Breach of Purchase and Sale

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • Sherwyn
    Email problem
    • Nov 2008
    • 2
    #1

    Breach of Purchase and Sale

    Hi,

    I recently sold my apartment and moved into the new premises prior to tranfer occuring. When documnets were lodged at the deeds office the purchaser decided to cancel their bond....leaving me in a situation...
    What action can i institute...
    Tags: None
    • Dave A
      Site Caretaker

      • May 2006
      • 22810
      #2
      Did the purchaser cancel the bond, or did the bank withdraw it?

      Mind you, either way it's messy.

      What part of the country are you in?
      Participation is voluntary.

      Alcocks Electrical Services | Alcocks Pest Control & Entomological Services | Alcocks Hygiene Services

        Comment

        • Sherwyn
          Email problem
          • Nov 2008
          • 2
          #3
          Hi,

          The purchaser asked the bank to cancell the bond...
          im in durbs....

            Comment

            • Dave A
              Site Caretaker

              • May 2006
              • 22810
              #4
              Well, in theory at least the conveyancer is working for you, so they should do the legal chasing and be acting in your interests.

              Being in Durban, if you don't trust your conveyancer for some reason, I can recommend Sieg as a lawyer who knows his way around this sort of stuff.
              Participation is voluntary.

              Alcocks Electrical Services | Alcocks Pest Control & Entomological Services | Alcocks Hygiene Services

                Comment

                • wynn
                  Diamond Member

                  • Oct 2006
                  • 3338
                  #5
                  Did you have a deal (Offer to purchase/Deed of sale) in place which stated that the purchaser had to arrange finance through a bank?

                  If so they cannot renage by asking the bank to cancel an already OK'd loan application. (different if the bank cancelled)

                  Doubt if it is worth your while persuing them for payment, but if suffer a loss as a result of their action you can claim that loss from them.
                  "Nobody who has succeeded has not failed along the way"
                  Arianna Huffington

                  Read the first 10% of my books "Didymus" and "The BEAST of BIKO BRIDGE" for free
                  You can also read and download 100% free my short stories "A Real Surprise" and "Pieces of Eight" at
                  http://www.smashwords.com/books/view/332256

                    Comment

                    Previous template Next
                    Working...

                    We process personal data about users of our site, through the use of cookies and other technologies, to deliver our services, personalize advertising, and to analyze site activity. We may share certain information about our users with our advertising and analytics partners. For additional details, refer to our Privacy Policy.

                    By clicking "I AGREE" below, you agree to our Privacy Policy and our personal data processing and cookie practices as described therein. You also acknowledge that this forum may be hosted outside your country and you consent to the collection, storage, and processing of your data in the country where this forum is hosted.

                    I Agree