Find Your Dream Home with Affordable Home Loans!

Whether you are a first time buyer or you are seeking to purchase an additional property, Mortgage Plus Home Loans offers the most effective way to purchase your dream home. Buying a house is one of the biggest decisions that you could ever make in your lifetime, and for many potential homeowners, it can also be one of the most stressful decisions.

With so many factors to consider, and so many different loan companies to choose from, it can be daunting to know which offer will give you the best level of interest, with the best terms. Knowing what to look for in a loan provider will ensure that you can begin taking those crucial steps towards purchasing your new home, safe in the knowledge that you have found the most reliable home financing options.

Some of benefits of Mortgage Plus Bond Originators is that can be enjoyed consist of the following:

• Flexible terms to allow you to easily manage your home financing
• Interest rates that will not break the bank
• A smart and simple way to finance your dream home
• The ability to pay for any remodelling or renovations that may be required
• Afford the home you have always dreamt of owning

Interested to learn more about how you can find home financing in South Africa? Simply complete the form below to have a customer service representative get back to you within 24 hours!

Please contact us if you require any further information or would like to apply for finance:

Complete this short form online

011.327.4489 / 0861 1111 93

morne@mortgagepluscc.co.za

www.mortgagepluscc.co.za

Many property buyers and investors are increasingly using the auction route looking to uncover the next great deal.

For newbies to the auction circuit, there are a few common practices you’ll want to keep top of mind before raising your bidder’s paddle in the air, says Rob Whiteley.

1. Do your homework. Arm yourself with as much information on the property you are interested in before you arrive at the auction. Most auctioneers provide a bidder’s pack that contains essential information about the property (SG diagram, rates and taxes, levies, zoning, etc.) as well as the Offer to Purchase. Some simple online research prior to the auction can also assist in finding out some fundamental facts before you invest your time and money.

2. View the property. Just as in traditional real estate sales, auction companies usually give prospective buyers a chance to inspect the property going on auction. These inspections are usually arranged by appointment or at specific scheduled times (like an estate agent’s show day) designated by the auction company. This is an excellent opportunity to find out all the finer details you need to know before bidding.

3. Remember the “voetstoots” clause. You are agreeing to purchase a property with whatever defects it has at the time of sale, in the location stated in the offer. Unless there is something specifically defined in the offer, the “voetstoots” clause means that the seller is not responsible for any damages or repairs the property may need. This could be as simple as a broken door handle requiring a new lock and mechanism, or as huge as a cracked swimming pool – requiring a total re-build. Know what you’re getting into before you get into it. Also, especially with bank repossessed property, the buyer has to take care of (pay for) the necessary electrical compliance certificate.

4. Make sure your finance is in place. The majority of real estate auction Offers to Purchase have no “bond clause” that is, a clause making the offer subject to the purchaser obtaining a bond to fund the balance of the purchase price. It is therefore crucial for a prospective auction buyer to be positive of their ability to fund the purchase price (and don’t forget the auctioneer’s commission) from whatever financial means necessary. You can raise a bond on auction property, but if this falls through after you are declared the successful bidder, the seller and the auctioneer are probably going to exercise their rights to some compensation from you for a lost deal. In short, you must decide on the highest price you are willing to pay for the property in question – and add on some extra for additional fees. Have your funds in order and waiting in the wings by the time you go to the auction.

5. Prove who you are. It has always been an auction requisite that any prospective bidder should show their bar-coded ID before they are allowed to register at an auction. Since the Financial Intelligence Centre Act 38 of 2001 (FICA) came in some years ago, auctioneers are also obliged to ask for proof of residence (in the form of a utilities bill, etc.) and, in the case of property purchased in the name of a company or trust, a resolution by the members, directors or trustees giving power to the bidder to sign the offer on their behalf.

6. Put emotions aside when you bid. Most people have mentally “moved into the property” on auction by the time they get to the bidding process or have started counting the cash that their “tenant” is depositing into their bank account. Whatever your expectations, come prepared with a price you can afford and don’t go over it. Remember, real estate auction sales are final.

The bottom line is that you can buy property for exceptionally good value at real estate auctions. As a prospective buyer – do your homework beforehand; be sure of what you can afford at the time of auction; and keep a cool head when bidding. Many a first-time home buyer or investor has walked away from an auction with a “great deal”. Happy bidding!

Please contact us if you require any further information or would like to apply for finance:

Complete this short form online

011.327.4489 / 0861 1111 93

morne@mortgagepluscc.co.za

www.mortgagepluscc.co.za