 Good evening and welcome to episode 152 of the Private Property Podcast. I'm your host, Uzaman Dongwa Kumalo. It's a Wednesday and as we always do on every Wednesday here on the Private Property Podcast, we have somebody from the Apsa Home Long Team who's going to be helping us understand something that's so crucial when it comes to our home ownership journey. This evening we're going to be looking at everything you need to know about the offer to purchase. We know how important this document is. There's a legally binding document. Sometimes it can be quite long and as we always say, you want to make sure that you read it and excuse me and understand it and in the event where there's something that you do not understand, ask whether it's their attorney or the agent that you're dealing with. You don't just want to kind of sign something just because you want to move the process as much as possible. That's something that we're going to be exploring this evening. Why so important that you understand the offer to purchase? Some of the things that I think a lot of us sometimes have been struggling with is at which point are you able to pull out of an OTP and those are some of the things that we will be exploring. If you have any questions when it comes to understanding the offer to purchase better, then do send those through to us. You might be watching us on Facebook, on Twitter, on Instagram or on YouTube. It doesn't matter where you're watching us from, send through those questions and comments and we will be able to get to them. Now on Monday we celebrated 150 episodes on the private property podcast and seeing as we are in a very festive mood, we're of course giving away cash throughout every episode this whole week. On Monday we did that 1,000 round cash giveaway. Yesterday was 500 grand. Today is going to be 500 grand as well as tomorrow and on Friday. All you have to do to stand a chance of winning that 500 grand cash prize is to let us know how watching these podcasts has impacted you and how it's also aided you in your property journey. That competition you can only enter on our Facebook page. Do go on over to the private property Facebook page in order to be able to enter the competition. One of the big things with the competition, we announced the winner live on the podcast towards the tail end of the episode who have to be watching us live in order to claim the prize. You saw yesterday the first person whose name which you wasn't watching live and the second person was. So you have to be watching live in order to be able to claim their prize. So all the best to all of you have entered this evening. We will be announcing who the potential lucky winner is later on in due of that person is tuned in so they can claim their prize. Well to help us now better understand our property, we will rather to better understand everything relating to an offer to purchase when it comes to our property journey. I'm joined this evening by Tanya Marey who's the principal legal counsel for EPSA home loans. Tanya good evening and thank you so much for joining us. Good evening Zemma and good evening everyone. And thank you so much for making time for us you know Tanya. I think if we look at an offer to purchase it can be such an intimidating document. I mean I remember the first time I actually got to see an offer to purchase and reading through you know the various terms. Even I was a bit intimidating I think but then I you know I did a few low modules I was a low major at some point so it wasn't all too foreign but there's just something slightly intimidating you know about it and about that particular document. Perhaps before we even get into some of the nitty gritties let's explore you know why we need to ensure what do we need to ensure before we sign an offer to purchase because it is this crucial document in our property journey and you almost can't not have a property transaction without that offer to purchase and so why what exactly do we need to ensure before we make sure that we sign that offer to purchase. Hi everyone apologies for remote working I see my son has not obeyed but you do not enter sign on the study door. So yes I think what makes an offer to purchase very daunting is because for any person it's the single biggest investment you make in your life the documents are often very long and cumbersome and full of lots of legalese that people don't necessarily understand and I do think that that's you know that that's kind of daunting and you don't want to pay money to ask an attorney to have a look at it you feel you can be guided by your estate agents which which that is exactly the case they are there to guide you through standard terms. I think before even signing the offer to purchase you know you need to at least have I would say all your ducks in a row you you need to understand. Tania just one moment there and there we go now. Sorry you know what you would need to do from your side to to meet obligations that you are going to enter into because once you sign the contract it's a binding agreement and you will be held accountable for whatever you have committed to. So most importantly you identify the property you want it's very very important to inspect it go and have a look at it walk around make sure that everything that you want catered for in the agreement as far as obligations from the seller side things that need to be fixed things that you want included you know you've almost got to have a checklist of all the things that you as buyer would like to cater for in the agreement to make sure that you know you're not caught red-handed once you've already signed and there are things that you would actually like and then the seller can turn around and say it's not in the contract I'm not