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6 January 2005

Home, sweet home sale: Wellesley company offers owners protection from title defects
MetroWest Daily News - USA
John Q. Public wants to sell his home and is pleased to have found a buyer. He believes he's going to close the deal on a specific date and has visions of dollar signs dancing in his head.

However, a few days before the closing, the bank's attorney informs Mr. Public that he has three mortgages on his home. Mr. Public begs to differ and says he has only one. But the attorney has the final word, shows him the proof and requests the appropriate information. Which Mr. Public doesn't have. As a result, the deal crumbles and the dollar signs disappear.
MetroWest Daily News

Transfer property
Times of India - India
Often, there is a confusion between the terms sale, transfer, exchange, lease, mortgage, and charge. Many times, these terms are used interchangeably. However, there are distinct differences between these terms.
Times of India

Cape's next big thing
Moneyweb - South Africa
Investors are queuing for quality commercial property, say Cape Town agents. As residential property prices continue to climb, investors are hunting around for blue chip tenants in good areas and buildings.

And, while it is mostly institutional investors who are snapping up non-residential property, there is also growing interest from well-heeled individuals and syndicates. Ian Slot, regional committee chairperson of Seeff, predicts that 2005 should "be a good year" for commercial, retail and industrial space.
Moneyweb

Single-window plan for title deeds
Express - India
After the rewriting of building bylaws, the MCD is now turning to simplify the issue of property rights in the Capital. In the second phase of its urban study, USAID is now looking at how property rights can be introduced in the city.

At the first public meeting on building bylaws, former Lt-Governor Vijai Kapoor had announced that establishing property rights was essential for urban development in the Capital. USAID had, in the course of its brief for the MCD, recommended the rewriting of the building bylaws.
Express

Homenet sees merit in "aggressive" offers
RodneyHayter.com - South Africa
Prospective buyers should not hold back from making "aggressive" offers on homes they consider over-valued, says David Rogers, MD of Homenet, South Africa's biggest estate agency group.

Discussing market trends for 2005 in a media interview this week, Rogers said buyers should be aware that, with few exceptions, sellers used to set asking prices at between five and 10 percent above the actual market value of the property.

"This allowed for healthy negotiation that generally resulted in buyer and seller settling on a mutually satisfactory selling price".
RodneyHayter

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