For many whose homes are where their hearts are, the Draft Expropriation Bill, 2019, which seeks to legalise land expropriation without compensation, is proving to be of great concern, especially after it was released for comment on 21 December 2019. The biggest concern is what effect the expropriation will have on existing property loans — a concern that the Minister of …
Has your braai been approved?
Every HOA has applicable building guidelines which are stipulated in a Constitution or Memorandum of Incorporation (“MOI”) which every homeowner should be made aware of, read and understood. The guidelines will differ from estate to estate and it is important for the homeowners to adhere to these provisions. When one wants to erect a building structure on one’s property, written …
Keep calm and sell your property
Selling your property can often cause your hands to get itchy, or ants to start roaming where they have no business being. But more often than not rushing into the sale of the property leads to choices you’ll regret later. Several points need to be remembered once you’ve decided to take the plunge and dive into the property market. The …
Different types of home loans
In today’s economy, homebuyers often struggle to scrape together the money needed in order to buy their dream homes. Therefore, home loans have become so popular among prospective home buyers. New home loan providers noticed this and entered the mortgage lending market in order to satisfy this demand. Prospective home buyers are now spoiled for choice when it comes to …
High Court Rules: Amendments effective from 1 July 2019
Rule 32 Rule 32(1) determines the following: “The Plaintiff may, after the Defendant has delivered a plea, apply to court for summary judgment on each of such claims in the summons as is only: On a liquid document; For a liquidated amount in money; For delivery of specified movable property; For ejectment.” Previously, an application for summary judgment had to …
Does living in a secured estate give a false sense or true sense of security?
Choosing to live in a secured residential estate in South Africa is becoming ever more popular with South Africans. Entering your estate whilst security guards watch out for unknown assailants that may enter, living in your home peacefully knowing that the security guards are ensuring that people may only enter with your permission, giving the home owners a sense of …
Selling your property? How to stage your home
If you want to ensure that your property sells quickly, staging your home could help. If you stage your home, you are presenting it in the best possible light and condition, which will make it easier for potential purchasers to imagine themselves living there. So, how do you stage your home? Declutter your home When staging your home, the first …
Sale of Property agreements: Types of clauses
Non-Refundable or Forfeiture Clause Sellers are sometimes sold on the idea of including a non-refundable deposit clause in the Contract of Sale. More often than not, sellers are under the impression that they will be entitled to all of the non-refundable deposit or monies already paid to the conveyancer on account of the purchase price if the purchaser breaches a …
Homeowner’s insurance for landlords
Apart from paying off a bond on a rental property, property investors/landlords are usually also paying for homeowner’s insurance. What is homeowner’s insurance? Homeowner’s insurance covers the property owner against damages to the structure of the property. This damage could be caused by flooding, fire, wind, hail or other natural causes. However, the above is not the case with all …
What to look out for before buying a property
You’ve searched far and wide for the perfect home for you and your family, and you’ve finally found it, or so you thought. Buying a home, especially for the first time, is as overwhelming as it is exciting. You’ve viewed your dream home, but remember, you receive so much information during your viewing, that you could easily become overwhelmed and …