Category Property News

Is it worthwhile buying a fixer-upper?

Purchasing a fixer-upper can be an extremely beneficial financial endeavour. However, only if the buyer has taken the time to do their research and followed the right procedures to ensure they are making a sound investment decision.

© victor zastolskiy – 123RF.com

Irrespective of the kind of property the purchaser is interested in buying, it is imperative that certain principles are adhered to, to ensure they are protecting themselves against purchasing a potential money trap. Doing the groundwork is even more important when the purchaser is considering a home that would be regarded as a fixer-upper because there will be far more expense than just the purchase price...

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Green features help to sell homes

21 Apr 2015

More and more home buyers in today’s property market are becoming interested in homes that offer green elements.

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More and more home buyers in today’s property market are becoming interested in homes that offer green elements, and there are a great deal of green products available to homeowners, says Goslett.

This is according to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who says the term ‘green’ home has become somewhat of a buzz word in the housing market, as a growing number of home buyers consider energy efficiency as a highly important factor when searching for the perfect property.

“Buyers are looking for both energy-saving features and environmentally-friendly features...

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Banks Make Buying Property Easier

21 Nov 2014

Back in the pre-2007 property heydays it was quite easy to obtain a home loan at favourable rates – even as a first-time buyer. Since then it’s been tough going with local banks increasing their scrutiny of applicants, tightening their lending procedures and offering fewer, smaller home loans.

Since the pre-2007 property boom, local banks increased their scrutiny of applicants, tightened their lending procedures and offered fewer, smaller home loans. However, all this is changing.

This is according to Bruce Swain, MD of LeapfrogProperty Group, who says based on new data released from home loan originator BetterBond, it seems that this situation is changing, with the latest bank policies painting a rosier picture.

Banks are willing to lend

“It’s certainly been harder for buye...

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Sea views and servitudes: Neighbours at war

31 July 2014

The recent Supreme Court of Appeal (SCA) judgment of Robarts v Antoni NO(327/2013) [2014] ZASCA 64 underlines once again the need to properly record any and all agreements relating to your property.

Game of Homes

neighbors fighting

    • Cape Town (Bantry Bay) neighbours – let’s call them A and B – whose houses “enjoy spectacular views of the Atlantic Ocean which contribute significantly to their huge value” came to blows when A (the neighbour in front of B), started building without municipal plan approval and in breach of restrictive title deed conditions and zoning scheme requirements.
    • At a “settlement” meeting, B agreed not to object to the planning applications for departure and title deed amendments that A needed.
    • According to B, A had then (in exchange for these concessi...
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Register as an interim Estate Agent

27 Mar 2014

There are regular inquiries to the Institute of Estate Agents, Western Cape, as to what to do when one wants to register to become an intern agent, whether this is necessary, and what steps to follow once registered to become fully qualified.

Over the six month period the intern or new agent will learn the principles of real estate, property law and ethics, sales and marketing techniques needed, and how to run his business.

This is according to Annette Evans, regional manager for the Institute, who says there are three basic things that need to be done, the first being the actual registration with the Estate Agency Affairs Board, which needs the following:

– The fully completed and signed application form (which can be downloaded);

– A certified copy of a valid ID book;

– A...

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Trouble with trusts

Whether or not 2014 lives up to the forecasts of accelerating strength in the property market, you need to know that your sale or purchase of land will be invalid unless it complies strictly with these legal requirements –

    1. The sale must be recorded in a written agreement of sale, and
    2. The sale agreement must be signed by both seller and buyer, either personally or by an agent authorized in writing to sign on that party’s behalf.

The twist with truststrusts
There’s an additional twist to be borne in mind when one of the parties is a trust – trustees must act in accordance with the requirements of the trust deed, and where they are required to act jointly (which will be the case unless the trust deed provides otherwise), a trustee acting alone must be properly authorised to do so by the ot...

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Real Growth in Metro Areas

23 Jan 2014

According to Francois Venter, director at Jawitz Properties, the metropolitan areas are likely to see real property price growth compared to rural and coastal areas.

Priced at R1.675 million, this three bedroom home in Wellington has picturesque views of the Boland mountains and vineyards, an open plan living area with beautiful wooden floors and a fireplace. Click here to view.

Well priced properties in the metro areas will sell fairly quickly, whereas in rural and coastal areas the time it takes to sell a property is much longer.

“The weak Rand will continue to put pressure on inflation which will in turn impact on prices across the board and particularly on food and petrol, making affordability an issue for some,” he says.

However, he says interest rates wer...

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DE REBUS DIGITAL – Read Online

NewDERebusAug13Read the latest issue of De Rebus Attorney’s Journal

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Property Valuation Bill 2013

30 May 2013

EXPLANATORY MEMORANDUM ON THE PROPERTY VALUATION BILL 2013

 BACKGROUND

    1. A central feature of the land redistribution and land restitution programme has been the acquisition of land on the basis of the ‘willing buyer willing seller (i.e. demand— driven and market —based) model, predominantly based upon the historical value at the time of dispossession. Through these programmes, Government has set the target of delivering 30% of commercial agricultural land, or about 25 million hectares, by 2015. To date only a quarter of the 30% target has been reached.
    1. A critical issue in both restitution and redistribution is that of escalating land prices. Escalating land prices have contributed significantly to the slow pace of land redistribution...
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Risk Alert Feb 2013

First a conveyancing scam alert

warninglogo5Bad news! After going quiet for a short time, the scamsters are now back and operating in various jurisdictions.

Please warn your conveyancing staff not to allow the seller to change the details of the bank into which the proceeds of the sale must be paid. If the seller insists for a valid reason, then s/he must provide you with written instructions AND proof that the new bank account is hers/his.

Where the property sold belongs to a married couple or more than one owner, then instructions MUST be obtained from both the joint owners. Too often we have the situation where the conveyancer assumes that the husband/wife will agree with his/ her spouse’s instructions. This is very often NOT the case! For the full article please click on the source link below:

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