Most Recent Buying Articles
IS BUYING REPOSSESSED PROPERTY WORTH IT?
While many may think that a sale of execution and a repossessed property are one in the same, they do differ. If a homeowner can no longer pay their bond and are in substantial arrears, the bank will take legal action by serving the owner with a summons, taking judgment and eventually attaching the property. If the homeowner is still in arrears by the time the property has been attached, the ba
Read more
LOCATION, LOCATION, LOCATION
Regardless of whether a property professional works with commercial or residential property, all will agree on one aspect, and that is that location is one of the most important aspects to consider when purchasing a property. Property experts emphasise the importance of location because it has such a massive bearing on a property’s potential investment return. Location refers to several a
Read more
LOOK OUT FOR RESTRICTIONS ON YOUR PROPERTY
Owning a property does not mean that the owner is entitled to do whatever they want to the property. Every property in South Africa that is privately owned is subject to certain control measures, which may restrict the owner from making the changes they desire. Before purchasing a home it is in the buyer’s best interest to check the title deed to see whether there are any restrictiv
Read more
MAKING THE MOST OF YOUR PROPERTY PURCHASE
While all property purchases have their merits, they are not all equal. For a buyer to make the most out of their property purchase, they need to make the right buying decisions from the start to ensure they give themselves the best possible opportunity at a good return on their investment. Although recognising and purchasing a home at a fair market value is a good start, it is not the only thi
Read more
MOVING HOMES – PAY ATTENTION TO THE DETAILS
Although packing and unpacking boxes is a major element to moving homes, it is certainly not the only factor that needs to be considered when changing your address. When it comes to moving homes, there are also a few legal matters that will require attention. Each situation will be different, and as such there will be unique aspects that should be taken into account. For example, if you were re
Read more
PROPERTY – ASSET OR EXPENSE?
Is property an asset or expense? At first glance, the question seems to be simple to answer, of course, property is an asset. However, there is more to it than initially meets the eye. When looking at a primary residence, whether the home is an asset will be determined by whether the value of the property is appreciating or depreciating. There are several factors that will have an influence on
Read more
PROPERTY VALUE AFFECTS RATES AND TAXES
Each month homeowners receive a bill for the rates and taxes applicable to their property, but what are these municipal rates used for and how is the amount worked out? Municipal property rates are financial liabilities that owners of immovable property are required to pay monthly for basic services that their local municipality provide. Some of these services include maintenance of roads, stre
Read more
QUESTIONS TO ASK THE CONVEYANCING ATTORNEY
Ownership of a property takes more than a signature on an Offer to Purchase or for that matter the payment of the purchase price. The property needs to go through the process of transfer and needs to be registered in the new buyer’s name at the Deed Registry Office, which is where the services of a conveyancing attorney are required. Buying a home can be complicated, and there are s
Read more
SELECT THE RIGHT ATTORNEY FOR TRANSFER
Working with the right attorney during a property sales transaction can make all the difference to how long and cumbersome the process can be. During the property transfer and registration process, there are usually three different conveyancers involved – a bond attorney, bond cancellation attorney and the transferring attorney. The bond attorney represents the bank or financial instituti
Read more
SUBMITTING AN OFFER
Finding the right home is only one step in the process to becoming a homeowner. Once you have narrowed down the search and found the home that meets your criteria, the next step is to put pen to paper and make an offer to purchase. While some may find this a rather overwhelming undertaking, following a few simple guidelines will make it a far less daunting experience. What is an OTP? An offer
Read more
TIPS ON INVESTING IN YOUR FIRST PROPERTY
When deciding on investing in property for the first time, there a few key elements that investors should take into consideration, such as whether they are investment-ready and well informed on all the available options. Purchasing a property is a major commitment that should be carefully evaluated regarding your life plans and financial situation both currently and in the future. As a first-ti
Read more
CONVEYANCING ATTORNEYS – THEIR ROLE IN A PROPERTY TRANSACTION
The change of ownership of an immovable doesn’t happen when the Offer to Purchase is signed, or even when the purchase price is paid to the seller. Rather, for ownership to change hands, the property needs to go through a registration process at the deeds office, where the home is transferred into the new owner’s name – this process requires the services of conveyancing attorneys
Read more