Isn't that in Jhb though?
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Question of the Day: How do you normally pay for purchases in stores?
Tips for buying a house first time?
- Thread starter xrapidx
- Start date
Isn't that in Jhb though?
yes, you are right...every place on the planet will drop in price, but not cape town. cape town is immune.
like dublin, and california, and london, and japan. and scotland. the whole of it.
(relax..joking to highlight the point)
still, i make that about 25% off and still not selling. if you buy now, make sure the seller cries at your offer. otherwise you will be crying this time next year.
like dublin, and california, and london, and japan. and scotland. the whole of it.
(relax..joking to highlight the point)still, i make that about 25% off and still not selling. if you buy now, make sure the seller cries at your offer. otherwise you will be crying this time next year.
I think this is it: http://www.g.co.za/Anon/property-details.jsp?gid=1483551
Yeh - I'm not to worried about what happens next year though, I'm worried about 5-10 years time Waiting for ever is not a good plan - it might never reach the levels I want - I waited in 2000, and the place I could of had for R550,000 is now selling for R2.5m.
Yeh - I'm not to worried about what happens next year though, I'm worried about 5-10 years time
Waiting for ever is not a good plan - it might never reach the levels I want - I waited in 2000, and the place I could of had for R550,000 is now selling for R2.5m.thedutchman
Expert Member
that house looks good
Happens every 15 years or so?
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After much thought, and chatting to various people who work in the banking industry - specifically ABSA Private - I have made an offer of R1.6m, and am waiting to hear from the seller - in the meantime I'm preparing all the documents
*hold thumbs*
*hold thumbs*
Ou grote
Honorary Master
After much thought, and chatting to various people who work in the banking industry - specifically ABSA Private - I have made an offer of R1.6m, and am waiting to hear from the seller - in the meantime I'm preparing all the documents
*hold thumbs*
Good luck
They'll probably settle for 1.7
Good luck
They'll probably settle for 1.7
Nah - made it clear that this is my final offer (which it is), otherwise I can't afford the deposit of R360,000. The estate agent seems to think they will take it.
Ou grote
Honorary Master
I think they have one week to accept. Although I've told the estate agent that if its not done by the end of the month, the bank won't give me a bond due to affordability (which is true), I only worked for two weeks this month, so am only getting paid for two weeks. I don't take leave often - but I don't think the bank will take that into account.
Basically, I've worked out the following:
Bank Valuation: R1,800,000
15% deposit on above: R270,000
Accepted Offer: R1,600,000
Valuation - Offer: R200,000
Deposit less difference above: R70,000
So I need a R70,000 deposit, and then -+ R90,000 for transfer duty, fees, etc.
Ou grote
Honorary Master
Don't worry if you don't get it for that price, if you paid an extra 100k for it, you'd regret it later.
I'm still upset that I agreed to pay 10k extra for my place after signing the OP.
I'm still upset that I agreed to pay 10k extra for my place after signing the OP.
Don't worry if you don't get it for that price, if you paid an extra 100k for it, you'd regret it later.
I'm still upset that I agreed to pay 10k extra for my place after signing the OP.
Yeh, my main concern is them coming back with a R50,000 increase or something - This is really stretching my limits. I can relatively easy afford the monthly payments - but the deposit is killing - fortunately transfer is only scheduled to take place in November, which gives me time to save.
thedutchman
Expert Member
hey, well done!!! next mbb party is at your house 
marco79
Expert Member
Congrats xrapidx! Lets hope the banks gives you finance.
xistenz
Well-Known Member
I'm also about to buy my first property.
There is something that I am unsure about however. Is VAT payable on property? I heard from someone that it wasn't and you only pay transfer duty. Is that right?
There is something that I am unsure about however. Is VAT payable on property? I heard from someone that it wasn't and you only pay transfer duty. Is that right?
If you are buying property from a VAT registered company (like the security estate, developers) then VAT has to be included in the selling price and the seller pays VAT on the sale.
If you're buying the house from a private individual (not a VAT registered company) then the buyer needs to pay transfer duty to SARS.
