Consulting

When buying property in South Africa, you should always appoint consulting services beforehand to ensure your property purchase in Cape Town is overseen by professionals from the word go. Foreign buyers in particular should always take note of the following before signing an offer to purchase: Buyer's name: Who is the purchaser of the property? There are two possibilities whereby the property can either be purchased in the company or owner's name. Pros and cons must be weighed with respect to the use of such property. and we would be happy to advise you accordingly in this regard!


Consulting Cape Town - South African Property Contract - Real Estate Law

Consulting South Africa Bank


 

Consulting

When buying property in South Africa, you should always appoint consulting services beforehand to ensure your property purchase in Cape Town is overseen by professionals from the word go. Foreign buyers in particular should always take note of the following before signing an offer to purchase: Buyer's name: Who is the purchaser of the property? There are two possibilities whereby the property can either be purchased in the company or owner's name. Pros and cons must be weighed with respect to the use of such property and we would be happy to advise you accordingly in this regard!


Property Consulting - Purchase Cape Town properties Deadlines: As a rule, the payment of the deposit (the down payment), usually 5 to 10% of the purchase price, is due upon acceptance of the offer. This automatically puts the buyer under pressure where he could very easily breach contract, should he not be able to make payment immediately. Deadlines will be applicable through the entire transfer process of the property.

 

Remarks: Opt for more lenient deadlines, requests of up to 10 business days are usually permitted with respect to the deposit. If you have any other deadlines, always request extensions of 10 to 15 working days in order to be able to deal with any surprises in a timely manner.  

 

Is financing required? With the exception of a cash-buy (payment of the purchase price without any local or German financing), the buyer should always pay attention that the contract-cancellation clause regarding the financing of the purchase price not to be removed from the purchase offer. As a rule, 50% of the purchase price can be financed locally. If, contrary to expectations, financing is not granted, the offer expires and no purchase contract is concluded.

 

Remark: In principle, you should always include this clause in your offer to purchase as an escape route should the deal fall through.

 

Voetstoots (buying as is): The property is usually sold in the condition in which it was at the time of the viewing or at least at the time of signature of the purchase contract.

 

Note: If you have requested changes from the seller as a condition of sale, you must state this in writing in your offer to purchase.

 

Acceptance deadline: An offer  to purchase is only valid for a short time and can be a means of applying pressure on the seller if you keep it short.

 

Note: select deadlines in accordance with your stay in South Africa so that you are able to be present for necessary appointments and signatures.

 

Fixtures and Fittings: Any items that are permanently associated with the property may not be removed from the property without a contractual agreement when sold. These include, for example, built-in kitchens, fitted kitchens, garden plants, etc.

 

Note: If you are not sure which items belong to the house, you should list these items in your offer to purchase.


Your Cape Town Property Team

 

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