Asked by the Customer on 15-05-2014 09:24:42
Question posted in the Consumer Protection Law category relating to Gauteng
Question posted in the Consumer Protection Law category relating to Gauteng
Me and my wife have signed an offer to purchase a property last Friday for R480k. I have tried finding information online about the 'cool off' law from 2008 but what I have found so far has been vague. The big problem area is the 'result of direct marketing' clause in the law. My wife responded to an online ad for us to go and see the property. Does the CPA still protect us while we are still within the 5 day period?
Message from the Attorney
Posted by Att. Patrick on 15-05-2014 19:45:30
Hi there and thank you for your question,
Regarding the consumer protection act's protection available to you, there is a cooling off period of 5 days that you can use if the property was purchased by you as a result of direct marketing. Exactly what direct marketing entails has still to be determined, but I'm pretty sure that your wife responding to an online advert would not be considered to be direct marketing. You would need to explain exactly what the advert looked like, and how she responded.
Read more here on this point: http://www.property24.com/articles/buying-property-cooling-off-period/13086
Regarding the cooling off period in terms of the alienation of land act, you are entitled to cancel the sale of any property within a period of 5 days, but ONLY if the value of the property is less than R250,000, which does not apply to you. There are other limitations, e.g. the purchaser can't be a close corporation, or company. Also the property could not have been purchased at an auction.
Read more here on this point: http://www.eprop.co.za/profiles/property-leader/item/10353--Cooling-off-threshold-to-be-increased-for-immovable-property-transactions.html
So, your only option is the consumer protection act.
If you seriously wanted to go down this route, my advice would be to meet with an attorney tomorrow in order for him/her to assist in drafting the proper letter to cancel the sale of property. You only have 5 days, so you can't delay.
I can't refer you to a specific attorney, but I can direct you to the following two websites, www.findanattorney.co.za OR www.attorneys.co.za, where you can find a list of qualified attorneys in your area who will be able to assist you further!
If there is a part of the answer which you need more advice on, or clarity please continue in this same thread instead of opening a new question.
Att. Patrick
Please remember this is a dialog if you have follow up questions please use the REPLY button and ask. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered. I hope you found my answer helpful, and you have finished asking your questions, please click on the GREEN ACCEPT button in order to mark the question as closed.
Regarding the consumer protection act's protection available to you, there is a cooling off period of 5 days that you can use if the property was purchased by you as a result of direct marketing. Exactly what direct marketing entails has still to be determined, but I'm pretty sure that your wife responding to an online advert would not be considered to be direct marketing. You would need to explain exactly what the advert looked like, and how she responded.
Read more here on this point: http://www.property24.com/articles/buying-property-cooling-off-period/13086
Regarding the cooling off period in terms of the alienation of land act, you are entitled to cancel the sale of any property within a period of 5 days, but ONLY if the value of the property is less than R250,000, which does not apply to you. There are other limitations, e.g. the purchaser can't be a close corporation, or company. Also the property could not have been purchased at an auction.
Read more here on this point: http://www.eprop.co.za/profiles/property-leader/item/10353--Cooling-off-threshold-to-be-increased-for-immovable-property-transactions.html
So, your only option is the consumer protection act.
If you seriously wanted to go down this route, my advice would be to meet with an attorney tomorrow in order for him/her to assist in drafting the proper letter to cancel the sale of property. You only have 5 days, so you can't delay.
I can't refer you to a specific attorney, but I can direct you to the following two websites, www.findanattorney.co.za OR www.attorneys.co.za, where you can find a list of qualified attorneys in your area who will be able to assist you further!
If there is a part of the answer which you need more advice on, or clarity please continue in this same thread instead of opening a new question.
Att. Patrick
Please remember this is a dialog if you have follow up questions please use the REPLY button and ask. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered. I hope you found my answer helpful, and you have finished asking your questions, please click on the GREEN ACCEPT button in order to mark the question as closed.
Answer Accepted
This answer was accepted on 16-05-2014 08:00:28
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