These days, the seller and his agent are required to let the buyer know of all defects or potential defects regarding the property for sale even if it is being sold voetstoots. If the seller does not disclose the defects he could be held liable for damages. In fact, the law makes it mandatory for…

The voetstoots clause is included in the sale agreement when the purchaser agrees to buy the property as it stands with a full understanding of its defects. In this case, the seller has a duty to disclose all hidden (latent) defects to the buyer. At the same time, it’s the purchaser’s responsibility to carefully inspect…

Under the Consumer Protection Act (CPA) 68 of 2008, consumers have the right to fair value, good quality and safety. So how does this apply to property transactions? In simple terms, the CPA doesn’t have a strong role to play when it comes to the sale and purchase of immovable property, especially residential property. This…

Our common law states that the seller gets to choose who the transferring attorney/conveyancer will be. However, the buyer must pay the transfer and attorney costs. This may seem unfair but if you think about it, the seller is more at risk if the deal doesn’t go smoothly because he is the party receiving the…

This all depends on the marital contract you both signed when you got married. Let’s take a look at the various marriage contracts and how it affects the sale of the property. In Community of Property means that no matter whether the house was bought before marriage or whose name it’s in it, once the…

Both the seller and the buyer have certain responsibilities and obligations that they need to address during a property transaction before the property can change ownership. And both parties should prepare financially before they either selling or buying a property because there are extra costs, legally and otherwise, on both sides. The buyer is responsible…

By law, the seller must provide the buyer with an electrical compliance certificate that covers the permanent electrical installation – this means everything from where the Eskom cables join the property up to the point where the cables end at the appliances (plug point, light fitting and the permanent connection at a stove, pool pump,…

Do not sign the sale agreement until you have had a home inspector take a look at the problem as well as inspect the rest of the property. You will be required to pay the inspector but it is a worthwhile cost as it may save you hundreds of thousands of Rands later on. If…

2016 Bert Smith Incorporated

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