Roodepoort

Fixtures and Fittings

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Fixtures and Fittings ….

Every Offer To Purchase (‘OTP’) has / should have a specific clause where the Purchaser and Seller agrees on which fixtures and fittings to be included or excluded as part of the Sale Agreement. This is done by mutual agreement on presentation of the OTP. Once the OTP is signed by all parties involved it becomes very difficult to change any clauses or conditions and must therefore be done prior to acceptance. Sellers should, as part of the Mandate Agreement be advised by their agents to specify any inclusions or exclusions of fixtures and fittings in the mandate agreement so that prospective purchasers can be informed accordingly when viewing the property.

To make this process easier, our OTP includes the following items as standard fixtures and fittings thatMAY NOT be removed unless otherwise specified in writing. The specific clause reads as follows ….

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“The Property is sold with all fixtures and fittings of a permanent nature, which the Seller warrants are fully paid for, and owned solely by the Seller, including all existing garden trees / shrubs / plants, stove, electrical light fittings / shades and (if any) curtain rails / rods / pelmets / blinds, swimming pool equipment / filters / motors, fitted carpets, fitted kitchen storage units, post box, electrical geyser(s), TV aerial, DSTV satellite dish, burglar alarm system, door-bell / knocker, keys and remotes. All electrical items are to be in working order on date of occupation. The purchaser is aware that the radio transmitter connected to the alarm system (if applicable) is the property of …………………………………………Security Company”, where the radio transmitter is therefore excluded.

The OTP also gives the Seller / Purchaser the opportunity to specify any inclusions / exclusions to this clause. Inclusions would be any NON-fixtures that will be sold with the property. Exclusions would be any fixtures that will be removed are not sold with the property. Apart from the items mentioned in the clause above, fixtures and fittings in general can be understood as being as the following:

Any items that form part of the permanent structure of the property such as built-in cupboards and vanities, mirrors, towel and curtain rails, blinds, shutters, light fittings & switches, light bulbs, security systems, built-in heaters, fans and air conditioning systems, gate / garage door motors & automated systems or anything that is bolted, nailed or screwed onto the property can be seen as fixtures. If, for example, there are bathroom cupboards hanging on the walls of the bathroom with towel rails attached to the cupboards, Purchasers viewing the property could assume that these cupboards and rails are fixtures as they won’t know if the cupboards are bolted to the wall or hanging on screws / nails like portraits / paintings. Sellers might think that these are non-fixtures and remove them causing huge frustration and unhappiness when the new owners take occupation.

According to our OTP the complete DSTV dish or any other antennas / dishes, brackets and cables are also seen as fixtures and therefore, unless excluded, are sold with the property. As previously mentioned, the Seller should exclude all of these items during the listing and mandate process and prior to signing any OTP in order to avoid unnecessary unhappiness and disappointment later on.

Should any items, deemed to be fixtures, be excluded, the purchaser may request that it be replaced by the Seller with a suitable alternative / replacement item. Take the DSTV dish for example: If the Seller has a very expensive, multifunctional DSTV dish and “LNB” combination and he / she would not like to sell it with the property, it should be excluded in writing and replaced with a suitable replacement / alternative system if necessary. The Purchasers may also request that should any fixtures be removed from the walls of the property where it was bolted onto the walls, that the holes be filled and the walls painted, or not, depending on what has been agreed. Purchasers may also decide to include certain items that are non-fixtures such as loose standing cupboards, pot plants, curtains etc. which the Purchasers may or may not agree to.

All the above should be negotiated and written into the OTP prior to finalizing and signing of the OTP to avoid any future misunderstanding.

