaced


No im thinking, its the previous owners issues as we have not moved in,
How do we proceed? Im going to get the estate agents in today, even if i have to drive them there myself.

Ouch! Without photo's that you took during the viewings, and a walkthrough with the agent/attorney at handover, there's no way you can prove it wasn't like that before. You'll need to suck it up. The seller's attorney will block any request from you for the seller to be liable. Don't even waste your time. The cost of replacing/repairing that list of yours will be far less in money and time with lawyers etc.
Get friendly with your local Builders Warehouse.

 

[marbro]

So far, Nothing major like these nerds here
Smart switches through out,
PIR sensors for kids room, bathroom and kitchen to turn lights off, cause kids are too doff to do it
Powr3 switch for geyser
door sensors for my office, turn on and set a scene
Cameras, using old phones and tablets, install IP Cam on them and I can get alerts
Smart switches to turn on and off lights based on sun levels.


thats about it for now, inverter is a little doff so I cant get that to link and dont have solar

 

[Botha22]

I think if you bought the property from a developer (or supplier in the property industry) then the sale is covered by the CPA. You can then try to claim for any latent defects discovered after transfer.

 

[maumau]

Ok, So got the keys last night, Neither estate agent was available for the initial walk through, Red flag.
So im 99% sure that I know the answers, but want confirmation from random people on the internet,

We noticed damaged, and issues, Who pays for
Cracked patio door (Big ass sliding door)
Missing tiles, didnt see them when we initially saw the house
Leaking sink has caused some mold and the cupboard probably needs to be replaced
Cracked washing basin in the bathroom
"Small" crack and a chip on the bedroom door
I was unable to plug something into the Mainbedroom plug socket
Drawer in the kitchen's bottom is falling out
Overflow from the geyser drips when we run water (This one worries me alot)
chips and holes in the wall where shelves were inplace at one point, during initial visit the shelves were already gone,
Cornice in an upstairs bedroom is missing at one part
door handle missing on a cupboard door
Handle on the tap was replaced with what looks like an outside taps handle? So I would assume the entire tap gets replaced


No im thinking, its the previous owners issues as we have not moved in,
How do we proceed? Im going to get the estate agents in today, even if i have to drive them there myself.

Moved into my place on Wednesday.

It's carpeted throughout and the carpet is filthy - previous owner used rugs to cover the marks, locks on all bedroom cupboards are broken, both bedroom doors only lock from inside the room, storeroom door sticks, big crack in small window near front door, walls are covered in hooks and nails where previous owner hung pics and memorabilia, sliding door sticks, shelf under kitchen sink has dreadful water damage, melamine is peeling on 3 kitchen drawers, no garage keys.

Small things that can be fixed.

Fiber installed yesterday thanks to awesome Cool Ideas and Vumatel, carpets are being ripped up on Monday. Getting a quote on painting and a bathroom revamp.

Exciting times.

 

[RedViking]

Moved into my place on Wednesday.

It's carpeted throughout and the carpet is filthy - previous owner used rugs to cover the marks, locks on all bedroom cupboards are broken, both bedroom doors only lock from inside the room, storeroom door sticks, big crack in small window near front door, walls are covered in hooks and nails where previous owner hung pics and memorabilia, sliding door sticks, shelf under kitchen sink has dreadful water damage, melamine is peeling on 3 kitchen drawers, no garage keys.

Small things that can be fixed.

Fiber installed yesterday thanks to awesome Cool Ideas and Vumatel, carpets are being ripped up on Monday. Getting a quote on painting and a bathroom revamp.

Exciting times.

Yeah these things you guys mention are small and simple things I fix every time I move into a rental. Would be the least of my worries.

 

[Medres]

Get some wood filler, sandpaper, and paint. Probably less than an hours worth of work (add hours of drying time also)


Not an electrical fault, you can get a plug socket from ACDC or less than R100. Change it yourself. I changed more than half of my working sockets (singles to doubles)


You can probably fix this yourself, probably screws on the rail came loose or the runner is faluty. Either way cheap fix to DIY. If the cupboard is rotting and screws are not holding then you have a costly fix


Filler, sandpaper and paint again.


Also a DIY fix, cornice is cheap. I think its stuck with silicone. Then paint it to match.


