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I put in an offer to purchase for a property for cash. The money is in the account of the transferring attorneys pending cancellation of the bond of the seller. However the bank wants to do a valuation of the property and restructure the seller’s finances. To his frustration this has taken over 3 months. As a result no transfer has been done. Can I withdraw the offer to purchase, recoup my money and hold the seller liable for all costs incurred to date?

Category:  Property, Buying and Sellings

Region: South Africa, North-West