Cancelling Balwin Sales Agreement

I am also experiencing this : A review of Balwin Properties by Tlotlo K on 1 Sep 2017 Cancelling the property application. When I signed the agreement, I thought it was just for me to book the property, I wasn't aware that I was now buying the property so I believe the instructions were not clear to me and I did advise the agent that I was not comfortable with my finances at the moment. After doing an analysis of my finances , I advised Balwin within 24 hours that there is absolutely no way that I can afford the property so there was no reason for me to continue to apply with the bank but I was told I will be fined R400 K for breach of contract which is not on the agreement and I wasn't made aware when signing the contract.

I was told that the agreement will only be cancelled if "ALL" the banks decline even though I know I no longer want the property. I believe what Balwin is doing is manipulation of buyers and they should atleast 24 hour for buys to read and understand the agreement not just ensure that you sign even before you leave the complex without really understanding what the agreement really means.

Please advise what to do from here as I wouldn't even be able to afford lawyers to fight this.

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