select
|

TOP 5 TIPS ON DEALING WITH AN UNEXPECTED OFFER TO PURCHASE

For a property owner who had not envisaged selling his/her property, an unexpected offer to purchase may be well worth considering. Adrian Goslett, CEO of RE/MAX of Southern Africa shares his top five tips on how to deal with such an offer in a safe and efficient manner.
 
ANALYSE CURRENT PROPERTY TRENDS IN YOUR AREA
As and when approached with an unexpected offer to purchase, Goslett advises property owners to first and foremost obtain information about current property trends and the market value of their property to ascertain if the price offered is fair and attractive enough to consider.
 
REVIEW YOUR FINANCES
“Aspects such as outstanding bond repayments as well as the tax and financial implications of selling your property need to be carefully considered before making a decision,” notes Goslett. Also look at whether or not your property serves as surety for other investments you have as this would need to be renegotiated.
 
RESEARCH FUTURE DEVELOPMENT PLANS
Information pertaining to future development plans for the area and the expected growth in property values over the next few years will also help property owners in making the right decision. “A new and upcoming shopping centre or upmarket security estate in close proximity to your home, for example, will have a positive effect on property prices in the area. Hence, property owners may decide to rather hold on to their property for the time being,” says Goslett.
 
ENQUIRE ABOUT THE BUYER’S INTENTIONS FOR THE PROPERTY
It will also be valuable to know whether or not the offer to purchase is subject to town planning and/or zoning approval. “A buyer who wants to rezone your residential property for business purposes, for example, may want the opportunity to reconsider his purchase offer if business rights can’t be obtained,” explains Goslett.  
 
CONSULT A PROFESSIONAL
He adds that property owners who receive an unexpected offer to purchase should also consider obtaining advice from a conveyancer or reputable estate agent. “By doing so, property owners can rest assured that all pros and cons will be explained in a professional and objective manner,” he concludes. 

ISSUED BY GREEN GRAPES COMMUNICATIONS ON BEHALF OF RE/MAX OF SOUTHERN AFRICA


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
    • 16 Nov 2017
      Cape Town’s popularity as a world-class tourist destination has resulted in a spike in the number of homes available for holiday lets and fuelled investor demand for sectional title units with short term rental potential.
    • 15 Nov 2017
      Sappi, one of South Africa’s oldest global companies and a leading global supplier of sustainable woodfibre products, has moved its global and regional headquarters to a new site on the corner of Oxford and 14th Avenue in Rosebank.
    • 15 Nov 2017
      There’s an old saying in real estate that you should seek to make a profit when you buy, not only when you sell – and a large part of succeeding at that endeavour is buying a home in an area with desirable features that will enhance the resale value of your property.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK