Question posted in the Property Law category relating to Western Cape
Good day,
I just want some advice on the property i signed a offer to purchase for which was in 2020 march to be exact. The property is an estate at the time it was under the city and still is. The property is beind sold for 600K and i was approved by sa home loan 2 years ago. I am currently living in a 1 room wendy house in someones yard with my aged mother. I have previously asked to rent the property by the seller while waiting for the city to attend to the first transfer. Which is to the deceased and then to me but it has never happened. I found a property close to where i stay and i have signed a OTP the seller has accepted my offer. I will submit it to sa home loan on monday. I have emailed the assigned person at the attorneys that was handling my matter with the estate but they did not get to me. I am going to their office on monday to state my matter. The only reason i am cancelling is because i have to be out where i am staying it has been while i was being told that hence i went for the one i have signed the OTP for. I understand i have breached the agreement and probably going to have to pay the attorneys. There was no agent involved it was a direct sale between my sel and the seller and the attorneys. Please advise what i could possibily pay or if i can come out of this without having to pay due to the long wait and also needing a place to stay. The agent of the property that im buying now also use the same attorneys, is it possible to they not loosing the sale because they will have to process my stuff for the new property and not just the estate.
Regards
Sisanda