giving it to you. So for me those those are critical before you even look at the offer know in your own mind what are what are the things that you want to regulate to protect your interests. You know Tania you actually mentioned something so important as you are answering that question around how signing an offer to purchase is a binding document perhaps explain to us you know how binding the contract is and for how long because sometimes people have this perception that look I can just sign it and it's not really that important because no monies have you know entered the equation at that point you're merely making you know an offer or saying this is you know what you're looking at but I don't think everybody at home has a fundamental understanding of just how legally binding and how long that contract is essentially legally binding for. Yeah so I think the naming convention offer to purchase makes it confusing because it sounds like you're just making an offer and quite correctly an offer in itself is not legally binding other than on the party making the offer that they cannot renege on it for the period of time for which they've made it but once the seller accepts the offer you have made then it becomes a legally binding contract and and attorneys will refer to an agreement of sale or a deed of sale rather than an offer to purchase because the document goes through two transitions it is an offer when the purchaser makes his offer on his terms to the seller the seller then has the right to counteroffer either on certain conditions or on price and the agreement can go backwards and forwards between you know within the time periods allowed but once both parties have agreed on the terms and the seller has then accepted and both parties have signed at that point it becomes a legally binding document with risks rights and obligations for both parties seller and purchaser as far as the the duration of the agreement it is dependent on the conditions in the contract so you will often hear the term suspense of condition used and thrown around a suspense of condition is a condition that actually needs to be met before the agreement becomes binding and I think that's where the misconception comes in the agreement is binding from day one but whether that agreement can be enforced against the purchaser or seller would depend on any number of suspense of conditions so in law a suspense of condition is a condition that needs to be met in order for a contractual arrangement to become unconditional and proceed so typical examples in a deed of sale of suspense of conditions the two that are most well known is obviously making your offer subject to mortgage finance if you are you know do not have a cash amount available and you usually give yourself a reasonable amount of time within which to secure finance from a financial institution if you are unable to secure finance within the time period provided or an extended time period provided to you by the seller then the contract automatically lapses and is no longer legally binding that is what the suspense of condition means and another suspense of condition is where you possibly need to sell an existing property that you own in order to purchase the new one so you would make the the offer to purchase subject to a sale of an existing property within a certain time frame similarly if your existing property is not sold within that time frame then the agreement of sale will lapse and and you know and you know ten i think when we even explore that it is one of those things that a lot of people sometimes aren't aware of when they're signing that offer to purchase because you find that sometimes you know they don't put in a sustenance of course especially when they know that they want to make sure that the house that they're staying in is sold and only then will they be able to afford the next house they don't actually include that in because they're probably not aware that that's something you have to explicitly state as opposed to you know just say it verbally when you're speaking to the agent but it also has to be included in the offer to purchase as well and of course to our viewers at home we're taking with questions and comments when it comes to understanding the offer to purchase better and really getting grips getting to grips with some of the things that we probably struggle with when it comes to an offer to purchase now tanya i think one of the things that will also get us quite a lot in the public property podcast is along you know at which point are we able to um pull out in the event when it's so you change your mind you already signed that offer to purchase sometimes you know viewers at home especially during this period are saying look i i viewed this particular property i've been doing a number of properties i made an offer on a one on one and maybe one of the others that i had been doing and have been interested in now the price has gone down quite significantly and that's actually now the one that i want and not the one where i've signed the offer to purchase so at which point are we able to you know retract the offer and they're not being any penalties in place so so unfortunately that's a very loaded question because once an agreement becomes legally binding and unconditional and all your conditions have been met there is no pulling out of a contract merely because you've changed your mind the only way in which you would then be able to release yourself from that agreement is with the seller's agreement to it so so you would have to agree to terminate the contract and obviously that agreement would come with some hefty conditions uh estate agents commission is deemed to be earned when a contract becomes unconditional so you know there will be an agent that