Property buyers: There’s a new deduction from Interest earned on your deposit
When you buy property, the sale agreement often provides for you to pay a deposit (normally 10% of the sale price) to the conveyancer (the attorney transferring the property into your name), to be kept in trust until transfer. Don’t lose out on earning interest on your deposit money – check that the sale agreement’s […]
PROPERTY BUYERS: A R25m CAUTIONARY TALE
Property can be a great investment. Just be sure to do your homework, and seek professional advice, before you buy. The R25 million damages claim Take for example a recent High Court case in which the auction buyer of a prime Camps Bay property claimed damages of R25m both from the seller and from the […]