Home Buyers Handbook

home buyer’s handbook A resource to help guide you through your home-buying experience.

home buyer’s handbook

Every castle needs a king

Insuring your car is a no-brainer, right? Well, insuring your home is, too.

Imagine losing your home in a fire. If you’re properly insured, no problem.

But if you’re not insured, big problem.

If your home is bonded, you have to have buildings insurance.

The bonding bank won’t sign all the documents until they know that their asset is safe.

(And your home technically belongs to the bank until you make that final bond payment.)

When you’re buying a home, and your pen is poised over all the documents you need to sign, you’ll see that your bank will have included an insurance quote.

But you’re not obliged to accept that quote, and you have the right to shop around for buildings insurance that suits your budget better.

Also remember that a bank only has to cover itself for the amount that you’re borrowing, and so the insured value on their quote may not be the truest reflection of what your home is actually worth.

In a nutshell: “Market value” is what you would buy or sell your home for,what it’s worth.

“Replacement value” is what it would cost you to replace your home from the founda-

tions up, at the time of a claim, even if you’re only claiming for a portion of the building.

The replacement value is likely to be as much as 30% more than the market value.

“Insured value” is the total amount that your home is insured for. Your insured value should never be less than the replacement value.

The insured value should include the big things, like your boundary walls, security

beams, solar panels and swimming pool, and all the small things, like taps and door-knobs.

It should also include some things you’ve probably never thought about, but which you’ll need to pay for in the worst case scenario ... Like the professional and municipal fees that are part of the building process.

So, here’s the lowdown on buildings insurance: ● You must update your buildings insurance

insured value if you make any alterations or extensions on your property. ● You should relook at your buildings insurance every year and update the insured value, even if you haven’t made alterations. ● Getting an independent professional to value your property will ensure that your insured value is sufficient. ● Buildings insurance covers your actual buildings, as well as fixed items like fitted carpets and built-in ovens, but it doesn’t cover loose things like couches, clothes and cars (even if the car is in your garage). ● Basically, if you were to turn your home upside down, you’d need home contents insurance for everything that would fall out.

At King Price, we know that your home is your castle.

We also know that insuring your home shouldn’t cost a king’s ransom.

So, we offer cost-effective, comprehensive buildings insurance that covers you for loss or damage to your buildings and their permanent fixtures and fittings due to accidents, fire, theft and natural disasters like storms.

King Price is also the only insurer that offers car insurance premiums that decrease monthly as your car loses value.

SMS “king” to 12345 now for a commitment-free quote.

Save with super cheap buildings insurance If your home is bonded, you have to have buildings insurance. But, you don’t have to accept the quote your bank gives you.

Join our royal family and get a policy that suits your pocket and your property!

SMS ‘king’ to 43818 for a quote

FSP no. 43862 | T’s & C’s and standard SMS rates apply

Are you ‘property-minded’?

Do feel free to contact your agent whenever you are not sure about something and even more so if you have a query or complaint.

Feel welcome to contact the selling office with inquiries, and also with suggestions to assist in marketing.

MARIETTE ROSSOUW offers you some valuable information

On a personal note

Over the past three decades I received numerous calls from buyers and, even more so, sellers for advice on selling, or even for wisdom in a dire situation.

Thus, on being invited to join in on this Weekend Post property page, let’s look at some tips and suggestions.

On deciding to sell your property, it is always wise to consider inviting over about three agents before you make a decision.

It would be wise to ensure that you are selecting the senior ones — preferably specialising in your suburb.

It will be great if you get some feedback from previous sellers in this regard.

Morgan Scott Peck starts his well-known and classical book The Road Less Travelled by saying: “Life is difficult”.

So yes, the selling process can be quite challenging if you make the wrong choices.

So, which aspects can you consider?

On your calls to these consultants for an appointment, set enough time to receive each one at home. While introducing your property to them, do ask general questions.

You can ascertain how well the agent knows the area and you can check that with your own info on, say, schools and businesses.

Or what you consider of value to know.

An overall general knowledge of the benefits to live in your suburb can build trust in the marketing and selling process.

On listing your property, you can expect detailed information from the agent on the marketing strategy of the agency. By the way, this should not be read to you but be in a spontaneous presentation — like part of the way the conversation goes.

This interview should include how their marketing strategy will be personalised for your property, in not only a personal and custom-made marketing plan, but also a realistic and efficient one.

If drive and passion is part and parcel of the personality of your agent, the selling will already be a battle half-won.

