CSOS Community Schemes Ombud Service

If you belong to a Sectional Title Scheme then you are paying a CSOS Levy on a monthly basis and your complex / scheme has to be registered with CSOS ….. herewith some details.

“The CSOS was established in terms of the Community Schemes Ombud Service Act to regulate the conduct of parties within community schemes and to ensure their good governance. The Community Schemes Ombud Service Act, 2011 (Act 9 of 2011) and the Sectional Titles Schemes Management Act, 2011 (Act 8 of 2011) and Regulation thereto were proclaimed on 07 October 2016.”

For more information visit the CSOS website:

http://www.csos.org.za/

Need to sell? We need your property ….. give us a call:

Marnus Steyn: 072 264 7806
Juanita Steyn: 083 604 1231

PROPERTY

Costs when Buying Property

Every now and again we get buyers viewing properties or visiting our show houses with no idea that there are transfer and registration costs payable when buying property. Some of them also think that this can be financed with the bond amount.

So just to shed some light on this subject, especially for first-time buyers ….

When buying property, the purchasers (in most cases) are responsible for paying  the Transfer Costs as well as the Bond Registration Costs to the Transferring Attorney upon request. This is done after all suspensive conditions in the Sales Agreement has been fulfilled and needs to be paid in order for the registration process to proceed. In the case where someone buys a property in a new development these costs or a portion of these costs may already be included in the sale. Most property websites and portals as well as banking sites have built-in cost calculators where these costs can be calculated. Please have a look at our website at http://www.steynrealty.co.za for more detail.

Transfer Costs - Web.jpg

Transfer Costs: Is paid on the full sales / purchase price.
Bond Registration Costs: Is paid on the bond amount only.

Both these costs are calculated by the Attorney firms involved according the a schedule and sliding scale. Please look at the following example:

Full Purchase Price: R 1 500 000
Deposit Amount: R  100 000
Bond Amount: R 1 400 000

In the scenario above, the following estimated costs will apply.

Property Transfer Costs (R 50 298.00)
Attorney Fees: R 23 598.00
Transfer Duty: R 25 500.00
Post, petties, FICA and other: R 1200.00

Bond Registration Costs (R 29 985.00)
Attorney Fees: R 22 800.00
Bank Initiation Fee: R 5 985.00
Post, petties, FICA and other: R 1200.00

TOTAL COSTS: R 80 283.00

The Purchaser in the above scenario will then have to have R 180 283.00 cash available to cover the deposit and costs. Costs cannot be added to the bond amount / purchase price as this is not allowed by the Banks or Attorney Firms.

It is very important that prospective buyers take the time to calculate all the various costs and payments that they will be liable for before shopping for a new property.

For any queries on the above, please feel free to contact us or send us an email to marnus@steynrealty.co.za / juanita@steynrealty.co.za

Hope you have a great day …… off to go sell some houses.

 

 

Welcome to 2017

Welcome to 2017

…. not sure about you but 2016 was not a particularly good year for the Real Estate industry in SA. We saw the Prime Lending Rate go from 9.75% to 10.5% in the first half of the year. This, together with a couple of very negative and concerning economical and political movements put a bit of a damper on the market with most agents I spoke to reporting a drop in sales for the year.

Enough of 2016 and enough negativity over that market, the macroeconomical situation of the country and the dreaded word ….. “Politics” … blah blah blah … we have work to do and properties to market and sell.

2017 is here and we are going to “hook it” …. we are going to “hook it real good”. Stock in the Real Estate market is and always will be king! There are buyers for well priced properties. Although there are many factors that play a role like area (location), condition and specifications ….. “PRICE” will be the determining factor. If you price right, you will sell.

STEYN REALTY is serious about delivering an exceptional service to out clients being Property SELLERS, BUYERS, LANDLORDS & TENANTS. We have the experience, knowledge, marketing expertise, professional attitude and the drive to assist our clients with any Real Estate related query or assistance they might have. Where we can’t assist we will try to point you in the right direction. We have a list of professional and capable bond originators, attorneys, electricians, plumbers etc who we refer to our clients on a regular basis.

