Offer to purchase question

MidnightZA said:
They had the meeting on a Thursday at 5PM. I only get home from work just before 6PM.

Last year I left work early and went straight to the AGM, it ended close to 10PM.

That is crazy, I still had to get home and prepare for the next work day. If they had it on the Friday, I could have attended and not worried about work the next day.
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Then ask the minutes of the meeting to decode what was voted on. SM and AGM and GM is VERY important
 
crysis said:
Conveyors are demanding I get it done, because my bond requires one. What can I do? Especially if work needs to be carried out.
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Tell the conveyors to wake up. You don’t have current any interest other than to become the new owner.

Also look for “runner” fees of any sort, to speed up clearance certificate issuing. That should be billed to the seller as well!

My word attorneys can be snakes!

You do nothing. If an agent is involved, pass him/her that question ...
 
crysis said:
Conveyors are demanding I get it done, because my bond requires one. What can I do? Especially if work needs to be carried out.
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www.privateproperty.co.za

Compliance certificates needed when selling your home

Sellers are responsible for providing certificates of compliance (CoC), but buyers also need to know what they entail.
www.privateproperty.co.za www.privateproperty.co.za

Quite simply you can tell them no... bond never gets approved and it's a quick exit out the OTP
 
Tell the attorneys who demands it, you are holding up the process! You have lots of time on your hands
 
zerocool2009 said:
Tell the attorneys who demands it, you are holding up the process! You have lots of time on your hands
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Bad idea.

Most OTPs have penalty clauses against delaying transfer. I will not sign an OTP (buying or selling) unless there is a penalty against the party delaying transfer.

Contact the conveyancers and inform them that it is the norm for the seller to provide COC unless specified otherwise. Thus the seller is delaying transfer and you want to enquire what action you can take in order to have them comply.

As mentioned before: check and recheck the OTP before signing anything. Once you have signed, you are committed and cannot renegotiate any of the terms
 
muisnes said:
Bad idea.

Most OTPs have penalty clauses against delaying transfer. I will not sign an OTP (buying or selling) unless there is a penalty against the party delaying transfer.

Contact the conveyancers and inform them that it is the norm for the seller to provide COC unless specified otherwise. Thus the seller is delaying transfer and you want to enquire what action you can take in order to have them comply.

As mentioned before: check and recheck the OTP before signing anything. Once you have signed, you are committed and cannot renegotiate any of the terms
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OTP's are hard to legally enforce without spending lots of money... so much money that its better just to let the OTP lapse and walk away.

In my opinion, an OTP is just a guideline of what the price is and what the terms and conditions are agreed between the 2 parties.
 
Fcon_Vpro said:
OTP's are hard to legally enforce without spending lots of money.
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That can be very true. But beware someone with a bit of money to burn who feels done in and mounts a personal crusade.

Fcon_Vpro said:
In my opinion, an OTP is just a guideline of what the price is and what the terms and conditions are agreed between the 2 parties.
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Once signed by both parties an OTP is and remains a legally binding contract with all the legal and financial implications breaking it could incur. Personally I also try to stick to my word and hold others accountable for braking theirs.
 
It is the responsibility of the occupier of the property to have a valid CoC if it is not stipulated in the OTP.
 
bokka1 said:
It is the responsibility of the occupier of the property to have a valid CoC if it is not stipulated in the OTP.
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I think the seller has to supply the COC by law law alone it being in the OTP.

Only time this might not apply is - auction.

I THNK
 
muisnes said:
Bad idea.

Most OTPs have penalty clauses against delaying transfer. I will not sign an OTP (buying or selling) unless there is a penalty against the party delaying transfer.

Contact the conveyancers and inform them that it is the norm for the seller to provide COC unless specified otherwise. Thus the seller is delaying transfer and you want to enquire what action you can take in order to have them comply.

As mentioned before: check and recheck the OTP before signing anything. Once you have signed, you are committed and cannot renegotiate any of the terms
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As a buyer it is not your responsibility and as zerocool says you have time on your side.
It is the sellers responsibility to arrange COC's and if they do not attend to it timely then they are the ones causing the delay.

Same as supplying plans.
Like it was said, auctions are a different kettle of fish :)
 
Major Boredom said:
As a buyer it is not your responsibility and as zerocool says you have time on your side.
It is the sellers responsibility to arrange COC's and if they do not attend to it timely then they are the ones causing the delay.

Same as supplying plans.
Like it was said, auctions are a different kettle of fish :)
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Plans are also a grey area, if it is not included in the OTP as a requirement and the property is sold voetstoots then it is debatable if the seller must supply the plans.
 
bokka1 said:
Plans are also a grey area, if it is not included in the OTP as a requirement and the property is sold voetstoots then it is debatable if the seller must supply the plans.
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I am loving this topic. If you buy, put confirmed plans in the OTP. Fnb loves to put that spanner in the works. You just cover yourself from endless future issues/expenditure...
 
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