Author: Marnus Steyn

Marnus Steyn http://marnussteyn.net I am a Real Estate Professional and Estate Agent by profession, yes, it is a profession. I am also a husband, MTB / Cycling lover, fitness enthusiast, aspiring photographer, social media and online marketing student ...... stay humble, honest & hungry!

Accounts in arrears and special levies

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Q: Am I as the buyer responsible for any outstanding accounts on the property I would like to buy?

A: Sellers are responsible to settle all outstanding council, municipal and other associated accounts such as levies and special levies prior to or during the registration process. An undertaking can also be given by the Attorney firm doing the transfer, to settle such accounts from the proceeds of the sale upon registration.

As part of the registration process, the Conveyancer needs to get a council and body corporate or home owners association clearance certificate before the registration can proceed. It is important to make sure that it states clearly in the contract (Offer to Purchase) that the buyer is not liable for any of these accounts up to the date of transfer into the new owners name.

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Family house for sale

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Fantastic value for money, right here in Silverfields, Krugersdorp.

Spacious, 4 Bedroom family house with 3 bathrooms, lounge, dining room, big kitchen with laundry area, 2 studies ….. Large secure stand with heated pool, extra big double garage and a 4 x 6m store room.

This property’s is in a good condition, close to schools and other amenities and can be a great buy for a young couple / family stepping up into the residential property arena.

To view more pictures of this property, go to http://www.realpro4u.co.za ref 475615

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New Year – 2012

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I’m not really one for NEW YEARS RESOLUTIONS but I suppose it’s a good time to review how and what I have been doing up to now.

With almost 38 years of experience in this thing we call life I know that I can always try to do something better or be more efficient than what I have in the past. This is a great time to look for better ways to do what I do, better. Being in the Real Estate business for the last 5 years and having to sell and market properties for my clients, it doesn’t take a Rocket Scientist to figure out that if I can sell more properties, more often, I will make more money and more of my clients will be happy. This sounds easier than it is as there are a couple of hurdles that need to be overcome.

A couple that comes to mind, in no specific order are:

1. List at the right price
2. Build up a database of buyers / investors
3. Regular communication to clients / buyers / sellers
4. Better and more efficient use of technology, websites, blogs and social networking platforms ….. and and and

…… Not that any of this is new but it’s good to have a constant reminder. More happy clients also means more “word of mouth” marketing that your clients do on your behalf ….. still one of the best forms of marketing.

So I guess after all of this, my New Years Resolution for my business is not just to work “smarter” in stead of “harder” but to have more of my clients do my marketing for me ……

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Year End – Festive Greetings

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2011 is almost something of the past …. can’t you believe it! It has really been a very busy year.

From me, I would like to wish all my clients, buyers, sellers, tenants, colleagues and fellow agents and great festive season and a fantastic 2012. Travel safe wherever you go and come back refreshed so you can achieve all the goals and milestones for the year, personal and professional ones!

Enjoy!

 

QR Codes for business and advertising

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QR Codes is a simple and interesting way to advertise and can include text, URL’s, contact details as a contact card etc.

I found a site where these codes can be generated and then downloaded to be used on just about anything from business cards to caps, t-shirts and also as print advertising in newspapers, magazines, brochures and much more.

Check out the following site for generating your own codes: http://www.goqr.me

Codes can be scanned from you smart phone using a scanning application for QR Codes. On my Blackberry I use an application called “BeeTagg” ….. Works well, but check your phones applications for this ……. Enjoy!

Marnus Steyn Blog

 

Cluster in Chancliff

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Cluster for sale in Chancliff

Very spacious 3 bedroom 2 bathroom cluster. Lounge and dining room + double lockup garage with low levy and gas stove + solar geezer.

Contact me to view on 072 264 7806 or email, marnus@realpro4u.co.za or visit the property on the RealPro website or just click here to view the property.

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Property Business: Outlook for 2012

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I have only been in the Real Estate industry for the last 5 years, since March 2007 and have had my own agency since July 2007. It didn’t take me long to realise that it might not have been the best time to start an agency as this was also the time when the market started to go for a bit of a “dive”, if you know what I mean. The bond lending rate was at 11% in July 2007 and went up to 15.5% (June 2008) before coming all the way down since then to where we are today.

The market and business as we knew it was changing and then the new National Credit Act came into play. There were no more 108% loans where the banks financed your loan, your deposit, your costs and your new lounge & dining room suit. Many prospective buyers become tenants and the words “qualified buyer” took on a whole new meaning. The “boom” was no more and the property industry became a touch place to make a living. Many agents and agencies have gone “walkabout” to find greener pastures and the industry became a lot more regulated. We have also been through a recession and many economists are predicting more of the same to come.