We hope that you find the information useful. Happy selling. If you need any assistance with the sale of your property in the Roodepoort, Gauteng area, please do not hesitate to contact us:

Marnus Steyn: 072 264 7806 / marnus@steynrealty.co.za

Juanita Steyn: 083 604 1231 / juanita@steynrealty.co.za

To view all out available stock, please visit our website at www.steynrealty.co.za

You can also like and follow us on Instagram, Twitter and Facebook at @steynrealty

Rental Management

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In between all the selling, we (Steyn Realty) also offer Rental Management Services to our Investor clients and Landlords. These services are offered through the TPN RentBook and Credit Bureau systems and include but are not limited to the following:

  1. Listing, advertising and marketing the property at no additional cost to the Landlord / Owner.
  2. Setting up viewings with prospective tenants.
  3. Application screening.
  4. Credit vetting through Trans Union ITC, Experian and the TPN Credit Bureau.
  5. Explaining, negotiating and completing the TPN Lease Agreement.
  6. Monthly invoices / statements to tenants.
  7. Capturing of payments on the TPN RentBook system.
  8. Reconciling accounts on a monthly basis.
  9. Sms notifications / reminders on outstanding payments.
  10. Payment of monthly expenses on behalf of the Landlord like levies etc.
  11. Owner / Landlord Statements & reports.
  12. Tax Statements on properties.
  13. Management of general maintenance issues as they arise.
  14. Periodic visits and inspections as agreed with the Landlord and the Tenant.
  15. Facilitating maintenance work to be done as and when necessary.

Most of the properties that we currently manage are either in complexes or estates where we then pay the respective levies to the managing agents on behalf of the landlords. We also make payments to the council and to contractors where applicable. Tenants are charged for their water & electricity consumption and in some cases also for security, sewerage, rates & taxes etc. depending on what has been agreed to in the lease agreement.

We don’t charge any upfront commission for the management of a property or the tenant. Our management fees are 7% of the monthly rental with a once off placement & renewal fee.

For any queries regarding our rental services, please email rentals@steynrealty.co.za or contact Marnus on 072 264 7806 / Juanita on 083 604 1231.

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Property Stock Update

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Below is a list of some of our stock that we have available To Let or FOR SALE at the moment …. we need lots more.

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We always need new stock for our buyers. We get lots of requests for Rental and Sales properties in the Roodepoort areas, anything from Pinehaven to the 14th Avenue off-ramp.

If you are selling, let us know. If you are looking for a tenant, let us know …. if you want someone to take over and manage your rental portfolio, let us know.

We can help …. Marnus 072 264 7806 / Juanita 083 604 1231

http://www.steynrealty.co.za

Stock – Some of our latest listings …

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We focus predominantly on property sales and rentals in areas from Sterkfontein / Pinehaven side, along Hendrik Potgieter towards Clearwater Mall and Wilgeheuwel Hospital.

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what we do …. @steynrealty

We have recently sold some of our stock and we urgently need new rental and sales stock for our buyers. Here are some of our current stock:

For Sale:

  1. Windsor West – R 690 000 – CLICK HERE
  2. Wilgeheuwel – R 899 000 – CLICK HERE
  3. Wilgeheuwel – R 935 000 – CLICK HERE
  4. Wilgeheuwel – R 950 000 – CLICK HERE
  5. Wilgeheuwel – R 1 125 000 – CLICK HERE
  6. Allen’s Nek – R 1 500 000 – CLICK HERE
  7. Little Falls – R 1 599 000 – CLICK HERE – House
  8. Wilgeheuwel – R 1 645 000 – CLICK HERE – House
  9. Honeyhill – R 1 700 000 – CLICK HERE – House
  10. Ruimsig – Smallholding – R 4 650 000 – CLICK HERE

To Let:

Our rentals are done through the TPN Rentbook system and all our applications are subject to a full credit approval process, employment verification and affordability screening. All of our properties are currently occupied but we get new stock in on a monthly basis. If you are not happy with way your rental portfolio is managed, we can also take it over.

Here is one 3 bedroom and one 2 bedroom unit we have available from 1 May …

  1. Wilgeheuwel – R 5500pm – CLICK HERE
  2. Wilgeheuwel – R 9 250pm – CLICK HERE

For more details on any of our services, please call, whatsapp, sms, email, tweet, facebook message …. we will get back to you.

Hope you have a great weekend.

M&J  …… http://www.steynrealty.co.za …… @steynrealty

First Impressions

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“Don’t judge a book by its cover” ….. when it comes to Real Estate, Sellers can easily lose out on a potential buyer just because the “cover” of their “book” has been neglected.

