Quagga : Residential Advice
1. DON’T sell unless you have NO other option.
If possible when upgrading/ purchasing a new property try to retain your existing property, and place a tenant in this house so as to keep it as an investment for your future – recommends Len Pears from Quagga Property Brokers. If you have to sell try to wait until the property market improves, so you have a better chance at attaining your desired price.
2. Property remains the most lucrative investment and this will not change.
3. Residential rentals have over the past 12 or more months strengthened due to more families renting because of bond affordability being so high.
4. ABSA are now offering 100% home loans on purchase prices
5. Costs to remember when buying a residential property
a. Transfer duty:
- 0% on the first R500 000
- 5% on the 2nd R500 000
- 8% thereafter
These apply to individuals purchasing a property.
However if you purchase a residential property in a company you pay 8% of the purchase price for transfer duties.
b. Attorneys fee’s.
c. Moving fees
For more detailed information on these fee’s please contact Len Pears at Quagga Property Brokers on 08 28 28 28 58.
6. Buyers must insist on a Beetle Free and Electrical Clearance certificates when buying a residential property – normally this is at the seller’s expense.
7. SELLER – DO NOT sign any sale agreement giving the purchaser occupation prior to all suspensive conditions being approved and a deposit being paid as well as the necessary guarantees being received.
If possible when upgrading/ purchasing a new property try to retain your existing property, and place a tenant in this house so as to keep it as an investment for your future – recommends Len Pears from Quagga Property Brokers. If you have to sell try to wait until the property market improves, so you have a better chance at attaining your desired price.
2. Property remains the most lucrative investment and this will not change.
3. Residential rentals have over the past 12 or more months strengthened due to more families renting because of bond affordability being so high.
4. ABSA are now offering 100% home loans on purchase prices
5. Costs to remember when buying a residential property
a. Transfer duty:
- 0% on the first R500 000
- 5% on the 2nd R500 000
- 8% thereafter
These apply to individuals purchasing a property.
However if you purchase a residential property in a company you pay 8% of the purchase price for transfer duties.
b. Attorneys fee’s.
c. Moving fees
For more detailed information on these fee’s please contact Len Pears at Quagga Property Brokers on 08 28 28 28 58.
6. Buyers must insist on a Beetle Free and Electrical Clearance certificates when buying a residential property – normally this is at the seller’s expense.
7. SELLER – DO NOT sign any sale agreement giving the purchaser occupation prior to all suspensive conditions being approved and a deposit being paid as well as the necessary guarantees being received.
