Offer to purchase question

RedViking said:
Hope everything works out. Going to be nice not having to stress about rent and landlords and agents anymore.

I did inform our new landlord that we are currently renting but with the intention to buy and did not look like they have a problem with this. So when the time comes Im sure they will hopefully work with us. We waited since April for our current accommodation because the previous tenant was buying and it took longer than expected and the landlord said unfortunately we will have to wait till they have finalised stuff. So we respected that as we know one day we will be in the same position, and waited patiently for 6 months for them to move out.

If only everyone had respect for each other in the rental industry it is really not a bad way to live. But greedy filthy slithery agents have made it unbearable.
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That was real mature of you guys. I have broke the news to the my current landlord that I signed an otp and will likely move out in 3 months - and will conifrm if loan comes through.
by then I would be ending the lease 2 months before time so not terrible of me… just did not want to lose the place we were interested in
 
My property registration is about to be lodged next week as per the transfer attorneys. I wonder if there's any way to cancel this deal? We want to back off from this transaction if possible. Has anyone tried this before?
 
s898 said:
My property registration is about to be lodged next week as per the transfer attorneys. I wonder if there's any way to cancel this deal? We want to back off from this transaction if possible. Has anyone tried this before?
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why?

even if you can you are going to be liable for some hefty costs
 
Steamy Tom said:
why?

even if you can you are going to be liable for some hefty costs
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There's an opportunity for us to emmigrate in the immediate future. So, we will have to sell the place within a few months anyway. I think it will be at a massive loss coz the prices are coming down.
 
s898 said:
There's an opportunity for us to emmigrate in the immediate future. So, we will have to sell the place within a few months anyway. I think it will be at a massive loss coz the prices are coming down.
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you are going to be liable for the agents commission and likely the attorney fees also.
 
s898 said:
My property registration is about to be lodged next week as per the transfer attorneys. I wonder if there's any way to cancel this deal? We want to back off from this transaction if possible. Has anyone tried this before?
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yes you can cancel ANY deal.. BUT.. you will be liable for the estate agents commission (they are cockroaches so they don't care about your problems) you will obviously lose any money to lawyers.
Then comes the tricky part, the seller is legally allowed to claim damages... which will be decided by more lawyers etc.. this will drag on for months and months.

Probably a lot easier, quicker, cheaper and less sleepless nights to take ownership of the property and immediately advertise it privately on Property24... see if you can flog it for more or less the same price
 
My bond is now 2 years old as of end of September. I want to attempt to get a lower interest rate.
Do I contact SB asking for a better rate?
Do I get another quote from another bank?
Do I get a value from SB first take it to another bank get a quote from them, then take that back to SB to see if they will beat?

What is the best route to take? Asking SB direct would probably be the easiest, I don't mind doing the extra paperwork if needed.
 
I almost can't believe I am typing this...

The current owners of the house that we have bought which is scheduled for transfer at the end of October, haven't done the electrical, gas or electric fence COC yet because we didn't specify them in our OTP like we did with the building plans and diesel generator COC :ROFL: The lawyers handling the transfer, as chosen by the current owners, are getting frustrated trying to explain to the wife, who is an advocate, that it doesn't matter that we haven't specified the COC's in the OTP, they have to have them done for the transfer of the property...
 
Neuk_ said:
I almost can't believe I am typing this...

The current owners of the house that we have bought which is scheduled for transfer at the end of October, haven't done the electrical, gas or electric fence COC yet because we didn't specify them in our OTP like we did with the building plans and diesel generator COC :ROFL: The lawyers handling the transfer, as chosen by the current owners, are getting frustrated trying to explain to the wife, who is an advocate, that it doesn't matter that we haven't specified the COC's in the OTP, they have to have them done for the transfer of the property...
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Correct you are. It's by law this has to be done.
 
s898 said:
There's an opportunity for us to emmigrate in the immediate future. So, we will have to sell the place within a few months anyway. I think it will be at a massive loss coz the prices are coming down.
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Why not rather rent the house out and emigrate. Cover some of your costs rather than sell it.
 
purple face said:
will you still buy a house now with the Land expropriation bill waiting to get approved?
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Of course you should be buying. And with prices coming down especially now (although 18months ago was best). I don't see the need for doom and gloom. Do you think banks will allow houses to be expropriated? This will never happen. 35% of South Africans own property - That's not a small number who would highly object to what's theirs being taken.
 
Neuk_ said:
I almost can't believe I am typing this...

The current owners of the house that we have bought which is scheduled for transfer at the end of October, haven't done the electrical, gas or electric fence COC yet because we didn't specify them in our OTP like we did with the building plans and diesel generator COC :ROFL: The lawyers handling the transfer, as chosen by the current owners, are getting frustrated trying to explain to the wife, who is an advocate, that it doesn't matter that we haven't specified the COC's in the OTP, they have to have them done for the transfer of the property...
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Idiots.

"advocate"

There is your problem. Yuck.
 
The Darkness said:
Why not rather rent the house out and emigrate. Cover some of your costs rather than sell it.
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I have been renting out 3 SA properties whist living in the UK.

Its very stressful and time consuming having to live 2 lives in different countries. Sure the rent income is nice, but its not worth it, unless you have a trusted agent / friend / family that can actively manage the property for you.
 
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