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Property
Property insight: Exchanging contracts
Q: I have exchanged contracts on the purchase of my property in the UK. What are the next steps?
A: Once contracts have been exchanged between the purchaser’s solicitors and the seller’s solicitors, the parties will be locked into the transaction. This means the purchaser is obliged to complete by paying the balance of the purchase price to the purchaser on the completion date, when the keys will be handed ...
ONLINE PROPERTY SHOPPING IN SA
South Africans living abroad are increasingly shopping online for property in Cape Town and figures show that residential Claremont, currently tops their list.Bev Bloch, Pam Golding Properties Southern suburbs Development Head says an increasing number of South Africans living abroad are enquiring about buying property in Cape Town.She says her group alone was fielding about 30 offshore enquiries per month. ...
MAYS BROWN Q&A April 09
QUESTION: We run our business from premises we own under a Lease. Our Landlord has requested us to carry out certain works to the property and has threatened to forfeit our Lease if we fail to carry out these works. We pay the rent, why is this not the Landlord’s responsibility? What happens if we do not carry out the works?ANSWER: It appears that Landlord has served you with a Schedule of Dilapidations. ...
RENTAL UNITS Squeezing more cash out of SARS
RENTAL UNITS Squeezing more cash out of SARSWhat expenses are deductible against property rental income in South Africa?Any expense incurred in the production of rental income is deductible if it is not of a capital nature and laid out for the purpose of the landlord’s trade. The following mexpenses are deductible:• Interest on bond • Levies (municipal fees) • Repairs (not improvements!) • Insur ...
FROM POLITICS TO THE PROPERTY MARKET
You must be living on the moon if you haven’t been keeping up to date on the political situation in SA: From the ‘Shikota Express’ to the ‘ANC’s jitters’ over the dissident walkout, the 2009 General Elections is shaping up to be a humdinger !!And with this change in the political landscape, the property market braces itself for either another interest rate that remains unchanged, or an interest rate reducti ...
FOR THE TIMES THEY ARE A CHANGING Maybe
Even when you read these words above, the whiny voice of Bob Dylan pops into your head willing you to sing along even if you don’t want to. Compare this to the current property situation, the questions remain: Are the times for property really changing? Or are things going to get a lot worse before they get better? For the past 2 years, interest rates have been increased 10 times in order to curb the infla ...
THE NIGHT IS DARKEST BEFORE THE DAWN
Oil price, Interest rates & food prices set to decrease but so will the value of your home according to some analysts. For all we know, these so called ‘analysts’ could be the weatherman taking a blind stab at predicting those clouds on the horizon to be a storm coming / going / never was. (Roulette was never so much fun) Therefore, sometimes they’re on the money…and sometimes they sidestep their falli ...
