Most Recent Buying Articles
THE INS AND OUTS OF CAPITAL GAINS TAX
While most property transactions will not be subject to Capital Gains Tax (CGT), it is still important to understand the implications that it could have, especially if your home sells for more than the primary residence exclusion threshold. Forming part of an individual’s income tax, CGT is part of an ongoing reform programme which was introduced in South Africa in October 2001. The tax p
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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
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IS THERE A DIFFERENCE BETWEEN OFFERS?
It is not uncommon for sellers to receive more than one Offer to Purchase (OTP) on their property at a time, especially if the home is situated in a sought-after area. While it might be tempting to accept the highest offer, this isn’t always the best offer, and it is important to look at all offers in their own merits, paying particular attention to the clauses of each contract. A real es
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LETTING OUT YOUR HOME - THE PROS AND CONS
Although it may not have been your original intention to become a landlord and let out your property, there are certain situations in life where the need may arise. Be it needing to relocate for work or dealing with financial difficulty that needs to be addressed, if the end goal is to hold onto the property, letting it out could be a feasible option. However, it does have both advantages and disa
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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
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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
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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
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NEGATIVE ASPECTS THAT INFLUENCE PROPERTY VALUES
Research reveals that it only takes a prospective buyer a few minutes to decide whether they like a home or not, which is why it is essential that the home makes an excellent first impression. While there are certain things you can do to ensure that your home is in its best possible condition before it is listed on the market, unfortunately, there are elements which are beyond your control that
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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 PRICING CRUCIAL
A detrimental mistake that many sellers make when listing their property on the market is inflating the asking price. Sellers often ask for a higher amount to give themselves a cushion during the negotiation process. A seller may have a certain amount that they would like to get out of the sale of the property. Anticipating that prospective buyers will put in lower offers than the initial askin
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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
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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