Property Purchase Offer Tips

Summary

When purchasing a property without legal documentation in KZN, its crucial to verify the sellers legal right to sell. Consider offering between 75,000 to 95,000 Rand, accounting for repair costs and legal uncertainties. For a rent-to-own agreement, monthly payments may be higher than standard rent, with a typical duration of 2-5 years. Consulting a local lawyer for drafting the agreement is advisable.

Full Conversation

Yes
Here are a few legal points to consider when buying a house like this in Gauteng:
- Check Ownership: Verify your uncle's legal authority to sell the house.
- Property Papers: Ensure there are proper documents for the property.
- Condition Assessment: Factor in repair costs for roof leaks and installing a geyser.
Would you like to know more about the legal process for property sales in South Africa?
Give me an amount I could offer him
Considering the lack of legal papers and the need for repairs, you might consider offering significantly less than the asking price. A ballpark figure could be between *,* to *,* Rand, accounting for the potential legal risks and repair costs. Would you like assistance with the legal process for property sales in Gauteng?
I'm in kzn
Case Rating: *
Since you're in KZN, here are key considerations for making an offer:
- Confirm your uncle's legal right to sell the property.
- Evaluate repair costs for the roof and installing a geyser.
- Due to missing papers, you might offer between *,* to *,* Rand.
Would you like assistance with the legal process for property sales in KZN?
It's a rent to own how much do I offer per month and how long
Case Rating: *
For a rent-to-own agreement, consider the following:
- Monthly Payment: Calculate based on property value, repairs, and market conditions. Typically, rent might be higher than standard to account for ownership.
- Duration: Typically *-5 years, allowing time to save for purchase or complete repairs.
Would you like guidance on drafting a rent-to-own agreement?
Yes
Case Rating: *
Drafting a rent-to-own agreement involves several aspects:
- Monthly Payment: Consider the property's condition and market rate, possibly higher to accommodate future ownership.
- Duration: Typically spans *-5 years.
- Legal Advice: Consulting a local lawyer may be beneficial.
Would you like assistance with connecting to a local lawyer for more detailed guidance?