Buying and selling property: Nine important questions
Buying and selling property can seem to the layperson like a complex process, fraught with arcane legal terminology and risk. Relax, help is at hand! To ease you into the process in clear and plain language, we ask (and answer) nine common questions asked by both buyers and sellers. We include a link to a […]
Selling your property? There might be some costs you are not aware of
If you are selling property in South Africa, check what costs you have to pay, and whether they are applicable to you: Bond cancellation costs Cancellation Costs: This is charged when you cancel your bond after selling your property. This cost total up to R3 000,00 or more per mortgage bond. Early Settlement Penalty: If you […]
WHEN YOU CHOOSE TO SELL YOUR OWN PROPERTY
For property owners it has become much easier and more lucrative to sell their own properties, without the involvement of any estate agent and without the obligation to pay agents commission. With the information and assistance which are available through the internet, social media and the support of property lawyers, more and more owners are […]
PROPERTY AND TRUSTS: BE CAREFUL!
“This case yet again demonstrates the need to be careful when dealing with a trust” (extract from judgment below) For most of us, business dealings with trusts are most likely to happen when selling a property to, or buying a property from, a trust. But no matter why or how it happens, have your lawyer […]
YOUR HOLIDAY SEASON GUIDE TO HOME BUYING AND SELLING
“Buy land – they’ve stopped making it” (Mark Twain) Selling or buying a house can seem like a complicated and confusing process but help is at hand! Have a look at this simple overview: “Buying or Selling a House – What You Need to Know” from the Law Society of South Africa on its website. […]
SELLING YOUR HOUSE? CHOOSE YOUR OWN CONVEYANCER
For most people, your house is your most important asset. So when you sell it (or any other property for that matter), it is absolutely critical to entrust the process to a conveyancer you can trust to act with both speed and integrity. The conveyancer’s role When you sell property, the conveyancer is the specialist […]
SELLING A BUSINESS WITH GOODWILL: BEWARE THIS IMPLIED PROHIBITION
When you sell a business including its “goodwill”, you will likely be prevented from opening up in competition with your old business by a “restraint of trade clause” in the sale agreement. Your 5 year restraint period lapses – what next? Restraint clauses have to be reasonable in duration, so somewhere along the line your […]