01
Sep
2011
Online auctions – how it works at MyRoof (Part 3)

The final auction process at MyRoof, the “Acceptance of an offer”, will be explained in this blog.

Acceptance of an offer:

Once your offer has been accepted on a property, you will be notified via e-mail as well as SMS. In the acceptance e-mail you will be provided with a link that will take you to your Offer to Purchase. You can then print out the Offer to Purchase, fill it out and send it back to us. As soon as we have received it, we will forward it to the seller to counter sign. Once the seller has signed the contract and sent it back to us, we will forward it back to you.

If you require finance for the property, you can either try to obtain a loan yourself or use MyRoof as we can submit your finance application to all banks on your behalf. You will have 14 days to obtain finance and 30-45 days if you are paying the property cash.

As your finance application proceeds, our website will be updated until such time that your finance has been granted or the full purchase price has been paid. As soon as the full purchase price of the property has been arranged or paid, the transferring attorneys will start to register the property in your name. As soon as the registration is completed you will be the owner of the property.

This is the final process when buying a property on auction at MyRoof. Do you agree that the whole process is quite simple?

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