Exclusive Use Areas In Sectional Title Properties
Following on from our article on Buying in a Sectional Title Scheme, we delve a bit more deeply into Sectional Title Schemes, more specifically Exclusive Use Areas (EUA). To recap, a Sectional Title Scheme is a complex or development where a person purchases a section together with an undivided share in the common property. Sectional… Read more »
Read Complete Article >
Home Staging: Tips & Tricks To Help You
You’ve decided to sell your home and of course you want to get the most you can for it, but how do you make it stand out from all the other properties for sale? With the current market being very much in favour of the buyer, there are quite a few properties on the market and… Read more »
Read Complete Article >
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 »
Read Complete Article >
Finding the right Estate Agent to help you
With the advancement of technology throughout the world, many industries and jobs have changed and/or moved online. Real Estate is no exception, with online estate agencies popping up left, right and centre. While some see value in the ability to operate and do things online, when it comes to buying or selling a home, most… Read more »
Read Complete Article >
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 »
Read Complete Article >
VAT & Property
Recently, after much speculation, then Finance Minister Malusi Gigaba (now replaced by Nhlanhla Nene) announced a raise of the percentage of Value Added Tax (VAT) from 14% to 15%, effective from the 1st of April 2018. While many wonder whether this is the way forward, it should be noted that VAT hasn’t had an increase… Read more »
Read Complete Article >
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 »
Read Complete Article >
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 »
Read Complete Article >
Property Transfer and Bond Cost Sheet
Our property transfer and bond cost sheet gives an overview and simple breakdown of the costs involved when purchasing property in South Africa. These costs include attorneys fees (plus VAT), deeds office fees and transfer duty (for the total transfer costs). Please note that this cost sheet shows approximate costs and you should check the… Read more »
Read Complete Article >
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 »
Read Complete Article >