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Buying Property

When buying property follw these handy tips

  • Look at other houses in the area (position ,position, position)
  • Talk to neighbours about noise, crime, etc...
  • Ask relevant questions regarding damp , structure and plumbing
  • Get everything in writing!
  • View the house in the day and at night.
  • When in doubt about the defects get an expert in the field to advise and give a "happy letter".
  • Pitfalls and hidden costs to look out for:

  • Sellers will pay rates and water in advance of 120 days to obtain a Rates Clearance Certificate.
  • Over payment will be refunded by Council after the transfer.
  • Sellers normally pay beetle, electrical and plumbing certificates (shop around for competitive prices), this however is negotiable.
  • Sellers to remember Bond Cancellation costs paid to the Bond Cancellation Attorneys, when cancelling a bond when cancelling a bond.
  • Buyers: transfer duty payable on everything over R600 000, 00. Payable prior to transfer and costs not included in bonds.
  • After Transfer:

  • The Seller will have to contact the Municipality for the refund.
  • The Purchaser will only get an account once the Municipality has reconciled the old account and transferred the details into the name of the Purchaser which takes 2-3 months.
  • Buying at auction:

  • Get an expert involved if it is your first auction!
  • Read the auction conditions and ASK QUESTIONS
  • View the house first
  • As a buyer you might be liable for arrear rates which can be thousands.
  • Find out if it is a voluntary/forced (bank) auction as you might not get the property if it is subject to validation of owner.
  • Is there a tenant?
  • Is vacant occupation guaranteed on transfer?
  • Be aware of serious defects, talk to the neigbours

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