Offer to purchase question

PotatoGuardian said:
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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Which bank is this with
 
So after looking at the place again last night and talking to the agent, decided to not make an offer. Apparently they already received an offer of the exact amount and rejected it. Place is a fixer upper and I don't think they realized that. They bought the place in 2018 and they've only run the place down. Seriously!

All the bedroom closets don't close properly, water damage to kitchen cupboards, broken shower door, crappy patch job on the tub, kids drew with paint on the wall/closets, old bathrooms, kitchen (I think the oven is beyond cleaning) and tiles through out. I mean who only cleans the cupboards 2/3 of the way up?!? Its a f*cking other color that's how dirty it is!

Really a pity, the layout of the unit was great. If another unit in the complex pops up I'm going to jump on it.
 
bokka1 said:
If he scrutinised the search properly this would not have happened.
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Keeps on getting better. Seller never fetched the deed, so now they applying for a new one. The incompetence is so strong between the sellers and their transfer attorney, match made in heaven.

Another month wait
 
PotatoGuardian said:
What part of the process is this?
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This is the tracker we got from the Transferring Attorneys
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Submitted offer 60k under asking, expires tomorrow @ 12.

Move in and stay kinda place with loads of storage in the garage. The kitchen, bathrooms and floors where all redone. Blinds on the windows, great flow to the entertainment area. A bit further away than I wanted from work, but I can live with extra few km every day if needed. Garden is compact but still enough for a small pup.

Now the waiting game starts. Fist time buying is really stressful...
 
zerocool2009 said:
SA HL's is 2 years now with Capitec, so it aint new news at all (and still jibar rate lol). Think its a bad move to team up with a homeloan firm not huge in the market for decades. But would love to apply and see how their 4 step product works to get a bond. You aint buying a car here.
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I used SAHL earlier this year, and the services of a so-called bond originator. TBH the service experience was great, SAHL nailed their colours to the mast weeks before any of the others, and gave a good rate well below prime. Eventually after some ridiculous offers from most major institutions, I realised that the bond originator was a slippery one and I fired her. Took the business straight to one of my banks and got a far better rate. Felt kind of sorry to decline SAHL after 4 weeks, but I was gatvol of negotiations with monkeys pigeons by then and I just did not have the stomach for another round.

If I ever need home finance again, I will definitely approach them, they are great.
 
Toxxyc said:
Alrighty. So we inspected the place we put the OTP on again today, because we want to start getting our heads around the whole thing. This is the best chance we've had to date to actually get a place. So we check out everything and as we leave the current tenant stop us, wants to have a chat. So, before I continue, let me explain the setup here.

The tenant is a "bed-ridden" woman, who can't move (apparently). I believe she rents from the owner, and then sub-lets to (as I have counted today) 7 other people also on the premises. This is the first time I'm actually seeing it this clearly. She lives in the main bedroom, and in the other two bedrooms are two other people. Outside is a caravan, two tents and two shacks (literal zinc plate shacks). All apparently occupied. The people inside the house share a bathroom, and the people outside share the outside toilet. There's no refuse for that many people, so they literally just dump their **** in the yard. It's as bad as it sounds.

The tenant sits in her bed all day, smoking and watching all the other sub-tenants on a big TV. That's what she does. Literally. All day.

So anyway, as we're walking out, she stops my wife and I. She wants to know if we're buying, and if we're buying, if we want to stay in the house. I said "yes". She says "OK, by when". I say "as soon as registration happens". Then the **** started forming.

She said that the new owner of the house (who is not the owner, the house is in a deceased estate and the executor is the "owner") never told her that she must move, so she didn't receive her notice yet. She also says she wants 2 calendar months notice before she must move, and she will demand it, so according to her she's only leaving the house at the end of January 2021.

So I tell her that I'm sorry, but as I have it her contract expired already, AND the executor gave her notice to move. I also told her my contract stipulated that I get occupation on registration. She then said "thank goodness, still gives me 3 months". So I said "no no, wait, it can go as quickly as 6 weeks because I already have pre-approval, my paperwork is in order and the OTP is already in". Then she started going on about not receiving notice and she has rights. I told her the day the registration goes through, that is the day I rip out all the carpets and floors in the entire house, I break down the walls and tear down both the kitchen and the bathroom. She just kept quiet. So I said she must take it up with the owner, and left.

So, who's bought a house with a stubborn, sub-letting tenant before? I don't mind fighting the seller, but I'm not fighting the tenant for ****. My OTP states that I get occupation on the date of registration, but it doesn't state what rent I'm due if I can't occupy. That was one of the sections that was left blank.
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You have a problem. Huur gaat voor koop.

Edit: I see that @Gozado already mentioned this. :thumbsup:
 
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Toxxyc said:
what we want is a very good price for a house this size, on a yard of this size, in this area. It's not a bargain of a lifetime, but it's possibly the only chance I'll get to buy a property that I can renovate to what I want (in other words, choose the entire fit and finish) in my lifetime.
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Yep, you need space for all those stills, and mash fermentation vats :love:
 
Toxxyc said:
Yep. So for now we're just browsing, will put in offers where we think we stand a chance. I'm no longer in a rush to by. We went and viewed the most wicked small place in Pretoria over the weekend and as mentioned, was sold the day before. I would have offered asking price as well, just had to be quicker. Bummer. Would have been perfect. Right size, good condition, OK area, under budget. Eh.
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Good for you. Need to update that list of yours with "Never, ever set your heart on a place."
 
PhireSide said:
On a side note. The property market in PE is beyond crazy.

A property got listed and I was notified of it by the Property24 app but by the time I opened the listing it was gone again. Called the agent and asked why they took it down? He said that between the time of listing (09h00) and when they took it down (15h30 ish) they had over forty(!) phone calls of people wanting to view, so they had to take it down so that the agent could make arrangements for ten of those to start viewing.

Absolutely mental.
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Seems to be a shortage of good properties in PE right now, I know someone who has had a similar experience.
 
zerocool2009 said:
I got the same one... pretty useless in the sense, its transport side only and not combined (if the seller have a bond)
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Both my bond and transferring attorneys use the system. So I receive 2 updates depending on what it is. System works well for the most part.
 
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