FAQ FOR HOME BUYERS
FAQ for Home Buyers
Whats New:
This is La Grande's New Web Site.
February 2011
Please feel free to give your comments on La Grande's new website, by clicking on Contact Us in the Main Menu.
Current News
Interest rate Cut
November 2010
On 18 November 2010 The Reserve Bank has anounced that the repo rate is reduced by 50 basis points. This means that the banks will reduce their prime lending rate down to 9%.
Recent Events
No Transfer Duty or Capital Gain Tax?
February 2011
For those of you who have their primary residence registered in a CC., Trust or Company, now have the opportunity to transfer the property into your own name, with out paying transfer duty or capital gain tax. Before you take any action, consult with your finacial advisor to establish whether this will be to your advantage. Then consult with your transferring attorney to establish whether you will qualify not to pay transfer duty and capital gain tax. Then establish with your bank wheteher you will qualify for the outstanding bond amount. You have to take action before the end of 2011.
F.A.Q. BY BUYERS
Type in your Search Term
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Why does the seller want to sell
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Has the seller received an offer to purchase
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For how long has the house been on the market?
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Is the asking price negotiable?
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Has the seller already bought a house somewhere else?
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How far are the nearest schools, hospitals, shopping centres, etc?
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Are there any structural defects in the property?
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Does the roof leak?
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How much cash do I have to have to purchase the home ?
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Will I qualify for a bond?
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When can I move into the house?
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What is a C.M.A. ?
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What is "Buyers Remorse" C.M.A. ?
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The Sellers rejected our offer. What can we do to make the Sellers more reasonable?
Why does the Seller want to sell?
Young people normally want to upgrade to a larger/more expensive home.
Older people normally want to downscale to a smaller/more manageble home.
Recently some people sell due to financial problems.
Then there are situations like divorce or the passing away of the spouse.
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Has the seller received an offer to purchase?
Irrespective whether the answer is yes or no, please note that sellers are human beings and each sale differs from one another. Do not let the answer to the question influance your decision on the selling price.
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For how long has the house been on the market?
Some houses can be on the market from 12 hours up to nine months before a purchaser recognize the potensial of the property.
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Is the asking price negotiable?
The asking price is always negotiable. The quesion is by how much?. This you will only know once you have submitted your offer to purchase.
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Has the seller already bought a house somewhere else?
This question is usely asked to establish whether the seller is under pressure to sell and will except a lower price. Here again it is best to submit an offer to purchase and see how the seller reacts.
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How far are the nearest schools, hospitals, shopping centres, etc
What is far for one person is not far for another. So before you waste your time on viewing properties. Take time and drive through areas that you like and find out for yourself before you are confronted with the emotional stress of finding a home.
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Are there any structural defects in the property?
It is the sellers obligation to divulge any structural defects in the property.
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How much cash do I have to have to buy this house?
Now a day the bank wants you to pay the trasfer costs from your own pocket. Pending on the specific bank's policy you may find that the bank will require you to pay a deposit. Click here to find out more about the costs involved.
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Will I qualify for a bond?
Click here to see how big a bond you will be able to obtain from the bank.
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When can I move into the house?
Normally the process takes from 6 to 8 weeks.
Click here to view the legal process that is involved to transfer the house into your name.
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What is a C.M.A.?
C.M.A. is the abbreviation for "Comparitive Market Analysis. This analysis will provide the client with details of compareble properties which have recently been sold, are currently on the market and compete with the seller's property, and have been on the market but which have not sell, either because they were overpriced or because the terms of the sale were too onerous.
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What is "Buyers Remorse"?
With some frequency it happens that buyers often have a sense of remorse after contracting to buy a home. Why? A home is a very large purchase. Not just in terms of Rands, but also in the sense of status, ego, and commitment. And because it is such a transforming event, it naturally and reasonably causes some concern. But, not to worry. Buyer's remorse typically passes in quick order.
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The Sellers rejected our offer, what can we do to make the Sellers more reasonable"?
Who says the sellers are not reasonable? They have established a market price for their home. If they can get that price within a reasonable time frame, then they have logically priced their home. If the asking price cannot be obtained, either they will lower the price or the property will be withdrawn from the market. Perhaps it will help to raise your offer and or better your terms.
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