Selling your home can be a stressful event, but with the right preparation and knowledge, it can be exciting and rewarding. Whether you’re a first-time seller or have sold properties before, understanding the overall process is key to staying organized and making informed decisions.
Category Archives: Durbanville Property Blog
What Fixtures and Fittings Are Included in a Property Sale?
Imagine buying your dream home, only to move in and discover that the beautiful chandelier and built-in sound system you fell in love with are gone. Or, as a seller, you’re suddenly in a legal dispute over items like this that you thought you could take with you.ou sure it is fully legal and compliant?
September 2024 Property Market Update: Interest Rate Cut – What It Means for You:
The South African Reserve Bank recently announced a 25 basis point cut in the repo rate, bringing the prime lending rate down to 11.5%. After more than four years of rising interest rates, with the prime rate sitting at 11.75% for the past 16 months, this decrease is a much-needed relief for many South Africans.
Alternative Electricity Supply and SSEG systems – Regulations, laws and by-laws to adhere to:
If you are a home owner, and you have installed some sort of backup electrical system, are you sure it is fully legal and compliant?
Understanding the “Voetstoots” Clause.
A contract to buy or sell property would invariably include a “voetstoots” clause, which is intended to protect sellers. However, the “voetstoots” clause does not always protect a seller against defects in the property, so Buyers and Sellers must make sure they understand the meaning and implications of a “voetstoots” clause…
Capital Gains Tax… Don’t be caught off-guard!
Are you planning to sell your property in South Africa? Don’t let unexpected taxes catch you off guard! In this video, we break down everything you need to know about Capital Gains Tax (CGT) on property sales. Learn how to calculate your capital gain, the allowable deductions, and the exclusions that can significantly impact your profits. Make informed decisions and plan ahead to maximize your returns.
Understanding the 72-Hour Clause in Property Transactions
The famous 72-hour clause—if you are buying or selling a property, you may encounter this clause in your Offer to Purchase or sale agreements. It often causes confusion, so let’s clarify its meaning and impact on buyers and sellers.
VAT or Transfer Duty… Which is payable?
Very often the question arises as to whether the purchaser must pay transfer duty on a particular property transaction, OR whether there is no transfer duty payable because the transaction is in fact a VAT transaction.
Hidden” costs when buying or selling property in South Africa:
Who pays for what? Buying or selling a property involves navigating through various costs and expenses, and as a buyer or seller it is very important to know who is liable for the various associated costs, and more importantly to be prepared for all the “hidden” costs that you may be liable for…
Cape Winelands Airport Development Plan: Transforming into a Global Aviation Hub
The planned Cape Winelands Airport, just outside Durbanville, is set to undergo a transformative journey, evolving from a modest airfield to a prominent commercial and aviation center.
Alternative Electricity Supply and SSEG systems – Regulations, laws and by-laws to adhere to:
If you are a home owner, and you have installed some sort of backup electrical system, are you sure it is fully legal and compliant?
Property Transfer and Registration in South Africa – the whole process explained:
Once a Seller has accepted of an Offer To Purchase (OTP) which was made by the buyer, the transfer process begins.
Building Plans – are they required?
Approved building plans, or the absence thereof, could greatly affect the saleability of your property. It is really important to make sure you have approved building plans for all structures on your property, otherwise you may end up jeopardising the sale of your property.
Compliance Certificates
If you’re in the process of buying or selling a property, It is important to be aware of the compliance certificates that are required when buying and selling property in South Africa.
The Sole Mandate Debate
The Sole Mandate Debate!! The choice between granting a sole mandate or going for a multi-agent, open mandate approach is often debated, and can be a contentious and confusing topic for property sellers, AND could also be the difference between a smooth sale or a turbulent one.