If you are not in a hurry, ideally you want to wait until the market is in a ‘sellers’ phase. This is when you are more likely to realise good value and receive competing offers.
A buyers market is when there are more homes for sale than people looking to buy.
A sellers market is when there are more people looking for homes than there are homes for sale.
2. Valuation or market value
There are generally three ways to determine the value of your property:
Estate agent: Contact several estate agents who operate in your area to give you a valuation. They usually perform a comparative market analysis (CMA), which evaluates your property against similar properties recently sold. This also gives you the chance to meet potential agents if you plan to appoint one.
Professional valuer: A registered property valuer carries out a thorough inspection and provides a detailed valuation report based on the market and your property’s condition.
Self-check: You can do an online search comparing your property to similar homes in your area. While this gives a rough idea, it’s not recommended for accurate pricing.
3. Appreciation and depreciation
Appreciation is the increase in your property’s value over time.
Depreciation is the decrease in your property’s value over time, often due to wear, damage, or market conditions.
4. Return on investment (ROI)
This refers to the profit you make when you sell. Calculate this by comparing your total purchase and holding costs (including any rental income earned) to the final sale price.
5. Equity
This is the difference between your property’s current market value and the outstanding amount on your home loan. This portion is your direct ownership in the property.
6. Asking price
The price you advertise your property for. It is the starting point for negotiations with potential buyers.
You choose to sell the property without a real estate agent. This can save you commission fees (typically 5–7% plus VAT), but you will need to handle marketing, viewings, and legal processes.
8. Auction
Your property is sold through a professional auction house. It is marketed and then sold to the highest bidder in a competitive environment.
9. Time on the market
This is the number of days from when you first list your property to when it is sold. If it remains unsold after around 90 days, it may indicate that your asking price is too high and should be reviewed.
10. Mandates
This is a legal agreement between you and a real estate agent, authorising them to market and sell your property within a set period.
A sole mandate allows only one agent to market the property.
A dual or open mandate allows multiple agents from different agencies to market the property, but only the one who secures the sale earns commission.
11. Listing
This is your property's online or public advertisement for sale. It includes a description of the property, key features, price, and photos.
12. Viewings
Appointments arranged for potential buyers to inspect your property, usually coordinated by your agent.
A legally binding agreement that a buyer submits to you when they wish to purchase the property. It outlines:
The purchase price offered
Any conditions (e.g. subject to bond approval, sale of their current home)
Requested repairs or inclusions
Deposit amount and time frames
Once both parties sign, the property enters the transfer phase. Read more on legal documents here.
14. Voetstoots
A legal term meaning “as is.” It indicates the property is sold in its current condition. The seller is not liable for defects discovered later—unless they were known and not disclosed.
15. Conditions of (and subject to) sale in an OTP
These are the terms that must be met for the sale to go through. Examples include:
Subject to home loan approval
Sale of the buyer’s current property
Inspection reports (plumbing, electrical, etc.)
Occupational rent arrangements
Agreed deadlines for each stage of the process
16. Negotiating and competing offers
You may receive multiple OTPs from different buyers. You can:
Accept one
Reject all
Counter-offer with revised terms or price
Agents must present all offers, and you have the right to consider the most favourable one.
17. Clearance/compliance certificates
These legal documents certify that the property’s systems meet legal standards. Required certificates include:
Electric fence compliance (if applicable)
Beetle clearance (in coastal regions)
Plumbing and water certificates (required in some areas)
All must be issued by registered professionals.
18. Conveyancer
A conveyancer is a specialist attorney who handles the legal transfer of property ownership. The seller usually appoints this professional. Their duties include:
Preparing and lodging documents with the Deeds Office
Coordinating with the buyer’s bank and bond attorneys
Settling municipal accounts and cancelling the seller’s home loan
Facilitating the final registration of ownership
19. Deeds Office and Title Deed
The Deeds Office maintains official records of property ownership in South Africa. When you sell:
Your Title Deed is cancelled and reissued in the buyer’s name
If you have a bond, the bank holds the Title Deed until it is paid off
The Deeds Office finalises the legal registration of the new owner
20. Legal costs
You are responsible for several legal and municipal fees when selling, including:
Home loan cancellation fees (payable to your bank)
Rates and taxes (or levies, if in a sectional title scheme)
Outstanding municipal accounts
Compliance certificate costs
Conveyancer’s fees (for the transfer)
Capital Gains Tax (only if applicable, and based on profit thresholds)
Estate agent commission (if applicable)
Deeds Office administration charges
21. Occupational rent
This is rent paid by the buyer if they take occupation before the property is transferred into their name. It is usually calculated as a monthly percentage of the purchase price.
You may also negotiate with the buyer to remain in the home after registration—this would also involve paying occupational rent.
22. Transfer and handover
Once the property has been officially registered in the buyer’s name, the conveyancer will inform you. At this point:
You must vacate the property by the agreed date
Handover includes all keys, remotes, security codes, and manuals
Unless agreed otherwise, all responsibilities (like services) now shift to the new owner
If you stay beyond this date, occupational rent terms apply
