Asked by the Customer on 11-11-2014 15:37:22
Question posted in the Property Law category relating to Gauteng
Question posted in the Property Law category relating to Gauteng
I made an OTP on 27 Sep and Seller return OTP offer on 14 Oct14. The period to confirm bond approval was to be confirmed before 1 Nov 1014. My bond was 100 % approved and I granted permission on 28 Oct 2014 to the bank attornet to go ahead and register the bond. The bank attorney and the estate agent was cc on the email. On the 29 Oct14 the estate agent confirmed in an email to the transfer attorney that there is an outstanding electricity bill of R 79K issued to the body corporate at the complec where I made the offer to buy. Upon receiving this details I immediately requested the bank attorney to put the registration on hold in order that this matter had to be resolved and clarified.
The period to confirm bond approval was to be confirmed before 1 Nov 1014. My bond was 100 % approved and I granted permission on 28 Oct14 to the bank attorney to go ahead and register the bond. The bank attorney and the estate agent was cc on the email. On the 29 Oct14 the estate agent confirmed in an email to the transfer attorney that there is an outstanding electricity bill of R 79K issued to the body corporate at the complex where I made the offer to buy. Upon receiving this details I immediately requested the bank attorney to put the registration on hold in order that this matter had to be resolved and clarified.
1. Was I in my legal right to pu the bond regristration on hold as a result that the Body corporate financials was not in order.
2. Will I be in breacj=h of contract regarding the OTP with the Seller.
The period to confirm bond approval was to be confirmed before 1 Nov 1014. My bond was 100 % approved and I granted permission on 28 Oct14 to the bank attorney to go ahead and register the bond. The bank attorney and the estate agent was cc on the email. On the 29 Oct14 the estate agent confirmed in an email to the transfer attorney that there is an outstanding electricity bill of R 79K issued to the body corporate at the complex where I made the offer to buy. Upon receiving this details I immediately requested the bank attorney to put the registration on hold in order that this matter had to be resolved and clarified.
1. Was I in my legal right to pu the bond regristration on hold as a result that the Body corporate financials was not in order.
2. Will I be in breacj=h of contract regarding the OTP with the Seller.
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