An accepted offer on a property should be the beginning of a straightforward transaction. In practice, one of the most common reasons deals collapse in South Africa is that the buyer's finances were never properly qualified before they signed the offer to purchase.
Morné Prinsloo, Residential Property Specialist RE/MAX Town and Country Roodepoort & Krugersdorp, says he has seen sellers accept offers, take their property off the market, and wait weeks only to be told the buyer's bond application was declined.
"That experience is frustrating, disruptive, and completely avoidable. Over the years I have developed a qualification process that I apply before I allow any buyer to sign an OTP on one of my listings.
