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23 June 2016

Get the most for your home without starting a bidding war
Harcourts - South Africa
In many property markets there is currently strong demand and a shortage of suitable listings. The “supply and demand” principle drives all markets – and the present status is good for property sellers. This often creates an environment conducive for competition amongst buyers which translates into buyers offering the maximum. Competition is healthy, and it gets a seller what they deserve – the highest offer in the market on the day.

Having said that, the way in which estate agents conduct the bidding for a property has a significant impact on the experience for buyer and seller alike.

Make no mistake: the job of an estate agent is to get a seller the maximum for their property. That’s what they’re paid for, and if they in any way acted against the seller that would be a breach of their mandate and the Estate Agents Code of Conduct.
Don't start a bidding war

Revenue systems to be off-line
Ethekwini Municipality - South Africa
Please be advised that our systems will be off-line until further notice, due to the migration of our accounts to the new system. We are not in a position to state the period of time during which our systems will be offline. We however anticipate that it will be between two to three weeks. We are unfortunately unable to give any assurances when our systems will be back online. We will keep you updated accordingly with periodic notifications.
Revenue systems to be off-line

Working group to tackle failed housing transactions
Financial Reporter - UK
The Conveyancing Association has established a Working Group to deliver its response to a Department for Business Innovation and Skills ‘Call for evidence’, which aims to cut down on the thousands of failed transactions that take place each year.

The CA believes the Government department will be seeking information on how they can increase transparency and certainty between all parties, cut down on unnecessary delays and costs, and to provide a smoother conveyancing process by providing more information to potential purchasers up-front.
Financial Reporter

Higher rentals usually translate into higher value growth in suburbs
IolProperty - South Africa
Where rentals go, property prices will usually follow, according to David Jacobs, northern region and KZN manager for the Rawson Property Group. He says that property investors who focus on areas where constant demand results in higher-than-average rental increases each year can usually look forward to strong capital growth as well.

"In Gauteng, for example, there are quite a number of areas where the annual rental increase has been 8 to 10 percent over the past few years - in contrast to the national average of 5 to 6 percent - thanks to a perennial excess of tenant demand over supply.

"Such areas include those close to the Gautrain stations and to major transport routes, as well as others close to a cluster of good schools or a major employment node, and some that are sought-after because they have good security and low crime rates."

And in every instance, he says, home values in these areas have also been rising at a faster-than-average rate.
IolProperty

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