Renovate to sell? Sell Voetstoets?

[Po0gsie]

I'/m in the process of buying a house, and the estate agent had the sellers sign the offer to purchase AND another new document where they had to sign that they are disclosing issues in the house regarding plumbing, structure, electrical etc etc. It says that they're not aware or have been told by a professional of any defects or maintenance currently required and that they were not informed in the last 6 months that there would be critical maintenance due on those things.

How much of that would actually stand up in court if something does happen I don't know. But I imagine its for really major major problems - considering an insurance company will be taking the risk for this house for my building insurance.

I really hope they're being honest! If I can give any advice - make VERY sure the sewerage system is fully functional and according to regulation. I speak from some very Sh***y experience...

 

[TheMightyQuinn]

You're clearly mistaking me for @Ninja'd who is in arrears.
My account is up to date I owe SABC zero rands

I owe them zero too....irregardless of what they are claiming.

 

[Pineapple Smurf]

I owe them zero too....irregardless of what they are claiming.

 

[Splinter]

Thanks. I'm definitely thinking of rather disclosing issues, than forking out to fix it and walk away disappointed.
As for PROVING I knew about the leaks - besides the existence of this thread - the knotty pine ceiling is discoloured where the leaks are so its obvious.
Just needed clarity on if its LAW to fix the roof. The agent appeared to think it was.

And you did say you have spoken to estate agents.

It's not law to have to fix the roof if you make it known and the buyer purchases with such knowledge.

It is likely that any potential buyer could use this to drive the price down further, as on face value it seems you do not have the funds to fix the roof up-front, and need to sell regardless.

 

[Splinter]

Don't use an agent...sell privately and sell voetstoots.

I hope you never buy from someone who intentionally wants to screw you over.

 

[Smokey mcpot]

I hope you never buy from someone who intentionally wants to screw you over.

I don’t think he meant it in that sense.

 

[TheMightyQuinn]

Don't use an agent...sell privately and sell voetstoots.

I hope you never buy from someone who intentionally wants to screw you over.

Sorry but what now?

Please explain how your post ties in with mine, so as to warrant that comment?

 

[RonSwanson]

Don't use an agent...sell privately and sell voetstoots.

This, because of latent defects.
Where there is clear evidence of patent defects (like a crack in a wall), you are obliged to point them out. Latent defects are another story.

If you are not in the business of selling property professionally, then you are considered a layperson and cannot be held accountable by the CPA for latent defects, unless the buyer can prove that you knew about them and /or tried to cover them up. A 'latent defect' is a material defect which was not visible after reasonable inspection, and it needs to have existed when the parties entered into the sale contract. The moment you involve an estate agent, you are contracting the services of a "professional", who ought? to know about latent defects, so any undeclared latent defects become their problem (implied warranty) if and when there are issues later. This is probably why the agents are telling you to fix things, they are just being lazy and covering themselves.

If you have to use an agent, make sure that those defects that are obvious are declared to the agent (in the mandate there is usually a fault list ). It's the agent's responsibility to ensure that the buyer is informed about them, usually in the OTP. If an agent does not want to market the property on that basis, find another, or cut them out completely (which is the easiest).

 

[The_Mowgs]

I hope you never buy from someone who intentionally wants to screw you over.

Friend of mine is currently buying through an agency from some slapgat naier. It would have taken less time if he had done it himself seeing as he needs to call council, he needs to call attorneys etc. He basically does everything whereas the agent is only coming up with excuses for the current owner.

 

[The_Mowgs]

Don't use an agent...sell privately and sell voetstoots.

Have you done this before or recently? Im in the beginning stages of going through my property and fixing things as I want to buy a new house closer to the kid's schools.

 

[TheMightyQuinn]

Have you done this before or recently? Im in the beginning stages of going through my property and fixing things as I want to buy a new house closer to the kid's schools.

Nope luckily not...not going anywhere.

 

[rietrot]

Don't use an agent...sell privately and sell voetstoots.

I don't know. Private sales may put off a lot of potential buyers just because it seems dodgy.

 

[Willie Trombone]

Hi
So my Dad is a pensioner living totally alone on a smallholding in northern Gauteng. The house has not had any maintenance done for the best part of 10 years. Aside from a few wall cracks, roof leaks (naked corrugated sheet roof) and plumbing issues, the house is not in bad shape. I'm adamant he must sell so that he can live out his retirement somewhere safe, secure and simple. Farm life is no joke if you aren't invested in actually farming, which he isn't. Any animal on this plot is a wild visitor.
After speaking to a few estate agents, I've been told the following:

You MUST repair roof leaks, and plumbing.
You MUST get the borehole and ground water tested.
You MUST get the electrics up to par and a certificate of compliance issued.

I've accepted the plumbing and electrics, but is it true the roof needs to be fixed? Upon inspection, it has been suggested I completely replace the roof which is going to cost a bomb, where I could rather just disclose the leaks and lower the asking price.
Please help... What are the actual rules here?
Thanks in advance...

Sell voetstoets IMO. Can you not get the leaks patched? Pap & Lap?

 

[Po0gsie]

Sell voetstoets IMO. Can you not get the leaks patched? Pap & Lap?

I'm trying to find someone who would do that, but 3 people so far say no, the patch job wont hold long so rather replace. They dont want their name on a patch job they wont even guarantee...

 

[isie]

I'm trying to find someone who would do that, but 3 people so far say no, the patch job wont hold long so rather replace. They dont want their name on a patch job they wont even guarantee...

just be honest to the buyers - they will probably haggle on the price - but you make sure that on the paperwork you have noted all the defects you are aware off and state as such.

 

[Splinter]

I don’t think he meant it in that sense.

My bad

 

[Nineteeneightysix]

My advice is disclose all defects to potential sellers. We purchase a home in the south coast two years ago. 1.5km from the beach. Partial seaview, double storey. Less than R1million.
Had to do a load of repairs but we knew what we got into (mostly). Many people are willing to pay less for a place they can fix or renovate.

 

[Pho3nix]

Pics of the property!

 

[Po0gsie]

Pics of the property!

Why, you interested?

 

[jambai]

Waiver the electrical coc . Just add clause to otp.in Cape Town only requirement is city of Cape Town water by law rest can be waivered. I happen to work in compliance industry and most people don’t have a clue what a electrical coc is . It is just everything up to code ,but don’t mean that there is no maintenance issues so buyer is often in for a suprise anyway .