Ask RE/MAX | RE/MAX™ of Southern Africa

Are approved building plans needed when selling in SA?

Is the seller obliged to give copies of the plans of their property to prospective buyers? This is a question that comes up time and again during the sales process. The short answer is “No.” The long answer is a bit more complicated: it’s also the buyer’s right to ask for them, and even to include a clause to that effect in the offer to purchase (OTP). It is good to be prep

INTEREST RATES LEFT UNCHANGED AT LATEST MPC MEETING

Debt holders can let out a sigh of relief as the Monetary Policy Committee (MPC) announced today that interest rates will remain stable at 8.25% (repo rate), leaving the prime lending rate at 11.75%. With inflation dropping to 4,7% in July, most economists predicted that interest rates would hold steady at this meeting. “The decision to keep interest rates stable is a reassuring outcome t

The real cost of long-distance moving in South Africa

A long-distance move is a complicated exercise, no matter whether you’re relocating for that dream job, retiring, or living out your dream of moving to the countryside. Probably the most critical of these complications is what it will cost you to make the move. To help you formulate a budget and a foolproof moving plan, we’ll take you through the possible charges for a long-distance mo

Where to study real estate courses in SA

There is a lot more to being a real estate agent than sales. Property is a complex and diverse field. When you embark on a career in this field, there are many courses on offer which can make it tricky to choose the course of study that will give you a firm foundation on which to build your professional presence in the industry. A reminder: With the promulgation of the Property Practitioners

The Basics of Capital Gains Tax for Homeowners

When the selling price of the home is more than the price you initially paid for the home, you will most likely have to pay capital gains on that profit. What is capital gains? Well, simply put, Capital Gains Tax (or CGT) is a tax on the profit (income) you make when you “dispose” of a capital asset like a house. “Dispose” is a technical term for the transfer of ownership w

DOWNSIZING YOUR HOME: THE BIG DECISION TO GO SMALL

Tiny homes are a growing trend – internationally and in South Africa. Although downsizing to a smaller house or apartment may not appeal to everyone, there may well come a time when downsizing just makes more sense. Maintaining a largely underutilised property doesn’t always make financial sense if the family has shrunk and the children have fled the nest. With the increasing cost of l

INTEREST RATES FINALLY STABILIZE

Some good news for debt holders as the Monetary Policy Committee (MPC) announced that interest rates will remain stable at 8.25% (repo rate), leaving the prime lending rate at 11.75%. This ends the consecutive hiking cycle that started in November 2021. Pleased by this announcement, Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett says that an increase might have been in t

RE/MAX NATIONAL HOUSING REPORT Q2 2023

Rising Interest Rates Cool Down Property Sales The series of interest rate increases has finally begun to visibly affect the local housing market.   According to Lightstone Property data, as at 04 July 2023, a total of 30,343 bond registrations were recorded at the Deeds Office for the period April to July 2023. The RE/MAX National Housing Reports reveal that this figure is down by a wh

RE/MAX WINS DIAMOND ARROW AWARD AT PMR EVENT

RE/MAX of Southern Africa claimed the coveted Diamond Arrow Award in the category for Real Estate Agents at the annual PMR.africa Western Cape Provincial Survey Business Excellence Awards Breakfast held on 20 June 2023 at Da’Aria. To determine the winners for this year’s event, PMR.africa completed its annual survey of the Western Cape Province to measure companies, institutions, go

Paying Off Your Home Loan Faster: a Guide for Homeowners

Are you interested in exploring the potential for paying off your home loan early? We’ve prepared a set of strategies to help you pay off your home loan faster... Why should you pay off your home loan faster? Owning a property is a significant milestone, but the long-term commitment of a loan can be daunting. You can potentially eliminate years’ worth of debt by paying even a lit

SOUTH AFRICA’S FIRST BLACK COMMERCIAL BALLOON PILOT

In 2022, Komane Harold Tjiana made history by completing his balloon pilot licence, making him the first black male hot air balloon pilot in the country. To make his next dream come true, The RE/MAX Foundation will contribute R100,000 towards his Commercial pilot training. Backed by Balloon Airship Federation of South Africa, Harold qualified as a pilot in September 2022 thanks to a grant from

Another Agent Joins The Circle of Legends

Narina Fischer of RE/MAX Jowic qualified for the prestigious Circle of Legends Award, one of the highest achievements within RE/MAX, in April 2023. She is the seventh person to receive this award within the Southern Africa Region. “I am extremely honoured to be recognised in this way by the top real estate company in South Africa, but my true satisfaction stems from finding the client the

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Are approved building plans needed when selling in SA?

INTEREST RATES LEFT UNCHANGED AT LATEST MPC MEETING