Buying or Selling Your Home

Selling your home

Selling your home can be as stressful as buying a new one.

Your selling options

There are two options: selling privately or with the assistance of a competent estate agent. For more information regarding estate agents and their rights and obligations, please visit the Estate Agency Affairs Board website on www.eaab.org.za

The importance of asking the right price

This is certainly the most important aspect of selling your home. Over-price it and the chances are you will delay the sale, under-price it and you will regret selling too cheaply. Most buyer interest occurs when your property initially goes on the market.

Current economic and market conditions, the location and size of the property, the accommodation and the features of the property offers normally determine the actual selling price. You will get a good idea of the correct price by looking at what similar properties are fetching in your area. Do not be misled by the asking prices in the area. Remember that the seller usually sets the price; the buyer usually sets the value!

Make sure that your price includes all the extras, such as fixtures and fittings.

Electrical compliance certificates

By law, an electrical compliance certificate has to be in the possession of every new purchaser of a property to confirm that the property's electrical system complies with safety regulations. The seller is obligated to supply it to the buyer at the seller's expense prior to registration of transfer. It is not the agent's responsibility to obtain it. In certain areas (mainly coastal regions), the seller also has to supply the buyer with an Entomologist's Certificate confirming that the property is free of woodborer or termite infestation.

Remember

Complete all your documents in full. Do not sign any incomplete documents and question anything that you do not understand fully - you have the right to do that.

buying a home

How to start looking for your home

The first step would be to determine what you need and in which area you would like to purchase a home.

Browse through weekly property advertising supplements and other methods of property advertising, such as the Internet, in order to get a good idea of the homes available and the current asking prices in various areas. Drive around areas of your choice to look for properties with "For Sale" signs. Consider the proximity to your place of work, schools, shopping centres, medical facilities, police station, post office, your bank, public transport and other amenities that are important to you.

Speak to friends and relatives about the area or make contact with people living in the chosen area. Find out about issues such as transport, schools and crime or security.

Visit local estate agents and ask about the profile of the suburb, average cost of houses in the area and the future potential of the suburb from an investment point of view.

House hunting can be an exhausting experience. Most of your efforts in homeownership go into this phase, but remember, a well-chosen home is your path to an enjoyable and rewarding homeownership experience.

Remember

Choosing a home is your and your family’s choice alone. Don't yield to pressure from anyone to purchase a home quickly. You are going to live in your home for a long time, so don’t rush your decision.