Buying property via SMS, email: the legal picture
RealEstateWeb - South Africa
Legal expert explains when email, MMS and SMS messages are legally binding - and why this is not the case with bricks-and-mortar
Question: In this high-tech era, is it possible to take an offer to purchase for a property via SMS or email?
Elizabeth McCaul, director in property and conveyancing at Deneys Reitz attorneys, answers the Realestateweb visitor's question.
Sole mandates belong to agency not agent
Rodney Hayter.com - South Africa
When an estate agent tries to secure a sole mandate for the property, sellers should establish if he, or she, has any intention of leaving that agency because if the agent does move before selling the property he is not, by law, allowed to take the sole mandate with him - it remains with his agency.
It is, therefore, imperative to check out the agent's future plans for employment.
Property values to turn from April
Property24.com - South Africa
Although a full-scale recovery is not on the cards yet, price falls are set to end and property values will begin to appreciate from April onwards.
This is predicted by Johannes Barnard, executive sales manager for ASLO Holdings, who adds that as sellers see prices improving they will be tempted to hold back their properties until the market reaches a new peak
Barnard has on several occasions said that the current very negative perception of residential property's prospects is without any logical foundation. Property, he believes, should be an integral part of any balanced portfolio because it has a proven ability to withstand fluctuations better than other asset classes and to give satisfactory returns in the medium to long-term.