Navigating Property Disputes: A Guide for Owners and Tenants
Property disagreements can be stressful and costly if not handled effectively. Whether you’re a homeowner, tenant, or landlord, understanding common disputes and how to prevent them can save you significant time and money. Common Property Disputes You Might Encounter Property disputes usually revolve around ownership, usage, or responsibility for a property. These can occur in […]
Can You Back Out of a Property Purchase? Legal Consequences Explained
Purchasing property is one of the most significant financial commitments a person can make. It often involves high financial stakes, emotional investments and a legally binding contract. But what happens if you need to back out of a sale after signing an offer to purchase? Whether due to a change in financial circumstances, buyer’s remorse, […]
Subdivision and Consolidation of Land
Do you have a big piece of land that is becoming expensive and labour-intensive to maintain? Or perhaps you have two adjacent properties you’d like to combine into a larger erf? Subdividing or consolidating could be the ideal solution for you. Subdivision of your property has many benefits for you as the owner. Subdividing can […]
Empowering Homeowners: How the CSOSA Transforms Community Living in South Africa
Community living in South Africa, whether in homeowners’ associations (HOAs), sectional title schemes, or housing estates, comes with unique challenges. Disputes over governance, finances, and maintenance can disrupt harmony and strain relationships. Enter the Community Schemes Ombud Service Act 9 of 2011 (CSOSA), a groundbreaking law designed to address these issues and empower homeowners and […]
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 […]
Understanding Homeowners Associations (HOAs)
If you are considering buying a property in a housing development, it’s essential to understand what a Homeowners Association (HOA) is and how it operates. HOAs are legal entities responsible for managing and regulating housing development schemes. Although homeowners own their individual properties, the HOA maintains and oversees communal infrastructure, such as roads, security systems, […]
Who Owns Your Home—the Bank, or You?
With the vast majority of homes being financed through the country’s biggest banks, the popular online debate around who owns a mortgaged home in South Africa continues. While some would argue that the bank owns your home, the truth lies in two salient points: The authority that you elect to take on as soon as […]
Tenant ‘Red Flags’ and How to Avoid Them
The wrong tenant can have a lasting negative effect. The residential property industry continues its upward trajectory, and investors are getting in on the action. However, with the rise of investors choosing to take advantage of low prices and invest in ‘buy-to-let’ properties comes an excess supply of rental properties in areas with high supply […]
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 buyers […]
Complex Living: Be Aware of the Hidden Costs
When considering the purchase of a unit within a complex, it’s crucial to look beyond the surface-level expenses such as the advertised levies. Without thorough research, potential buyers may find themselves facing unexpected financial burdens. The structure of sectional title schemes In sectional title schemes, you own your unit but share ownership of the property’s […]