Blog

DATE OF DISPOSAL FOR SARS: SALE OR TRANSFER

With the financial year end for many businesses fast approaching, and the tax year concluding on this leap-year 29 February 2024, accountants and tax consultants are spinning! We have been approached by clients seeking clarity on what the South African Revenue Services (SARS) deem to be the date of disposal of a property for tax […]

An overview on compliance certificates

Once a sale agreement has been concluded, there is an obligation on the seller to provide various compliance certificates to the purchaser which ensures that specific installations on the property meet the required standards as prescribed by law. There are several misconceptions as to exactly what these certificates cover and when they are required so […]

CAN AN OFFER TO PURCHASE BE REVOKED BEFORE THE EXPIRY DATE?

So, you view a property on a beautiful summers day and fall in love with it. You immediately decide to make an offer without further questions and without checking your finances thoroughly. You complete the offer to purchase with the estate agent and sign on the dotted line, leaving the offer open for acceptance by […]

TRANSFER DUTY vs TRANSFER COSTS WHAT IS THE DIFFERENCE?

When you purchase a property, you are advised that the costs of buying the property are for your account. However, at times you have seen property listings boasting that the property purchase is “duty free” or even “costs included”. It is no wonder that Purchasers are often confused when it comes to what they need […]

DONATION OF IMMOVABLE PROPERTY

I was recently approached by a client looking to donate an immovable property to his fiancé. The property was vacant land, but client had approved building plans and wanted to begin with construction of the dwelling, which would increase the value of the property significantly. This prompted me to look into the implications of such […]

THE MILLION-DOLLAR QUESTION: HOW LONG WILL MY PROPERTY TRANSFER TAKE…?

Wouldn’t it be amazing if we had a definite answer to this question and all parties involved could have peace of mind and certainty that registration of transfer will take place on a particular date? The reality, however, is that there are just too many “moving parts” in the South African property transfer process for […]

HOME OWNERS ASSOCIATIONS AND COMMUNITY LIVING

With modern lifestyle in a post-Covid society top of mind with most property purchasers, the popularity of Security Estates and Community Living remain on the increase. Many such Estates and Communities are governed by a Homeowners’ Association (HOA) and this article discusses the role that HOA’s play in the world of property ownership. HOA’s are […]

HOW DO I CANCEL MY BOND WITH THE BANK?

“After nearly 20 years I’m finally at the point where I’ve just about repaid my home loan in full. This got me thinking though, what happens or what I should do when I pay the final instalment?” We’re often approached by clients for advice on how to go about cancelling a paid-up bond, or even […]