Buying and selling property ranks among the most important legal contracts you will sign in terms of the capital investment and the content, but too few people secure professional advice before embarking on the selling process to gain water-tight security.
In the picture: PLD director Brian Dickinson with associate Rob Mitchley
Peacock, Liebenberg and Dickinson director Brian Dickinson says before selling a property, homeowners should be equipped with knowledge about the transactions they will be undertaking. For example:
- understanding the common law right to appoint your own conveyancing company, rather than feeling obliged to use the one recommended by the estate agents
- knowing the idiosyncrasies within your house that may require special clauses in the sales agreement
- having the mechanisms in place that deal with defaults or dispute resolutions, and
- an insight into the ramifications of the South African voetstoots clause.
“The last is particularly important in knowing when you are protected under this clause and the details on what you are obliged by law to reveal to potential buyers in terms of the Consumer Protection Act (CPA),” Dickinson says.
Commonly found in sales agreements, the Dutch term voetstoots means the property is sold “as it stands” and, as a mechanism, offers some level of protection to sellers. However, it does not preclude them from the responsibility to disclose patent and latent defects of which they are aware.
“By approaching conveyancers before even securing the services of estate agents, consumers can be guided on their sales agreements and property transfers,” says Dickenson.
Specialising in property-related transactions, Dickinson and associate Rob Mitchley will confidently lead consumers through this complex area of law. Services include assisting sellers with an estate agent’s mandate; potential private sale agreements and negotiations with purchasers; concluding the agreements when sellers purchase another property and applying for mortgage finance – without charging clients for the insight.
“Since it is the seller’s prerogative to nominate the conveyancers, our incentive is for sellers to then appoint Peacock Liebenberg and Dickinson as their transfer attorneys when the property is sold,” Dickinson says.
“Essentially, our combined 25 years experience in conveyancing means we have the skills to assist property owners across the whole buying and selling process. Property remains the largest single investment most people will make during their lives, and it needs due attention to its legal implications without the stress of a deadline imposed as buyers make their offers.”
“The advice we can offer sellers is not only valuable but it is free. Every seller should take advantage and protect their interests.”
Visit www.pldinc.co.za/property.htm for a host of useful property-related articles, a cost and bond repayment calculator and additional information on the firm.
Contact PLD House, 4 Pastoll Road, Pinetown on 031 708 2266/083 448 7660 or email brian@pldinc.co.za.