Useful Tips

Useful Tips:

  • Never provide your personal or banking information.
  • Make yourself aware of common scams and fraud.
  • Use common sense.
  • View properties in person
  • Never send or wire money to sellers or buyers.
  • Take special care when buying expensive items.
  • Never send your item before receiving the money.
  • Avoid fraud by meeting all sellers in-person to pay for items.
  • If you make any amendments to the Offer to Purchase, such as a change in occupation date or occupational rent, they should be in a written addendum and signed by all parties. This avoids any later disputes later on.
  • A Seller is responsible for disclosing any interdicts in place against the property for sale, as well as any insolvency or judgements against their name.
  • All banks require 90 day`s written notice for the cancellation of an existing bond. Without it, you can be charged penalty interest, or you may have to wait out the notice period,(which can also delay transfer). To avoid this, you can give notice as soon as you decide to sell – if you don`t sell within 90 days, the notice lapses and has no further effect.
  • Even when your property is on the market, or sold, keep up payments with regards to rates, levies and bond to avoid hefty arrear payments once the property is transferred.
  • If you suspect the funds coming from the sale of your property aren`t enough to cover all the liabilities relating to the sale, you need to give your conveyancer the following : Cancellation figures on your bond, cancellation attorney`s invoice; rates clearance figures; copy of the purchaser`s bond grant and a copy of the sale agreement. You`ll also need to sign an acknowledgement of debt for the shortfall, guaranteeing settlement of the balance with the bank.
  • Before you make an Offer to Purchase, you should make sure you can afford all the costs involved. Find out from the conveyancing attorney what costs are associated with transfer, bond and bank admin fees. You should also confirm the annual rates and levies, if applicable.Before you make an Offer to Purchase, make sure you`ve inspected the property for any defects. Make a note of these for the seller to correct at their own cost.
  • Before you make an Offer to Purchase, make sure you`ve inspected the property for any defects. Make a note of these for the seller to correct at their own cost.
  • Before you make an Offer to Purchase, you should make sure you can afford all the costs involved. Find out from the conveyancing attorney what costs are associated with transfer, bond and bank admin fees. You should also confirm the annual rates and levies, if applicable.
  • A Seller is responsible for disclosing any interdicts in place against the property for sale, as well as any insolvency or judgements against their name.