Asked by the Customer on 27-08-2019 15:21:01
Question posted in the Property Law category relating to KwaZulu-Natal
Good afternoon
Please assist me.
I was in the process of buying a property through an estate agent , OTP signed, Seller accepted, home loan approved. I had signed documents with the lawyers and they still needed to send them to the bank. I had stated that I was seeking help with government subsidy and had handed in my application to the Human Settlement but unfortunately it was declined because back in 2011 which I had completely forgotten about, my mother sold her old house and bought a new one with the money left over she bought a flat and put it in my name but sold it a few months later. She put her money in an investment account. Human Settlement declined on those basis saying that I'm no longer a first time home buyer regardless of whether it was my property or just my name was used it doesn't matter. I can no longer go through with the purchase of the property because I cannot afford the transfer and bond costs. What will happen to me now? Do I owe anyone money legally if I can no longer go through with the purchase cos I can't afford the costs.
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