Can You Back Out of a Property Purchase? Legal Consequences Explained
Purchasing property is one of the most significant financial commitments a person can make. It often involves high financial stakes, emotional investments and a legally binding contract. But what happens if you need to back out of a sale after signing an offer to purchase? Whether due to a change in financial circumstances, buyer’s remorse, […]
Seller Appoints the Conveyancer; Purchaser Pays the Fees
There is currently no legal framework in South Africa that mandates the common practice where the seller appoints the conveyancer, and the purchaser pays the transfer fees. However, this arrangement has become deeply embedded in South African conveyancing practice over many years, if not decades, due to a range of practical and legal reasons outlined […]
Can an HOA Block Access for Foreign Domestic Workers?
Homeowners’ Associations (HOAs) are legal entities responsible for managing and regulating housing development schemes. They oversee maintenance of communal infrastructures such as roads, security systems, and other shared amenities. An HOA can legally implement access restrictions as part of its security procedures, but sometimes the extent of these procedures is questioned. HOA’s authority to regulate […]
What buyers and sellers should know about conveyancing in South Africa.
If you’re buying or selling property for the first time, the transfer process might seem a little overwhelming. We’ve compiled a list of common questions to help you understand the key steps and make the experience a bit less daunting. 1 . What does a conveyancer actually do? A conveyancer is a specialised attorney who […]
Navigating Property Disputes: A Guide for Owners and Tenants
Property disagreements can be stressful and costly if not handled effectively. Whether you’re a homeowner, tenant, or landlord, understanding common disputes and how to prevent them can save you significant time and money. Common Property Disputes You Might Encounter Property disputes usually revolve around ownership, usage, or responsibility for a property. These can occur in […]
Tenant ‘Red Flags’ and How to Avoid Them
The wrong tenant can have a lasting negative effect. The residential property industry continues its upward trajectory, and investors are getting in on the action. However, with the rise of investors choosing to take advantage of low prices and invest in ‘buy-to-let’ properties comes an excess supply of rental properties in areas with high supply […]
Are You Obligated to Pay Arrear Levies When Purchasing a Sectional Title Unit? Part 2
Recently, the High Court and the Supreme Court of Appeal (SCA) were required to interpret Section 15B(3)(a)(i)(aa) of the Sectional Titles Act 95 of 1986 in relation to a sale in execution in the case of the Body Corporate of Marsh Rose v Arno Steinmuller and others. The issue in the appeal is firstly, the statuses […]
Why a Home Loan Prequalification Matters
So you’ve been looking to buy your dream home, and you’ve seen something for sale that grabs your fancy. Now imagine yourself walking through the front door carrying a suitcase filled with cash. You’ll certainly get the buyer’s attention, won’t you? Of course, not many people are in the fortunate position of being able to […]
Understanding Homeowners Associations (HOAs)
If you are considering buying a property in a housing development, it’s essential to understand what a Homeowners Association (HOA) is and how it operates. HOAs are legal entities responsible for managing and regulating housing development schemes. Although homeowners own their individual properties, the HOA maintains and oversees communal infrastructure, such as roads, security systems, […]
Five Residential Property Trends No One Saw Coming
Experts have already predicted the top property trends of 2024, ranging from the impact of looming interest rate cuts to co-buying, solar power financing, sectional title demand and the resurgence of first-time homebuyers. However, several emerging (and sometimes overlooked) trends are set to come into play, creating notable shifts in the landscape. The top five […]