Three key roleplayers in the property selling process
During the property transaction process there are various parties involved. Often though, the focus falls on just the buyer with not enough emphasis placed on the critical roleplayers that sellers deal with. In your property journey as a seller, you will most likely deal with an agent, certification specialists and attorneys.
CEO of Greeff Christie’s International Real Estate, Mike Greeff, says more priority is given to the needs of buyers as they seem to be the ones who require step-by-step guidance.
“We believe that the focus should also be on sellers as they are selling their most prized possession and will more than likely be extremely wary of who they get involved with,” says Greeff.
Greeff Christie’s International Real Estate offers a list of the experts whom sellers encounter during their sale:
Renovating your home? Why you need contractor’s guarantees
Embarking on building renovations or building a new home without a comprehensive contract, including stipulated construction guarantees, is very dangerous according to attorney PJ Veldhuizen of Gillan and Veldhuizen Inc., which has represented many clients involved in legal battles with building contractors who, despite having been paid, have failed to pay third party sub-contractors and subsequently gone insolvent. The unpaid third party sub-contractors in turn refused to complete the assigned work, for obvious reasons.
The stereotypical tale of a builder mismanaging cash flow and leaving sub-contractors and owners high and dry in the middle of a building project can easily be avoided with what is known as a ‘contractor’s guarantee’.
Student accommodation a ‘golden opportunity’ for SA investors
In recent years, there has been a significant increase in purpose-built student accommodation in South Africa, yet we are still behind the curve in terms of supply versus demand compared to developed countries. This is good news for investors wanting to get into what is deemed to be a highly profitable property sector.
Every year as September nears, thousands of students start seeking accommodation near their university of choice. There are a number of factors that determine what is considered 'good student accommodation'. Location and cost are the biggest factors. The closer to campus, the better, and if the apartment is fully furnished, better still. Wi-Fi is also an attractive feature, and so is good security.
Property performance by age: Freehold vs sectional title vs estates
A recent report, Property Performance by Age, gives insight into the South African residential market, comparing price growth of freehold, sectional title and estate property.
Lightstone, provider of property analysis and insights, has released results which show that of the Freehold and Sectional Title property sales, ‘Generation Z’ - properties registered between the 1991 and 2000 - has been “leading the charge” with a steady year-on-year price performance increase. Lightstone’s findings show…
Tourism could be SA's savior: What's with the Airbnb regulations?
President Cyril Ramaphosa has just delivered his second State of the Nation address and, while he attempted to instil hope throughout the country, it is safe to say that tough challenges lie ahead.
Economically, South Africa as a country is struggling. Recent data released by StatsSA showed a 3.2% contraction in the economy in the first quarter of 2019 with (official) unemployment sitting at an all-time high of 27.6%. At times like these, creating and encouraging - not hindering - entrepreneurs is perhaps what we as South Africa most need.
An area that perhaps is one of the most exciting to be an entrepreneur in is tourism. President Ramaphosa himself has previously said that this is “a sector that is thriving and that has tremendous potential for further growth and for the creation of jobs”.