REDZ etc

Decide on your requirements, list the essential features you need, and consider the location, affordability, proximity to amenities, and resale potential.

First, determine what you can afford to spend on your home. If necessary, obtain a loan from a financial institution, but do not spend more than 25-30% of monthly gross income on the repayment of the loan. Consider providing a large deposit and making provisions for fluctuating interest rates.

Conveyancing is the process of legally transferring property ownership from the seller to the buyer. The transferring attorney or conveyancer charges the buyer a conveyancing fee for registering the transfer of the property.

When purchasing a property the buyer has to pay Transfer Duty on the purchase price.

In the event that the seller is a registered VAT vendor, then the buyer is exempt from paying Transfer Duty because VAT of 15% will be included in the purchase price. The buyer therefore only pays Transfer Duty if the seller is not a VAT vendor.

The potential seller should be absolutely sure that they want to sell and should not put their property on the market to “test” the market or to find out what price their property should fetch.

The seller is responsible for providing compliance certificates for electricity, electrical fencing, plumbing, gas, and beetles to the buyer.

Some tips for making a property more saleable include making the entrance attractive, getting rid of clutter, cleaning the windows, keeping walls neat and clear of marks, making sure all light bulbs work, keeping cupboards and drawers neat, revamping kitchens, keeping bathrooms clean and minimal, and ensuring that smells in the home are always pleasant.

Overpricing a property when it initially goes on the market will likely be the main reason that it does not sell as soon as anticipated.