Purchasing property in South Africa is a significant milestone and one of the largest financial commitments that many South Africans will make. For first-time buyers, the process can be daunting, especially when navigating an unfamiliar market with fluctuating interest rates and economic uncertainties. Taking a proactive and informed approach is crucial to securing a sound investment and avoiding common...
Advice
About 70% of working South Africans have medical cover of some sort, this is according to infoQuest, a South African online research company. This information is contained in infoQuest’s latest research on the healthcare system in South Africa. The data showed that the incidence of having medical cover is significantly higher amongst males than females. The report revealed that access to quality...
Investing for an income is what you do, for example, when buying a life annuity with your retirement savings. You aren’t investing for some long-term accumulation goal; you are putting your money in an investment that will hopefully give you a sustainable return from which you can withdraw at regular intervals for your day-to-day living expenses. Your income from this investment needs to increase each...
Choosing the perfect rental property is an important decision for those seeking to rent a home, as it affects their lifestyle and financial well-being. With a varied selection of possibilities accessible, learning how to choose the most appropriate property is vital. “Finding the right rental property can enhance your quality of life and provide peace of mind in your living situation,” said...
With so many South Africans living and travelling abroad, the power of attorney (POA) is a useful legal tool that can make the sale or purchase process much easier and quicker when the buyer or seller is unavailable or unable to attend to the details of the transaction in person. Claude McKirby, Co-Principal for Lew Geffen Sotheby’s International Realty explains: “In a nutshell, a POA allows one...
Property buyers that are purchasing sectional title property should not only evaluate all aspects of the property but it is equally crucial to review the governing entity responsible for managing the sectional title scheme.“The body corporate plays a pivotal role in maintaining the complex, enforcing rules, and managing the communal finances,” Cobus Odendaal, CEO, Lew Geffen Sotheby’s International...
Rental property owners and landlords must understand their duties and rights under South African rental regulations, particularly what they are not permitted to do.Landlords and tenants have rights and obligations under the Rental Housing behave and the Consumer Protection Act, and landlords cannot behave arbitrarily, particularly when dealing with tenant complaints.Seeff Southern Suburbs’ rental brokers...
The main reason why a property does not sell is typically because it is overpriced relative to similar properties or the current market conditions, according to Seeff Property Group. Seeff said that an unrealistic asking price extends the selling timeline which means more days of keeping your home show-ready, extra marketing costs accruing, and potentially missed opportunities on other properties you might...
Thinking about renting your property out in order to make some extra cash? Well you should know your insurance liabilities. A number of South Africans have taken to renting out a room, flatlet, or their entire house to earn extra income, especially during the holiday season.Homeowners have flocked to platforms like Airbnb, Roomies or Roomster to rent out their homes and or rooms to potential guests.The...
A suspensive condition is a condition that suspends the rights and obligations of the parties (or the coming into operation of the entire Agreement of Sale) until the occurrence of a certain or uncertain future event. The most common examples of a suspensive condition include: A condition requiring the purchaser to obtain loan approval from a financial institution within a specified period to finance...
