What are the biggest challenges of the South African real estate market?
Discover key challenges shaping South Africa’s real estate market, from urban demand to affordability. Learn how to navigate property investments effectively.
Top 20 buying a property Pros Three Rivers, 2024
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Frequently asked questions
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How can I be sure that the property I’m buying is worth its money?
It can be hard to tell if the property you’re buying is overpriced or is it worth your money. Be sure you ask your realtor some questions that will better determine the state of the property. Such are: How long has the property been on the market?; Has the property repeatedly changed ownership over a relatively short period of time?; Has any major work been done to the property?; Will the sellers agree to a home inspection?; Is there traffic/aircraft noise at certain times of the day?; Are plans available for the property?
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How long does it take to buy a property?
On average, to buy a house in South Africa, it takes around three months from the date of sale until the property is registered in the new owner’s name.
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Is an offer to purchase legally binding?
A signed offer to purchase is a legal document that is binding. The document outlines the purchase agreement, which includes the terms and conditions related to the property in question. By signing the offer to purchase, the buyer agrees to the terms stipulated in the documents, including the price they are willing to pay for the property. If the seller is happy with the price offered by the buyer, the document becomes a legally binding sale agreement.
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Why should I hire a real estate manager when buying a property?
Hiring a real estate agent comes with a lot of benefits. A good real estate agent should provide unique insight into the local property market that will help you buy or sell the right property for the right price. He should also be able to provide you with some sound advice and can point you in the right direction of legal, financial and other skilled professionals to answer any questions you might have. A good real estate agent should make sure you get a good value out of any deal.
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