Author: Lauren


Buyers looking for a new home and financing to pay for it are increasingly going online to learn about properties for sale and about the bond application process. But person-to-person engagement still plays a key role. A new “Special Topic” study from US mortgage lenders Fannie Mae found that lenders and real estate agents – professionals who offer a personal, handholding approach – were more influential than online sources during the search for financing. The study, in which 32% of respondents ranked mortgage lenders as the most influential and 30% said real estate agents held the most sway, seems...

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Direct from the EAAB… The Estate Agency Affairs Board is gratified at the positive response received from CPD participants on the first three-year CPD cycle (that is to say, estate agents, excluding intern estate agents, who had been issued with fidelity fund certificates for the 2015, 2016 and 2017 calendar years respectively) to ensure timeous compliance with any outstanding CPD obligations. This much-valued cooperation has, unfortunately, resulted in the IT system being overwhelmed. The EAAB tenders its sincere apologies to all participants who have experienced difficulty in accessing its IT system and advises that the capacity of the IT...

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Ultra-luxury living with Atlantic Seaboard views

A luxury private residential development launched in December on Cape Town’s Atlantic Seaboard, with apartments priced from R11.495m to R25m, excluding VAT. There is no transfer duty. The Berman Brothers Group’s flagship The Estate on St Johns is on Signal Hill. The development has commanding views of sea and city. The Estate’s two blocks are linked by a reception space complete with a dramatic staircase leading up to a luxurious lounge and entertainment area. Two top-floor penthouses and 17 two- and three-bedroom apartments are on sale – all offering state-of-the-art security and top-of-line furnishings and fittings. There are secure...

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Pending legislation and a new property sector rulebook mean agencies cannot ignore empowerment requirements. Estate agents who complain that the new Property Sector Code amounts to an onerous burden have only themselves to blame for the 60-page empowerment rulebook that they can no longer ignore. That is according to Mashilo Pitjeng, who has been closely involved with the amended code. He told the annual general meeting of the Real Estate Business Owners of South Africa (Rebosa) in October that the residential property sector’s failure to voluntarily grasp the transformation nettle has forced the hand of lawmakers. And in an...

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Important advice about drought-devastated gardens and pools

Andrew Murray from Miltons Matsemela Conveyancers on how to avoid disappointed buyers of drought-ridden properties in Cape Town.  As conveyancers, part of our role is often to mediate between sellers and buyers on contractual and practical issues which arise during the transfer process. One of the issues we regularly asked to deal with is a complaint from a disappointed buyer who bought a house with a pretty, well-established garden and a sparkling blue and full swimming pool, only to be confronted on transfer with the ugly reality of the drought gripping Cape Town. The garden is dead or dying...

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