Is bond switching the key to lower mortgage payments?
In recent years, bond switching has become an increasingly popular choice among homeowners looking to reduce their monthly payments, access better loan terms, or take advantage of improved interest rates. But is switching your home loan the right move for you? Before making any decisions, it’s important to understand what bond switching entails, the potential […]
Are you obligated to pay arrear levies when purchasing a sectional title unit? Part 1
Recently, the High Court and the Supreme Court of Appeal (SCA) was required to interpret Section 15B(3)(a)(i)(aa) of the Sectional Titles Act 95 of 1986 in relation to a sale in execution in the case of the Body Corporate of Marsh Rose v Arno Steinmuller and others. The Sectional Titles Act 95 of 1986 stipulates […]
Navigating the Real Estate Market: Tips for Buyers
Understanding the real estate market is crucial when buying or selling a property. The market’s current favour, whether for buyers or sellers, significantly impacts your decisions and strategies. Buyers’ market: When the real estate market leans towards buyers, it signifies that there’s an abundance of properties available for sale compared to the number of active […]
Understanding Mortgage Bond Cancellation: Key Steps and Considerations
In South Africa, the process of cancelling a mortgage bond is commonly necessitated when a property is sold or the bond is fully paid off. This procedure is intricate, consisting of several critical steps: Step 1: Notice of cancellation Initially, the property owner must submit a notice of intent to cancel the bond to the […]
Should sellers provide approved building plans when selling property?
The simple answer is no. However, the National Building Regulations and Building Standards Act mandates that local authorities approve building plans for the construction, alteration, or conversion of a building. Consequently, if approved plans are absent, the property owner would be committing a statutory offence. Once signed by both parties, an offer to purchase becomes […]
Should sellers provide approved building plans when selling property?
The simple answer is no. However, the National Building Regulations and Building Standards Act mandates that local authorities approve building plans for the construction, alteration, or conversion of a building. Consequently, if approved plans are absent, the property owner would be committing a statutory offence. Once signed by both parties, an offer to purchase becomes […]