1 reviews | Active since Jan 2018
Bank makes it impossible to sell property
Just some background on my situation, to understand where my frustration comes from - As a newly married couple we bought our first home back in 2014 (33 Rooibok Street, Louis Trichardt/Makhado). At the time the house was a bit of a wreck, but we bought at a (what we thought) was a good price, with the idea to renovate and turn it into a lovely family home. I am certain there was some sort of *******ion involved either from the Makhado Municipality's side or the building evaluator from Standard Bank's side, as it was a large house sub-divided into two sections, without complying with any building rules and regulations whatsoever. The back portion was sold earlier and we bought the front portion. The section that we bought still had the drain in the middle of the house, the hot water geazer mounted to the wall right above the drain and a shower in the middle of the house with absolutely no ventilation or natural lighting. The ceilings were rotten as well as the carpets as a result of that. No building inspector/evaluator from Standard Bank had any issue with the state of the house at the time and our home loan was approved immediately and everything went trough without any problems. So our journey began and we started renovations. Moved the geazer to the outside of the house, broke down the shower , renovated the bathroon completely, added natural lighting via skylights, added whirley birds for some natural air flow, repaired and painted, spent a lot of money. Before we could get to moving the drain, our situation chanced, got a job offer in Australia and so we put the house back in the market and left the country. This is a year and a half later and we are still struggling to sell the house. I have lost count how many times someone tried to apply for a home loan to buy that house and failed. And this is where my frustration with Standard Bank comes from. The last prospective buyer was the final straw!!! A couple app**** for a home loan to buy the house, their home loan got approved, all documents signed, municipal fees paid, all lawyers paid and documents signed from both the buyer and sellers side, and everything went all the way through for final registration at the deeds office, when suddenly Standard Bank decides to pull out, with an absolutely bull**** excuse!! *********** as they are, they waited to number 99 to send a building evaluator, who complained about the drain that is still in the middle of the house. It wasn't a problem when they approved my home loan. Not even the geazer or the rotten ceilings and carpets were a problem for them when they approved my home loan, but now all of a sudden it is a problem. The buyers paid an almost R170000 deposit already, that is now lying in the lawyers' trust account, I paid R40000 in shotfall and penalties and is lying in the lawyers' trust fund, all lawyers fees have already been paid, and now we are stuck. We went back to the bank and asked them if we got a plumber to move the drain, if the deal will still go through, and now they are saying the area is apparently declared as a "rural area" and the bank no longer approves home loans for that area, WHAT THE ****?!?!? It is walking distance from the town's main shopping centre, with a school right around the corner and a block of flats across the park on the other side of it. Rural area? seriously?.... What is even worse, is that my home loan is already with Standard Bank, so what is the difference whether I pay them every month or someone else does? The house is still on their books? So what is Standard Bank really telling me now? Oh, sorry Mr. Claassens, we made a mistake and shouldn't have approved your home loan in the first place, but we did, so now you are *****ed for the next 27 years, because we won't make it possible for you to sell it again???? This is absolute BULL****!!!
Thank you for posting your comment.
We assure you that as an organization we are committed to providing the best possible service and assure you that this will be addressed as a matter of urgency. Kindly email us on the below email address with your Home Loan account or ID number in order for us to escalate your matter further.
We apologize for the inconvenience and undue frustration, this has caused.
We greatly appreciate your continued support
Regards
Simphiwe Mtolo
Complaint Resolution Centre
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Thank you for posting your comment.
We assure you that as an organization we are committed to providing the best possible service and assure you that this will be addressed as a matter of urgency. Kindly email us on the below email address with your Home Loan account or ID number in order for us to escalate your matter further.
We apologize for the inconvenience and undue frustration, this has caused.
We greatly appreciate your continued support
Regards
Simphiwe Mtolo
Complaint Resolution Centre
***
*** (fax)
***