would want to be compensated if the deal doesn't go through and the seller may also have damages in that they have turned down other offers or they got higher offers that they couldn't accept because they were bound to the one that you're in so so the consequences of changing your mind once you've signed an agreement and it's become unconditional are unfortunately very dire and and probably the worst job for any attorney is to have to and advise a customer that comes into their office and says I really want to get myself out of this contract there are there is just no way once it's legally valid binding and unconditional the only way you get out of it is if somebody cancels on you which in in which event you will be liable for damages and commission or if you agree if the parties agree that we can cancel and move forward one of the one of the misconceptions that people have when they enter into contracts around suspense of conditions particularly where they've changed their mind is around if I just don't apply for my mortgage finance and I don't get my bond then the agreement will automatically lapse and I'll be free and clear and the problem with that misconception is that most offers to purchase allow both your seller and your estate agent to step into your shoes and apply for those mortgages on your behalf so so the advice that I give our audience tonight is don't use your suspense of conditions as a way to try and get out of an agreement rather try and be upfront if you've changed your mind and negotiate some sort of terms to be able to step out of it and the the only protection that is granted in sales of property there is a cooling off period that the law provides for the problem with a cooling off period is it only applies to property transactions where your purchase prices are less than 250 000 rand and today's markets I think you could buy very very little for 250 000 so while it's worth mentioning I know that it will not be the case in most instances and those remedies are also not available if you have taken a decision to purchase your property either in the name of a trust or a company for estate planning purposes those cooling off periods also don't apply you know Tania there's actually a question that is in line with what you've just said because as you were saying it was like this is something that one of our viewers at home had asked umatashinanya on Facebook asked you know can the OTP simply lapse when the buyer has not made effort to get financing in respect of a suspense of term or suspense of course rather what if the buyer just doesn't want to go through with the agreement can I hold them through the contract so so and there it is it's exactly that you can simply not apply for your finance but most deeds of sale have a clause in where you undertake that you will commence your finance applications within a certain period it's usually within five days and in the event that you fail to do so the estate agent all the seller is mandated you mandate them to to lodge those applications on your behalf sorry one of the other instances to try and get out is we often find that purchases contact the bank to say I don't want to proceed with this transaction anymore please withdraw my loan and it's also important for our listeners to understand that a the bank cannot merely withdraw a loan you can instruct them to do that in which event they will but that would then be a breach on your part of your agreement and you it would not release you from the terms of your agreement once your loan is approved the contract becomes unconditional any withdrawal after that will have consequences for you time and we're going to go for a quick break when we come back we'll be taking more questions and comments from viewers at home if you've ever found yourself in a situation where you were a seller and perhaps the buyer pulled out um or there were certain things that they probably didn't understand about an offer to purchase how was that experience like what did you ultimately end up deciding um at the end of you know that uh will say disagreement and if you were perhaps a purchaser and you also find yourself in a situation where you signed an offer to purchase and you know somewhere down the line perhaps you wanted to pull out of the deal did you have to you know pay the penalties or were you able to negotiate with the agent and the seller that you you know be able to walk away from that particular agreement do share that it's those experiences with us on the private property podcast we're going to go for a break and we'll be back just after this I have two episodes 152 of the private property podcast from your host Usama Ndouma Kumalo it's a Wednesday and as we do every Wednesday we have somebody from the Apsa Home Loans team uh this evening I'm speaking to Tani Marey who's the principal legal counsel for Apsa Home Loans and we're looking at everything you need to know about the offer to purchase and before we get back to that we ask for taking your questions and comments on this particular topic it is one of those things will not escape when you are looking at you know acquiring in our property so you want to better understand and offer to purchase and everything that goes into it you know can be quite intimidating and daunting signing you know the document and familiarize in yourself with everything that is in there but you really do want to make sure that you have a very good understanding of the document that you are about to sign as you know Tani Marey mentioned earlier it's a legally binding document so you don't want to just put your signature on it without fully having a you know good understanding of what is in it and as we always do also hear the private property podcast every or rather the private