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Unless a buyer is looking for a “fixer-upper” or maybe something he/she can get for a very good price (below market value) to fix up and then “flip” or use as a long-term rental, FIRST IMPRESSIONS are extremely important when selling property. Together with the aesthetic appeal of the property, price, location and general condition are probably the most important factors that buyers are look at.

FIRST IMPRESSIONS include everything a buyer will see at first glance when viewing a property. Many small things are sometimes overlooked by sellers / homeowners because they see the property every day. It doesn’t matter how big or how small the property is, if the property looks neglected from the outside, buyers WILL judge the book by its cover and assume the same goes for the inside …. this will also alert buyers that there may be other hidden problems / maintenance issues not clearly visible when viewing the property.

Even the photos that agents take for advertising purposes can have an influence and can either be to the sellers’ advantage or detriment. If you are currently selling your property through an agency, do yourself a favour and go have a look at the listing online. Look at the photos and read the description ….. you might be pleasantly surprised or shocked!

Before we sell a car, before we take it to a second-hand dealership to get a valuation or to trade it in on a new car, what do we do …… we take it for a wash or maybe even a full valet. We touch-up little scratch marks and polish the paint. Sometimes we buy new tyres, pray air freshener in the car etc. Why don’t sellers do the same with their properties? It will obviously cost a little more to repaint and to do minor maintenance but dressing up, fixing up and “de-cluttering” your house before putting on the market will definitely help to sell it faster and maybe even at a higher price. Here are a couple of things that we see every day that is a big let-down for property buyers:

  1. Uncut pavements, long grass, gardens with overgrown bushes and flower beds.
  2. Boundary walls falling apart, falling over, loose bricks, cracked / broken walls with large damp sections and paint that is flaking.
  3. Driveways with grass & weeds growing through the paving or cracks in the cement.
  4. Steel / wooden gates, doors & garage doors that are weathered, rotten, rusted, cracked and in need of attention or replacement.
  5. If you recently fixed some cracks on the outer (or inner) walls of your house, make sure you paint with the same colour / shade of paint than the rest of the wall, otherwise its better to paint the whole wall.
  6. Water marks / stains anywhere on a property is extremely negative, even if the geyser burst a year ago and left a little watermark on the ceiling which you forgot to paint, buyers will not believe you and think there is a problem.
  7. Gutters, down-pipes, plumbing pipes, fascia boards in need of repair or painting looks really bad. In sectional title complexes this will make the buyers think that the Body Corporate is in financial trouble or that the complex is not well-managed … a very big negative for buyers.
  8. Old carpets, bad odors, damaged cupboards, wooden floors that are lifting, chipped walls and any cupboard, window or door that doesn’t close properly are big turn-offs.
  9. Pools that are green any time of the year is a sure sign that there are problems.

The general condition of the property can go a long way assist with securing on acceptable offer. Your agent should also be able to assist you in pointing out the main issues that will need attention. Don’t sell yourself short ….. happy selling!

Welcome to 2017

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Welcome to 2017

…. not sure about you but 2016 was not a particularly good year for the Real Estate industry in SA. We saw the Prime Lending Rate go from 9.75% to 10.5% in the first half of the year. This, together with a couple of very negative and concerning economical and political movements put a bit of a damper on the market with most agents I spoke to reporting a drop in sales for the year.

Enough of 2016 and enough negativity over that market, the macroeconomical situation of the country and the dreaded word ….. “Politics” … blah blah blah … we have work to do and properties to market and sell.

2017 is here and we are going to “hook it” …. we are going to “hook it real good”. Stock in the Real Estate market is and always will be king! There are buyers for well priced properties. Although there are many factors that play a role like area (location), condition and specifications ….. “PRICE” will be the determining factor. If you price right, you will sell.

STEYN REALTY is serious about delivering an exceptional service to out clients being Property SELLERS, BUYERS, LANDLORDS & TENANTS. We have the experience, knowledge, marketing expertise, professional attitude and the drive to assist our clients with any Real Estate related query or assistance they might have. Where we can’t assist we will try to point you in the right direction. We have a list of professional and capable bond originators, attorneys, electricians, plumbers etc who we refer to our clients on a regular basis.

