12th April 2022
THE VOESTOOTS CLAUSE AND PROPERTY SALE AGREEMENTS During the initial waves of the Covid-19 pandemic in 2020 and 2021, there was an unexpected strength in the South African housing market which resulted from first-time purchasers responding to the decrease in interest rates. Purchasing a home is an exciting prospect for most people. However, some purchasers have found that buying a home can be as stressful as it is exciting. When a seller (or a seller’s estate agent) puts a house on show, they will typically focus on all of the […]
6th December 2021
IN WHAT ENTITY SHOULD YOU PURCHASE A PROPERTY? As property is a big investment, the entity you choose to purchase your property in could have a major impact on your finances. It is a very important decision. The answer in respect of which entity you choose is not an easy one as there are numerous factors that must be taken into account. In the majority of cases when spouses are purchasing a primary home, it would be advisable to register the property in the names of both spouses. However, this […]
10th July 2020
The importance of a Ratification Clause in a Property Sale Agreement A Ratification Clause allows a seller to continue marketing their property after receiving an offer and to accept a second offer if certain requirements are met and the required notice is given to the purchaser who made the first offer. Ratification Clauses come into play when a sale agreement contains suspensive conditions. What is a Suspensive Condition? A condition which suspends the operation of an agreement of sale until the specific condition contained in the agreement has been complied […]
11th February 2019
Buying or selling a property can be confusing at times, but it does not have to be. We have set out the basic steps of the property transfer and bond registration process for you here. These are the basic steps of a property transfer and bond registration process: An Offer To Purchase is drawn up by an attorney, estate agent or the parties themselves; The Conveyancer will request the Title Deed of the property and certain documents from the seller and purchaser to draft the transfer documents and then set […]