Posts Tagged ‘real estate’

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 ...

18
Feb

What fees must a buyer be aware of when purchasing an immovable property?

by Annalien in Advice to buyers

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Transfer duty is a tax that is levied by SARS on a property transaction and is payable by the buyer. Transfer duty is charged on a sliding scale depending on the price of the property – the more expensive it is, the higher the transfer duty. From the 23 rd of February 2011 Transfer Duty For ...

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 ...

13
Nov

When will I be paying Capital Gains Tax on my primary home?

by Annalien in Advice to sellers, FAQs

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CGT forms part of your income tax and is a tax on the profits you make from selling something that you own (that is not otherwise taxed) It therefore only comes into effect when you dispose of an asset, called a CGT event. You will NOT be paying CGT on your primary residence if: it is registered in the ...

6
Nov

Obtaining approval in principal from your bank

by Annalien in Advice to buyers, FAQs

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Following up on our previous blog about obtaining an Approval In Principal from your bank to make your Offer to Purchase more appealing, here are some more details. What are the advantages of obtaining a pre-approval? Before searching for a home, you can obtain pre-approval for a loan of a certain amount from a bank or through ...

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 ...

21
Aug

Must all home owners pay municipal rates and taxes? Even if you live in a complex?

by Christian in FAQs

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Since 2009 it is the responsibility of every home owner in South Africa to pay taxes to the local authority, no matter how the property is registered; full title, sectional title, real right, share block. It is vitally important that the rates and taxes on your property are paid up to date, for without a clearance ...

3
May

Affordable river properties for sale in May

by Christian in Featured properties, Investment opportunities

Parys house for sale - R850 000 Guest house in the pretty little town of Parys, with an income of up to R15k per month! Set in a lush garden with fruit trees and a wrap around stoep, this little house has been the abode of many a weary traveler on a fishing or kayak expedition, ...

6
Apr

Who Killed Our Dinosaurs In Parys and Surrounding Areas?

by Christian in Vaal river info

Well, if our scientists are to be believed, the answer is probably a big stone from heaven! In fact, this stone can probably also be blamed for a good many other things as well; like it might also have been the cause for the rich diamond and gold ore that can be found in the ...

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