Standard Bank
Auction property purchase Headache

We purchased a house on the Standard Bank my roof website MR23650
We paid the deposit and was very proactive in helping the process along.
As first time buyers we wanted to apply for a jump start loan (not granted still awaiting response only 90% loan)

In the process of getting access to the property I was given the number for a Mr Lottering who informed me that they have purchased the property from Standard Bank in 2010 and that they are awaiting registration. I tried getting behind the source of his claims and got hold of Danika at Barco Auctioneers who informed me of the situation. They were indeed the seller of an insolvent estate property in 2010 on behalf of Standard Bank and that they are awaiting registration after her client paid the R80 000 deposit.

Now we have paid a deposit on the property too. I have a signed offer to purchase.

How can the house have been sold to us if there is someone awaiting registration on the property?

Why can i not get any information about the situation regarding this property?

How will this issue be resolved and how long will this take?

Why was my home loan approved for only 90% if we are first time buyers?

Company: Standard Bank
Country: South Africa
City: Auction property sales

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