Property buyers: The danger of not doing your financial homework
“Look before you leap” (wise old proverb)Don’t let the excitement of buying a property blind you to the necessity of doing your homework before you agree to anything. Look before you leap! It’s not just a matter of buying the right property at the right price – make sure that your finances (and particularly your […]
Conveyancing firms work together
WE ARE PART OF A GROUP OF CONVEYANCING FIRMS PROVIDING INFORMATION, EDUCATION AND SUPPORT TO PROPERTY OWNERS, BUYERS & SELLERS. THIS INITIATIVE BEGAN DURING THE LOCKDOWN AND WILL BE EXPANDED AS THE RESTRICTIONS ARE LIFTED AND THE SA ECONOMY RECOVERS. READ MORE HERE Property Buyers and Sellers are facing uncertain times going from level 5 […]
Property owners, buyers and agents: Lost title deeds and bonds – Don’t delay!
“He who hesitates is lost” (Wise old proverb) In January 2019 new amendments to Regulations for the replacement of lost title deeds (and similar documents like mortgage bonds and notarial bonds – see below) were published. They were very onerous and slated to come into effect at short notice, but after criticism they were suspended […]
“Seller’s remorse” and “subject to sale of the buyer’s property” – Can they sink the sale?
“If you don’t like where you are, move. You are not a tree” (Jim Rohn) The upcoming festive season, with its mass migrations of happy holiday-makers to their dream destinations, has always been a busy time for both sellers and buyers. In these hard times however, an increasing number of sellers are feeling pressured to […]
Property transfers and trust account theft: A R720,000 warning
“The issue of whether a conveyancing attorney receives the money as the agent of the seller, or of the purchaser, or of both, or as trustee for both to await the event, is a somewhat vexed question … and each case must be considered in the light of its own facts and the particular contractual […]
PROPERTY BUYERS: DON’T PAY THE SELLER’S OLD RATES WITHOUT LEGAL ADVICE!
You buy your dream house but are shocked to learn that (a) the seller still owes the municipality for old rates and taxes and (b) you can’t get a new electricity account unless and until you settle all these arrears. You point out how unfair it is that you are being asked to pay someone […]
PROPERTY FRAUD: BUYERS, BONDHOLDERS BEWARE
“Our system of deeds registration is negative: it does not guarantee the title that appears in the deeds register” (extract from first judgment below)Although in practice title deeds as registered in the Deeds Office are accepted as proof positive of property ownership, two important SCA (Supreme Court of Appeal) decisions illustrate a little-known but potentially […]