property platform uh every Wednesday we also bring you the first time a home buyers show that is going to with SC class and she's going to be coming just after the 6 7 45 so that's something that you can look forward to and if you're first time buying you want to better understand you know you're I think if I remember correctly this evening she actually has the non brothers and that we've had here before in the private property podcast where they'll be sharing some of the mistakes that they made when they bought their first property so if you are looking to buy your first property and you want to make sure you don't make some of those mistakes mistakes that either cost you time or money then do make sure that you tune into the first time home buyers show right now at 7 45 uh with SD class and now to go to your questions and comments I'm going to um go to the Facebook question that we've got here from who asks let's say as a buyer you stipulated in the OTP that you want to appoint your own convincing attorney but the seller refuses and wants to go with his or her attorney what happens in that regard very good question um so uh the the construct of a transfer is that the seller has the prerogative to appoint his own attorneys because you know it's his property and they are there to protect his interests um the there is of course always the misconception that the buyer is the one that pays the costs and because they pay the costs they feel that they should have the right to appoint the transferring attorney um unfortunately um the legal position and common industry practice is that the the seller has that right uh often sellers are amenable but it does depend on um you know how quickly they would like the transaction to proceed so that that is unfortunately the contract purchases uh interests are protected by their mortgage attorneys registering their bonds alternatively if they are cash buyers it's always a good idea to appoint your own attorney to protect your interest in a property transaction more particularly to hold your cash money in trust until such time as um it needs to be paid over so that you don't sit with a situation where a dispute possibly arises and your seller's attorney is sitting with your money now tanya you know how does the consumer protection act um have an impact on an offer to purchase so where you are purchasing a property from a party that does not sell property for a living or is not in the property business so it's just a private individual selling his private residence the consumer protection act does not cover that particular transaction uh you are only protected uh under the consumer protection act when your um seller is a developer or a person that either speculates in property or purchases and sells properties for a living um the the provisions of the consumer protection act with regards to property um particularly where you've inspected it or you have the right to withdraw from it within the 12 month period those provisions would only apply if you are buying from developers or or property brokers um and unfortunately if you are also buying into a trust or another form of legal entity for estate planning purposes um and the asset value of those entities exceeds the thresholds in the act then the act will also not apply irrespective of who you are purchasing from we've got a a comment here from ummasang who says at some point i had signed the offer to purchase and i retracted the offer to purchase because the estate agent held back information regarding how much the levies were for the property and and you know tanya perhaps the question there to ask is what do then you know people do in a situation like that where agents hold back certain information um about the property because sometimes it might be that perhaps i've seen for example um you know prospective purchases who who purchases rather who sign that offer to purchase and only after the fact ask things like okay how much are levies how much are rates um and then in the event where the um the you know the purchaser wants to obviously get more information but the agent is in forthcoming what are they able to do in that situation so yes that that is um that's actually very sad and it probably happens more often than we'd like it to particularly because uh purchases especially your first time home buyers are also not familiar with all the additional costs and when levies are payable or or not and when you know what rates and taxes are and and because your purchases contact with your seller is more often than not through your estate agent it does become critical to get that information um and and hence uh you know i started our conversation this evening saying before you enter into any agreement understand what what you would like in there and understand what your financial abilities are and and requirements and these questions are obviously pertinent to that um estate agents are obliged to disclose um this information they are held to a code of conduct um under the property practitioners act they are also held accountable to a council um so in the event that you get stuck in an offer to purchase that you cannot withdraw from um and you weren't given all the information you do have recourse against your estate agency um by going through the particular councils um the problem that you sit with of course is that you don't contract with the estate agent you contract with a seller um and and in that instance you know it also depends on how amenable your seller is to release you from from an unconditional agreement and we've got another question here that is coming from our one of our instagram viewers uh detour agencies that asks how long does it take before the bank decides to pull out when a seller decides not to sell can