PROPERTY SELLERS F.A.Q.
SELLERS FAQ's
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 SELLERS
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Can you give me the Market Value of my Home?
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How much Commission do you charge?
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What are the Advantages of giving a Sole Mandate?
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Are there any Additional Costs and Fees, that I as seller will have to pay?
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How will you Market my Property?
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For how long do I have to give you a "Sole Mandate”?
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How Frequently do you want to have a Show House?
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What can I do to make my house More Marketable?
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How Long will it take to Sell my house?
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When can I expect the money from the Sale?
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At what stage can I start to look for my next house?
How much Commission do you charge?
- We charge a four percent commission fee of the selling price. Meaning the more we can get for your home the more commission we will earn. “Win~win situation”
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What are the Advantages of giving a Sole mandate?
- A Sole Mandate is the sure way of achieving the best possible market price;
- The estate agent will be more inclined to work with and for the seller and in the process establish a healthy working relationship minimizing the stress in selling your house.
- Your estate agent will work diligently at getting the best possible price.
- The agent will have more time to negotiate with the buyer in increasing his offer.
- The agent will be less inclined to pressurize you to accept a lower offer being scared that another agent might come with a better offer.
- It will be less stressful than having lots of estate agents with potential buyers in tow invading your privacy.
- It eliminates the danger of a dispute over commission with another estate agent.
- The house will be marketed at one price. If more than one agency markets your house each agent will market the house at a different price to compensate for the difference in commission.
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Are there any Additional Costs and Fees, that I as seller will have to pay?
- In order for the conveyance to obtain a clearance certificate from the municipality you will be asked to pay an amount as requested by the municipality to the conveyance who in turn will pay the municipality.
- If the property forms part of a Sectional Title or Home Owners Association, then the same process has to be followed.
- The cost of a beetle and electrical inspection is normally also for the sellers account.
- If any repair work has to be done on the electrical installation then that cost will also be for the sellers account.
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How will you Market my Property?
- Your property will be advertized in local property magazines and on our website as well as on the internet of other major property outlets. We will also put your property on show at times that suit you.
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For how long do I have to give you a "Sole Mandate”
- That is entirely up to you as the seller. Normally a three month period is given.
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How Frequently do you want to have a Show House?
- This is an arrangement between you (as the seller) and your agent. You do not have to have any show house days. This route may just delay the selling date of your property as the major of sales occur due to open show house days.
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How Long will it take to Sell my house?
- This period can vary from within 24hr up to 90 days and more.
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When can I expect the money from the Sale?
- Your conveyance will pay you your balance of the sale on the same day (as day of transfer) into your bank. Normally the transfer takes 6 to 8 weeks and if the buyer has to obtain a bank loan then another 1 to 3 weeks can be added, pending on how complicated the buyers financial circumstances are.
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At what stage can I start to look for my next house?
- You can immediately start to look at other properties. Once you have found your new dream home and you would like to enter into a Purchase Agreement just make sure that the Purchase Agreement makes provision for an “on conditional clause” that will make the sale binding only once your property has been sold and all the terms and conditions of the sale has been fulfilled. The seller’s estate agent should be able to guide and assist you with this clause of the purchase agreement.
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