Offer to purchase question

babyfacek said:
I think the problem is the seller. They will be insisting on selling it as it is. The agent can only do as much. Not siding with the agent as i really don’t like them.

Went to view a property and the owners didn’t want to open the garage. They said the batteries had died and wanted to get someone to help open. Went for a second viewing and still not open. Also lost keys to a back room. They were clearly not ready to sell!
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Yeah, or it is a couple divorcing / divorced and one wants to sell and the other wants to be a victim. Walk away thank you.
 
Toxxyc said:
We're also in the market for a house (again). It's the 3rd time in about 6 years, actually. The first was a great buy at a bargain, and went smooth as butter. The second was a purchase made in good faith, great hopes and dreams and so far it's been great, but we do wish we did our homework in the area a bit better. We bought on the higher end of the scale for homes in the area, and then pushed almost R200k into the house on top of that, and now that we're looking at homes again, I am worried we'll be losing this investment if we sell the house, since we might not get what we paid.

The reason we're looking now, is simply because we are looking for more. More space, more freedom. Also less. Less people, less traffic. We saw a smallholding last week and I put in an offer yesterday. I read through the OTP documents 3 times and I'm still not entirely happy with the whole way it's structured, but that's OK, it's not too bad.

I put in an offer for what I believe the place should be sold at, considering it's a smallholding between farms, with NO security. I'm talking NO security. The piece of land is surrounded by a very badly maintained cattle fence (regular 1.2m barbed fence) that's broken here and there, and a gate that swings open with no lock. From there you can walk straight to the house. The garage has no door, and there are no security gates or burglar bars on any doors or windows on the entire house. There are beams on poles around the house, but they are definitely not working (the wires are sticking out the top), so they are useless.

There's a pool, but it is badly cracked and will need either a new lining, or it will have to be filled.

On top of that, the house has a few needs - like a coat of paint on the outside, there are numerous cracked tiles on the stoep (which completely surrounds the house on 2 sides), there's a possible termite issue, some work needs to be done in the kitchen (but that I can DIY) and the place needs a solar system. Ain't no way I'm paying R7k a month for electricity, of which R3,600-ish is just to have the damn Eskom transformer on your property in the first place.

The offer I put in is low enough that with some hard work (which I'm totally capable of) and a bit of money it can be turned into a magnificent property, and then I'm pretty sure I'll get my money's worth. It is surrounded by beautiful other smallholdings and farms, and I have no doubt the area's price will just increase. There's no squatter camps nearby, and there's a tarred road right up to the property fence. That tarred road is also not a road that passes through, so traffic on there is limited to the people who live or visit there only.

The house itself is also in great condition, there are no signs of leaks, the roof looks good (no lifting sheets), the walls look solid with no cracks that I could see in walls or flooring, doors all open easily so there's no movement there, etc.

We're hoping, but I doubt they'll go for it. It's around 21% under their asking price on the one ad, and almost 30% under asking for the other price it's listed at (which is absurd, to be honest). There's just no way I'm paying R1.9mil for a place with those issues listed, especially the security problems.

So let's see. Holding thumbs.
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You are crazy, lol.
 
babyfacek said:
I think the problem is the seller. They will be insisting on selling it as it is. The agent can only do as much. Not siding with the agent as i really don’t like them.

Went to view a property and the owners didn’t want to open the garage. They said the batteries had died and wanted to get someone to help open. Went for a second viewing and still not open. Also lost keys to a back room. They were clearly not ready to sell!
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Massive red flag this. Garage doors have manual overrides. I'd walk away from this deal based on the deception and questionable integrity of the sellers.
 
babyfacek said:
So the agent responded and said they got an offer before the show house this weekend and the seller agreed to it. However, still waiting on the suspensive conditions i.e getting a bond. So they will still accept a reasonable offer should the first one lapse. I am definitely offering less than the price they are offering as there is a bit of work to be done. He claims the other offer is full price. So will see how that pans out.

Hence why they removed the ad. Doesn’t make sense though. I thought you update it to under offer or something?
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So just feedback. My counter Offer has lasped and the agent is crickets. No response. Secretary acknowledged receipt and forwarding to agent. Phone isn’t going through. I take it offer has been rejected.
 
babyfacek said:
So just feedback. My counter Offer has lasped and the agent is crickets. No response. Secretary acknowledged receipt and forwarding to agent. Phone isn’t going through. I take it offer has been rejected.
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If the offer lapsed and you got not feedback, it is lapsed. You can always put in a new offer.
 
babyfacek said:
So just feedback. My counter Offer has lasped and the agent is crickets. No response. Secretary acknowledged receipt and forwarding to agent. Phone isn’t going through. I take it offer has been rejected.
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Walk away. There are many other houses - don't buy one you know is going to have issues off the bat.
 
