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Things to know before selling your home
27 February 2018  | Gerda Janse van Rensburg
1. Choose the right agent

Appoint a reputable estate agent to assist with the selling of your home. Undertake proper research and determine which agents are most active in the area or complex that your property is located in. It is always better to appoint an estate agent who has been around for some time and has proven success in the property industry.  Most importantly you must ensure that the agent /  agency is a registered entity at the Estate agencies affairs board.  This is a simple search on the internet and could save you lots of frustatrations later in the process, as you will be sure that you are dealing with an agent who is reputable.

2. Get a CMA

Ask the agent to perform a proper Competitive Market Analysis (CMA). In today’s market it is crucial to look at other competing properties and to ensure that your property is priced in accordance.  Listen to the advice given to your agent.  They know the market!

3. Set the correct price

It is critical to price your home correctly. If you overprice your home it either won’t sell, or it will take much longer to sell than it should. Buyers are streetwise and know immediately when a property is overpriced.

4. Disclose defects

Make sure that you disclose all the latent and patent defects in your home to the agent and potential buyers.  If you should hide any defects, you may be caught up in litigation for years to come.  

5. Update your compliance certificates

Make sure that your compliance certificates are up to date - buyers require this to know that everything is in order with your home.

This will include your Electricity certificate, electrical fence certificate and gas certificate, if you have a gas installation on the property.

6. Update your property plans

 It is also important to be in possession of the approved plans of your property. If you had structural changes done to the property or extended your property, you will have to consult with a architect to have the correct plans drafted, lodged and registered at your local municipality.

7. Give notice to your bank

Remember that your bondholder has the right to charge you penalty interest if you do not give ample notice of your intention to sell your property.  You need to give your bank written notice of your intention to cancel your bond, and then to re-give this notice to the bank every 90 days

8. Consider all offers

Take all offers seriously. By the time buyers make an offer they have probably done a lot of homework and every offer made is worth considering.

9. Consult with your attorney

Remember that you, as the seller has the right to choose the conveyancer (attorney ) to handle your sale.  Make sure that your attorney is a qualified conveyancer.  A Conveyancer is an attorney who passed an additional exam and is admitted to the High Court as a conveyancer and as such allowed to handle your sale.    If you unsure of the content of the contract, you should discuss it with your conveyancer, as he/she is qualified to give you the correct information and advice.
Compiled from the website of Property24
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