i can i apply for a different house so this is now in the event where the seller ends up changing their mind about the sale of the uh particular property and let's suppose you know the offer to purchase had already been signed by the seller and only let's say after the you've gone to the bank and they've granted you um the home loan money's having exchanged quite yes we've got the grant um but the seller then decides that they no longer want to to sell how would that effectively play out so so we've been speaking a lot about the purchasers obligations and the fact that a purchaser cannot get out of an unconditional offer to purchase um it is important to understand that your seller is in exactly the same position he too cannot merely pull out once an offer becomes unconditional uh you have remedies under the agreement in terms of which you can we talk about claiming specific performance it's a very legal term but what that effectively means is you can force that seller to proceed with the sale he may not just withdraw from the agreement all the obligations on a purchasing respective an offer to purchase are exactly the same obligations on a seller with regards to trying to withdraw after it becomes unconditional so the seller too would only be able to retract from a sale by by reaching some form of agreement the seller would also be liable for the agents commission in such an instance and not the purchaser um if they do try and retract you know this this issue of retraction is actually quite a big one Tanya we're getting a lot of questions that relate to it specifically um this one is coming from Chris Kampong who's actually asking what it's the process of retracting an offer to purchase and I can already see so many people at home almost want to know okay let's say uh there is some process what is it perhaps they'll what they'll pay the penalties if it means that they're penalties that they must uh you know pay further down they probably would rather do that than sign on for a 20-year long you know bond with the bank so in the event where you know that they're you know likely going to be penalties when you pull out what then is the process uh let's say for the purchaser in the event where they do want to retract that offer to purchase so if the offer has become unconditional and they do want to retract um it is possible that the circumstances have changed and they can no longer go through with the deal um the process is then to to approach the transferring attorney because that attorney is representing the seller to put the position forward and to to come to some sort of arrangement with the seller to ask the transferring attorney to broker that deal you can either do it directly or if you feel that your rights would be better protected by your own attorney you can then seek uh uh you know counsel to to approach the attorney on your behalf and to broker some form of agreement uh with which to terminate the other alternative of course um it's a more lengthy one and possibly a little bit more costly but you do have the option to actually take transfer of the property and then immediately put it on the market so that you can at least then get rid of it as quickly as possible and and then in that event at least you would recoup uh costs that you have paid and and um you know not be liable for commissions or penalties or damages and a long drawn-out court battle that could also cost you um a huge amount of money as they do. I've got a question here coming from uh Janine from NIGAC on Facebook who asks how does it work regarding rates payments by the seller or buyer when transfer takes place? So um your rates and taxes uh need to be paid up in advance with the municipalities and they issue what we call a rates clearance certificate that then confirms that the rates and taxes on the property have been paid up until a certain date that rate clearance certificate is required uh by the registrar of deeds when you lodge a transfer and at the time of registration that certificate needs to be valid so what would happen uh in a transfer uh process the attorney would request those figures from the municipality they would issue it in advance the seller would pay the full advance amount to get the clearance certificate once it is registered the municipalities are notified of the change of ownership they then do a calculation in the back end and will start billing the the purchaser accordingly from when they become owner. Yeah Tanya we've been speaking a lot because because our viewers have been asking a lot about um retracting from an offer to purchase but we know that you know there are also instances where you offer lapses perhaps take us through what are some of the circumstances that would lead to an OTP lapsing. So so as we've previously explained it can lapse in one or two instances one of them being um if there was a suspense of condition that has been set that that hasn't been met um another type of condition that we refer to in our um agreement is a resolutive condition so something that needs to happen in the future that would obviously um be for example the the sale of an existing property but you set a condition to say something will happen in a future date and only upon that occurrence will the agreement become valid and binding um in that instance if the future event does not happen the agreement would automatically lapse and those are the the two um main uh conditions under which an agreement can nearly lapse um there are other um circumstances which could cause an agreement to be painted but not automatically lapse um such as uh if one of the parties for example dies in the course of the transaction the transaction will be painted and the estate will have the opportunity depending on which side to