Latest Posts

New cannabis bill could see construction taking the high road

The proposed amendments to the Cannabis for Private Purposes bill that seeks to further decriminalise cannabis usage and legalise South…

Read More..

Luxury vs ultra-luxury – What’s the difference?

BESPOKE LIFESTYLE: There are a number of key factors that distinguish ultra-luxury homes form the rest, not least that they’re…

Read More..

Creating sustainable growth and reducing poverty through structural transformation

Urban development domains ACRC’s analytical framework uses the concept of urban development domains to transcend both sectoral and traditional systems-based…

Read More..

A root cause of flooding in Accra: developers clogging up the city’s wetlands

Christopher Gordon, University of Ghana Ghana has six designated Ramsar sites. These are wetlands designated under the criteria of the…

Read More..

Nigerian property crime could be reduced if neighbourhoods were better designed

Adewumi Badiora, Olabisi Onabanjo University Nigeria has a very high crime rate. The Global Peace Index ranked it the world’s…

Read More..

Inner cities are growth engines attracting young homebuyers

Inner city living is boosting the city residential property market and driving urban rejuvenation Inner cities. Love them or hate…

Read More..

Kenya’s push for affordable housing is creating opportunities despite barriers

Raphael M. Kieti, University of Nairobi; Robert W. Rukwaro, University of Nairobi, and Washington H.A. Olima, University of Nairobi In…

Read More..

Heron IVC: Walking the green talk

Waterfall is closing the loop on waste Waterfall prioritises sustainability and responsible environmental stewardship as a strategic imperative, keeping the…

Read More..

23rd Aug 2022

Architect Africa Online

Africa's Leading Architecture Aggregator

Sellers and landlords: take note of new property regulations

The provisions of the Property Practitioners Act (No 22 of 2019) (PPA) that were published in December last year, are effective from 1 February this year. This law repeals the entire Estate Agency Affairs Act (No 112 of 1976 (EAA Act).

The PPA brings a number of changes to the industry including more consumer protection. This includes the need to disclose defects in both sales and rentals. Although this has been in practice for some time, it is now a legal requirement. The document must be signed by all parties and annexed to the respective sale or lease agreement.

 

Tiaan Pretorius

According to Tiaan Pretorius, manager for Seeff Centurion, sellers should not try to cover or conceal defects because this could land a seller in hot water as they could be sued by the purchaser. However, should a seller fail to disclose a fault that they were unaware of, they would obviously not have been able to declare it, hence it is unlikely to pose a problem for the seller.

The Seeff property group, however, strongly recommends that prospective buyers get a home inspection done to safeguard against any issues down the line.

Patent and latent effects

There are generally two types of defects, namely patent defects which are those that are visible to the naked eye, and latent defects which usually relate to structural issues and are more difficult to spot.

“The property practitioner must undertake a thorough inspection and the seller must point out all defects, regardless of whether they are patent or latent,” says Pretorius.

Patent defects are usually easily identifiable. These would include aspects such as cracks in the walls, sagging gutters, cracked or broken windows, damaged light switches, cracks around the swimming pool, deteriorated woodwork, damaged cupboards, cracking paint work, cracked tiles and damage to carpets, laminate or wooden flooring.

Latent defects include structural issues such as unsteady walls, leaking roofs, faulty geysers and swimming pool pumps, rising damp and so on. These are more difficult to spot, hence our recommendation that the buyer gets an inspection done, says Pretorius.

Call in the home inspection experts

“It’s important to choose a reputable home inspector with the relevant expertise to inspect and discover defects in the property. The cost of the inspection is for the buyer’s account, but this is money well spent,” he says.

“An inspection can ensure that there are no surprises before payments are made. Buyers should be mindful that once the contract is signed it becomes more difficult to act, and it can be more costly if legal action is required. It will also put the buyer in a position to request repairs or negotiate reparations as part of the conditions of sale.”

The post Sellers and landlords: take note of new property regulations appeared first on Everything Property.

Syndicated content from Everything Property



error

If you find this website useful please spread the word.

RSS
Follow by Email
WhatsApp