Buying or Selling Property is serious business and you need to team up with an Estate Agency who is just as serious about what they do. STEYN REALTY would love to assist you, no matter how big or small your property …. we do it all. We can also manage your rental portfolio, find, screen and place tenants on an ongoing basis.

If you are looking to Buy, Sell or Let-Out a property anywhere in the Roodepoort / Krugersdorp area or you know of someone who is struggling to sell please give us a call.

Marnus Steyn / 072 264 7806 / marnus@steynrealty.co.za / http://www.steynrealty.co.za
Juanita Steyn / 083 604 1231 / juanita@steynrealty.co.za / http://www.steynrealty.co.za

 

 

Fortune favours the brave ….

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Here’s a mind-twister for a Monday ….. I believe that fortune favours the brave so …..

If properties in South Africa sell within 12 weeks of being listed, on average, why hang on to stock where sellers are not prepared to list with me at my valuation amount or even close to it. Why list your property (knowingly) at inflated values in the first place and then hope that buyers will come and make offers.

In the current market segment where we are selling (mostly R 500 000 to R 2 000 000) while taking into account the current market conditions and economic possition of the country, only the well priced properties are selling and shouldn’t take more than 6 to 12 weeks to get offers. I think it’s time that agents change their offering and sellers need to be aware of agents over-inflating property prices in order to secure mandates. Sellers are contracted to long-term mandates of 6 months (and more) which in my view borders on unethical conduct on behalf the agent and also point toward a very uninformed and stubborn (“not serious”) seller. 

As a SELLER (keep the following in mind):

1. Price your property right to sell

2. Choose your agent carefully

3. Discuss a well thought out marekting plan

4. Sign a mandate (mutual commitment)

5. Demand feedback and progress reporting.

As a result of the above, our offering will in future change to a maximum sole mandate term of 10 weeks at our recomended “Listing” price (Only) and will include all the bells and whistles of online and social media marketing / advertising, show days etc. If we can’t sell it within that time with the various marketing strategies we have in place, then we believe that no one will be able to.


To get your property LISTED and SOLD, call:

Marnus Steyn 072 264 7806 / marnus@steynrealty.co.za

Juanita Steyn 083 604 1231 / juanita@steynrealty.co.za 

#Roodepoort #Westrand #Wilgeheuwel #Radiokop #Strubensvalley #LittleFalls #AllensNek #HoneydewManor #Ruimsig etc etc 

CALL US NOW

Seller Information

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SELL THROUGH STEYN REALTY

I recently posted this article on our website in an attempt to notify sellers and future property sellers as to the potential pitfalls / costs when selling.

Just in the case of purchasers who need to do their homework before buying, making sure they are credit worthy and what they can afford, Sellers also need to do their homework ….

While touching on a couple of other issues, the article aims to outline most of the potential costs that Sellers may be responsible for during the sales and registration (transfer) processes. It covers the following:

  1. Avoiding Penalty Interest
  2. Bond Cancellation Costs
  3. Compliance Certificates
  4. General Condition of the Property and
  5. Nomination of the Transferring Attorney Firm.

You can read the article by clicking on the link below.

CLICK HERE

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For any sales or rental related queries or to get your property listed in the Roodepoort, Ruimsig, Wilgeheuwel, Little Falls, Constantia Kloof and surrounds …. please contact!

Marnus Steyn – 0722647806 / marnus@steynrealty.co.za

Juanita Steyn – 0836041231 / juanita@steynrealty.co.za

http://www.steynrealty.co.za

 

Where is TIME going …?

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August 2016 …. 5 months into our own business and more than 11 years in the Real Estate Industry and here we are …. still going “strong”.

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During the last 5 months we have done a fair amount of transactions ranging from R 2 000 000 to R 500 000 but we need more, much more. We pride ourselves on being pro-active when it comes to marketing and advertising of our stock, technology and the quality of our service, feedback, knowledge and professionalism.

Buying or Selling property is a massive decision and we take it very seriously. We have the necessary knowledge and experience in selling residential homes / clusters as well as sectional title townhouses and apartments to make sure that our clients are in good hands and get the right advice. We also offer rental procurement and management services where we offer a complete service through the TPN Rentbook and TPN Credit Bureau systems.

