Offer to purchase question

ItherNiT said:
Isn't that a pre-requisite for a sale?
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That's what I asked a week or so ago. It seems to be the case if you want a bond, but what I haven't had an answer to is if it applies if there isn't a bond application being made. i.e. if it's a municipal or Deeds Office requirement, like the CoCs. I would still like to know.
 
Marsie27 said:
That's what I asked a week or so ago. It seems to be the case if you want a bond, but what I haven't had an answer to is if it applies if there isn't a bond application being made. i.e. if it's a municipal or Deeds Office requirement, like the CoCs. I would still like to know.
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It is not a requirement until SPLUMA comes into effect.
 
ItherNiT said:
Viewing a property I liked again today, strongly considering putting in a offer 100k under asking. People bought the place in 2018 for 30k less that what I want to offer. But I'm guessing they didn't do any renovations as bathrooms, kitchen and tiles are on the older side.

All of the other places I wanted where taken, some of them for above asking. Scared this might just be me getting some FOMO, as its the last unit available on my shortlist.

If I remember correctly there are a few things that I need to make sure are in the OTP:
- Max interest rate = prime
- Occupation on registration
- Occupation of empty home ( Owners staying there so not to concerned, about this one)

Did I miss anything?
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You can get the property professionally inspected after the seller signs the OTP, and include the option to cancel the contract should the inspection turn up any surprises?
 
TheBadMadMan said:
A couple of things to be aware of:
1) Property24 in particular generally has a delay of about a day or so with regards to automated alerts and emails.
2) The agent might be playing chess while you are playing checkers. (ie. a false sense of urgency is created by what was told to you)
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Fortunately we already bought but it was interesting to note how quick the properties fly off the hypothetical shelves down here. Even some I had favourited only remained up for three or four days before disappearing again. One house we viewed (Listed the Friday, we viewed the Saturday) had six offers on it by the time we were done viewing.
 
Supposed to have registered today, instead rejected - Apparently there is a newer deed that the owners should have...fun and games always. Thankfully I opted for the occupational rent.

Not sure why I pay transfer attorneys for deed searches then - anyone know??
 
wtg said:
Supposed to have registered today, instead rejected - Apparently there is a newer deed that the owners should have...fun and games always. Thankfully I opted for the occupational rent.

Not sure why I pay transfer attorneys for deed searches then - anyone know??
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Ja, they should have picked that up on the Deeds search. Go ask for a refund of that charge.
 
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bokka1 said:
Ja, they should have picked that up on the Deeds search. Go ask for a refund of that charge.
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So if my transfer attorney actually did the search this would not have happened?
 
I remember something in this thread that approved and current building plans will be a requirement in the future.
Does anyone have any link or source of this information?

Seems the property we are buying does not have building plans. It is fine now (banks did not need that) but it could be a huge pain in the future (when selling).
 
McGuywer said:
I remember something in this thread that approved and current building plans will be a requirement in the future.
Does anyone have any link or source of this information?

Seems the property we are buying does not have building plans. It is fine now (banks did not need that) but it could be a huge pain in the future (when selling).
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Read up on: "SPLUMA Certificate "

www.werksmans.com

SPLUMA Certificate Confusion - Werksmans Attorneys

By Fátima Rodrigues, Director and Head of the Property Law & Real Estate practice (Johannesburg) and Khathu Neluheni, Senior Associate [...]
www.werksmans.com www.werksmans.com
 
McGuywer said:
I remember something in this thread that approved and current building plans will be a requirement in the future.
Does anyone have any link or source of this information?

Seems the property we are buying does not have building plans. It is fine now (banks did not need that) but it could be a huge pain in the future (when selling).
Click to expand...

Look, why pay for someone else’s fault?

If you dont need a bond, you will need to fix it later! (Which will cost money on your side). Building plans aint just a drawing... much more than that!

If its not on spec, walk away, or put it in your otp (current owner to fix)
 
McGuywer said:
I remember something in this thread that approved and current building plans will be a requirement in the future.
Does anyone have any link or source of this information?

Seems the property we are buying does not have building plans. It is fine now (banks did not need that) but it could be a huge pain in the future (when selling).
Click to expand...
I am of the opinion that building plans are always a requirement.

You can't buy a house if the plans and occupation certificate are not in place.
 
Final loan we got was prime minus 0.675% at 100%. This is legitimately amazing given our personal circumstances. We went with a bond originator recommended by my tax person and he is not a part of the big companies like ooba or betterbond so I was hesitant at first but he made magic.

If anyone is looking for a bond originator, DM me for his details.
 
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