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BUYING PROPERTY IN SOUTH AFRICA
Welcome to the classified where you can create a profile and save-and-manage all your favourites. Register now and receive email alerts of Hot Properties in your area. In order to participate as a potential property buyer and gain contact details to a seller you need to register as a member. As a member, you are able to look for property in South Africa using a wide variety of different options including type of property, area and price range. You can also specify certain parameters and we will email you updates on any new listing that match your criteria. After you have registered, YOUR PROFILE will save-and-manage all your personal details, current property searches and lists your favourite properties.
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Why browse for properties on Private Sales?
Yes, there are indeed web pages that offer free listings, but you get what you pay for. Private Sales ads are paid for and that simply means serious sellers. Estate agents trade free listing in turn for sole mandate and 7.5% commission. In other words, the sellers can bargain that commission (usually 7.5% ) what the estate the estate agents would generally ad to a selling price.
How much should I pay for a property?
You should contact your bank, bond originator or apply online at No Agent Mortgage Originators and compare the best interest rate and the amount you qualify for. The price of a property is ultimately determined by the buyer (that is you) and not by the seller’s neighbour, cousin or greengrocer. After a property interested you, you should casually negotiate the price and occupation date (without committing to any paperwork - that is your lawyer’s job).
What is the procedure in selling a house?
You must sign an offer to purchase after negotiating the price and occupation date. Be wary and let your lawyer handle that. Your lawyer should tender this offer to the seller. Now, usually the sales agreement is dratted under the condition
that the buyer (that is you) sells his property or that your bond application has been approved – this might take some time. First time buyers may have to pay a hefty deposit determined by the economy and interest rates. The lawyer (also known as the conveyers) will administer and transfer all the settlement monies.
Buy Bank Repossessed Property (PIP’s) and make money
We all know the difficulties to obtain a repo. We offer members the opportunity to be part of this inner circle without dishing out a lump sum. Yes, you can now purchase a repo with a bond. You simply need to qualify for a home loan - and there is no transfer duty or outstanding rates and taxes in purchasing a repo.
First prize for the bank is to (1) finance the outstanding bond of a repossessed property (maintain their bonds) rather than (2) cash purchases where the buyer refinance the property at another bank or before the property is (3)auctioned. These properties are presented in video format at a Pembi conference centre with all parties and support present. You may sign the offer to purchase there and then or frequent the properties at own time afterwards.
How do I make money from this? For example, if you purchased the property for R1 million, and the property is worth R1.5 million, you should be able to refinance the property for R1.3 million (R300 000 in your pocket) and sell the property for R1.4 million in good time (another R100 000 in your pocket).
How do these repo properties look? Well, that is why you can view them on DVD before you waste your time driving around. Then, these properties are the top-end of repos; most of them are ready to move in, some are even brand new.
Finally, all you need to do is to register as a buyer, the Member Registration page will open automatically and go to the bottom of the page
Good luck and all the best
T&C apply. Private Sale No Agent is a property classifieds web page and not an agency. Prices may change without prior notice. Paid listings are valid for six months. You will not be able to edit your listing after it has been made public. Listings without at least one mandatory photograph may be rejected. The “N12345” property reference number must appear as the payment reference. Video productions and prices are subject to your demographics. Estate Agents are not allowed to contact private sellers for obtaining listings or mandates. Developers may and should advertise with Private Sale (no transfer cost). In good faith and without prejudice Private Sale No Agent reserves the right to the contact details.
