Information on Purchasing Property in South Africa

ID #3583

When do I have to make a payment for the property I have chosen to buy in South Africa?

When do I have to make a payment for the property I have chosen to buy in South Africa?

 

Never make any payments unless you absolutely fully understand the sales agreement, and it has been signed and accepted by the seller.  If you are required to a deposit make sure the deposit is going to be held in an interest bearing “trust account” until registration of transfer. The balance of the purchase price is payable on transfer of the property into the purchasers name.  If the balance is cash the transferring attorney will request a bank guarantee for the balance of the purchase price before transfer of the property.

This information was supplied by kate@sahomebuyers.co.za 

 

more useful links:-

 

What is a bank guarantee when purchasing property in South Africa?

When purchasing property in SA Can I borrow money in SA to purchase property?

 

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Last update: 2008-12-03 10:48
Author: claus lauter
Revision: 1.0

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