Web Bytes

Web Bytes 202

Controversial Expropriation Bill is 'shelved'
Business Day - South Africa
CAPE TOWN - Despite one of the most intensive programmes of public hearings in the democratic Parliament's history, "lack of proper consultation" has been cited as the reason for "shelving" the controversial Expropriation Bill.

Parliament's public works committee held hearings in all of the provinces and in the National Assembly on the draft bill. There was an explosion of objections to the bill and dire warnings that if enacted it would undermine the property market, scare off foreign investment and contravene the constitution's property clause.

While there have been expressions of gratitude from opponents of the bill on the news that it had been shelved the status of the bill was still unclear yesterday.
Business Day

If you only buy one property before you die...
RealEstateweb - South Africa

Are you overlooking the most important reason for home-ownership?

Amid the slew of house price data and analysis available these days it is easy to get caught up in the details of the numbers - and forget the main reason we should buy property in the first place.

Ultimately it should be about having a home that is yours to decorate and live in as you decide and, more importantly, that no-one can take away from you. It should not be encumbered with debt, so you can eliminate what is usually the biggest living expense.

And, at the very least, you should own your home by the time you retire. This is because your income is likely to decline quite rapidly from that point while general expenses will rise in line with inflation.

Instalment Sale Agreements - a Solution to the Credit Crunch?
Privateproperty.co.za - South Africa

Selling property in the current market can prove to be frustrating. Many property sales are collapsing because the potential buyer is unable to obtain the necessary bond to cover the purchase price.

In fact, as many as 50% of all bond applications are unsuccessful, mostly because of the implementation of the National Credit Act, as banks now have to focus more on qualifying the buyer as opposed to qualifying the property for the loan, and are subject to penalties should they be found negligent in their lending policy. Banks are also no longer able to simply attach and sell a property in execution on loans granted after June 2007 if a home owner defaults on his or her bond instalments, as the court may make a finding that the bank had lent out money recklessly.

Leave a comment:

Security Picture (click to change)
Word shown in picture:
menu close

Search Articles