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Most Recent Buying Articles

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PROPERTY – ASSET OR EXPENSE?

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...

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PROPERTY VALUE AFFECTS RATES AND TAXES

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...

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QUESTIONS TO ASK THE CONVEYANCING ATTORNEY

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...

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SELECT THE RIGHT ATTORNEY FOR TRANSFER

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...

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START WITH YOUR BEST FOOT FORWARD

START WITH YOUR BEST FOOT FORWARD

Every year graduating students will be thinking about their lives going forward and what the future may hold for them. After studying many will be entering the job market, starting on their career path and entering a new life stage. The financial decisions that these young consumers make early on will largely dictate their financial well-being in the future. Starting out in the right manner from t...

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SUBMITTING AN OFFER

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. An offer to purchase (OTP)...

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TIPS ON INVESTING IN YOUR FIRST PROPERTY

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...

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PROS AND CONS OF BUYING A PROPERTY THROUGH A TRUST

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...

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CONVEYANCING ATTORNEYS – THEIR ROLE IN A PROPERTY TRANSACTION

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...

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WHY IS HOMEOWNER’S INSURANCE SO IMPORTANT?

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...

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SECTIONAL TITLE VS FREEHOLD OWNERSHIP

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...

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WHAT IS THE RE/MAX BRAND TO YOU?

WHAT IS THE RE/MAX BRAND TO YOU?

These are comments we’ve heard over the last 20 years, and they’re simply not true. 1. “You can only join them as an independent contractor.” 2. “At that company, they eat their young. You’re left to fend for yourself.” 3. “More like Feemax than RE/MAX.” Let's set the record straight and give you the lowdown: 1. It is true th...

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