Knowledge

As a Conveyancer and Notary, I often see Purchasers signing an offer without realising the implications of small discrepancies. The Purchaser is often the forgotten party in the transfer process. It is the prerogative of the Seller to appoint the transferring attorney, but the Purchaser pays the fees. As Purchaser, you can, however, choose the Bond Broker and you should insist on this. Although the transferring attorney focuses on giving effect to the agreement of sale, they take instructions from the Seller first and foremost. Who looks after your rights as a Purchaser if things go wrong? The Bond attorney [...]

Maximising the full potential of your property begins with a consultation with a Conveyancer and Land Surveyor to determine the viability of opening a sectional title register or subdivision. Opening a sectional title register requires no advertising, no neighbours’ consent and is much quicker to finalise. The Land Surveyor will consider by-laws/land use regulations and zoning. After perusal of all the applicable title deeds, the Conveyancer will issue a certificate confirming that there are no title conditions that prohibit sectionalisation of the property. The Conveyancer will also advise what notices should be given to any tenants. The Land Surveyor will [...]

We sometimes file important documents so well, we cannot find them again! If you have a bond over your property you will not hold the original title deed as the Bank will hold it as security. Replacing a lost original deed entails advertisements, is time consuming and can cause huge delays. What normally happens to the original title deed? After the property has been transferred into your name at the Deeds Office, the data is captured, and the Deed and supporting documents are scanned onto the microfilm system. The original is then delivered to the transferring attorney who will deliver [...]

Having been involved in property law from all angles, I have spent many weekends sitting show houses on Sundays and public holidays. I know how much time and effort estate agents spend to get a deal signed, sealed and delivered. Offers often get scanned and mailed many times as buyers and sellers can be scattered around the world. If there is one thing that can cause delays in the transferring process, it is an incomplete or unreadable offer! Apart from obvious implications should a dispute arise, the bond application will be delayed if the offer to purchase is vague or [...]

..Rather put the bubbly on ice and get started with your home loan application! If the property is sought after and well priced the agent will most probably continue marketing - just in case. Most offers have a continuous marketing clause. Until you have accepted and signed a final quotation from the Bank your deal is not secure. Should the Banks decline you are not held to the contract because it did not come into existence. A double-bladed sword indeed but still in your hands to control. Your Bond broker will advise what documents are needed and from then on [...]

Technology is your friend. The more things change the more they stay the same. We all despise call centres and we expect personal and professional service. Although digital technology and artificial intelligence is the latest buzz word, no one should be a mere statistic. A knowledgeable bond broker will act as negotiator attending to your financial expectations while the bank covers the fee and you give the instructions! A hassle-free win-win situation for the client all the way to the Bank! I can never understand why buyers are urged to complete online home loan application forms to determine what they qualify [...]

Learn to think smart. Distraught Ms B was referred to us by her insurance broker after her home loan application for an investment property was declined by her own bank. Ms B is a freelance music teacher at a private school. Her income varies as the students number vary from term to term and during school holidays there is no income. After a proper consultation a good motivation and the correct presentation of the proof of income, In House Bond Brokers was able to prove her affordability. Not only did we secure a 100% bond for her at her own [...]

My success is no accident. Referred by a friend Mrs C was dubious she would qualify for a bond in South Africa. As a foreigner living in South Africa on a retirement visa she does not earn an income. To complicate the matter her husband works in Angola every 5 weeks resulting in a varied income stream. To top it all he earns pounds and works for an American company! In House Bond Brokers secured a home loan and they made South Africa their home. What an amazing feeling to assist foreigners who are positive about South Africa and want [...]

Focus on being compliant. As a Self Employed individual, I have on many occasions shared the frustration of my clients when applying for a home loan. Why would a self- employed individual be seen as a higher risk by the Banks? Surely a self-employed individual could reduce expenses or move to smaller premises in a time of crisis? Some Banks even have a risk weighting for self- employed individuals. The Receiver of Revenue provides the self-employed individual several tax deductions such as telephone deductions, entertainment and rent to name but a few. Actual repayment ability might therefore not correspond with the [...]