There are several reasons why home loan applications might be declined, but below are some of the main reasons as well as possible solutions. 1. Affordability Affordability is such an important element in the bond approval process and should be addressed first. Affordability under the National Credit Act is measured by net disposable income. This… Continue Reading
Stress-free Moving
Moving is said to be one of the most stressful experiences that people can go through, however there are many ways to make the process fairly painless and stress-free. All it takes is organisation, time and a positive attitude. Instead of focusing on the negative and time-consuming task of packing, transform it into an opportunity… Continue Reading
Interest Rate now at 8,5%
The South African Reserve Bank (SARB) has cut the repo rate by 50 basis points to five percent. This means that the prime lending rate offered by the banks has also been lowered to 8,5% This is good news for home buyers, since you will now qualify for a little more finance. Existing homeowners on… Continue Reading
South African Property Market Healthier Than Expected
Property owners in South Africa who still have outstanding debt on their property appear to be in a far better position than their counterparts in America. According to a recent report by Reuters more than 1 million homeowners in America who purchased their property in the past two years now owe more than the current… Continue Reading
5 Tips For Potential Property Sellers
With distressed property sales still the order of the day in the South African Property market it is still currently a buyer’s market and any predictions of a turnaround in favour of property sellers can at this stage be nothing more than a thumb-suck guesstimate. Selling your property in the current situation can be quite… Continue Reading
What to Look Out For When Buying Property
With interest rates at their lowest since 1974 and house prices being pretty flat at present, now is probably a good time to invest in property if you can afford to do so. To make sure that you realize the best returns on your investment it is imperative that you do your homework before you… Continue Reading
Home Improvements and Renovations
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… Continue Reading
Most Costly Mistake To Make When Buying Or Selling Property
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… Continue Reading
Superior Negotiating in Distressed Times
There are several approaches to negotiating a successful real estate deal, but all involve a few key strategies. Recognizing the strengths of your position will enable you to execute the most advantageous deal possible. Foremost, you must completely comprehend that you are negotiating from a position of strength. Many property owners are in a financially… Continue Reading
Should You Use An Estate Agent Or Buy Private?
Buying privately can save you some money on the purchase price, but is it worth taking the risk? I will try to explain both the advantages and disadvantages of using estate agents, and also what you should keep in mind or be aware of. Advantages Of Buying Through An Estate Agent Estate agents usually have… Continue Reading