“Our stats show that the average home price in the first-time buyer sector has risen by almost 10% in the past. 12 months”. One of the common experiences estate agents have with banks these days is the granting of lesser
What to do when you can’t afford your mortgage repayments
In today’s economic environment, where affordability is an issue for many, the reality is that for various reasons, some homeowners who’ve bought their homes on credit and are experiencing considerable financial pressure, simply cannot make their mortgage repayments. And after
My levy statement is reflecting an extra levy this month
Compiled by Monique Oosthuizen You have opened your levy statement this month and, to your dismay, noticed that the levy fee has increased. Scanning through the line items, you notice the following: “CSOS levy” “Monthly levy” “Reserve fund levy” So,
Is CSOS the answer to our SOS?
It’s estimated that already some 2 million households live in 550 000 sectional title complexes countrywide. With an average of 4 members per household, that constitutes to approximately 8 million people, with different temperament and values, living in very close proximity
Conveyancers: Do I need one?
Conveyancing is the legal term for the process whereby a person, company, close corporation or trust becomes the registered and legal owner of immovable property and ensures that this ownership cannot be challenged. Conveyancing in South Africa can only be
Does the “cooling off” period apply to all sale agreements?
The cooling off period in sale agreements allows property buyers to change their minds, should they later realise that they do not want to do through with the sale. In South African Property Law, in terms of Section 29 of
Co-owning property with someone else: The ups and downs
What is co-ownership? Co-ownership is when one or more people jointly own the same property. In essence, it is when they legally share ownership without dividing the property into physical portions for their exclusive use. It is thus commonly referred
What is the sale agreement?
Whenever you buy or sell a house you will encounter the sale agreement, which is also called an “offer to purchase”. This is a contract between a buyer and seller and covers the terms and conditions governing the sale of