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Approval in principle
Property Finance

Approval in principle

Buying a home can be a stressful process, particularly in a competitive market where you need to move quickly or run the risk of losing out on buying the property of your dreams. Being given an ‘approval in principle’ from a financial institution can play a significant role in moving ahead with the property agreement contract.

April 2, 2018
Offer to Purchase: Part 2 - Tips for Buyers and Sellers
Contractual Matters

Offer to Purchase: Part 2 - Tips for Buyers and Sellers

There are aspects relating to the basic sections within a contract of sale to consider, like suspensive conditions, agent commission, VAT & Transfer duty.

March 2, 2018
Offer to Purchase: Part 1 - Terms of the Agreement
Contractual Matters

Offer to Purchase: Part 1 - Terms of the Agreement

There are three essential elements which must be included in order for the OTP to be valid and legally binding. In addition, here are more aspects to consider.

March 2, 2018
South Africa’s VAT increase for property transactions
Market News

South Africa’s VAT increase for property transactions

For the first time in 25 years, the Value Added Tax (VAT) rate in South Africa will be increased by 1% from 14% to 15%. Here’s what this means for property transactions…

February 23, 2018
Buying a property for someone else
Contractual Matters

Buying a property for someone else

While a less common scenario, it is possible for an individual to make an investment in or finance the purchase of a property with the intention of another becoming the owner, and although the transfer process remains largely unchanged, there are a few things to be aware of.

February 4, 2018
Rent-to-buy agreements
Contractual Matters

Rent-to-buy agreements

The reality of the current South African economic climate is such that a considerably large number of bond applicants are unsuccessful, while sellers often experience difficulties in selling their properties at a desirable price. The rent-to-buy option is one that addresses both the buyer and seller’s concerns.

February 4, 2018
Borehole regulations you need to know
Legislative Guidelines

Borehole regulations you need to know

Putting in a borehole on a property is often an attractive option for owners as it provides a convenient and cost-effective source of water. But before drilling for water, be sure to comply with all relevant regulations to avoid unpleasant penalties.

February 4, 2018
Why do I need a transfer attorney?
Contractual Matters

Why do I need a transfer attorney?

The transfer attorney will take responsibility and oversee the full transfer process from the time of instruction through to registration in the Deeds Office.

November 24, 2017
The Deeds Office purpose and process
Legislative Guidelines

The Deeds Office purpose and process

All title deeds – documents that confirm ownership of immovable property that is land – are registered, processed and stored by the South African Deeds Office.

November 24, 2017
How to avoid special levy shock
Sectional Title Governance

How to avoid special levy shock

A special levy can come as a rather unpleasant shock to sectional title unit owners when the added expense was not expected. As such, property owners should make themselves aware of what to expect when such costs are incurred.

November 24, 2017
Buying Property on Auction
Contractual Matters

Buying Property on Auction

Buying a property on auction, while potentially offering valuable investment opportunities, can be daunting to those not familiar with the process. But with some basic background and know-how, it need not put off potential buyers.

November 2, 2017
Body corporate rules
Sectional Title Governance

Body corporate rules

Body corporate management and conduct rules play an essential part in the effective and smooth operation of a sectional title scheme, so it’s crucial that owners and trustees are aware of the requirements in drawing up and amending these rules.

October 30, 2017
Two pieces of legislation you should know about
Legislative Guidelines

Two pieces of legislation you should know about

It's important to stay informed about current legislation like the Protection of Personal Information Act (known as POPI) and the Property Practitioners Bill.

September 27, 2017
Body corporate AGMs – why you should attend
Sectional Title Governance

Body corporate AGMs – why you should attend

Sectional title property owners often view the body corporate annual general meeting (AGM) as a formality or even an inconvenience, but attendance at these meetings is an important part of sectional title ownership and should be viewed as such.

September 27, 2017
OTP: A Binding Contract – Think Before Signing
Contractual Matters

OTP: A Binding Contract – Think Before Signing

An offer to purchase (OTP) can be seen as the quintessential document governing the sale agreement between the seller and purchaser.

August 29, 2017