Making an offer

From putting together the paperwork, to negotiating and deciding the price… let your Offer to Purchase be the standout performer that wins you the deal.

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What you should know before signing an Offer to Purchase (OTP)

Things to know before signing an Offer to Purchase on a property you love.

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Deep Dive: Making an offer

Do I have to use the bond originator suggested by my agent, or can I use any originator?

The choice is entirely up to you. Typically, estate agents establish a relationship with a particular bond originator over time, built on trust, to ensure that the customer secures the best deal and is looked after in this transaction. There is real value in this.

Do I follow up my application by checking in with the bank, or do I call BetterBond?

You can leave it all to us. We’ll track the application for you and keep you in the loop at all times.

Once my application has been submitted, how long do I have to wait for approval?

You should hear from us within 48 hours, but if it takes any longer, we’ll let you know right away. And we’ll keep you updated every step of the way.

I’ve heard of ‘approval’ and ‘final grant’. What’s the difference

The bank will ‘approve’ your loan based on your supporting documentation and your credit history. ‘final grant’ is awarded once the bank has sent a valuer to value the property. Once this happens, the transfer process will begin. Exciting!

Why do I need to sign so many documents at the attorneys?

It’s a huge decision to buy a home, and a long-term commitment! The loan period could last as long as 30 years, so all parties need to be sure of the loan terms and ensure that the paperwork complies with current legislation. We know it’s hard work, but it’s worth doing it properly.

Does BetterBond help foreign nationals?

Ja. Oui. Da. Yebo. That’s a big ‘yes’, in any language. We can happily help foreigners and non-residents wishing to purchase property in South Africa. You will simply need to comply with South African legislation. Banks here will apply their own LTV restrictions on the application.

I’m a South African citizen living or working abroad. Can BetterBond still help me?

If you want a home in your home country, we are here to help. BetterBond can guide you through the process while you’re abroad. All you require is a South African bank account and a good credit record. A deposit may also be needed.

Can I apply for a bond together with another person?

Yes! Depending on your need, we can assist with:

  • Individual applications – where you apply alone, are single or are not married in community of property
  • Joint applications (two individuals) - you may wish to apply with your partner, friend or parent. (Remember, if you are married in community of property, by law you will have to apply with your spouse.)
  • Multiple applications (three (3) or more individuals)

Just remember, when there is more than one applicant, each of you will need to have a solid credit record. And all your finances will be taken into consideration by the banks.