The Purchaser home-loan was approved but the amount of R 30 000.00 was held on retention. Even though the Seller sold his property Voetstoots he still attended to the maintenance work the Bank required for the retention to be uplifted. One of the things were that the house must be repainted. On 28 August we received and amended guarantee for the full purchase price and the retention was uplifted. On registration the Bank still paid R30 000.00 short even though we had a guarantee for the full purchase price. Please also note that the Purchaser also signed an new authority to pay before the amended guarantee was issued. Since the 1st of October up and till now we could not get Standard Bank to pay in terms of the guarantee. Now they want the Purchaser to sign a consent letter for the money to be released?
What is the reason for a guarantee then?
The Purchaser refuses to sign because she is not happy with the paintwork and already repainted the house again but now she wants to be reimbursed for her expenses even though it was her responsibility from day one.
From a conveyancing point of view this is ridiculous.
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