Property

“Good in parts” (Like the curate’s egg) Transfer duty threshold increased by 10% You pay no transfer duty if the property you are buying sells for less than the set threshold. The threshold wasn’t increased last year, so this year’s proposed 10% increase from R1,100,000 to R1,210,000 (from 1 April) is a welcome adjustment for inflation. With all the brackets

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“All that glisters is not gold” (William Shakespeare in Merchant of Venice) Buying or selling a home could be one of the most important financial decisions you’ll ever make. It’s an exciting time – but don’t lose sight of the need to tread with care. A key player in the process is likely to be an estate agent, to whom

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Article courtesy of Law Dot News | Property - Mortgage Bond Arrears “O, I do not like that paying back.” (Falstaff, in Shakespeare’s Henry IV Part I) A standard clause in loan agreements, suretyships and the like is the “certificate of balance” or “COB” clause. Typically, it will read something like this (but normally with a lot more verbiage, andRead more

Article courtesy of Law Dot News | Property - late building penalties Beware Late Building Penalties “Home wasn’t built in a day.” (Jane Ace, radio comedian) You find the perfect plot on which to build your dream home in a security estate. Your offer is accepted and transfer proceeds – happy days! So, imagine your distress when, having proudly takenRead more

“I never knew of a morning in Africa when I woke up that I was not happy.” (Ernest Hemingway)  Are you a visitor dreaming of waking up with giraffes on your lawn and wondering how to make it happen? Or a local being asked by overseas friends and relatives: “This country’s magic, how can I buy myself a property here?”

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“A man’s home is his castle.” (Sir Edward Coke, English common law ruling, 1604) Of course, what we all want to hear at the end of our house-selling journey is something like this: “Congratulations! You sold for a good price, the buyer’s taken transfer and you’ve been paid the purchase price. Time to pop the bubbly!”. Having your sale go

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“Don’t wait to buy land, buy land and wait.” (Will Rogers) Summer’s a great time to look for property. With the year winding down and the holiday season upon us, many sellers who’ve been holding back are now putting their properties back onto the market, so expect to see some great new buys out there. But that’s not the only

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Article courtesy of Law Dot News | Property - issues with neighbour Protect Yourself from the Nightmare Neighbour “A bad neighbour is a misfortune, as much as a good one is a great blessing.” (Hesiod, 700 BCE) It seems that every community has at least one nightmare neighbour who delights in objecting to everything, fighting with residents and management atRead more

“This sale agreement is no more! It has ceased to be! This is an EX-sale!” (With apologies to Monty Python) A “bond clause” – standard in most property sale agreements – typically provides that the whole sale depends on the buyer obtaining a mortgage bond by a specified date. If the deadline comes and goes without a bond being granted,

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“Good fences make good neighbours.” (Robert Frost) When you buy into a community scheme (such as a security estate, complex or apartment block) you automatically become a member of its management body: either a Homeowners Association (“HOA”) if your property is full-title or freehold, or a Body Corporate if your property is part of a sectional title development. You are

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