Go to Gelmar, they have a wide range of handles, quite cheap. Maybe you can match it. Or replace all handles to match. You can get stainlesss steel handles for less than R7. I changed 10 handles (plastic to SS) for less than R100.


Also check gelmar for a new tap handle. Not too sure about that.

I visited Gelmar almost every weekend for couple months, the staff even know me lol. Im lucky that I have a store less than 5kms from me and the ACDC is next door. The first few months of owning a house is costly, you will always find something you want to change, like the lights to LEDs etc

Get the Crabtree brand for your electrical fittings, don't go for the cheap builders brand crap

 

[Ma’bad]

I’m sure my question has been covered before but with the thread going on to 204 pages quicker just to ask.
I want to purchase an apartment (sectional title) in an estate. I will be taking a 100% loan. The property is new so there are no transfer costs.

My current lease expires 1 March 2023 and I would like to have my new place earliest by the 1st of Feb as paying for 2 places at the same time would be quite a waste of money.

i have asked the estate agent and she has said that should I sign an otp now most likely the transfer would take place by January and first payment of bond would be due 1 Feb (she estimates bond would take 1 month and there would be delays as Offices are closed from 15th December), though she does add she cant gurrantee the timeline.

From what I have read it takes around 3 months from signing of otp - so I estimate if I sign the otp now things will be done by November and bond payment will start in December.

Is she right and my timeline off or should I just wait until November? I would struggle to pay both bond and rental….

 

[RedViking]

I’m sure my question has been covered before but with the thread going on to 204 pages quicker just to ask.
I want to purchase an apartment (sectional title) in an estate. I will be taking a 100% loan. The property is new so there are no transfer costs.

My current lease expires 1 March 2023 and I would like to have my new place earliest by the 1st of Feb as paying for 2 places at the same time would be quite a waste of money.

i have asked the estate agent and she has said that should I sign an otp now most likely the transfer would take place by January and first payment of bond would be due 1 Feb (she estimates bond would take 1 month and there would be delays as Offices are closed from 15th December), though she does add she cant gurrantee the timeline.

From what I have read it takes around 3 months from signing of otp - so I estimate if I sign the otp now things will be done by November and bond payment will start in December.

Is she right and my timeline off or should I just wait until November? I would struggle to pay both bond and rental….

It's a gamble either way. 3 months sounds about right if I look at the house I previously rented and was sold. But it is just a guideline. If you read some of the stories in this thread, there are so many things that can cause delays. New Build I assume should have less hassles, assuming everything is in place. Most likely if you go ahead now it will be done by December or earlier. But then again, planning it later and holidays inbetween,who knows.

Maybe plan for storage and stay with family and do closer to the time?

Makes sense to sign OTP to secure the place?

 

[Ma’bad]

It's a gamble either way. 3 months sounds about right if I look at the house I previously rented and was sold. But it is just a guideline. If you read some of the stories in this thread, there are so many things that can cause delays. New Build I assume should have less hassles, assuming everything is in place. Most likely if you go ahead now it will be done by December or earlier. But then again, planning it later and holidays inbetween,who knows.

Maybe plan for storage and stay with family and do closer to the time?

Makes sense to sign OTP to secure the place?

Yeah its between getting a place to early and paying both rent and the bond (cancelling lease early could attract 2 months rent as a penalty) vs waiting 1-2 months and risk losing the place.

 

[RedViking]

cancelling lease early could attract 2 months rent as a penalty

At max a month's rent extra assuming they can't find something else. According to law you only need to give 21 days and reasonable penalty, proving that they couldn't find someone to put in the place and they can proof they advertised.

 

[Tetraplex]

Yeah its between getting a place to early and paying both rent and the bond (cancelling lease early could attract 2 months rent as a penalty) vs waiting 1-2 months and risk losing the place.

Ownership (Transfer) should happen MUCH quicker ... no rates or levies or bond clearance figures needed with a "new property" (assumption that this property is a new development)

Add preferred OCCUPATION DATE to OTP!!! (after discussion with agent and, after acceptance, with transfer attorney and bond provider attorney)

 

[Ma’bad]

At max a month's rent extra assuming they can't find something else. According to law you only need to give 21 days and reasonable penalty, proving that they couldn't find someone to put in the place and they can proof they advertised.

