Balwin PropertiesSuspensive condition clause

Aug 04, 2020 Review updated:

Upon viewing an apartment at Paardevlei (Balwin Properties on 07 June 2020) the property agent advised we need to transfer a deposit (R20 000), sign the sales agreement (which has a suspensive condition clause) and then complete income and expenditure profile on the website. This is to start the process, nonetheless, we fulfilled the requests within 2 days. The bank came back approving 80% first (on the 25th June 2020), then they resubmitted it and came back with 100% (on the 06 July 2020). Upon viewing the 100% approval from the bank, we saw that it wont be feasible to proceed considering the monthly installments, insurance, estate levies etc. and still maintaining the life style we currently have. With this in mind we decided to not go ahead. The Developer insist on us proceeding with this deal (due to the suspensive condition clause) and is refusing to cancel the agreement and refund our deposit. Then the Bond Manager said they will process the cancellation, then she changes her story and says senior management says they not going ahead with the cancellation. I would like this to be investigated, cancel this agreement and have my deposit refunded please. This platform does not allow me to attach documents, however, if you do require documented evidence please let me know and I will gladly forward it. Thank you.

Responses

  • Nk
    Nkosinathi Bitsini Sep 18, 2020
    This comment was posted by
    a verified customer
    Verified customer

    Hi Oscar

    Has this been resolved with the Developer? I am asking becase l am in the similar situation and l will be involving my lawyers. Please advise!

    0 Votes

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