Offer to purchase question

Has anyone bought a commercial property before like a small office building. What should a first time buyer ask the seller for?
 
beefymoocow said:
Has anyone bought a commercial property before like a small office building. What should a first time buyer ask the seller for?
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I can't see how it is much different from purchasing residential property, i can only imagine that you should check the zoning
 
Steamy Tom said:
I can't see how it is much different from purchasing residential property, i can only imagine that you should check the zoning
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Yea I checked the zoning it looks fine. I’m thinking building plans. So i know where they put the pipes and aircon. But need to try find an agent who market these office buildings any recommendations?
 
beefymoocow said:
Yea I checked the zoning it looks fine. I’m thinking building plans. So i know where they put the pipes and aircon. But need to try find an agent who market these office buildings any recommendations?
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Commercial is another ball game vs normal renting a house/apartment out
 
zerocool2009 said:
Commercial is another ball game vs normal renting a house/apartment out
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Yea come with risks. But I think this property might come with some good opportunities. Need to do some research.

And I work at property/telecom company which I might be able to leverage.

Just haven’t purchase a commercial property. All I know rates are so much more expensive.
 
beefymoocow said:
Yea come with risks. But I think this property might come with some good opportunities. Need to do some research.

And I work at property/telecom company which I might be able to leverage.

Just haven’t purchase a commercial property. All I know rates are so much more expensive.
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Also find out if the seller is VAT registered, that can have price implications.
 
bokka1 said:
Also find out if the seller is VAT registered, that can have price implications.
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It’s vacant. So don’t think I can structure it as a going concern. Don’t think it’s meets the definitions

And hopefully i can get it for over a million. I know if it’s structure as a going concern I won’t have to pay transfer duties. But the transfer duties will probably be very minimal
 
beefymoocow said:
It’s vacant. So don’t think I can structure it as a going concern. Don’t think it’s meets the definitions

And hopefully i can get it for over a million. I know if it’s structure as a going concern I won’t have to pay transfer duties. But the transfer duties will probably be very minimal
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If the Seller is VAT registered then VAT will be payable on the purchase price but no transfer duties will be payable. If you are VAT registered then you would be able to claim back the VAT. If no one is VAT registered then normal transfer duties will be payable.
 
Starting to get moving quotes now.

I know moving mid month and mid week is a lot cheaper.

Any other tips or recommendations?

We are contemplating doing it ourselves if the transfer goes through in the middle of the month. It is only 2km from our current address. Have 2 x 3ton trucks and 3 x Hilux 1 tonners available from the office. And plenty of hands that will be willing to help.

But I know from experience a moving company is so much quicker and less hassle.
 
APoc184 said:
Starting to get moving quotes now.

I know moving mid month and mid week is a lot cheaper.

Any other tips or recommendations?

We are contemplating doing it ourselves if the transfer goes through in the middle of the month. It is only 2km from our current address. Have 2 x 3ton trucks and 3 x Hilux 1 tonners available from the office. And plenty of hands that will be willing to help.

But I know from experience a moving company is so much quicker and less hassle.
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Diy and a have a moerse braai for everyone afterwards.
That way no strangers will see what new products are available for some midnight shopping.
 
beefymoocow said:
Yea come with risks. But I think this property might come with some good opportunities. Need to do some research.

And I work at property/telecom company which I might be able to leverage.

Just haven’t purchase a commercial property. All I know rates are so much more expensive.
Click to expand...
With covid WFH has been advanced a decade, I think commercial property might collapse / dive, hard.
 
APoc184 said:
Starting to get moving quotes now.

I know moving mid month and mid week is a lot cheaper.

Any other tips or recommendations?

We are contemplating doing it ourselves if the transfer goes through in the middle of the month. It is only 2km from our current address. Have 2 x 3ton trucks and 3 x Hilux 1 tonners available from the office. And plenty of hands that will be willing to help.

But I know from experience a moving company is so much quicker and less hassle.
Click to expand...
Yip, DIY

Much much cheaper and considering it is just 2kms away.

Let us know when the braai begins, then we will come and "help"! :ROFL: :ROFL: :ROFL: :ROFL: :ROFL:
 
So I just received the pro-forma invoice for the transfer leg of my property purchase.
The Registration fee and Transfer duty are in line with Ooba but the "other" fees add up to a few thousand more:
1600849956451.png
From Ooba:
1600850013215.png

Does this look correct? Will try my luck with asking for a discount, but there's very little incentive for them to give one, it is not like I can go anywhere else.
 
droidx said:
So I just received the pro-forma invoice for the transfer leg of my property purchase.
The Registration fee and Transfer duty are in line with Ooba but the "other" fees add up to a few thousand more:
View attachment 920137
From Ooba:
View attachment 920139

Does this look correct? Will try my luck with asking for a discount, but there's very little incentive for them to give one, it is not like I can go anywhere else.
Click to expand...

buying a ~R2M house?
 
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