Property Advice in an Election Year
Buy now, sell later. This year, almost half of the world’s inhabitants will head to the polls to elect their new governments, including eight of the world’s 10 most populous countries. In South Africa, we can expect our own election to put the property market into a temporary holding pattern, dragging on the subtle buyer’s […]
Understanding mortgage bond cancellation: Key steps and considerations
In South Africa, the process of cancelling a mortgage bond is commonly necessitated when a property is sold or the bond is fully paid off. This procedure is intricate, consisting of several critical steps: Step 1: Notice of cancellation Initially, the property owner must submit a notice of intent to cancel the bond to the […]
Is a seller held liable to repair a leaking roof after the property is sold?
The Purchaser signs an agreement of sale with the Seller. The property is transferred into the Purchaser’s name. A month later, there were heavy rainfalls and the roof leaks. Is the Seller liable to repair the roof or the Purchaser, as the new owner? To understand which party is liable, one must appreciate the difference […]
Should sellers provide approved building plans when selling property?
The simple answer is no. However, the National Building Regulations and Building Standards Act mandates that local authorities approve building plans for the construction, alteration, or conversion of a building. Consequently, if approved plans are absent, the property owner would be committing a statutory offence. Once signed by both parties, an offer to purchase becomes […]
Factors to consider before negotiating your home loan’s interest rate
As interest rates continue to rise, many homeowners find themselves contemplating the idea of fixing their home loan interest rates. Initially, when the interest rate hike began after the historically low rates experienced in 2020, experts advised against fixing rates. However, the landscape has evolved since then, and the decision to fix your interest rate […]