Offer to purchase question

It’s less about moaning about fees but more about challenging/ testing bokkes hypothesis of sliding fees being risk base.

I think there’s some truth to it. But not entirely.
 
beefymoocow said:
It’s less about moaning about fees but more about challenging/ testing bokkes hypothesis of sliding fees being risk base.

I think there’s some truth to it. But not entirely.
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Its the same when taking a bond out. R2500 000 compared to R8000000....
 
Speedster said:
And so it begins... signed OTP on a new spot today. Now to see if seller accepts
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Agent let me know offer is accepted as a "second offer"as there is another accepted offer from another agent. Does this mean the other offer has to be withdrawn for mine to take effect?
 
Speedster said:
Agent let me know offer is accepted as a "second offer"as there is another accepted offer from another agent. Does this mean the other offer has to be withdrawn for mine to take effect?
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Yes. You will have to wait for the first offer to expire, be withdrawn by the buyers or rejected by the sellers.

If both parties accepted and signed. You will have to hope they do not get a bond in place before the deadline. Then it will expire as well.
 
Speedster said:
Agent let me know offer is accepted as a "second offer"as there is another accepted offer from another agent. Does this mean the other offer has to be withdrawn for mine to take effect?
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Id say your offer is still elligible until the expiry date or rejection or acceptance.
 
Speedster said:
Agent let me know offer is accepted as a "second offer"as there is another accepted offer from another agent. Does this mean the other offer has to be withdrawn for mine to take effect?
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APoc184 said:
Yes. You will have to wait for the first offer to expire, be withdrawn by the buyers or rejected by the sellers.
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We are in the same boat.
We are however already applying for "Approval in Principle".
 
McGuywer said:
We are in the same boat.
We are however already applying for "Approval in Principle".
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That's sweet. I think we'll do the same, the tricky bit is my existing house. I don't want to sell and then not have a new place lined up
 
APoc184 said:
Yes. You will have to wait for the first offer to expire, be withdrawn by the buyers or rejected by the sellers.

If both parties accepted and signed. You will have to hope they do not get a bond in place before the deadline. Then it will expire as well.
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Am I allowed asking what the deadlines in the contract are?
 
If your sale is still conditional then the first one will most probably go through.

Place your house in the market, sellers don't want subject to offers.
 
Speedster said:
Am I allowed asking what the deadlines in the contract are?
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Yes I do believe the agent should be able to tell you when the other offer expires or by when they have to get a bond in place. But they can also ask for an extension I believe. Like we did. Not sure if extension can still be made if there is a 2nd offer (yours) on the table. Hopefully somebody like @bokka1 can clarify that.
 
On our side the latest update from attorneys are:

we submitted the application for a transfer duty receipt/exemption to SARS. SARS will now request supporting documents (if required by them) before the payment of transfer duty/issuing of the transfer duty exemption can take place.
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No idea how long this takes and what happens next. But will update when I find out more.
 
I'm waiting for rates clearance from COJ. Everything else is good to go for both bond and transfer attorneys.
 
bokka1 said:
If your sale is still conditional then the first one will most probably go through.

Place your house in the market, sellers don't want subject to offers.
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Agent took photos today. Problem is I can't sell it I don't have somewhere to go. Catch 22
 
An update on my story. Deed is “missing”. Now it needs to be listed in the state newspaper first. Heard its another 8 weeks (minimum)

 
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