Steps to buy this property
So you decided that you like what you have seen so far. This might be the property you have been looking for but you would like to visit this property before you make an offer.
Here are the recommended steps forward.
- Home Inspection
Arrange with the seller to visit the property. Walk through the property and thoroughly look with a critical eye. (It is very important not to rush as “I did not see that” will not be a defence later). Get the feeling if this is the right home in the right area for you. Now inspect the condition of the property. Acquaint yourself with the following:
- Cracks in the walls
- Water marks/leaks on the ceiling
- General condition of the paint
- General condition of the kitchen, cupboards & tops etc.
- General condition of the flooring, tiles, carpets, etc.
- General condition of the bathrooms
- Check the windows and sliding doors
- Is the property equipped with any gas systems e.g. stove or air conditioners?
- Does the property have a working alarm or electric fence?
- Ask how many geysers the property has and whether all is connected and in working condition, especially if there is an outbuilding with a bath/basin/shower.
- Does the property have air conditioners and/ or ceiling fans and is it in a working condition?
- Is there a swimming pool, pool pump, lapa, built in braai, outside buildings?
- Is there an irrigation system or a borehole and is it in working condition?
- Is there an electric motor on the gate and or garage doors and is it in working condition?
- The condition of the garden, plants and trees
- Do an estimate of what repairs will cost you
- Take photos for future
- Make an offer
You can make a verbal offer to the seller to test if he will accept it. Remember though, when selling immovable property a verbal offer is not binding. When you are only testing the waters make sure the Seller also understands your offer will only be binding once it is in writing and both parties have signed. Get the sellers response or counter offer. Find common ground on what is acceptable. Once you reached an agreement on the price, arrange when and where the contract will be signed. The Seller must download the offer to purchase and hand or e-mail it to you to sign. Try and sign the offer as soon as possible. Remember that the offer is only binding if it is in writing and signed by all relevant parties (all current owners and all the buyers). Make sure you have a copy of the offer in your hand.
The following must be taken into account when making an offer:
- Can I afford the transfer and bond registration fees (if a bond is needed to purchase the property)
- Is the offer subject to the sale of another property (Seller might not accept this condition)
- Is the offer subject to you getting a mortgage bond? (ensure it is written in the offer)
- Will you pay a deposit, and how much
- Set an occupation date and agree to the occupation rent
- Write all other conditions agreed on in the contract such as what the seller must repair, what will be removed, what should stay, are there approved building plans etc, etc. –REMEMBER IF IT IS NOT IN WRITING IT DOES NOT EXIST AND WILL NOT BE ENFORCEABLE!!
- Send the contract to the Transferring Attorney to assist you further
When advertising FREE on this website it is mandatory to use the attorneys of the website.
- Apply for a bond
Our bond originators can assist you to apply for a loan at most of the major banks. Use them without having to pay an additional fee. They will negotiate with the banks to get you the best interest rate.