Most Recent Buying Articles
USING A BOND ORIGINATOR
The process of applying for a home loan can be involved and often time-consuming, which is why so many would-be homeowners choose to make use of a bond origination company to assist them. Bond originators have several services that will help buyers navigate the bond application process more efficiently. As experts in their field, a bond originator will be able to assess the buyer’s financ...Read more
PROS AND CONS OF BUYING A PROPERTY THROUGH A TRUST
A trust is a legal entity created by a trust founder that can be used to purchase and own property. Once a trust is created, all assets are placed into the trust by either the trust founder donating the assets to the trust or the trust buying the assets. If the assets are donated to the trust, then a donation tax will need to be paid based on the value of the assets. If the trust purchases the ass...Read more
VALUE AND MARKETABILITY – IS THERE A DIFFERENCE?
The first distinction that sellers need to make when listing their property is the difference between the actual value of their home and its current marketability. There are numerous elements that determine a home’s value, just as there are aspects that impact a home’s marketability in the current economic environment and phase of the market. While the value of a property is d...Read more
WHAT AGENTS DO BEHIND THE SCENES?
On average, for every hour that a real estate agent spends with the homeowner of the property they are selling, they will spend around nine hours out of eyesight working on the seller’s behalf. The reason for this is fairly simple – if they don’t sell the property, they don’t get paid. Most agents work on a commission basis, meaning that they will only receive payment fo...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
WHAT YOU WANT ISN’T ALWAYS WHAT YOU NEED
It can be an exciting endeavour to shop for one of your largest investments – a home. However, before getting carried away with a list of dream features, it is best to define what it is that you want in a home versus what it is that you actually need. Often things that were once must-haves aren’t that important when circumstances change. When it comes to finding the right home, it i...Read more
WHY IS HOMEOWNER’S INSURANCE SO IMPORTANT?
For most, their home will be the largest financial asset they will ever own, which is why homeowner’s insurance is imperative. In most cases, the bank will take out the homeowner’s insurance on behalf of the new homeowner, and the monthly premium can be debited to the home loan account and paid with the monthly bond repayments. However, if the homeowner would prefer, they can...Read more
WHY USING AN AGENT IS BETTER THAN SELLING SOLO
In an attempt to cut down on costs some sellers might be contemplating listing their homes without the services of a real estate professional. Although it may seem like a great way to reduce costs and avoid paying an agent’s commission, it also means that seller will have to do all the work themselves. At first glance, selling a property privately may appear to be an easy process of just...Read more
YOU GOT TO LOVE THE HOUSE YOU BUY
Property is a long-term investment, in fact, on average it takes a minimum of approximately five years to see real returns on a property sale, provided there are no other unusual circumstances. Given the fact that most people will end up staying in the home they buy for some time, it is essential to choose the right property that meets your lifestyles requirements both now and in the future....Read more
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A BUYERS MARKET
If you’ve ever read anything or spoken to anyone about property, the chances are the phrase ‘buyer’s market’ would have sprung up. It is one of those expressions that is used so often that it is taken for granted that everyone knows what it means? But what does it mean exactly? Is it simply implying that it is a good time to buy property or is there more to it than that?...Read more
SECTIONAL TITLE VS FREEHOLD OWNERSHIP
Several reasons have contributed to the growing popularity of sectional title living in South Africa, such as heightened security, affordability and a more communal way of life. However, as popular as it may be, sectional title ownership remains highly misunderstood when it comes to ownership responsibilities and legalities. To fully understand the differences between sectional title and tradit...Read more