HiCould you please assist with the follo...

Asked by the Customer on 07-07-2017 16:49:01
Question posted in the Property Law category relating to Gauteng

Hi

Could you please assist with the following .We have no objection to the buyer taking occupancy of our property on the 15th of July 2017 nor did we have any objection to him taking occupation as per the contract 1st of July 2017.

However the bank guarantee received as stipulated in the contract is subject to the cancellation of an existing bond over the buyers current property and as such the sale is also subject to the sale/ transfer of his current property . To date neither his sale or transfer on his property has gone through and further his sale is reliant on his buyer receiving a pension payout from a government pension . The pension money has not materialised as yet .

Please advise as to wether we should allow the buyer to move into our house if his transaction has not concluded , even though regrettably we signed an offer with an occupation date as we were assured by the agent that all will be done and registered on the date of occupation

We are very concerned, as what happens if the money from his pension fund does not get paid out and our buyer has moved into our house .RegardsJulian

Message from the Attorney

Posted by Att. Patrick on 09-07-2017 16:52:03

Hi there,

I see that you haven't made a payment for the question, but I'm going to assist you a little. If you want to ask a follow-up question, please make the required payment.

If the sale of your property to your buyer is subject to the cancellation of his existing bond, and essentially the sale of his property, and he has not yet sold his property, there is no way in heck that I would let him move into your property. As far as I can see, you have sold your property but the sale is not yet unconditional. That means that it is STILL conditional on the sale of the buyer's property. 

If you let him in, and then the sale falls through, then you will SERIOUSLY struggle to get him out again - it could take 6 - 9 months!

Att. Patrick

Please remember this is a dialog if you have follow-up questions please make the required payment, then use the REPLY button and ask your further question. I would like to continue assisting you, but I need to concentrate on people who make payments for their questions.

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