So in the process of looking at purchasing our first house with my wife and I'm really happy i came across this thread a few years ago.

I have started going through the whole thread again and making a word document with the advices everyone has given over time, just so i have a centra document with all the advise in it.

Some great tips so far and must be honest, it's very daunting process this. We've gone to see a few places at this stage, but nothings jumped out at us yet. We try and make sure to look around the area for open parks first, that could be an issue in the future and then a few other advises family have given us.

Must be honest, I'm in sales and its funny how you pick up on agents sales tactics sometimes and you go, oh sure, I've heard that one before. Place we recently went to look for, the agent was very nice, house needed lots of work, as the previous owners didn't have the funds to maintain it, so there was lots of damp damage in the garage and kitchen due to the V-roof and no gutters, she says no that will be cheap to fix, about R30 000, i know family have warned us about damp and i don't think that would've costed R30 000, it will definitely be way more. As we leave she says if we want to make an offer, we better make it quick, as another buyer sent an offer sight unseen. I thought to myself that is very risky.

But so we carry on looking for a place. Places are just so expensive, my word. The joys.
 
Hey guys. What is the long wait part of the process, assuming that there are no surprises lurking?

I'm pretty much up to the rates assessment coming through and the seller being notified that they must pay up.

These lawyers don't have fancy trackers and I am a bit lost here 😁
 
mr_norris said:
Hey guys. What is the long wait part of the process, assuming that there are no surprises lurking?

I'm pretty much up to the rates assessment coming through and the seller being notified that they must pay up.

These lawyers don't have fancy trackers and I am a bit lost here 😁
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You are basically about half way there. As long as you've paid your portion, it should be another month or 2 and you'll be registered.
Edit : looking at my purchase from yonks back, if the seller is dealing the Rates and awaiting that clearance then you are on Step 19/20 of 26.
 
mr_norris said:
Hey guys. What is the long wait part of the process, assuming that there are no surprises lurking?

I'm pretty much up to the rates assessment coming through and the seller being notified that they must pay up.

These lawyers don't have fancy trackers and I am a bit lost here 😁
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I am not sure how long Rates take in KZN but a normal transfer should take between 6 and 8 weeks, less if there is no bond involved.

I see people are complaining that the first thing they receive from the transferring attorney is the invoice but that is normal practice, if paying the fees is going to be a problem then the issue gets resolved immediately and nobody's time gets wasted.

Buying a house should not be a stressfull process, I always feel sorry if people get a bad experience but most transfers goes smoothly without any problems.
 
bokka1 said:
I see people are complaining that the first thing they receive from the transferring attorney is the invoice but that is normal practice, if paying the fees is going to be a problem then the issue gets resolved immediately and nobody's time gets wasted.
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Yeah that makes complete sense now that you mention it. I was just unprepared when it happened to me.
 
hello again. So we found another place we want to put in an offer. However, i am a bit hesitant as the agent informed us there is about 200sqm on the property that is municipal servitude. I have asked them to furnish details as to the type of servitude it is. This is my first time seeing a property like this. Besides the municipality accessing it at any time and not being able to build on it, what other effects does it have? Would it make sense to buy this property? Don’t want problems infuture
 
Servitude just means the municipality might need access to something and go through your property to get it, or there are pipes or some sort of service buried beneath the property that you can't build on, and you can't do something on it. I'd find out why the servitude is there before putting in an offer.
 
Toxxyc said:
Servitude just means the municipality might need access to something and go through your property to get it, or there are pipes or some sort of service buried beneath the property that you can't build on, and you can't do something on it. I'd find out why the servitude is there before putting in an offer.
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Correct. But 200m is excessive. Most properties with be encumbered with around a 2m servitude along the 1 boundary wall and perhaps the street facing wall
 
Hazy_Living@79 said:
Correct. But 200m is excessive. Most properties with be encumbered with around a 2m servitude along the 1 boundary wall and perhaps the street facing wall
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He said 200sqm, so it's possible that it's a long yard, around 40m long, and it has a 5m wide servitude for a mains drainage that runs through it. I had a property like that (although not 200sqm), and it didn't bother me at all.
 
Toxxyc said:
He said 200sqm, so it's possible that it's a long yard, around 40m long, and it has a 5m wide servitude for a mains drainage that runs through it. I had a property like that (although not 200sqm), and it didn't bother me at all.
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Snap. I stand corrected, didn't read correctly.
 
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