So, what should we do now? Well, I might not have 30 years experience in the property business but I have enough experience in life to know that our situation is not unique and that many before me and even more after me will be able to make a success in tough times. Looking at 2012 and remembering my brief 5 years of experience, marketing and selling houses on the Westrand, I am very positive and looking forward to a great 2012. Will it be tough? Yes! Will buyers struggle to get bonds? Yes! Will there be less stock? Probably! But the fact is that there will always be people who need to sell their properties and there will always be those who see opportunity in buying property for themselves or for investment purposes. Economists all over agree that property in SA is still a good long term investment. There are also less qualified agents to assist buyers and sellers so those that make the effort will get the listings and take the offers.

My focus will be on learning, finding more effective ways of marketing to buyers, sellers and agents, building business networks, delivering great service and being more than just an agent. We have so much to be thankful for in this country where owning property is a great privilege for most. Helping someone find a new home or selling there’s so that they may start a new chapter in their lives is what I love doing …….. Thank you for taking the time to read my blog, may you have a fantastic Festive Season filled with love, warmth and happiness and may 2012 be THE year, for you, your family, loved ones as well as your business.

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Local Service Directory

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One of the projects I am busy with is a Service Directory on two of my property websites www.krugersdorprealestate and www.roodepoortrealestate.co.za

I am building up a directory of services offered by local business in the local community on a Property Website that also only carries properties listed in that area, Krugersdorp and Roodepoort. The idea is for home buyers and sellers to use the directory for any service they might need in the area such as schools, medical centres, emergency numbers, council contact details, electricians, plumbers etc. I also want to use this directory as a referral base for my own clients who have just bought ion the area.

It is still very new but it will grow over time ….. go have a look. To advertise your business here, please contact me or just send a mail to mcsmaximark@vodmail.co.za

KDP Real Estate

RDP Real Estate

Costs when buying a Property

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Q: Except for the bond repayment, insurance etc, what will it cost me to buy a property.

A: When buying a property, that property and the bond on the property ( there is a bond) needs to be registered. The registration (Property Transfer) is a legal process, done by an Attorney (Conveyancer) at a Legal Firm and that costs money. The two Registrations can be done by the same Firm but because most banks appoint their own Attorneys for the Bond it is more often than not two separate Firms.  Attorney Firms have clear guidelines as to the amounts they may charge for these Transfers. The price of the Property as well as the Bond amount play a big role.

For example, a R 1 000 000 property with a bond of R 900 000 will generate costs as follows:

1. Property Transfer = +/- R 28 800 of which +/- R 13 000 (Excl. VAT) goes to the Attorney Firm,
R 12 000 goes to SARS as Transfer Duty (only payable on transactions higher than R 600 000).

2. Bond Registration = +/- R 16 500 (maximum of R 5000 initiation fee included)
of which +/- R 8 600 (Excl. VAT) goes to the Attorney Firm.

So to Register this transaction you will need +/- R 45 300
including your deposit of 10% (R 100 000) you are looking at close to R 150 000.00

The above costs are not financed by the banks any more except for some cases where staff get special deals and can sometimes be financed by personal loans depending on the amount.

For more details and a comprehensive Cost Calculator click on the link below.

COST CALCULATIONS

Pricing Right

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Q: How can I make sure that I don’t “over” or “under” price my property. I want to sell for as much as possible!

A: Well firstly, you are not alone in wanting as much for your property as possible, but what is realistically possible? The value of your property is directly linked to factors such as area, specifications and condition …. many other factors also play a role such as a buyers personal taste but we can’t take that into consideration. We do however know that most buyers see aspects such as a busy street or staying on the boundary of a complex as negative.

Taking all of the factors into consideration, the Banks for instance, in granting a Bond to a buyer also look at resent sales in the area. Although they do not always know the condition of the property that has recently sold, it gives them an idea of the value in the specific area. Pricing your property too high and getting an offer might result in the Bank not finding value to grant a bond and then it is back to square one.

Valuations are more accurate when it comes to Cluster or Townhouse developments as most of the units are very similar in size and finishings. After all of this, any decent agent, specialising in your area and type of property should be able to give you an honest valuation on Marketing and expected Selling price. We also know most buyers assume that all Sellers are negotiable but this is not always the case and pricing your property right could mean that you are more likely to get a full offer.

There are many systems and stats to aid agents with valuations but the best valuation comes from personal experience!

Some agents will try to value your property high with the hope of getting a mandate and then over time, work the price down. Other agents will value very low hoping for a very quick sale

Somewhere in the middle, between these two, is a value that is still a good buy for a Buyer but also a good deal for the Seller.