ABSA and their *********** attorneys charging interest at the hand of an innocent purchaser!!!!!!!!!!!!!

Good day,

I purchased a property on a ABSA auction at 11 Cotswold Mews (Lweya) Clause 4.7b) of the Conditions of sale states “if the transfer is delayed by the purchaser, the purchaser shall be liable for interest at the rate of 08.20% nominal per annum calculated daily and compounded monthly, on the purchase price from date of sale to date of registration of transfer.” The conditions of sale was signed into on the 24th of January 2020. Upon signature of the conditions of sale the levies and rates and taxes amounted to a combined total of R101 129.85 and as a result of the great delay by the court I ended up paying a total of R173 364 which means I paid +-R72 000 more than what was budgeted for as a result of the delay on the bank and the courts side. I was charged interest by the bank from the date the court granted the order to pass transfer, 12 December 2020 until date of registration which was August 2021. The interest charged was more than R20 000.

I have to make the following known to you since the order to pass transfer was granted in December, the bank immediately started charging me interest - even though i was not the cause of delay. AFTER the order was granted in December Strauss Daly closed for the December period, then i January when we wanted to take transfer the lady dealing with the file left and our file was handed to another lady at Strauss Daly with the name of Tracy. After the file was eventually figured out by Tracy (a month or two later) she fell sick with COVID and was home for almost another month. Upon he return I app**** for the clearance figures myself as the purchaser and took the documents for signature to the sheriff myself. I constantly threatened Strauss Daly telling them I will complain to the bank.

I have more evidence substantiating that this interest charged by the bank to me is out of line and i expect an urgent refund. I already suffered great loss here as a result of the bank and courts delay with regards to levies. It is not good business practice to pass interest on to an innocent purchaser.

Your urgent assistance herein will be appreciated.

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