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 »
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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 »
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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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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 »
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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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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 »
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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 Politics of Tax
The art of taxation is in plucking the most feathers from the goose without the goose hissing – J B Colbert Over the past number of years taxpayers have been frustrated by how government collects revenue and by how it has introduced financial policies that are implemented by the revenue department. While no excuse can… Read more »
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