“Rather ask a silly question and be a fool for a second, than keep quiet and be a fool for life.”
We have covered a lot of tips and info in this series, and hopefully illuminated some otherwise mysterious subjects, but the fact remains each one of these subjects, and countless others when buying property, can be discussed in so much more detail. These tips are also based on general examples, whereas many of you might have unique situations.
Information Gold Mine
There is this wonderful little thing called the Internet, and it is filled with useful and insightful information that can assist you! Curate the content carefully and make sure it is from a reliable source, but enrich your own understanding of it.
Use the Internet for things like bond calculators and cost calculators when you are planning and budgeting. They will always give you a good idea of what to expect. When you are uncertain about a term or concept used, search for it online, you will almost always find some information on it.
The Internet will also be very helpful in searching for a property and researching an area, but don’t just limit your information sourcing to online, speak to other sources as well.
Everyone involved in the property transaction should be willing to assist you. From Agents to Banks to Attorneys, and don’t be afraid to ask!
Estate Agents are a useless source of information on areas and prices. They usually work in specific areas and have a lot of knowledge of the sales history of the area. They can advise on good prices, bargain deals and up and coming areas. Listen to their information carefully, while keeping in mind they are also salespeople who have to make a living. A lot of what they say could just be to make the sale. Find an agent you trust, or speak to various agents and gather all the information. Compare and decide what is valuable.
Banks or bank employees assisting with the application will have a lot of knowledge and advice on the finance part of your deal. They can give you indications of good interest rates. They can also advise you on what would work well for you in terms of affordability.
Attorneys are well versed in the property transfer process and can answer any question you have in this regard. They can also advise on progress, bank requirements and any current information from the Deeds Office.
Speak to the Attorneys if you unsure about anything of the registration process or how it works. Especially if you have complicated situations.
You don’t have to be a client to ask questions, most attorneys will help you with info regardless.
The world is also rich in independent sources of information around the property industry. There are excellent websites and social platforms like HomeTimes (www.hometimes.co.za) full or articles, information pieces and forums to discuss property issues. You can also send them questions and they have access to various experts and sources to help you with queries.
In summary, never be scared to ask if you don’t know or unsure. Once you have overcome your fear of asking, you will be pleasantly surprised to find out how many willing and helpful people there are out there. It will make your property buying experience much more rewarding when you learn along the way, and the information you have accumulated will never be lost.
*Although every effort was made to ensure the accuracy of our calculations, Foce Property Investments and its subsidiaries accept no liability in respect to any errors contained herein. Under no circumstances will Foce Property Investments be liable for any loss or damage arising from these examples