The new Property Practitioners Act (PPA) which came into effect on 1 February, is only applicable to property practitioners and does not apply to private sellers unless that private seller happens to be a developer selling stock from its own development
Despite common belief, the finish line when buying and/or selling property is not reached when entering into an agreement of sale or even when signing the transfer documents at the conveyancing attorney’s offices.
Seeing that the new property laws have come into effect under the Property Practitioners Act (PPA) at the beginning of this month, both homeowners and the property industry at large now have new options available to them when choosing how to manage their deposit.
The new Property Practitioner’s Act 2019 is an important piece of legislation in the property sector. The new act came into effect on 1 February and several changes to the industry impacting on both agents and clients is in the offing.
New legislation that came into effect this week on 1 February will effectively repeal the old Estate Agency Affairs Act 1976 (EAA Act). The new Act, the Property Practitioners Act 2019 (PPA), aims to protect the interests of consumers in the property industry.
With the coming into effect of the Property Practitioners Act, 2019 as of 01 February this year, the regulatory landscape will change for estate agents.
No residential rental agent needs to be reminded of the unbreakable golden rule – trust funds must be kept separate from business funds, to ensure landlord and tenant funds are only ever used for the purpose they were meant for.
Living in an estate or housing complex always comes with a host of responsibilities towards neighbours and other tenants.
Buying or selling property is one of the most exciting experiences for most people. However, one should take care not to sign an offer to purchase without fully understanding the implications of all the provisions contained in the agreement.
To many home buyers the offer to purchase is the ultimate step in obtaining that dream home or property.