Still, it is also vital to consider the knowhow and skills, and further to those, also the negotiating skills of the agent.

Do remind yourself that the latter is

3

2

3

2

Pearsonites in 2020 receiving Mariette Rossouw Lifestyle Awards are Liebe Venter, Tsoso Moeng and Kirsten Bester

earned over many years of experience, not through theory and training!

You can ask the agent on the different marketing options offered, and info on these options. Successful agents like working together as they have learnt that money is not the end of all. They know that top service rendered can bring a smooth, pleasant sale and that will always stand them in good stead.

To deliver guaranteed service with professional know-how and unsurpassed experience is your guarantee for that sale.

You may have to be made aware of the persuasive techniques and strategies of some agents to obtain mandates, for example overpricing, misleading truths, or using emotional and personal issues. On having considered it all, you as the seller can now make an informed business decision for the best option and best agent.

On discussing the pricing of property in the present market, do remember that there are three things determining the price: the current market, some terms/conditions that are important to you, and the timing, that is, when you can vacate.

Thus, it is not the agent who will craftily put a price together!

It is important to take note that there are various “values” for a property: ● total replacement value ● insured value (plot excluded) ● dream price of the seller ● advertised price ● selling price: the price a willing seller accepts from a willing purchaser ● bank value for bonds — varying depending on the applicant, even 90% of the price

4

3

3

2

● forced selling price (3 “Ds” — death, di-

vorce, departure — need to sell fast) ● auction price (in residential in SA often the lowest, in Australasia often the highest) ● A valuator can also value your property, especially on selling a business. ● Remember that in any stipulated value determining the selling price of a property, the professional fee is generally included in the price.

Taking these into consideration (an experienced agent will have the know-how to assist you), you can soon finalise the price of the property for advertisements.

Please complete the Fica info sheet, check the info on the agreement, and also list the defects of the property and fixtures not for sale. Any other requests or needs are listed, as well as details of good points (why did you buy it?) and bad points (how do we handle the prospective buyer’s objections?) of the property.

The property is advertised and a brochure for your property is prepared.

Do take note to check the information on it, not only to be valid, but also uniquely suitable in promoting your property in a smart and most positive fashion.

Expect your agent to regularly report back to you after visits or showings and also regarding the selling process. By the way, a senior agent may have buyers straight away to bring over to your property.

The seller can be held responsible for upto-date approved plans for the property (including all additions and outbuildings) by the NMMM on or before registration of transfer, thus please arrange timeously for these plans.

4+1

3+1

5

4

Yes! We list and we sell property!

You are most welcome to phone me for advice, help or needed information. And I am still on 082-801-2801.

Some final thoughts on selling — often the most expensive decision you will be making.

Somebody said: “Some people make things happen, “Some people watch things happen, “Some people wonder what happened ...”

See what we offer so that we can help you to know what to look for in the possible alternatives you have.

Ever since 1984 we have been well-known for our credibility and motto: “FIRST in Trust, Service & Integrity”.

We are value-driven, and our track-record proves that we get top results.

We say: “Insist on Mariette Rossouw’s team!”

We work hard and we play hard. We strive to be in a class of our own — a cut above the rest — and we depend on sellers to help us to stay ahead.

“If you do things well, do them better. Be daring, be first, be different!” (Anita Roddick)

FIRST:

We were first, and still are, and Aristotle says it: “We are what we repeatedly do. Excellence then, is not an art, but a habit.”

F — Fine history empowers us to see our fine future; we are focused and fervent. We really love fun and enjoy fine humour; we are flexible — and thus we can accommodate the needs of people! We are FIRST for you!

I — Integrity, integrity, integrity — our core value. And of great importance to us is innovativeness in everyday marketing, together with the effective use of technology. And yes, you should invest in property!

R — We are “real” people — you genuinely can know that: what you see is what you get.

Thus we can respect everyone’s right to hold one’s own.

S — Service excellence — by our committed, skilled and efficient consultants; and we share generously by giving our time, kindness and caring.

T — Transparency and translucency — not negotiable for us, and the thoroughness in our work underlies that!

9+Airbnb

8+1

5

u/c 2

The ins and outs of transferring property

What do conveyancing attorneys do?

Who appoints them and what are you paying for?

Signing of the offer to purchase document or paying the purchase price does not automatically make you the owner of the immovable property.

You become the owner of the property only once the property is registered in your name.

All dealings with ownership of land in SA are recorded in a public office known as the deeds office. The deeds office keeps information about the individual pieces of land in our country.

Conveyancing is the legal process that takes place when lawful ownership is obtained of immovable property.

