Purchasers reneging on an Offer to Purchase
In terms of our Law, the Alienation of Land Act, no sale of land shall be of any force or effect unless it is in writing and signed by the Seller and Purchaser. This document is called an Offer to Purchase which constitutes an agreement of sale once signed by Seller and Purchaser. The agreement of… Read more »
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South African Financial Emigration
Recent reports have shown that there has been a noticeable uptick in the number of South Africans looking to emigrate, but many don’t know how to go about the financial side of things. While many think that they can simply pack up and go and just “send the money”, the reality is not as straightforward…. Read more »
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How Does The Drought Affect Property Transactions?
The current drought in Cape Town creates a practical and legal problem in that the seller in most instances cannot deliver the property to the purchaser in the same condition it was at the time of sale, specifically the garden and swimming pool. The seller furthermore has a duty to obtain a water certificate if… Read more »
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Property Compliance Certificates
A compliance certificate is a document which provides the parties with an assurance that all required safety standards have been complied with. Some certificates are required under National Legislation such as electrical and electric fence, whereas others are required by Municipal By-Law such as the Plumbing Certificate required by the City of Cape Town. ELECTRICAL… Read more »
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Transfer Duty, Withholding Tax & Capital Gains Tax (CGT) 2017
With the announcement of the annual budget towards the end of last month, Minister of Finance, Pravin Gordhan focused on key issues of reducing government spending and working towards radical economic change. While the main interest for most of us was the rise in Income Tax, for those looking to purchase or sell property it… Read more »
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Signing an Offer to Purchase
We are all aware of the saying “signing your life away”, but do we always take note of what it is we may be signing? South Africa has one of the best Deeds Registries in the world and while this is great it does mean that the property transfer process has quite a few regulations…. Read more »
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The South African Conveyancing Procedure
South Africa has one of the best ‘systems’ for the transfer of property from one person to another, however it may seem complicated to some so I thought I’d try and run through the basic process to give a better understanding of it all.
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Dual Purchasers: Non Resident & SA Resident
On occasion we have come across clients who have or are thinking of buying a property together.
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