5 Important pointers when buying and selling property

So you are ready to get into the property market? Here are five important pointers when buying and selling property.

SELLING

1. Appoint a competent conveyancer with a proven track record;
2. If you sell via an agent, appoint a competent agent with a proven track record;
3. Locate your original title deed and keep it safe – your conveyancer will need to lodge it in the Deeds Office (if you have a bond over the property, the title deed will be with the bank);
4. Have your sale agreement checked by your conveyancer before you sign it;
5. Disclose any latent defects of which you are aware.

BUYING

1. Check everything that you possibly can on the property – open the taps, flush the toilet, switch on lights, lock and unlock doors, etc;
2. Make sure that any agreement regarding the property is included in the offer to purchase, e.g. if the pot plants are to remain, if a leak is to be fixed, if a room is to be painted, etc;
3. Have your attorney check the offer to purchase before you sign it, and make sure you understand everything in the agreement;
4. Ask whether there are any latent defects that the seller is aware of, and record it in the agreement;
5. Request a copy of the approved building plans and check them against the structures on the property.

For more advice and pointers when you are buying or selling property, please contact Tracey Watson-Gill from Goldberg & de Villiers Inc. on 041-5019807/08/45 or on 084 8123 234.