Marto Lafitte & Assoc Inc
1|2 reviews
HN
Hlengiwe N
1 reviews | Active since Member
05 Feb 2025, 08:18
misreprentation about a bond
i wanted to buy a house, I'm a first-time buyer, i met a guy called James and he showed me 2 houses 750k and 850k, he said i could qualify for the 750k based on my salary and the rent will be R7500, and they will only be one transfer costs to pay and it won't be much and he sad i can even make an arrangement with the lawyers, he made me sign some papers and i asked why and he said its just to check if i qualify with a bank or not, i went the 2nd time too see the house he made me sign another paper that consisted of the listing like electricity i asked him why must i sign he said its to say i came back to view the house, He works for Prospectus Marking the agent, standard bank approved the loan, i told him its expensive i cant afford to pay so i wont sign the offer from a bank and i send him a WhatsApp after getting the 1st quotation, i then send an email to the bank and asked them to reduce the months and make the monthly installment less which they did but there;s wasn't much difference, i send them an email again to say no i cant afford it anymore can they please cancel it, 2 weeks passes i get an email from these attorneys threatening me that if i don't come to sign they will charge me i panicked called some lady called Antoinette to say ok i will sign the 8500 deal, after explaining to the agency that i cant afford and cancelling the bank offer they still continued to send me emails to a point that they said the seller is willing to pay 15k and i pay half for the transfer costs (it was 27k something) i wrote an email telling them that i was **** too by the agent all this monies that are coming in i was told about them i knew the rent will be 7500 and also i was not told that if i sign im binding myself, my own bank that i use even decline to give me a loan because i do not qualify im just wondering how did the other bank approve me because my take home is 14k and 5500 maintenance and after everything I'm less with not even 3k a month how would I pay for the rent of the house to start with never mind the transfer cost, so they ignored my email only the bond originators understood that there was really a misrepresentation and said they will cancel on their side and not charge me anything, but my point is they not even investigating this issue they just send emails of demand, I'm broke i don't have money how would i pay? even the letter that was send talking about paying commission to a person that got me in this mess just because I'm clueless and don't know how these things work, they saying i must pay 56k where would i get that money when im even struggling to take care of my kids, I'm a working mom of 3 kids and they all go to school, yes i wanted the house for them because i knew it was going to be 7500 monthly and there was a tenant there who was going to assist in paying rent, now when there's property insurance, electrity and water separate and municipality fees and rent is 8500 how on earth would i take an offer from the bank knowing exactly i cant afford, i even told him that i have 30k but its for the kids he said i must use it or go to the bank and get loan i told him i cant afford to pay even if i take a loan, im just waiting for the promotion at work, why must i be forced to something i wont even afford they took my bank statements there's deductions there, also transfers it was very easy to pick up that i cannot afford and they should investigate the agents they work with these agents tells us lies for the sake of getting commision they dont care about poor qualify and misrepresentations . here is the agent's email also info@prospectusmarketing.co.za, this agent kept saying nothing will expire when i was telling him that the bank offer expires withing 7 working days and i wont sign because i cannot afford it
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Replies (53)Marto Lafitte & Assoc Inc's replyOfficial
25 Feb 2025, 11:42 Our firm acts on behalf of the seller and is responsible for ensuring that contractual obligations are upheld. You signed a legally binding sale agreement to purchase the property, subject to obtaining a bond. The agreement became enforceable once your bond was granted, as it confirmed your financial qualification following a full affordability assessment conducted by the bank. The bond approval was based entirely on the information you provided to the bank, according to your sole representation of your financial position. The bond would not have been granted if you were unable to afford it.
Before signing the sale agreement, all contractual documents were sent to you for perusal, and you advised same was sent to your legal representative. By signing, you confirmed your understanding and acceptance of the terms. You had ample time to assess the terms of the agreement and your obligations in terms thereof.
We understand that you may have changed your mind not to procced, for whatever reason. However, once a sale agreement is concluded, it is not simply a matter of withdrawing from the transaction without consequences. The seller has suffered financial losses due to your repudiation of the agreement, including potential agent commission and damages, which you remain liable for as per the contract.
Our role was to notify you of your contractual obligations and the consequences of non-compliance. We encourage you to seek legal advice as we proceed further herein to enforce the seller’s rights.
MARTO LAFITTE & ASSOC INC
Before signing the sale agreement, all contractual documents were sent to you for perusal, and you advised same was sent to your legal representative. By signing, you confirmed your understanding and acceptance of the terms. You had ample time to assess the terms of the agreement and your obligations in terms thereof.
We understand that you may have changed your mind not to procced, for whatever reason. However, once a sale agreement is concluded, it is not simply a matter of withdrawing from the transaction without consequences. The seller has suffered financial losses due to your repudiation of the agreement, including potential agent commission and damages, which you remain liable for as per the contract.
Our role was to notify you of your contractual obligations and the consequences of non-compliance. We encourage you to seek legal advice as we proceed further herein to enforce the seller’s rights.
MARTO LAFITTE & ASSOC INC
Best regards,
Marto Lafitte & Assoc Inc's reply25 Feb 2025, 11:42
Official
Our firm acts on behalf of the seller and is responsible for ensuring that contractual obligations are upheld. You signed a legally binding sale agreement to purchase the property, subject to obtaining a bond. The agreement became enforceable once your bond was granted, as it confirmed your financial qualification following a full affordability assessment conducted by the bank. The bond approval was based entirely on the information you provided to the bank, according to your sole representation of your financial position. The bond would not have been granted if you were unable to afford it.
Before signing the sale agreement, all contractual documents were sent to you for perusal, and you advised same was sent to your legal representative. By signing, you confirmed your understanding and acceptance of the terms. You had ample time to assess the terms of the agreement and your obligations in terms thereof.
We understand that you may have changed your mind not to procced, for whatever reason. However, once a sale agreement is concluded, it is not simply a matter of withdrawing from the transaction without consequences. The seller has suffered financial losses due to your repudiation of the agreement, including potential agent commission and damages, which you remain liable for as per the contract.
Our role was to notify you of your contractual obligations and the consequences of non-compliance. We encourage you to seek legal advice as we proceed further herein to enforce the seller’s rights.
MARTO LAFITTE & ASSOC INC
Before signing the sale agreement, all contractual documents were sent to you for perusal, and you advised same was sent to your legal representative. By signing, you confirmed your understanding and acceptance of the terms. You had ample time to assess the terms of the agreement and your obligations in terms thereof.
We understand that you may have changed your mind not to procced, for whatever reason. However, once a sale agreement is concluded, it is not simply a matter of withdrawing from the transaction without consequences. The seller has suffered financial losses due to your repudiation of the agreement, including potential agent commission and damages, which you remain liable for as per the contract.
Our role was to notify you of your contractual obligations and the consequences of non-compliance. We encourage you to seek legal advice as we proceed further herein to enforce the seller’s rights.
MARTO LAFITTE & ASSOC INC
Best regards,