I have attached the part of upto 2 months penalty


21.1.2.the Landlord shall be entitled to recover any loss suffered by the Landlord as a result of such early cancellation of the Lease Agreement by charging the Tenant a reasonable cancellation penalty, which will be the equivalent of not less than the amount stated in item 1.29.
21.2. The factors that will be considered when determining the reasonable cancellation penalty contemplated in clause 21.1.2 will include: 21.2.1.the amount of time left until the Initial Period is due to terminate;
21.2.2.whether the Landlord is likely to find another tenant to replace the Tenant within a reasonable time; and
21.2.3.whether the Tenant agrees this is a fair and reasonable cancellation penalty.
21.3. If the Landlord or the Agent (as the case may be), by acting reasonably and diligently, is able to enter into a new lease agreement during the 20 (Twenty) Business Day notice period set out in clause 21.1.1, and the new lease agreement is for the same duration or a longer period than the remaining period of this Lease Agreement, then the Tenant shall only be liable for the reasonable advertising costs incurred by the Landlord in advertising the Premises and for any commission due to the Agent. The advertising costs and commission charged under this clause 21.3 may not be more than the reasonable cancellation penalty set out in item 1.29.

 

[Ma’bad]

Ownership (Transfer) should happen MUCH quicker ... no rates or levies or bond clearance figures needed with a "new property" (assumption that this property is a new development)

Add preferred OCCUPATION DATE to OTP!!! (after discussion with agent and, after acceptance, with transfer attorney and bond provider attorney)

It is a new development, so it could go a lot quicker….
what benefit would specifying an occupation date have?

 

[Harmonic]

I’m sure my question has been covered before but with the thread going on to 204 pages quicker just to ask.
I want to purchase an apartment (sectional title) in an estate. I will be taking a 100% loan. The property is new so there are no transfer costs.

My current lease expires 1 March 2023 and I would like to have my new place earliest by the 1st of Feb as paying for 2 places at the same time would be quite a waste of money.

i have asked the estate agent and she has said that should I sign an otp now most likely the transfer would take place by January and first payment of bond would be due 1 Feb (she estimates bond would take 1 month and there would be delays as Offices are closed from 15th December), though she does add she cant gurrantee the timeline.

From what I have read it takes around 3 months from signing of otp - so I estimate if I sign the otp now things will be done by November and bond payment will start in December.

Is she right and my timeline off or should I just wait until November? I would struggle to pay both bond and rental….

You can put transfer not before xx date on the OTP. It's up to the seller to accept that

 

[RedViking]

21.2.2.whether the Landlord is likely to find another tenant to replace the Tenant within a reasonable time; and

They can just find another tenant. There is a big demand.

Aka no penalty.

 

[RonSwanson]

You can put transfer not before xx date on the OTP. It's up to the seller to accept that

This.

 

[Forza]

Thanks for the information,
Sadly, I was wrong, And I dont have proof that the issues came between initial visit and yesterday
big time school fees

Sour first buy

Perhaps you saved the images when they initially listed the property?

However we had that same sense when we got the keys to our place and saw it empty.

We thought to ourselves our crap everything is broken, it does not look like it was but the reality is, one's eye see's differently when there is no furniture or things to "hide" the cracks.

With us it was a bit different though, as the agent made it clear that the seller won't fix any defects, since it was a old old guys house, and they we should inspect properly and make an offer we deem was reasonably based on the defects - which there wasn't. The house was just very old school so lots of modern changes needed.

Once your furniture is in, you'll quickly lose sleep over those "small" issues but nothing a fresh paint job can't fix (which was the first thing we did when we moved in)

 

[marbro]

Yeah, We have basically come to terms with it, The effort to fight the previous owner and maybe win, is higher than just fixing and making it ours.
Painted out alot, started swopping out light fittings, removing old DSTV cables etc. lots of work, but good work

 

[RedViking]

1. Do your research, determine your max price as buyer
2. Start lower than your max.
3. Put offer in writing with a short expiry date
4. Wait until your offer's expiry date before acting
5. Get seller's counter offer in writing
6. Be dynamic in responding to the circumstances
7. Always see property for the second time
8. Write a motivational letter
9. Have a final move up your sleeve