either ratify the contract for it to proceed or to say we do not want this agreement to proceed in which event it will then lapse uh similarly if a person is declared insolvent um you know the agreements will be pended until such time as the party the trustee taking over the estate uh makes a decision but those are not automatic lapses by law the only two are in fact uh where there are conditions in the contract that cater for it lapsing if those conditions are not met you know Tanya before I let you go actually want to ask this one because I think sometimes when you are purchasing you probably may not necessarily be aware of this but our purchases able to you know specify certain conditions um in the offer to purchase before they sign so perhaps it could be that they spot something while they were viewing maybe they came for that last viewing before they signed that offer to purchase and they spot something are they able to say that let's say x thing must be fixed or whatever it is that they saw um before you know occupation happens or before uh the the property is essentially transferred to to them so as a purchaser are you able to add certain conditions in an offer to purchase absolutely um I think it's important for all purchasers to understand that when they are making an offer they own that offer they can make that offer on any terms that they would like to make it on it's not to say that the seller will accept all the terms and he may come back with a counter offer but it is very important to understand that it's your offer you own it you can put anything in it that you want to put in it and and that's why I started our conversation this evening saying it's very very important that you have a really good look at the property go back more than once if you need to as many times as you need to it's a big purchase have a look at absolutely everything and make sure that you have a list of all the things that you want to include uh in an offer that you make and uh I'll have this be the last question from our viewers rooms coming in from Facebook at TC Shetty asking when is the home loan amount debited to your bond account so when we look at now you've gone through the whole process at which point is that first there been order uh coming out so yes interesting question so so um when your transaction is registered um on the date of registration your your your transfer and your bond are registered on the same day and on the day of registration the bank will pay out your loan amount from your bond account and at that on that day your loan account then goes into debit with with the amount that was approved which would be the purchase price together with any other additional amounts you may have borrowed uh if that was the case as far as when your first payment is due um that that will differ from bank to bank they they have different processes and rules around when your first payment is due uh to my knowledge the most onerous one is is a 15 day period because obviously you know if you get paid at the end of the month and your transaction registers on the 30th of the month you don't want your first payment to go off on the very next day um so the banks do give you a leeway as far as that is concerned the interest on your account will start running from the day that the loan amount is paid out on registration but your repayment day will depend on which bank you finance through they they all have slightly different variations um from Apsa I can tell you that we work on what we call a 28 day rule and that is really the timeframe between date of registration and the repayment day that that you have picked so if you have picked the 30th of the month as a repayment day if your registration happens within 28 days of that date then your next you will only pay on the 30th of the following month if it happens longer than 28 days of that month then your repayment will go off on the 30th of that month but it does vary from bank to bank um I'm going to ask you this last question and I know my colleagues kill me for this one because the the two different questions and comments that have come in that are quite similar with each other the one is from um Mozi CK on Instagram saying can a buyer come up with his own um his or her own OTP and Martha also saying developers usually have a standard OTP for buyers to sign how can I then include my own terms so essentially the question then becomes how do you know purchases include their own terms uh or can they just bring their own offer to purchase often the agent that you're dealing with does have an offer to put like a template of an offer to purchase so how do they best navigate making sure that they include their own terms um or add their own terms in that offer to purchase okay so so I'm going to split that question between um what we call private sales so that would be a sale facilitated through an estate agent for a seller and uh transactions where you are purchasing directly from a developer because I think that the nuances are slightly different so so in a normal private sale where you are purchasing uh from a seller um yes estate agents prefer to use their their agreements uh that have been vetted but all estate agent contracts have a clause uh or a opening that speaks to special conditions um there will always be a space in the agreement where you can add your own conditions um and if the space provided is not long enough you can have it by way of an annexure so so a private sale is infinitely easier in that regard and estate agents are very open to accepting any terms and conditions that you may have you can also bring your own um contract when purchasing a property obviously it still has to be agreeable uh with the seller that happens mostly where there's no estate agent