When a property sale is cancelled after damage has occurred, who carries the cost? A recent High Court ruling highlights why risk clauses, accurate condition records and the cancellation date can have major financial consequences.
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When a property sale is cancelled after damage has occurred, who carries the cost? A recent High Court ruling highlights why risk clauses, accurate condition records and the cancellation date can have major financial consequences.
A Marina Da Gama property. A collapsed wooden deck. A purchase price of R1.55 million and repair costs claimed of just over R100 000. The facts are not complicated. But the legal battle that followed lasted more than a decade.
With its innate potential for conflict between competing rights, community living requires a fine balancing act between the individual rights of owners and residents, and the rights of the community as a whole.
Buying your dream home is exciting—but the purchase price is just the beginning. From deposits and transfer duties to hidden fees and ongoing monthly costs, it’s easy to underestimate what you’ll actually need to budget for.
A recent High Court judgment confirms, yet again, that if a property seller knows about a hidden defect and keeps it quiet, no exemption clause will save them.
A recent High Court judgment confirms, yet again, that if a property seller knows about a hidden defect and keeps it quiet, no exemption clause will save them.
A recent High Court judgment confirms, yet again, that if a property seller knows about a hidden defect and keeps it quiet, no exemption clause will save them.
A recent High Court judgment confirms, yet again, that if a property seller knows about a hidden defect and keeps it quiet, no exemption clause will save them.
Contracts often contain suspensive conditions, a common example being the bond clause in a property sale agreement. The standard bond clause provides that the buyer must obtain a bond by a set deadline, and everyone’s rights and obligations under the agreement are suspended until the bond is granted.
South African property buyers and sellers will have been cheered by news that we are now officially the most affordable country in the world in which to buy a home. We’re only a nose ahead of the USA and Bahrain in this particular race, but it’s great to be a world leader in something so positive for a change.
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