A new deed of transfer must be drawn up and registered each time a property is sold.

This is to ensure the security and certainty of an owner’s title to his/her property.

A conveyancer is an attorney who has written and passed exams to specialise in property law. To qualify as a conveyancer one must first become an attorney.

What does a conveyancer do?

The conveyancer will draw the documents that are needed to transfer a property or property right from one person to another and will make sure that the laws related to property transfers are complied with.

tise, but also one that has a solid reputation of service excellence, good communication and trustworthiness.

Choosing a conveyancer that provides a fully comprehensive service and knows the ins and outs of the transfer process will not only provide beneficial support and advice to you but will also ensure that the transfer process is completed in a timeous manner.

A specialised conveyancing firm will be able to offer the expertise both buyer and seller need to ensure a smooth property transfer.

Most people will agree that buying and selling a home is one of the most stressful things you can do, which is why choosing the right people to help guide you through the process is beneficial in ensuring an effortless transfer.

Why use us?

The conveyancer will ensure that the agreement of sale is followed by both parties.

Who chooses the conveyancer and who pays the conveyancer?

The seller chooses the conveyancer who will transfer the property and the purchaser may choose the conveyancer who will register the mortgage bond.

In SA’s system of property transfers, the purchaser pays the conveyancer’s costs, which

Ω Ζ

΄

΄

Ζ Έ !

΄

! Έ

Ζ

Ζ

""

Ζ ""

΄

΄

΄

Έ

" Ω

#$% &'( )* )+) $+++, #$% &'( )* -)$ +$)$ " . Ω Ζ

Ω ΈΈΈ Ω Ζ

Ω

Greyvensteins attorneys is the biggest law firm in the Eastern Cape with more than 60 consist of the transferring costs and the bond years of experience in conveyancing.

We provide outstanding service in residencosts. The costs are based on a tariff recomtial and commercial conveyancing and propmended by the Law Society. erty-related transactions.

We are committed to rendering a profesChoosing the right conveyancer: Selling and transferring your valued property sional service to property owners, financial can have many challenges if the correct advice institutions, estate agents and developers in the most innovative, cost-effective and is not received. timeous manner.

It is advisable to conduct thorough reWe are consistently ranked as top performsearch when selecting a conveyancing firm ers by the deeds office. that not only comes with the necessary exper-

Pickfords makes moving easier

cameras and remote controls. ● Pack a bag with all the items you will need to see you through your first evening in your new home. Ensure that you’ve packed pyjamas, toiletries and goodies to entertain your children during the move. ● Involve your children by giving them their own set of tasks. Encourage your children to pack a carton filled with their own things. ● Provide Pickfords Removals with your insurance application form.

Planning for your move

● Contact Pickfords Removals to arrange for

a site visit to your home and a pre-move survey. Take this opportunity to discuss any concerns you may have. Will you be moving your car, pets or plants? How will your goods be sent, by air or road? Will you need to put any items into storage? ● Travel light; consider which of your belongings you no longer wish to keep. You can sell them, donate them to a worthy cause or give them away to friends. If you haven’t worn or used it in the last 12 months then you probably don’t need it anymore. ● Decide on a move date, book this with Pickfords Removals and start putting together a plan for your move. Confirm the date closer to the time and alert us as soon as possible if you need to change the date. ● If you have already organised your new home, spend some time thinking about how you would like to arrange your belongings.

Where would you like all your furniture to be placed upon arrival? A logical and practical plan, no matter how basic, will help you to settle in quickly when you reach your new destination. Share your plan with your move company so that they can pack accordingly. ● Finalise your family’s accommodation requirements. Will you be cancelling your lease or selling your current home. Your estate agent will help you with this process. ● Contact your insurance agent to transfer

The day of your move

● Make arrangements for your children and

or discontinue household, medical and motor vehicle policies. ● Instruct the post office to forward or discontinue your mail. ● Notify your utility providers, telephone, gas, electricity and water, of your move. ● Change your recorded address or discontinue services with the following service providers: magazine, newspaper and gym subscriptions, cell phone, internet and satellite TV providers.

home buyer’s handbook

COMING SOON! KEEP AN EYE OUT FOR OUR NEXT HOME BUYER’S HANDBOOK! To advertise in this keepsake supplement please email: williamsl@theherald.co.za for information.

● Gather all important documents such as

your drivers’ licenses, birth certificates, leasing or purchase contracts and all medical, dental and school records. Never pack any important documentation into your cartons.

