What happens if a buyer can’t get a mortgage bond as specified in the sale agreement but still wants to continue with the sale on a cash basis? In an ideal world, the buyer waives the bond clause, the sale survives, and both parties reap the rewards. But there are also risks involved if the process isn’t handled correctly. As seen in a recent case where a buyer wanted his R1m deposit back after a sale collapsed. The seller said the buyer had waived his rights, while the buyer argued that the sale was as dead as a Monty Python parrot after the bond clause deadline had expired. Let’s see what happened in court …
It’s an exciting time, buying a property. But don’t let your guard down – cybercriminals love the lucrative pickings on offer from property transactions, and they never sleep! We’ll discuss the recent Supreme Court of Appeal case of a widow who, in trying to pay over the purchase price of a house, lost her R5.5m when her email system was hacked and she fell victim to a textbook email scam. Why did the SCA rule against her? How should she have protected herself? We’ll address those questions and share 5 steps you should take immediately to avoid falling into the same trap.
“The conditional acceptance of an offer amounts to rejection of same and not the conclusion of a contract, but may be a counter–offer.” (Extract from judgment below) A good offer
“The golden rule for the interpretation of testaments is to ascertain the wishes of the testator from the language used. And when these wishes are ascertained, the court is bound
“In life, we never lose friends, we only learn who the true ones are” (Unknown) Lending money to a friend or family member in need sounds like a natural and
If, after a property buyer has taken transfer, it turns out that a structure on the property is unlawful for lack of local authority planning permission and approved plans, who