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The Truth of the Matter

Posted by Chris du Toit | Filed Under: Content - Published on January 18, 2012

The Truth of the Matter
http://www.privateproperty.co.za/news/feature/the-truth-of-the-matter.htm?id=1289

Agents have long been viewed with suspicion and while certain misgivings are occasionally justified, it is often not the agent attempting to pull the wool over a buyer’s eyes, but rather the seller who has been sparing with the truth. The Consumer Protection Act (CPA), however, is going to change the way that agents do business. As things stand, the Act does not apply to a seller who does not ordinarily sell property for a living. Estate agents on the other hand do and if the courts find that an agent has neglected to disclose pertinent information and facts then agents can be held responsible which could, in the worst case scenario, lead to the sale being overturned. It appears that agents are no longer going to be able to take the sellers word for it and they are going to have to delve into the property’s history to ensure that everything that the seller has stated is true.

Until such time when agents are compelled to dive into the property's history, it would be wise for potential home buyers to conduct their own home inspection by making use of a professional home inspection company.

As you can see the seller will not always disclose the information to the agent, and unless the agent conducts a thorough investigation, some defects will not be exposed. At this stage most sellers are not bound by the Consumer Protection Act, and the agent can claim that the seller did not inform his/her when a case goes to court.

For more information about home inspections

Home Improvements and Renovations

Posted by Chris du Toit | Filed Under: News - Published on January 16, 2012

Home renovations and improvements need careful planning and consideration to ensure that the money you spend on home improvements is money well spent.

Before you consider doing any home improvements it is wise to ensure that your home is in a good state of repair and that if you are considering adding on to your house that you can afford the additional maintenance, insurance, bond repayments and property taxes.

Stricter rules for pool owners could be on cards

Posted by Chris du Toit | Filed Under: Content - Published on January 13, 2012

Stricter rules for pool owners could be on cards
http://www.iolproperty.co.za/roller/news/entry/stricter_rules_for_pool_owners

Stals says all the pools on their books have to be safeguarded in terms of the current regulations, which means they must be maintained and fenced off and children should not be able to climb over the fence. All outdoor pools will be required to have a pool cover or must be fitted with a floating pool alarm when the pool is not in use.

(via Instapaper)

Interesting to see that pool covers will be compulsory, even when the pool must be enclosed and fenced to restrict access. Existing home owners with pool will need to register their pool, so take note.

Most Costly Mistake To Make When Buying Or Selling Property

Posted by Chris du Toit | Filed Under: News - Published on November 29, 2011

Since the introduction of the Consumer Protection Act (CPA) on 1 April 2011 players in the property market have been debating over the effect that the CPA will have on property transactions with the imminent death of the “voetstoots” or “as is” clause.

Although the majority of media reports deal with the implications of the CPA from the seller’s perspective, potential property buyers must be made aware of what some sellers are doing to combat their increased liability in terms of the act.

Why buy a property in South Africa

Posted by Chris du Toit | Filed Under: Content - Published on November 29, 2011

The South African market is much more stable than it once was and is now proving to be a great option for investors wishing to buy properties abroad, for many of these investors, this will be a second or third property to add to the portfolio they currently own. The warm climate, excellent views and low cost of living are all reasons people are attracted to South Africa.

House prices within South Africa have increased greatly over the past few years yet the average house prices remain some of the lowest round the world. There is also no time difference between the UK and South Africa making it easy to do business with one country whilst remaining in another – it also means there’s no jet lag to worry about when travelling between the two.