Emigrated and selling your house? Beware of withholding taxes
Many South Africans who simultaneously emigrate and cease to be South African tax residents are faced with a situation where the sale of a fixed property has not been finalised by the time they cease to be tax residents. This may result in the unintended consequence of them becoming a non-resident seller of immovable property in South Africa. In terms […]
What tenants need to know to protect their rights
Must my residential lease agreement be in writing? It is currently not a requirement for a residential lease agreement to be in writing – a verbal agreement where the rent and rented property is identified is recognized by South African common law and is just as valid as a written agreement. This may, however, not remain the position for much […]
Have you outgrown your current home?
Knowing when to move is not always as straight forward as one might think. At times, the need for a change is apparent and unavoidable, but other times, it grows over time and may even go unnoticed. Let’s have a look at a few of the biggest indications that it might be time to move house. Growing pains A […]
Ensuring the well-being of the community
Finding the right home is not only about finding an architectural structure that meets your requirements (three bedrooms, sun in the afternoon, a yard for the dogs, access control for the kids, etc.). The search is as much about finding a community you want to become a part of. For many residents, the community that surrounds them is governed by an […]
How will the POPI Act affect the real estate industry?
On 1 July 2020, the enactment of the Protection of Personal Information Act (POPI Act) commenced, which will come into full effect on 1 July 2021. As its name states, the POPI Act aims to promote the safeguarding of personal information by putting in place the necessary regulations and legislation needed to realise this. Since its acceptance into parliament on 19 November 2013, the […]
Make the property transfer easy by picking the right conveyancer
Since property transfers are some of the highest-value transactions that you may make in your lifetime, it naturally follows that you need to ensure that you don’t let your money go to waste – especially when choosing someone to handle the process for you. Choosing the right conveyancing attorney can save you a lot of headaches down the […]
Thinking of buying instead of renting?
The property market has been labelled a buyer’s market for most of 2020. Even though this year has proven to be disastrous in many respects, many factors have been beneficial for property buyers. From the historically low interest rates and the adjustment of the property transfer threshold, to lowered property prices, the market opened its doors to buyers (at least figuratively speaking for most of […]
Buying and selling: Avoid the potential nightmare
Buying a new home is always an adventure – but what if you’re still trying to bring a previous adventure to a close? Facilitating the transition of homeownership comes with an array of concerns that are unavoidable when the purchase of a new home and the sale of an old one occur simultaneously. The two primary concerns for buyers who are sellers at the same time are finances and logistics. If the transition is to be facilitated successfully, […]
Real Estate – The smart investment
Buying real estate is more than finding the right home or location for your business – owning property is an investment that holds more benefits than you might know. Income Predictability While interest rates may alter mortgage repayments at first, real estate offers a somewhat constant financial investment. Once home loans are repaid in full, real estate offers the owner a constant income that does […]
Fast forward your property transfer
Buying a house is a big decision, one in which the buyer will have invested numerous hours of research, planning and careful consideration. It makes sense then that a buyer would want their property transfer to be finalised as quickly as possible. But while property transfers are of nature a time-consuming process, there are steps buyers can take to make sure the […]