Asked by Confused&broke on 01-02-2021 22:34:02
Question posted in the General Law category relating to Western Cape
I am in the process of buying property. After I signed the bond documents today, I was given an invoice for R24000, which I have to pay. I then contacted the seller's attorney and asked for their invoice. They e-mailed me an invoice for R29000. I don't have the money for those. What happens if I can't pay?
Information Requested by Lawyer
Posted by Att. Patrick on 02-02-2021 11:13:47
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You are then going to be sued for breach of contract. i.e. the offer to purchase.
The seller's attorney (the transferring attorney) will need to be paid. You should surely have made enquiries as to the cost of transfer before you signed the OTP?
The bond attorneys, surely they will capitalise the bond costs into the loan? So you don't need to pay them up front?
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