Remember to keep them safe and accessible during the move. ● Put together a file with all your receipts to keep track of your moving expenses. Some business moving expenses are tax deductible. ● Discuss your insurance in transit needs with your Pickfords Removals move consultant and start completing your insurance valuation form. ● Decide on the personal items you’re taking with you such as keys, clothing and jewellery. ● Advise your friends and family of your change of address.

pets to be looked after on the moving day. ● Accompany the supervisor while he is taking an inventory of your possessions. Point out the items that require special wrapping or care and which cartons you would like to be loaded last. The cartons may include toys for your children or kitchen and/or bathroom necessities. ● Carefully read the inventory before signing and ensure that you receive a copy. ● Do a final inspection of your home before the removals vehicle leaves. ● Provide your move co-ordinator with all your contact details and accurate directions to your new home.

Delivery day

● Provide your movers with a floor plan of

where you would like them to place your furniture and appliances. ● Be available to answer any questions that the movers may have. ● Unless prior arrangements have been made, we will require payment of all outstanding charges before unloading the vehicle. ● Use the inventory or packing list to mark off the items and their condition as they are being brought in.

Leading up to your move ● Empty, defrost and clean your fridge and ● Record any damage to goods on your form freezer and ensure that they are completely and notify your move co-ordinator. dry before your move. Any residual damp After your move will cause damage to these goods. ● Empty petrol from your lawnmower or The following is only applicable if you are relocating to another city or country: any other garden appliances. ● Return any items on loan such as videos, ● Familiarise yourself with your new neighbourhood and locate your local shopping library books or your friend’s recipe book. ● Ensure that all water has been drained centre, hospital, post office, petrol stations and library. from your garden hose. ● Arrange a visit with your children to their ● Collect any outstanding dry cleaning. new school to meet their new teachers. ● Discard your vacuum cleaner bag. ● Back up data on your personal computer ● Locate a new doctor and dentist and probefore your move, label and pack in a safe vide them with your family’s records. and accessible place. Dismantle all electronic ● Arrange your new utility providers, teleequipment and remember to mark cables for phone, internet, gas, electricity and water. ● Find out about refuse collection days and ease of reassembly. ● Remove batteries from clocks, games, recycling options available in your community.

W:63.011mm H:100mm

Get bond pre-approval before you buy What is a prequalification?

Getting prequalified means you know your credit score, and what you can realistically afford in home loan repayments every month.

It’s a good indicator of what size home loan the bank will grant you.

What are the benefits?

You’ll know what you can realistically

afford, so you can start house hunting in the right price bracket.

You’ll know your credit score. Your credit score should be 600+ to have your home loan application approved.

As a qualified buyer, your offer to the seller is that much stronger by demonstrating that you know how much you qualify for.

More than 90% of applications with an

ooba Home Loans’ prequalification certificate are approved.

and issue you with a Qualified Buyer’s Certificate.

How do I get prequalified? ooba Home Loans offers an in-depth prequalification, with the help of their home loan experts.

They will examine your income and expenses, and your credit score, like a bank would,

The next step: Applying for a home loan Once you’ve found a home that matches your price bracket, and you’ve made the offer to purchase, it’s time to apply for a home loan with ooba Home Loans.

Contact them on 041-393-7000.

Creative renovation tips for a family on a tight budget Did you know that a few simple home improvement projects can increase the value of your home and make it more appealing?

Remodelling is especially important when living in an older home or when purchasing a “fixer upper”. But, contrary to popular belief, remodelling does not have to cost you an arm and a leg.

Here are a few simple, creative renovation tips for those working with a tight budget:

A fresh coat of paint

An easy way to transform any room, and add a new, fresh ambiance to your house, is to spend a couple of rands on a fresh coat of paint. This will instantly spruce up a space without the need to spend a fortune on additional furniture or fixtures.

If you’re brave enough to apply the paint on your own, you could save the money you would usually spend hiring professionals, and experience the joy of watching your space transform from drab to fab.

New cabinets

meets the ceiling. This embellishment is a relatively simple way to up the value of a home.

Non-wood moldings are the most affordable.

Furniture

While some may not be able to spend too much on new furniture, by simply rearranging the furniture in a room, you’re able to make the room feel different.

The power of rearrangement can help you to make use of “dead zones” in a room — those spaces that may have been underutilised. Rearranging furniture costs absolutely nothing, but gives you the feel of a completely new home.

Wall space

Make use of a large area of empty wall to hang up expensive mirrors, ornaments and picture frames.

