EPISODE 152 | EVERYTHING YOU NEED TO KNOW ABOUT AN OFFER TO PURCHASE
Channel: Private Property
Date: 18/11/2020

Too often the term OTP pops up in property conversations. What exactly is an OTP? Join the discussion tonight as our guest shares everything you need to know about an offer to purchase. Set your reminder now! See you at 7pm

00:00 Show starts
01:08 Introduction by Zama
04:20 Question 1 – What do we need to ensure before we sign an offer to purchase?
05:13 Answer – Tania Marais
07:30 Question 2 – How binding is the document and for how long?
08:11 Answer - Tania Marais
12:12 Question 3 – At which point are you allowed to pull out without any penalties?
12:58 Answer - Tania Marais
16:27 Question 4 – Facebook
16:55 Answer - Tania Marais
19:01 Break
20:06 After the break with Zama
22:05 Question 5 –Facebook
22:22 Answer - Tania Marais
23:50 Question 6 – How does the Consumer Protection Act have an impact on an offer to purchase?
23:58 Answer - Tania Marais
25:14 Comment 1 - Facebook
25:30 Question 7 – What happens in situations where agents pull back information about the property after you have signed an offer to purchase?
26:11 Answer - Tania Marais
27:50 Question 8 – Instagram
28:38 Answer - Tania Marais
30:20 Question 9 – What happens in the event where the purchaser wants to pull out?
30:33 Answer - Tania Marais
32:02 Question 10 – Facebook
32:15 Answer - Tania Marais
33:14 Question 11 – Take us through the circumstances where an OTP lapses
33:33 Answer - Tania Marais
35:23 Question 12 – Are purchasers able to specify or add certain conditions in the OTP before they sign?
36:09 Answer – Tania Marais
37:02 Question 13 – Facebook
37:21 Answer – Tania Marais
39:25 Question 14 – Instagram and Facebook
40:14 Answer - Tania Marais
42:41 Closing remarks – Zama
43:53 Break
42:27 After the break with Zama
45:06 Winner announcement  
47:23 Closing remarks – Zama