Offer to purchase question

APoc184

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Sep 6, 2008
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Thanks to @APoc184 for starting this thread - made the journey much less painful but so much more informative :)

Pleasure.

We all learned bucket loads from this.

And eventually we will also lodge. Actually waiting for the weekly update from the attorneys to see if seller could sort out the plans and removal of the clause on the title deed.
 
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muisnes

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Mar 27, 2018
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So we put in an offer on a house in Nov last year conditional to the sale of our house & a partial bond. Bond sorted in 7 days at prime -1.12% at ABSA through OOBA. But our place did not sell before the 31 Dec deadline & the place we were looking at was sold 10 days after that.

Kept our house in the market and accepted an offer on Wednesday morning. Immediately contacted the agent to make a verbal offer on another property we have been looking at. Agent lets us know that owner signed a sale agreement last week for exactly what we wanted to offer, but subject to the sale of purchaser's property. That buyer then also lost out to a cash buyer under the 72 hour continued marketing clause yesterday.

Have just signed another OTP and hope to hell that it will be accepted and we can get the deal done this time as there is nothing else in our price bracket available available in town.

tldr: I hope my offer is accepted before I end up homeless
 

muisnes

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Mar 27, 2018
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They agreed to sell at 100k more than our offer and we are happy to give it.

It is gonna be a long wait to Monday to get it all in writing. Being from Germany the sellers want their attorney to go over the offer before they sign.
 

t_girl

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Jan 26, 2009
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So finally, after 2 long months, my bond application has been approved.

I'm assuming this would be a good time to put in my 2 months notice for the termination of my rental lease... or should I rather wait until the attorneys are ready to lodge?
 

prOd

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Nov 11, 2009
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So finally, after 2 long months, my bond application has been approved.

I'm assuming this would be a good time to put in my 2 months notice for the termination of my rental lease... or should I rather wait until the attorneys are ready to lodge?

Sho why the long wait for bond approval? But congratulations regardless!
 

Bobbin

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Oct 22, 2009
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Question...

I submitted an OTP on a place but was told I am the 2nd offer :( However with some hints that the 1st offer didn't look 100% promising, something about they may have to fork out a huge deposit to get their bond.

We received a message directly from the conveyancer on Friday that they received instructions to attend to the registration of the transfer to my name, and will be in contact once the conditions are fulfilled in the OTP.

That seems very promising to me? I doubt they would bother with me if I wasn't a primary consideration for the transfer?
 

t_girl

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Jan 26, 2009
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Sho why the long wait for bond approval? But congratulations regardless!
Thank you.

The valuation took quite long. The agent's offices were closed over Christmas/New Years, and there was some documentation required by the valuator. Was very stressful, glad that's over.
 

zerocool2009

Executive Member
Joined
Sep 4, 2009
Messages
6,594
Question...

I submitted an OTP on a place but was told I am the 2nd offer :( However with some hints that the 1st offer didn't look 100% promising, something about they may have to fork out a huge deposit to get their bond.

We received a message from the conveyancer on Friday that they received instructions to attend to the registration of the transfer to my name, and will be in contact once the conditions are fulfilled in the OTP.

That seems very promising to me? I doubt they would bother with me if I wasn't a primary consideration for the transfer?

Think the seller / agent would have confirmed first.
 

Toxxyc

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Joined
Dec 12, 2012
Messages
5,086
Question...

I submitted an OTP on a place but was told I am the 2nd offer :( However with some hints that the 1st offer didn't look 100% promising, something about they may have to fork out a huge deposit to get their bond.

We received a message directly from the conveyancer on Friday that they received instructions to attend to the registration of the transfer to my name, and will be in contact once the conditions are fulfilled in the OTP.

That seems very promising to me? I doubt they would bother with me if I wasn't a primary consideration for the transfer?
Sounds like they contacted the lawyers and got the ball rolling already. That's a bit quick, considering you don't even have bond numbers or a signed OTP already.

But yes it does sound like your offer was accepted and you kinda just bought a house (if you get the bond you like, of course).
 

Bobbin

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Oct 22, 2009
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Think the seller / agent would have confirmed first.

Well they signed our OTP before this and that's all we know from the agent/seller. We forwarded that message to the agent and just got a thank you but not much else.

There was a clause to continue to market and that should a 2nd offer be accepted (and conditions met) the 1st offer has 72 hours to meet the conditions or else it's off the table.

We're just awaiting our bond approval now (That's of course one of the conditions) but I am told it's highly likely we will get the bond. So I guess it's either a race now between me and 1st buyer or that message means we are in the lead already somehow. (I'm told conveyancers don't waste time with that sort of stuff).

Who knows :/ I guess we just play it by ear for now.
 

Bobbin

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Oct 22, 2009
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Sounds like they contacted the lawyers and got the ball rolling already. That's a bit quick, considering you don't even have bond numbers or a signed OTP already.

But yes it does sound like your offer was accepted and you kinda just bought a house (if you get the bond you like, of course).

haha I hope so. Sorry I should have added our OTP was signed/accepted by the seller as well.
 

marysms

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Jan 22, 2021
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haha I hope so. Sorry I should have added our OTP was signed/accepted by the seller as well.
I think you need to go through your accepted OTP, should be clear under what circumstances your offer comes into effect.

I doubt the conveyance would play lotto with both offers applying for bonds at the same time. My gut feel says they invoked the 72hr clause, and the 1st offer must have lapsed.
 
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