Posts Tagged ‘legal’

3
Sep

How many houses can I build on my Vaal River property?

by Annalien in Advice to buyers

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Many of our clients are usually flabbergasted by the fact that even if they own a very big piece of river property, they are only allowed to build one or two (or sometimes one and half) houses on it - while others are allowed three and even five houses! How does it work? We get ...

3
May

These yellow beacons on your Vaal river property, what do they indicate?

by Annalien in Advice to buyers, FAQs, Vaal river info

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It is a popular myth on the Vaal river that the yellow Rand Water beacons on a river property indicate where the flood line is. These yellow poles specifically do NOT indicate the flood line. They actually indicate the beginning of Rand Water's property! The history behind these yellow beacons is that in 1923 Rand Water ...

11
Mar

What are the rules for foreigners to buy property in South Africa?

by Annalien in Advice to buyers, FAQs

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If you are a foreigner and interested in buying property in South Africa, you may find the following useful: First of all, you must be a 'legal' foreigner, i.e. in possession of either a temporary or permanent residential permit; You will be required to pay a deposit of at least 50% of the purchase price; You will also have to ...

16
Jan

Can a buyer revoke his offer to purchase of a property?

by Annalien in Advice to sellers, FAQs

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A buyer may revoke his offer to purchase, if: The purchase price of the property is R250 000 or less, and The offer was made by a natural person (not a company or CC), and It is done within 5 days, in writing, and The property was not bought on auction.

4
Jan

What is the difference between a mandate, an open mandate, a sole mandate and an exclusive sole mandate?

by Annalien in Advice to sellers, FAQs

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What is a mandate? When a seller instructs an agent to sell his property in return for payment in the form of commission and the agent accepts the instruction, a mandate has been formed. What is an open mandate? This means that any agent who received a mandate is entitled to market and sell the property. No agent ...

29
Oct

Servitudes on a property; 4 things you need to know.

by Annalien in Advice to buyers

What exactly is a servitude? A servitude is a registered right that a person has over the immovable property of another. It allows the holder of the servitude to do something with the other person’s property, which may infringe upon the rights of the owner of that property. An example is the right of way to ...

1
Dec

Conveyancing is NOT a simple process and sellers must beware!

by Christian in Advice to sellers

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Mistakes and delays are time-consuming, not to mention very expensive. According to South African law it is the seller's prerogative to appoint  a conveyancing attorney to handle the legal and accounting aspects of his deal,  but seller's are often not involved enough in the whole process. Sellers often feel that the attorney they appointed should not be ...

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