LA
Leila A

1 reviews | Active since Mar 2009

23 Jul 2021, 09:41

Read the purchase agreement before signing

I went to see the new Thaba eco estate development. I wanted to purchase a unit. I was told to reserve the unit and pay a deposit of R20 000 on their websiteand an agent will contact me. Which I did. I got an email to sign a form for the lawyers to open an account. I sent my ID etc but did not sign any document. Next I get an email to sign the purchase agreement. I read through the document: 1.As soon as the occupational certificate is issued for the unit I would have to pay rental and levies to Balwin-and not upon transfer. So if there is a delay at the deeds office or issues with the unit that has to be rectified you are still obligated to pay rental and levies. I requested this to be changed and was told it’s not negotiable. 2. Both parties physical address and email must be on the agreement-there isn’t an email address for Balwin. 3. Their appointed lawyer takes a percentage of the interest you get from the monies in trust. 4. The value of the unit you purchase is not actually the true value-your unit value is the price minus transfer duty. 5. The levies they stipulate is not the levies you will be paying- remember the swimming pools etc is only built in the last phase. So once all is done and a body corporate is elected-the running costs could be much more and therefore levies will increase In view of all the above I didn’t sign any documents and cancelled the purchase within the 5days as per consumer council rules. According to the council rules the full deposit has to be paid back to me within 15 days. The 21st was 15 days. And to make matters worse I get an email 2 days ago informing me that I need to sign a form so that they can open an account for the deposit. Vanishree Govender is the person I have to liaise with-but she never answers emails. I have now no choice but to go to the consumer council.

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