Property Transaction Kit
http://thepropertymag.co.za/industry-news/3127-new-property-transaction-kit.html
Dianne Brock, the new general manager of the Western Cape Institute of Estate Agents, has recommended a new computerised property transaction kit.
The aim of this kit is to facilitate the sale and transfer of property in compliance with the stringent criteria of the new Consumer Protection Act.
The new kit, said Brock, covers every aspect of a property deal including the valuation, the role of the conveyancing attorney, the standard sale agreement, the title deed and the Surveyor General’s diagram of the property. Also included are the body corporate and homeowners’ association rules, building plans, the zoning certificate, the house inspection report and the beetle, electrical, plumbing and gas certificates, as well as a short legal section on dispute resolution. This encourages the insertion of a mediation of arbitration clause in the sale agreement and has recommendations on how to insure against litigation costs.