Buying Property in Tokai

If you are buying property in Tokai you should consider using the services of a property buyers agent. Take some time to look at just some of the risk involved in buying property in Tokai and how using a buyers consultant can help you avoid them.

The four most commonly encountered risks for property buyers

Please spend 2 minutes reading through the most commonly made mistakes when buying property in South Africa and how SAHomeBuyers can help you turn your property purchase in Tokai into a memorable and stressfree experience.

1. Opportunity lost

Buying property in Tokai should mean that every option as to what properties are available is explored. Whilst the search may initially be exciting, for many of us it can soon turn tedious and become a chore:

Google search – A simple Google search returns some 125,000 potential websites for you to visit, clicking just the top two provides you with over 250 options for buying property in Tokai.
Newspapers – Of course you may also look in the newspapers, the most popular being the Cape Argus at a weekend. The Weekend Argus has 3 volumes and hundreds of pages for you to also peruse.
Show days – Another way of buying property in Tokai is show days – this can be a lottery as you drive from street to street hoping to see an on show board (and additionally hoping that the property is indeed something like you are looking for and within your budget).
Estate agents – Estate agents will of course help you when it comes to buying property in Tokai. As they will only show you properties that they have on their books you will need to contact all 30 odd of them to ensure you cover all bases.

Reality is – it virtually impossible for you to explore all options when looking at buying property in Tokai. You simply would not have the time and even perhaps the local knowledge of where to go. In addition the very best properties are often sold before they are even advertised. With SAHomeBuyers we search all options for you, both listed and private properties for sale. Our pledge is to leave no stone unturned as we conduct our thorough search for you buying property in Tokai.

2. Buying a property in Tokai without proper insertion of special clauses.

Unfortunately most of us are not experts when it comes to properties, we for sure do our best to inspect the property for sale but in the end we do trust others to disclose and rely a lot on “gut feeling” when buying property in Tokai. But is this really enough and what can be done about it?

There are too many stories (and court cases) of owners not disclosing all the facts, either to their selling agent or to you the buyer. Typical ones include a lack or proper planing permission and structural defects (such as leaking roofs or cracking). If you are buying property in Tokai beware – 98% of all estate agents have a sold as seen clause on their offer to purchase agreements (which is legally binding). It will again, in all but a few cases, contain clauses that pertain to only 2 surveys – electrics and wood beetles.

Your buyers agent is experienced in what to look for and what problems are common in what areas, they will tell you the good, bad and ugly! If unsure of the property they will advise you to insert clauses such as additional surveys and subject to. With SAHomeBuyersyou have a property expert on your side, helping you to avoid any potential pitfalls and problems that could be extremely expensive or result in you selecting the wrong property.

3. The terms and conditions

This is probably the biggest purchase in your life and almost certainly the most expensive. The fact is most of us simply cannot afford to get it wrong. Making an offer for a property is done via an ‘offer to purchase’ agreement, and it is within this offer to purchase that terms and conditions relating to this sale are specified. These are preprinted and standard to the selling agent and are drawn up by them. As said, clauses are very standard and include little in the way of protection for the buyer.

The best example of this being the clause that is in every offer to purchase we have ever seen – the ‘sold as seen clause’. Worth thinking about for a second! You may be committing millions to a purchase that is ‘sold as seen’ – similar to the way some may buy a cheap second-hand car! There is no cooling off period and the offer to purchase will often not call for structural or other surveys, the only checks being wood and electrical.

It is only the additional clauses inserted by the buyer that offer any real protection to them. But of course most of us would not know what clauses these should be.

4. Price negotiations

All offers in South Africa are made in writing via an ‘offer to purchase’. An offer to purchase in South Africa is a legally binding contract. Once presented to the seller and signed as accepted, there is no going back. It is therefore essential that the offer is formulated correctly and the price specified is the right price. Be aware that estate agents are skilled negotiators. The good ones will be both experienced negotiators and well-versed in the art of obtaining the best price and terms. The dilemma here is that they act for the vendor of the property and not the purchaser.

In other words you are seeking advice from the very party that is being paid by the seller, and is therefore legally obliged, to obtain the best price on their behalf. Quite rightly so, of course, this is what they are retained and paid to do – but where does this leave the buyer?

SAHomeBuyers is Cape Town’s leading independent property buyers’ consultancy. Our concept, whilst scarce and hard to find in South Africa, is commonplace throughout many countries (UK, New Zealand, Australia, USA etc) – in fact in the USA over 50% of house purchases involve a selling agent and a buyers’ agent. Not using a buyers’ agent will in short leave the buyer on his/her own with no support legally or in negotiating the price and terms and conditions.

An even bigger idiosyncrasy is that with nowhere else to turn for help, it is quite normal that a buyer will discuss his/her prospective offer with the selling agent. Even seeking their advice as to what should or should not be included and even in terms of what price to offer.

In summary, buyers may find themselves in a position where they are asking the party legally obliged to obtain the best possible price and terms for the seller as to how to an offer should be structured to obtain the best possible price and terms for themselves, the buyer. An awkward situation for the selling agent and far from ideal for negotiating.

How we help?

Pay a lower price for your property – A skilled negotiator can save you lots of money and from making expensive mistakes. Buying a property is usually the most expensive purchase a person will make in their life and this is not something you do every day of the week (unless you are a buyers’ agent!). With over 8 years experience in Tokai property market and having negotiated 100’s of property transactions, your personal buyers’ agent is expertly placed to negotiate a discounted price on your behalf.

Being experienced property professionals, we know the tricks of the trade used by estate agents on unsuspecting buyers. We provide an objective and unbiased view on the properties true worth and remove the emotion from the buying process.

Let us negotiate the price on your behalf and potentially save you hbundreds of thousands, if not millions of rands. We always confer with our attorneys to ensure your offer to purchase contains the appropriate clauses specific to your circumstances and the selected property. Buy with confidence and pay the right price!
Legal protection during the entire property buying process – SAHomeBuyers has years of experience with legal risks associated with property purchase in South Africa. We help you understand the legal jargon, point out potential risks to you the property buyer and add additional clauses where applicable.
Thorough property search – We look through all available property in Tokai for you, saving you time and money. Our search includes all estate agencys portfolios as well as listings added by private sellers.