Consider hanging up some of your family’s works of art! This is a really fun way to make your home feel warm and inviting, while creating an interesting area for guests to focus on.

Restore and re-fit cabinets and doors for a quick makeover in your bedrooms and kitchen. New cabinets are quite expensive and fitting a whole new kitchen can be a taxing project.

By refinishing your cabinets — sanding them down and applying a new finishing top coat — you can instantly achieve the look and feel of a brand new kitchen … without the price point!

Shop around

Install crown molding

Another affordable change you could make is to upgrade your lighting fixtures.

Lighting contributes to the ambience of a room and can play a big part in how the space is used. Funky lampshades and elegant light fixtures can help you to add that extra bit of pizzazz to a tired space.

Adding a trim to your ceiling and walls is an easy way to add value to your home, and to increase the overall aesthetics.

Crown moldings are a decorative finishing element that is used for capping cabinets and interior walls, at the point where the wall

When shopping for household accessories or big ticket items which can be used to give your home a new feel, consider shopping around for cost-effective items that go a long way towards making the space inviting.

Scatter pillows are a great way to bring a pop of color and you can mix and match them on beds and couches.

Lighting is important

BLACKLISTED?

* DEBT REVIEW * UNDER ADMIN * JUDGEMENTS * PAYMENT SCHEDULES * DEFAULTS CLEAR YOUR BLACKLISTINGS NOW! 21 YEARS EXPERIENCE CLEARANCE SPECIALISTS EASY PAYMENT PLAN AVAILABLE WE START NOW, NO DELAYS CALL:

LIMBADA ATTORNEYS INC. 94 STANFORD ROAD, KORSTEN (Opposite SASOL)

Tel: (041) 453-4773 CELL/WHATSAPP: 061 651 1070

How to get the best from your building contractor Are you planning a building project?

The Master Builders Association (MBA) has been around for over 120 years and would like to help you choose the right contractors for your building job.

MBA members include contractors providing most services, including general building, plumbing, electrical, painting, glazing, waterproofing, ceiling, flooring, tiling, carpentry.

The MBA strongly recommends the following simple steps when planning your building project. Like the old saying goes, “Measure twice, cut once”.

1 Planning

● Decide beforehand what you want done; ● Formalise this in a plan and detailed speci-

fication; ● Have a budget estimate drawn up by a qualified person to give you an idea of your financial requirements.

2 Choose a reliable contractor

● Do your homework; ● Contact the Master Builders Association

for a list of homebuilders; ● Make a short list of potential contractors;

● Ask them about their recent projects and

contact some of their clients for references; ● Ensure they are registered with the relevant authorities such as: NHBRC (New build); Workman’s Compensation; Income Tax; VAT.

3 Insurance

● Contractors should have public liability

and appropriate insurance to cover their works risk. ● Ensure that you have sufficient cover with your insurance company for alteration projects in respect of both damage to your existing building and contents.

4 Quotations

● Provide your tenderers with your detailed

requirements and specifications; ● Arrange a site visit to clear up any questions; ● It’s a good idea to get two or three quotations; ● Make sure all tenderers have the same information; ● Include allowances for items (prime cost) which have to be built in but have not yet been finalised at time of tender;

● Stipulate the building agreement/contract

to be used an highlight any specific terms.

Standard contract sare available from the MBA.

5 Accepting the quote and signing the contract ● Quotations should be in writing and

should refer to the specification and the form of contract to be used; ● The quote should include all costs and should specify anything that is not included; ● Beware of very low quotes and always compare against your specification; ● Make a careful comparison between quotes received and list any questions for the preferred contractor before accepting the quotation; ● Sign your building contract; ● Hand over the site to the successful contractor.

6 Quality assurance

fects, employ a building consultant or architect to monitor and administer the project on your behalf.

7 Extra work (variations)

● Establish and agree on the cost of extra

work or variations before commencement. ● Commit the variation to writing and record the extra cost or saving.

8 Payment

● Certain completion/payment stages should

be agreed upon beforehand and final payment must only be made after inspecting the completed work. ● If you are using mortgage bond finance, make sure your contractor is aware of any relevant conditions of your loan and that the bank is aware of the contract you have signed.

9 Disputes

● The MBA recommends an MBA-approved

contract be used and the above steps fol● Meet with your contractor regularly during lowed. the project to monitor performance and qual- — Issued by the Master Builders Association, Eastern ity; Cape. Tel: 041-365-1835. E-mail: ecmba@glob● If you are not qualified to determine deal.co.za; Online: www.ecmba.org.za