South Africa is a perfect destination, if you love adventure and temperate weather. You might even consider buying a house in one of the country's sought after destinations. As most of the people don't know, there is a long list of houses for sale and property for sale South Africa. Even if you are from a foreign country, acquiring a property for sale, or property to rent is very much possible in the country. The favorable exchange rates, particularly between South African rand and US dollars makes it even more affordable to acquire a property there.
Take for instance a property for sale Cape Town. One good house, with a swimming pool and a big garden could cost for as low as US$250,000. Other areas of South Africa could even get cheaper, such as property for sale KZN (province of KwaZulu-Natal) which could be even for as low as US$100,000. Many find the Cape Region a more preferable investment.
Things To Do
If you are really interested into buying properties in South Africa, then better check some of these points to help you land to the property of your dreams:
Look For Real Estate Agents Or Auctions
It would be a best move to consult estate agencies than to anyone else because properties sold through private transactions are rare. Most of them could be seen on estate agencies. The dirty job of going through the required legal proceedings (e.g. contract signing, purchase offer) would also be shouldered by the agent, thus, it would mean less work for you. Another way to look for nice residential or commercial properties is through property auctions.
Make A Market Survey
If there's a certain city in your mind, better check if there are available properties. Check one of the country's biggest newspaper - such as Cape Argus, and look at the property section every weekend. You would be able to find some properties for sale - mostly with photos. Sundays would also be an ideal day for property hunting, as most houses could be freely viewed without setting an appointment. Your choices could be of variety because there is a long list of property for sale Soweto, property for sale Western Cape, property for sale Eastern Cape, property for sale Durban, property for sale Gauteng, property for sale Pretoria and in many other places if South Africa.
Prices And Financing Of Real Estate Properties
The price of most real estate properties are normally advertised at a higher price than the seller's expectations (ranges from 10 to 15 percent). If you are interested in buying something, negotiations regarding the price of the property should be made with the sellers. If the sellers agree to sell the property at the price range that both of you had agreed on, they would require at least 10 percent of the total amount for a down payment. To make sure that the payment is transferred securely, both parties need the help of an attorney. Land properties should be registered at the deeds office. They would require a transfer duty charge of about 5 to 8 percent of the amount of the purchased property. From that, the attorney is going to receive 1 percent.
It is better to purchase a property in South Africa in cold cash, rather than acquiring it with a bank loan because the interest rates for house purchase via bank loan ranges at 13 percent or higher. Also, banks in the European countries do not readily approve financing properties in South Africa.
Author Resource:
Marcus Dallo is the author of this article on Property For Sale .
Marcus Dallo is the author of this article on office catering Sydney .
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