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Related South Africa Law Questions
NOt yet. I signed an OTP on 9 April 2020 and my reason for
I signed an OTP on 9 April 2020 and my reason for selling was purely because of the daily commute whereby I spent a total of four hours in traffic per day. When Covid19 lockdown kicked in, we were then working from home and the daily commute was/is no loner needed. I am now being sued for commission fees from the estate agents because I've cancelled, I really think my reason for cancelling is valid because Covid 19 and its effects were unforeseen.… read more
Freddie Lombard
Freddie Lombard
Attorney
Bachelor's Degree
3,824 satisfied customers
I signed an OTP for R635kand the bank only offered me a loan
I signed an OTP for R635kand the bank only offered me a loan of R571K.Can I canscel the OTP since I wont afford to raise a deposit or can i request that I offer a lower amount than signed on the OTP?. … read more
CaseLaw
CaseLaw
Attorney
Master's Degree
2,427 satisfied customers
I want to ask. I want to cancel an otp a house as a seller
Hello Pearl JA: What state is this in? It matters because laws vary by location. Customer: Hello Pearl JA: What steps have been taken so far? Customer: I want to ask JA: Anything else you want the law… read more
CaseLaw
CaseLaw
Attorney
Master's Degree
2,427 satisfied customers
I signed an OTP for a property off plan & paid R400k
I signed an OTP for a property off plan & paid R400k deposit. My husband at the time agreed to sign as guarantee, now my ex he refuses to. The developer is running late & if r 5 months late with the t… read more
CaseLaw
CaseLaw
Attorney
Master's Degree
2,427 satisfied customers
Facts: 1. I signed a Offer to Purchase to buy a property 2.
Facts: 1. I signed a Offer to Purchase to buy a property 2. I cancelled the transaction very late in the process (just before being submitted to the deeds office) due to circumstances out of my contro… read more
Freddie Lombard
Freddie Lombard
Attorney
Bachelor's Degree
3,824 satisfied customers
My wife and I signed an OTP on the 15th of May 2017 to buy a
My wife and I signed an OTP on the 15th of May 2017 to buy a property valued at R2.75M. There was a suspensive condition stating that we had to get a loan in principle. We received a 100% loan in prin… read more
Freddie Lombard
Freddie Lombard
Attorney
Bachelor's Degree
3,824 satisfied customers
Barend, I need information regarding an OTP that I signed, and the back-up offer
Hi Barend, I need information regarding an OTP that I signed, and the back-up offer for the house was "pushed" in front of mine. I signed the OTP on the 2nd of March, with no suspensive clauses except… read more
Freddie Lombard
Freddie Lombard
Attorney
Bachelor's Degree
3,824 satisfied customers
Good evening, I was wondering if you could help me with a property
Good evening, I was wondering if you could help me with a property concern. My wife and I recently "acquired" a residential property in Johannesburg. We signed the OTP on 13 January 2015 with both of … read more
Shaie Zindel
Shaie Zindel
Attorney
B.A. (RAU); BProc (RAU)
1,250 satisfied customers
I have signed an Offer To Purchase on a new development with
I have signed an Offer To Purchase on a new development with suspensive conditions, obtaining finance and selling existing house. I got approved with only financial institution but the interest rate o… read more
WCLawyer
WCLawyer
Attorney
Bachelor's Degree
9,038 satisfied customers
Hi. i recently signed an OTP on 9 April 2014 and did not get
Hi. i recently signed an OTP on 9 April 2014 and did not get 100% finance fomr any institiution wihtin the initial 30 day period. The contract stated that if this was the case, then there would be an … read more
Freddie Lombard
Freddie Lombard
Attorney
Bachelor's Degree
3,824 satisfied customers
Good evening, At the beginning of May 2014 an estate agent
Good evening, At the beginning of May 2014 an estate agent knocked on our door (we are renting the property) and convinced us to put in an offer to purchase. We signed the offer to purchase 17 May 201… read more
Freddie Lombard
Freddie Lombard
Attorney
Bachelor's Degree
3,824 satisfied customers
I signed an offer to purchase a house with a number of conditions
I signed an offer to purchase a house with a number of conditions I needed the seller to agree to in order for the contract to be valid.This is stated in one of the clauses as such 'this offer is subj… read more
Freddie Lombard
Freddie Lombard
Attorney
Bachelor's Degree
3,824 satisfied customers
I have an offer to purchase with a 72 hour clause which I would
I have an offer to purchase with a 72 hour clause which I would like someone to explain to me please as the agent has now changed her story from what we were told before signing an papers… read more
WCLawyer
WCLawyer
Attorney
Bachelor's Degree
9,038 satisfied customers
The 5 day cooling off on an Offer to Purchase. There
The 5 day cooling off period on an Offer to Purchase. There is in section 29A of the Alienation of Land Act a cooling off period whereby an offer to purchase maybe revoked if the value is equal to or … read more
WCLawyer
WCLawyer
Attorney
Bachelor's Degree
9,038 satisfied customers
Good day, We are in the process of selling our house. We
Good day, We are in the process of selling our house. We finally got an OTP with a condition they sell their house. We accepted. We then put an OTP on a house we liked. Our agent didnt hear us that we… read more
Mike Otis
Mike Otis
Legal Advisor
Master's Degree
2,094 satisfied customers
My husband and I put in an OTP on a property, with the condition
My husband and I put in an OTP on a property, with the condition of finance approval and successful sale of our current property (which is already sold and we are awaiting transfer). The estate agent … read more
Mike Otis
Mike Otis
Legal Advisor
Master's Degree
2,094 satisfied customers
Hi I will be as brief as possible: I sold my house. The
Hi I will be as brief as possible: I sold my house. The buyer got his bond approved in April. Shortly after that is financial position apparently changed. He still took occupation mid-May. Transfer wa… read more
inciteadvisor
inciteadvisor
Commercial Lawyer
Post graduate degree- LLB
814 satisfied customers
my financial situation has changed, a 90% bond is approved
my financial situation has changed, a 90% bond is approved but I dont have the money for the deposit and transfer fees, can I cancel this sale?… read more
WCLawyer
WCLawyer
Attorney
Bachelor's Degree
9,038 satisfied customers

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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