Home Inspection in South Africa - Estate Agency Affairs Board
Estate Agents, Residential Property, Property Rentals
Article from the EAAB website: http://www.eaab.org.za/article/1
Home Inspection in South Africa - Do not buy until you have an inspection!
Whether intended for you, or for a rental tenant, the purchase will certainly be exciting, and probably daunting, as the possibilities present themselves:
The house looks amazing – but what about the things that I can’t see? What are the hidden costs? What if I buy someone else’s problem?
Beware the “Voetstoots” Or “As Is” Clause
How many prospective buyers are aware that they sign their rights away when they sign the “Offer to Purchase” agreement, which includes the “Voetstoots” or the “As Is” clause. This clause is designed to protect the Estate Agents in regards to the Consumer Protection Act.
According to the Law Society of South Africa, 98% of Estate Agents put this clause into their agreements, and the buyer is well within their rights to have it excluded from the “Offer to Purchase.”
It would be advisable to have a home inspection on your property as this will probably be the biggest purchase that you will ever make.
What you should get with a home inspection service:
• Peace of mind;
• An unbiased opinion on the condition of the property;
• Photographic report plus a written report;
• Protection from unscrupulous sellers;
• Maintaining ethical and technical standards;
• To protect buyers and estate agents from unethical practices.
“Few would risk buying a pre-used car without an automobile inspection so why risk your life savings on a property that you can’t be sure about?”
Source: Director of Affairs for South Africa
, Buying Property
, Estate Agents
, Estate Sales
, houses for sale
, Property Listings
, Property Rentals
, Residential Property