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inciteadvisor
inciteadvisor, Lawyer
Category: South Africa Law
Satisfied Customers: 795
Experience:  Registered Corporate lawywer
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I have sold my property and have asked for R100 000.00 to be

Customer Question

I have sold my property and have asked for R100 000.00 to be bridged but now I must pay up to R50 000.00 in interests after only 2 months that does not sound right. What should I do? Also I have been asking for a date for me to vacate the premises which was upon transfer which only went through 2 days ago and have been told that the attorney is retaining occupational rent of about R14000.00 how can they do that and I am moving out on Saturday?
Submitted: 4 years ago.
Category: South Africa Law
Expert:  JW Fourie replied 4 years ago.
Who did you borrow the money from? From the attorney?

Have the transfer been canceled?
Customer: replied 4 years ago.

Hi this is what happened: I sold my house for R1400 000.00, R 900 000.00 goes to cover the existing bond and I was suppose to come out with R500 000.00. But because I needed R100 000.00 from the deposit of the sale I bridged it telling the attorney that I dont want money from the loan sharks and he kept stalling until the literally the very last second. when we came to sing for it he had another contract drawn up fron a compay that does loans at 32.5% interested and told me if I dont sing it im going to have to wait till transfers goes through. So now he retained monies for electrical and heaven knows what as I did not receive a statement to say he pulled off for, and all I received from the R500 000.00 is R329 000.00

Expert:  JW Fourie replied 4 years ago.
Who did you borrow the money from?

Why do you need to pay occupational rent?
Customer: replied 4 years ago.

The buyer wants to withhold occupational rent and transfers went through on Wednesday and I left Sunday so she wanted occupational rent for a month. And he had me sign a paper from another loan company which had nothing to do with the deposit.

Expert:  JW Fourie replied 4 years ago.
Was there an agreement pertaining to occupational rent? Did you leave the property that you have bought on the Sunday?