We get enquiries for sales and rental stock on a daily basis and we need more stock to show our buyers and tenants.

If you are at all looking to SELL or LET OUT your property, please give us a call or an email so we can assist. We cover quite a large area from Pinehaven in the West all the way along Hendrik Potgieter up to the Wilgeheuwel Hospital area in Radiokop. We are also looking for properties in Helderkruin, Kloofendal, Constantia Kloof and Weltevreden Park.

We can be contacted as follows:

Marnus: 072 264 7806 / marnus@steynrealty.co.za
Juanita: 083 604 1231 / juanita@steynrealty.co.za
Our website is: http://www.steynrealty.co.za
We are also quite busy on social media where you are welcome to follow our tips / hints / latest stock and industry related news updates and info ….

For our Facebook page ……. Click here
For our Twitter feed ……. Click Here
You can even follow us on Instagram ….. @steynrealty

We would also love to hear your views and thoughts on the SA Real Estate industry so please interact and give us you opinion.

\WE CAN HELP

 

SA Interest Rate and how it will affect buyers and sellers

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THE SOUTH African Reserve Bank, during the recently held Monetary Policy Committee meeting (MPC) announced an increase in the interest rate of 50 basis points. This also meant an increase in the Prime Lending Rate from 9.75% to 10.25% – which means you will now have to fork out even more.

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As a homeowner, this suggest that you will now pay around R330 more per month for every R1 000 000 you owe the bank on a normal 20 year bond repayment period.

Many economists are, however, predicting that the interest rate will see a further increase by up to an additional 100 to 125 basis points towards the end of the year. This will raise the prime lending rate to from 10.25% to 11.50%.

What this will mean is that on a R1 000 000 bond taken over 20 years at a rate of 11.25% your repayment will be R 10 492.56 compared to a repayment of R 9 485.17 at a rate of 9.75%. With this forecast in mind, many homeowners could possibly decide to sell and downgrade.

The “theme” for this year will aptly be known as AFFORDABILITY and many articles have since been published warning the public not to incur additional debt if at all possible this year. Homeowners feeling the pinch of their bond repayments will have to cut down on unnecessary spending and luxuries in order to absorb these increases.

Many homeowners will decide to downgrade by selling and renting or buying something more affordable. Some investors feeling the pressure of multiple bonds and additional exposure might also decide to re-look at their portfolios and possibly sell-off some property.

This will mean an increase in property in the lower to medium price brackets as well as an increase in the demand for rental and affordable properties. Some investors, not affected by these rate hikes, will be keeping a close eye on the market and try to pick up some good deals. They normally have some cash and as long as the rental income makes sense, they will look at it.

Sellers need to make sure that they don’t fall into the trap of overpricing their properties. They need to make sure that they do their homework thoroughly and then enter the market at the right price bracket so that they can attract buyers. By making use of estate agents, which are specialists in the area where you are selling, you can easily get a couple of valuations and then get an opportunity to assess the situation from there. Don’t just go for the agent with the highest price as this could take too long to sell.

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Well priced, neat and well looked after properties will be seen as good value for money; they will attract more buyers and also sell much quicker. These properties that are overpriced and neglected will struggle to sell at the asking price and will have to drop in price eventually in order to sell. Having said that, I truly believe that every house has a buyer, as long as the price is right.

Currently there are property shortages in many price brackets which mean that sellers can possibly get a bit more for their properties as they have more negotiating power due to an undersupply. As more stock comes into the market, property prices will stabilize and qualified buyers will get more of an upper hand when negotiating on the purchase price.

Buyers also need to do their homework and find out what their credit scoring is and for how much they can qualify. Over and above that, they need to be clear on what they can afford taking all the costs and additional expenses of owning and maintaining a property into consideration. Many bond originators offer a service where they can, very accurately, assist buyers to check their credit scoring, affordability and determine what they will qualify for.

By keeping an open mind, speaking to the right people and getting advice and as much information as possible, you can make sure that you are ready for whatever the market brings. Owning property is still a fantastic investment with great advantages.

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For any assistance buying or selling property in Roodepoort and surrounding areas, please call Marnus on 072 264 7806 or email marnus@steynrealty.co.za

http://www.steynrealty.co.za