involved in the sale uh parties either uh agree to it themselves there's lots of different versions available on the internet um you know purchase that station restores there are those available where you buy from a developer um it becomes slightly different because more often than not you are buying something that possibly hasn't been built yet um and you're buying off plan and you haven't seen it so you don't necessarily know what additional conditions to put in um and and in those instances I think one just needs to be very clear on what the condition of that property needs to look like uh before you take transfer and that all your certificates and plans etc need to be in place which they usually are and the banks also insist on it so you are protected um but even on a developer's deed of sale if you would like to make a conditional offer and have your own conditions in you are welcome to do that and you can add it by addendum um it's it's just still dependent on the developer accepting those conditions Tanya we are going to leave it there this evening we've got quite a number of questions coming in but I'm also mindful that we're going to be having the first time a homebuyer's show with Estetra and shortly after this so we definitely have to have a part two of this conversation there's so many questions we couldn't get through uh this evening so Tanya thank you so much for making time uh for us this evening and and I'm already hope we'll be able to get you back for a part two because there's so so many questions that viewers at home have sent through to us I'm sure that won't be a problem Osama thank you very much for having me it's been great fun it's only been a pleasure thank you so much to Tanya Marie who's the principal legal counsel for Apsa home loans I promise we're going to try and arrange a part two we're seeing all of your questions want to go through as many of them as possible the offer to purchase is quite a big document it really is one of those things that you want to get right uh the first time around because not understanding it fully has so many implications that could even cost you money we're going to go for a very quick break it up to this we're going to be announcing the winner of that 500 grand cash prize remember you have to be watching us in order to be able to claim that prize we'll be back just after this back to episode 152 of the private property podcast I want to apologize to my colleague Esri Klassen we're already eating always slightly into her time that was an incredible topic I'm sure many of your home want a part two we'll speak to the Apsa home loan team to get Tanya back for us for a part two on that particular topic well to get into what I know a lot of you are waiting for is the announcement of that winner of the 500 grand cash prize and I'm going to as usual read what they've written for us and then um say who they are we do hope that they're watching us live so they can claim their prize and they wrote I've learned quite a few things that are relevant to the property to a property investor when buying the property don't ever don't ever use emotions numbers matter you always want to make sure use numbers prices can be negotiated either they'll be accepted or rejected there are various aspects of the property industry sales rentals valuations development legal and others one can buy through a company or negotiating negotiate attorney fees do your homework one can use resources such as tpn to do their research the famous word is location location and when buying for rentals have an exit strategy should things not work out Apsa has a future rental program for property investors those are actually quite a lot of things that you've picked up along the journey and this is somebody who's one of the top fan gang members uh that is uh congratulations to we're going to you know give them a minute or two in order for them to raise their hand and say that they're here in order for us to give them that uh that 500 grand cash pass I do hope that they are watching so that they get to be the winner I've seen some of the great uh you know comments so many of you have actually shared with us on this particular competition that we're absolutely loving and of course if you also want to be one of the people to potentially win that 500 grand cash prize all you have to do is to tell us what you have learned uh while watching the private property podcast and how it has impacted you over the past a couple of months share that with us down here below on our facebook page and so if you're watching us from other social networking platforms you have to go on facebook and I see in Gattayako is here uh they've raised their hands so congratulations to Gattayako Achape they get to walk away with 500 grand cash prize uh for the for this evening so congratulations to you the team will be in touch so that they can give you that 500 grand cash prize it really is that simple I see uh uh congratulations to Gattayako I say though it's it's becoming a winner's circle so the winners that have been watching so if you want to join that winner's circle make sure that you not only stay tuned and always keep watching the private property podcast that you also enter the competition well I'm going to wrap it up and I'll eat in a minute of Estie's time and of course get ready to tune into the first time home buyers uh podcast with Estie Klassen that's the first time home buyers show rather with Estie Klassen who will be speaking to their non-brothers about the mistakes that they made when they bought their first property if you're first time home buyer you certainly do not want to miss that one well I'll be back on your screen tomorrow evening at 7pm until then hoping you're staying home and staying safe