261. Estate Agent Mandates Explained

A Mandate is an instruction or authority from a client to an estate agent, to render a particular estate agency service. It is a legally binding contract between the estate agent and his client, that need not be in writing unless in the case...

Monday, 09 February 2009 | 2585 hits | Print | PDF |  E-mail | Report | Read more

262. VAT, TRANSFER DUTY AND STRUCTURING PROPERTY TRANSACTIONS

 The general rule is that when a seller is not a registered VAT vendor, transfer duty is payable on the purchase price by the Purchaser. However, when the seller is a VAT vendor, then VAT is payable on the purchase price by the Seller. As a...

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263. A Quick Checklist when completing an Offer to Purchase:

Click Here to Download Comprehensive Free Offer to Purchase Check that the description of the property is correct (as described in the title deed). Are all the buyers' & seller's details documented clearly? Check that the purchase price...

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264. Sectional Title F.A.Q

1       WHAT IS SECTIONAL TITLE? A Sectional Title Development Scheme (usually referred to as a Scheme) provides for separate ownership of sections of a property by individuals. These schemes fall under the control of the...

Wednesday, 18 March 2009 | 2627 hits | Print | PDF |  E-mail | Report | Read more

265. Cancellation Fees

Cancellation Fees When your home loan is repaid in full, or you cancel the loan due to the sale of the property, and you wish to cancel the existing bond over the property, an attorney will be instructed to handle these proceedings. There...

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266. Housing Development Schemes for Retired Persons

These schemes usually have extraordinary features, which other developments don't have, such as a frail care centre or full-time nursing care, restaurant facilities, great emphasis on security, etc. There can also be certain stipulations, which make...

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267. Suretyship - Explained!

When applying for a home loan with a financial institution, and your income and asset value does not cover the required loan you are applying for, the bank may ask you to get someone to stand as guarantor for your load, meaning that if you do...

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268. The Conveyancing and Transfer process of Property

Once an Offer to Purchase is duly signed by all parties it is handed to conveyancing attorneys traditionally appointed by the seller who then proceed with the formal process of conveying ownership of the property from the seller to the buyer and...

Wednesday, 27 January 2010 | 2948 hits | Print | PDF |  E-mail | Report | Read more

269. OFFER TO PURCHASE PROPERTY

OFFER TO PURCHASE PROPERTY OFFER TO PURCHASE ...

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270. Rates Clearance Certificate from the Municipality.

When a property is changing ownership the transferring attorney will need to apply to the council (local authority) for a rates clearance certificate. The clearance figure is normally six months in advance on the sellers account. Only once the...

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