Buying a home: you don’t have to go it alone

Buying a home: you don’t have to go it alone

Private Property South Africa
Cathy Nolan

Buying a property is a big decision – possibly one of the most momentous decisions you’ll ever make and one that has the potential to affect your financial well-being far into the future. So it makes sense to seek the expertise of a trained, accredited estate agent to guide you through the process.

Recent market developments have reshaped the real estate industry and resulted in agents being recognised as professional, value-adding components of any property transaction. Especially pertinent to buyers is that agents often have established relationships with bond originators, and a speedy answer to your application could mean the difference between the sale falling through and you becoming the owner of your dream home.

The Consumer Protection Act gives you another incentive to involve an agent in your decision as transactions by once-off private sellers are not protected in terms of this legislation if they are not within the ordinary nature of the sellers’ business. In order to take advantage of the protection that the act offers prospective property buyers, it is now necessary to use an estate agent as an intermediary.

A good estate agent will also, after reaching a thorough understanding of your wants, needs and budget, dedicate time and resources to finding a selection of possibilities for you to view. In addition, she can talk you through the process of making an offer and advise on the amount to offer. With her knowledge of the market, she can determine whether an asking price is over-the-top and whether, for example, you could offer less than the asking price in order to make necessary renovations and carry out any maintenance that needs doing.

Looking for a new tenant?

Advertise your property to rent FOR FREE quickly and easily on our website.

Find out more


Found this content useful?

Get the best of Private Property's latest news and advice delivered straight to your inbox each week

Related Articles

Clauses to protect seller and buyer
Many people do not realize that the protection provided to home buyers by the Consumer Protection Act (CPA) specifically excludes sellers who do not sell homes “in the normal course of business”. Because most “second hand” ...
Consumer Protection Act doesn't safeguard the interests of buyers
Purchasers of second hand houses have been surprised to learn that the Consumer Protection Act does not offer them any protection against estate agents and the sellers of these houses - a fact that must cause investors to pause ...
How does the Consumer Protection Act affect estate agents?
A corporate commercial attorney, Jose Delgado, explains what impact the CPA has on buying and selling for estate agents.