Buying or Selling Property is serious business and you need to team up with an Estate Agency who is just as serious about what they do. STEYN REALTY would love to assist you, no matter how big or small your property …. we do it all. We can also manage your rental portfolio, find, screen and place tenants on an ongoing basis.

If you are looking to Buy, Sell or Let-Out a property anywhere in the Roodepoort / Krugersdorp area or you know of someone who is struggling to sell please give us a call.

Marnus Steyn / 072 264 7806 / marnus@steynrealty.co.za / http://www.steynrealty.co.za
Juanita Steyn / 083 604 1231 / juanita@steynrealty.co.za / http://www.steynrealty.co.za

 

 

Fortune favours the brave ….

Here’s a mind-twister for a Monday ….. I believe that fortune favours the brave so …..

If properties in South Africa sell within 12 weeks of being listed, on average, why hang on to stock where sellers are not prepared to list with me at my valuation amount or even close to it. Why list your property (knowingly) at inflated values in the first place and then hope that buyers will come and make offers.

In the current market segment where we are selling (mostly R 500 000 to R 2 000 000) while taking into account the current market conditions and economic possition of the country, only the well priced properties are selling and shouldn’t take more than 6 to 12 weeks to get offers. I think it’s time that agents change their offering and sellers need to be aware of agents over-inflating property prices in order to secure mandates. Sellers are contracted to long-term mandates of 6 months (and more) which in my view borders on unethical conduct on behalf the agent and also point toward a very uninformed and stubborn (“not serious”) seller. 

As a SELLER (keep the following in mind):

1. Price your property right to sell

2. Choose your agent carefully

3. Discuss a well thought out marekting plan

4. Sign a mandate (mutual commitment)

5. Demand feedback and progress reporting.

As a result of the above, our offering will in future change to a maximum sole mandate term of 10 weeks at our recomended “Listing” price (Only) and will include all the bells and whistles of online and social media marketing / advertising, show days etc. If we can’t sell it within that time with the various marketing strategies we have in place, then we believe that no one will be able to.


To get your property LISTED and SOLD, call:

Marnus Steyn 072 264 7806 / marnus@steynrealty.co.za

Juanita Steyn 083 604 1231 / juanita@steynrealty.co.za 

#Roodepoort #Westrand #Wilgeheuwel #Radiokop #Strubensvalley #LittleFalls #AllensNek #HoneydewManor #Ruimsig etc etc 

CALL US NOW

Seller Information

CALL US NOW

SELL THROUGH STEYN REALTY

I recently posted this article on our website in an attempt to notify sellers and future property sellers as to the potential pitfalls / costs when selling.

Just in the case of purchasers who need to do their homework before buying, making sure they are credit worthy and what they can afford, Sellers also need to do their homework ….

While touching on a couple of other issues, the article aims to outline most of the potential costs that Sellers may be responsible for during the sales and registration (transfer) processes. It covers the following:

  1. Avoiding Penalty Interest
  2. Bond Cancellation Costs
  3. Compliance Certificates
  4. General Condition of the Property and
  5. Nomination of the Transferring Attorney Firm.

You can read the article by clicking on the link below.

CLICK HERE

www.steynrealty.co.za (2).jpg

For any sales or rental related queries or to get your property listed in the Roodepoort, Ruimsig, Wilgeheuwel, Little Falls, Constantia Kloof and surrounds …. please contact!

Marnus Steyn – 0722647806 / marnus@steynrealty.co.za

Juanita Steyn – 0836041231 / juanita@steynrealty.co.za

http://www.steynrealty.co.za

 

Where is TIME going …?

August 2016 …. 5 months into our own business and more than 11 years in the Real Estate Industry and here we are …. still going “strong”.

