Offer to purchase question

[newby_investor]

Awesome news! Glad you could come right!

It was a schlep though. Chasing banks is fairly challenging, especially during COVID because everyone is working from home, so there isn't even much point to going into the branch. Except to use their telephone.

 

[staunchy20]

First time buyer so used ooba to negotiate rate. Nedbank came in at lowest 6.55% (main bank) with Absa just loosing the plot st 9.5%.

Somehow I missed reading @zerocool2009 method.

 

[Sinbad]

Jfc.

Good day All. Apologies for late notification but we have been trying to resolve the registration issue.

Unfortunately it appears that one of the lodgments has been misplaced by the deeds office staff and accordingly we were unable to register today. All conveyancers will be looking for same tomorrow to do an urgent registration.

We apologize for the inconvenience caused but unfortunately this is out of all our hands. We shall advise the outcome tomorrow as soon as possible.

Kind regards

 

[mercurial]

You can't make it this **** up. Absolutely ****ing useless government cunts.

 

[Marsie27]

Jfc.

Good day All. Apologies for late notification but we have been trying to resolve the registration issue.

Unfortunately it appears that one of the lodgments has been misplaced by the deeds office staff and accordingly we were unable to register today. All conveyancers will be looking for same tomorrow to do an urgent registration.

We apologize for the inconvenience caused but unfortunately this is out of all our hands. We shall advise the outcome tomorrow as soon as possible.

Kind regards

So have I got this right? The conveyancing attorneys (or their staff) get to scrabble around at the Deeds Office to find the missing document? Or do they find a copy of said document and take that in?

 

[Sinbad]

So have I got this right? The conveyancing attorneys (or their staff) get to scrabble around at the Deeds Office to find the missing document? Or do they find a copy of said document and take that in?

No idea.

 

[Sinbad]

So have I got this right? The conveyancing attorneys (or their staff) get to scrabble around at the Deeds Office to find the missing document? Or do they find a copy of said document and take that in?

Well whatever they had to do, it's done. Transfer registered.

How long does the money take to arrive?

 

[zerocool2009]

So have I got this right? The conveyancing attorneys (or their staff) get to scrabble around at the Deeds Office to find the missing document? Or do they find a copy of said document and take that in?

Is something is missing, it will be rejected! The deeds office have 3 stages to verify the same thing!

One lodged, its in the deeds officers hands.

If something is missing: rejected, fix and relodge

 

[newby_investor]

First time buyer so used ooba to negotiate rate. Nedbank came in at lowest 6.55% (main bank) with Absa just loosing the plot st 9.5%.

Somehow I missed reading @zerocool2009 method.

In retrospect, with the amount of leg-work that I had to do, I don't know if I'd DIY again. I might just go for a bond originator.

That being said, I'm not sure that I would have gotten the neat interest rate that I did. So all's well that ends well I guess.

 

[Speedster]

In retrospect, with the amount of leg-work that I had to do, I don't know if I'd DIY again. I might just go for a bond originator.

That being said, I'm not sure that I would have gotten the neat interest rate that I did. So all's well that ends well I guess.

Bond originator got me three solid offers, lowest of which was prime less 1.25%. I'm not sure I would have done better myself

 

[PotatoGuardian]

We got an update from our transfer attorneys. Deeds office (Cape Town) said deeds can only be lodged until 4 December to be registered this year (which is chill because there is still a lot outstanding so had no expectation of this year).

They will reopen on the 5th Jan but they anticipate high volumes in the first week so they expect delays and a longer turnaround time. Hoping it gets done by end Feb as we just gave notice on our lease

 

[Speedster]

We got an update from our transfer attorneys. Deeds office (Cape Town) said deeds can only be lodged until 4 December to be registered this year (which is chill because there is still a lot outstanding so had no expectation of this year).

They will reopen on the 5th Jan but they anticipate high volumes in the first week so they expect delays and a longer turnaround time. Hoping it gets done by end Feb as we just gave notice on our lease

On the other hand, somebody has to be first in the queue come January so you could potentially get through the system really quickly

 

[PotatoGuardian]

On the other hand, somebody has to be first in the queue come January so you could potentially get through the system really quickly

Also true, although I assume there might be a backlog from this year as well.

Not too worried as we actually don't want the house earlier, just hoping we don't have to move before it's really ours

 

[Speedster]

At what stage are the transfer duties (taxes) payable?

 

[APoc184]

At what stage are the transfer duties (taxes) payable?

They send the pro forma invoice through quite early in the process. Like 2nd week after OTP has been accepted and everything starts with the attorneys

 

[zerocool2009]

At what stage are the transfer duties (taxes) payable?

It depends on what your OTP say. Its part when you get your invoice from the transport leg

 

[zerocool2009]

They send the pro forma invoice through quite early in the process. Like 2nd week after OTP has been accepted and everything starts with the attorneys

If you buy cash! Ask to pay the full price with fees before lodging only. Investing it in a trust (the interest rate is super low) , and you need to pay admin and fidelity fees!

 

[Thor]

Finally have access to see my home loan on standard bank.

Only took them 4 physical branch visits to get it done.

Fkcing useless bank, but gave me a good rate so meh got to suck it up.

 

[Speedster]

It depends on what your OTP say. Its part when you get your invoice from the transport leg

Why would the OTP say anything about the taxes?

 

[Neuk_]

Finally have access to see my home loan on standard bank.

Only took them 4 physical branch visits to get it done.

Fkcing useless bank, but gave me a good rate so meh got to suck it up.

I have always had great service from Standard Bank, been with them since the mid 90's when I was a teenager, the only 'issue' I ever had was when applying for a home loan. They would not move 0.03 percentage points to match ABSA's offer, so I never went with them and I can't remember bothering to apply for vehicle finance with them when I bought the Touareg, I went with ABSA again who had the best offer.