How to minimise red tape during the home buying process

Buying a property could be a challenging process and buyers need to be very mindful of every single aspect that could impact on their property at the time of buying and also in future.

Getting side-tracked by something like the financing or transfer process of a home is of course very likely, but losing track of important factors as stated below could have negative repercussions if not addressed at the outset.

Steve van Wyk from Seeff Centurion offers the following tips to keep in mind when buying a home in order to avoid unnecessary pitfalls and red tape:

Ask the agent for a CMA (Comparative Market Analysis) of the property. Let the agent explain how the value of the property was determined. 

Establish the cost involved in the purchasing of a property.  Not only is the purchase price important, but also the transfer duty, bond cost, attorney cost etc. Find out if there are any hidden costs, such as the replacement of equipment in the property which is not included in the sale.  Also determine affordability, for example what the effect of a hike in the interest rate would be. Will you still be able to afford the repayments should the interest rate go up by 2 or 3 %?

Establish exactly what is included and not included in a sale.  If anything has to be removed and replaced by the seller, stipulate that in the sales agreement.

Ask the agent about patent defects. Did the seller disclose everything? Make sure that everything is specified in the sales agreement. You don’t want any surprises when you first move into the house.

Do a proper inspection of the property.  Look for any sign of dampness, cracks etc. 

Are the plans of the property approved, and is there an undertaking by the seller to provide these plans?

Establish whether there are any major changes in the area on the horizon, for example a change in the road structure (are new roads, bus routes etc planned?), or is there the possibility of a commercial development taking place in the immediate surroundings?

Do not negotiate anything verbally. If it is not contained in the written agreement of sale, it is not part of the conditions of sale that has been agreed between both parties.

Does the property comply with all legal requirements, and is there an undertaking by the seller to supply confirmation thereof eg Gas Certificates, Certificate of Electrical Compliance, Electric Fence Compliance, etc?

Lastly keep in mind that a professional Estate Agent will guide the buyer through the process and help to make the transaction a happy and stress free.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 22 May 2018
      Extreme weather appears to be the new normal, evident by the volume of insurance-related disputes reaching the industry watchdog’s desk. To avoid a situation in which your insurer refuses to pay up, you should proactively ensure that your home is well-maintained and ready for whatever winter has in store.
    • 22 May 2018
      As the impact of technology on the real estate industry becomes more significant, it is clear that there is a need for an objective look at not only traditional real estate models but also online and other alternative low-commission real estate agencies, to examine what they offer and what their impact might be.
    • 22 May 2018
      According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, dealing with some sort of neighbour dispute is an unavoidable part of life unless, perhaps, you choose to live on a remote small holding for the rest of your life.
    • 22 May 2018
      Buyers feel that they are getting value for money in the Northcliff area without having to compromise on aesthetics and amenities
    • 21 May 2018
      Secure living is one of the growing property trends in South Africa and Nooitgedacht Estate in Stellenbosch certainly ticks the right boxes for buyers who want a secure, exclusive lifestyle in one of the Boland’s most sought-after estates, says Pam Golding Properties.
    • 21 May 2018
      With sectional titles growing in popularity, an increasing amount of homeowners simply do not have the garden space to install a tool shed in their backyard.
    • 18 May 2018
      Home improvements are a great way to add value to your property, but not all of us have bottomless pockets for a full-on renovation. Lucky for us, there are plenty of affordable DIYs that can spruce things up over a free weekend.
    • 18 May 2018
      The need for large office spaces is slowly eroding as more and more employers choose to allow their staff to work remotely. As a result, the home business model has grown in popularity, with many new entrepreneurs choosing to start their business from home rather than in a business district. But, what are the legal implications of operating a business in a residential area?
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us