PROPERTY

During the last 5 months we have done a fair amount of transactions ranging from R 2 000 000 to R 500 000 but we need more, much more. We pride ourselves on being pro-active when it comes to marketing and advertising of our stock, technology and the quality of our service, feedback, knowledge and professionalism.

Buying or Selling property is a massive decision and we take it very seriously. We have the necessary knowledge and experience in selling residential homes / clusters as well as sectional title townhouses and apartments to make sure that our clients are in good hands and get the right advice. We also offer rental procurement and management services where we offer a complete service through the TPN Rentbook and TPN Credit Bureau systems.

We get enquiries for sales and rental stock on a daily basis and we need more stock to show our buyers and tenants.

If you are at all looking to SELL or LET OUT your property, please give us a call or an email so we can assist. We cover quite a large area from Pinehaven in the West all the way along Hendrik Potgieter up to the Wilgeheuwel Hospital area in Radiokop. We are also looking for properties in Helderkruin, Kloofendal, Constantia Kloof and Weltevreden Park.

We can be contacted as follows:

Marnus: 072 264 7806 / marnus@steynrealty.co.za
Juanita: 083 604 1231 / juanita@steynrealty.co.za
Our website is: http://www.steynrealty.co.za
We are also quite busy on social media where you are welcome to follow our tips / hints / latest stock and industry related news updates and info ….

For our Facebook page ……. Click here
For our Twitter feed ……. Click Here
You can even follow us on Instagram ….. @steynrealty

We would also love to hear your views and thoughts on the SA Real Estate industry so please interact and give us you opinion.

\WE CAN HELP

 

Success Story – Real Estate

I had this listing for a while, listed on all the major websites and also with other agencies as part of our Multi-Listing arrangement. The property is situated in a very good area so the viewings were quite regular. Every time we had a Sunday Show Day it was quite busy with some real interest, but no offers.

The owner of the property had already bought another property and it was now up to me to get this one sold so that his transaction could also continue ….. no pressure, I was given until the end of September ’15 …..

2. HELDERKRUIN FAM HOME

At the end of August I went to the Owner / Seller with the following pitch. “Let’s withdraw all the listings and re-list on a sole mandate basis (as the commission was not favorable for sharing), show every weekend, renew all marketing and see what happens”. Part of the deal was that we also reduced the price and re-looked at the commission structure. This is not ideal but both myself and the owner agreed to make a bit less to get the deal done.

The process that followed was quite amazing to say the least:

  1. 2 September ’15 ….. We re-listed on all the sites etc
  2. 3 September ’15 ….. Got a buyer enquiry from Private Property
  3. 4 September ’15 ….. Took prospective buyer through and he loved the property but couldn’t make a final decision
  4. 6 September ’15 ….. We had a Sunday Show day and invited him to come and have another look. The show day was busy as usual. He also came through and I could see he was close to making the call.
  5. 8 September ’15 ….. With a bit of negotiation we took an offer and got it accepted the next day. By this time we had already informed the bond originator (Payneless Bonds) who made contact with the Purchaser and requested all the necessary documentation.
  6. 10 September ’15 …. The Purchaser had all his documents ready and his application was submitted to all the banks
  7. 11 September ’15 …. After only 1 day the banks started coming back with AIP’s (Approval In Principal – subject to Property Valuation)
  8. Monday 14 September ’15 …. we had our first bank valuation done and got our first bond grant
  9. 15 September ’15 ….. We got confirmation that the deposit was paid. We also received more bond grants and there you have it …… the property is now SOLD.

Sold New

13 Days from re-listing to SOLD with deposit and bond grant in place. This is why I love this profession (not job). The mere fact that this can happen with the right assistance, dedication, negotiation and a bit of luck.

I can only applaud Sanette and her team at Payneless Bonds who really jumped at this one and assisted in the fastest time possible. I can really recommend their services …. just go to http://www.paynelessbonds.co.za

If you looking to sell property anywhere on the West Rand, Krugersdorp or Roodepoort …. please contact me and I will try to assist ….. I love selling property! http://www.realpro4u.co.za

marketing