Question posted in the Property Law category relating to Western Cape
Question value: R 150.00
Good day, I am a first time purchaser to the property. The property is the apartment which I put down a OTP offer for R755 000. The base asking price was R750 000. I duly signed the OTP document on Sunday 19 August 2018 and noted that the property's estate agent wrote down the deadline for the seller to decide on my offer. The deadline was Wednesday 22 August 2018 at 12h00. I was only made aware of the comment via whatsapp that the estate agent only told me after the deadline that the one couple is currently overseas and the other couple is in South Africa. I am of the view that once the deadline is over, then my OTP offer falls away. The estate agent mentioned that "they will accept my offer", but this amounts to nothing till their signature is validated on my OTP document. What recourse do I have to maintain my side as there is only one suspective condition which is the granting of the bond no later than 21 September 2018. I am due to put down a deposit on 7 September 2018 to the transferring attorneys' trust account. I am of the view that it is not the estate agent's fault, but that the crux of this expiry is that the one couple is overseas and the other couple is in SA. Both are the sellers to that property. So I have only my signature on my OTP document and the deadline is past due or late.
What recourse do I have regarding to this complex delay of where I am facing that the seller couple is overseas and the other one is in South Africa? I am of the view that I do not want to be in breach of the agreement.