Selling a house In South Africa
1.
Prepare Your House for Sale
A) Clean and Repair
Deep clean the entire house, including windows, floors, and carpets.
Repair minor damages: patch holes, fix leaking taps, replace broken tiles, and repaint walls if needed.
B) Enhance Curb Appeal
Mow the lawn, trim hedges, and plant flowers if possible.
Clean the driveway, garage, and entrance area.
Ensure the front door, gate, and fence look well-maintained.
C) Stage the House
Remove clutter and personal items to make the home appear spacious.
Arrange furniture to highlight the functionality of rooms.
Add small touches like fresh flowers, clean linens, and good lighting.
2.
Decide on a Selling Method
Estate Agent (Realtor): They market the property, arrange viewings, and negotiate on your behalf.
Private Sale: You sell the property yourself, advertise online or locally, and handle negotiations.
Auction: Used if you want a quick sale, but it may sell for a lower price than market value.
3.
Determine Your Asking Price
Research the market value of similar properties in your area.
Consider using a professional property valuation.
Set a realistic price to attract buyers while leaving room for negotiation.
4.
Marketing the Property
Take high-quality photos of every room and exterior.
Advertise on property portals such as Property24, Private Property, or social media platforms.
Create a detailed property description including:
Number of bedrooms and bathrooms
Size of the property (m²)
Special features (garage, garden, security system)
Proximity to schools, shops, and transport
Arrange viewings for serious buyers. Ensure the house is clean and presentable during all showings.
5.
Receive Offers and Negotiate
Interested buyers will make a written offer.
You can accept, reject, or negotiate the offer.
Key points to negotiate:
Sale price
Occupation date
Conditions (such as bond approval, home inspection, or repairs)
6.
Sign the Offer to Purchase (OTP)
Once you accept an offer, both parties sign an Offer to Purchase, which is a legally binding contract.
Typical conditions include:
Bond approval for the buyer
Home inspection or repairs
Occupation date
Only sign when all conditions are clear. Consider legal advice if unsure.
7.
Bond Approval and Finance
If the buyer requires a home loan, they submit the OTP to their bank.
The bank will assess the buyer’s credit record, income, and affordability.
Once approved, the bank issues a loan offer and instructs a bond attorney to handle registration.
8.
Transfer and Conveyancing
A conveyancing attorney manages the transfer of ownership from you (seller) to the buyer.
You are required to provide:
ID documents
Original title deed
Municipal rates clearance certificate (proof that rates and taxes are paid)
The conveyancer also handles bond cancellation (if you still owe money on the property).
All transfer costs are usually paid by the buyer, but as the seller, you must ensure your bond is settled if applicable.
9.
After the Sale
Cancel home insurance, municipal accounts, and utilities in your name.
Keep copies of all sale documents and the transfer for your records.
Ensure any outstanding bond, levy, or rates payments are settled.
Tips for a Successful Sale
Hire a reputable estate agent with local market knowledge if selling through an agent.
Be realistic about your asking price and market conditions.
Respond promptly to inquiries and show the house at convenient times.
Ensure all legal documents and municipal accounts are up to date.
Disclose any defects or issues with the property to avoid legal problems later.