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South Africa Property Market

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While selling a real estate, it is important to value the rate of the property carefully. Over valuation can adversely contribute in keeping the potential buyers at bay due to high prices.



Selling a property is as difficult as buying one. The only difference is that while buying a real estate the buyer needs to closely scrutinize the legal formalities attached to the respective property, whereas in the process of selling, the seller is in search of a potential investor or buyer who will take the property at the maximum possible rate.

There are times when people sell their homes or offices in order to get a real estate in some other location. It has also been noticed that people prefer to sell their properties due to some financial problems that they might be facing.

Plan Before You Sell Your Property

Selling a property needs a full-fledged plan to be followed so that the seller can make his/ her property available for sale at the best prices. The first thing that has to be considered wisely is the fixing or repair work required on the real estate that needs to be sold. After getting the weak points of the property properly mended, it is essential as well to ensure that the seller makes the property easily viewed and accessible to the potential buyers. This can be done by allowing the buyers to see and have a close scrutiny of the real estate so that they can get full satisfaction of buying the particular property option.

Making the property open for sale can be done by advertising under the category of ?sale? in leading local newspapers or on the Internet. As the potential buyers will be given the opportunity of selecting the best and most effective property option, the chances of attracting a large number of interested investors will increase as well.

For advertising the property available for sale, it is crucial that the proper valuation of the particular real estate is done. This can be carried out by taking the services of estate agents. It is always a better option to make the price of the saleable property as real as possible and not to give it a higher value.

Understanding The Selling Procedure

It is a good option to avail the services of an estate agent in order to sell your real estate to the best potential buyer. If you decide to carry out the selling procedure by your own, then there are a few points that should be kept in mind. They are:

1.Considering that whether the interested party is the first time buyer

2.The buyer is paying the amount in full cash or taking a loan

3.Wants to lodge in the property just after the finalizing the deal

These points, if considered properly, will contribute in letting the sellers make a lucrative deal. The seller should always keep in mind that his or her real estate should be sold without following any kind of discrimination against the potential buyer. The different types of discrimination that are against the law of the nature of selling property include:

?Disability discrimination

?Sex discrimination

?Religious discrimination

?Race discrimination

Last but not the least, the exchange of contracts should be done with proper help of the solicitor in order to fulfill all the legal formalities needed to sell a property. The interested sellers can also search for the potential buyers or the present rate of the real estate with the help of the World Wide Web. Latest articles and news are offered to the potential sellers as well as the buyers.
South Africa Property Market
A major Bulgarian property developer reported yesterday that its pretax profits stood at ?38,000, a marked increase from last year's ?273,000 loss, prompting some commentators to exalt the investment potential of the eastern European state.

However, Stuart Law, managing director of Assetz, claimed that the good news for Bulgarian Property Developments is only a snapshot of the market as a whole and does not mean that private investors' finances will mirror that of local development firms.

In response to the announcement of the Bulgarian firm's profits, David Smith, sales director of Bulgarian Dreams, said that he was expecting properties to grow in value by about ten to 15 per cent a year.

Despite admitting that "there are a lot of exaggerated comments out there" he said that a "realistic" prediction would be for prices to double within the next five to six years.

But Mr Law is convinced that there is too much hyperbole surrounding property in the former communist country.

"There have been massive amounts of misinformation because people have thought they were dealing with investment advisors when they're actually dealing with estate agents," he warned.

The property investment specialist put local developers' profits down to artificially low land prices and the lack of bank finance in the country, both factors that would not help private investors to make similar gains.

Mr Law continued: "Price rises in Bulgaria had slowed to just 1.5 per cent in the second quarter of this year and on October 23rd the third quarter figures are out, and if we saw another very low or negative figure we'd definitely expect it to be at least a year before prices stabilise."

As with many emerging markets, prices in Bulgaria can be volatile. Although there are gains to be made in the short-term, the long-term future is often very difficult to determine. For example, Bansko was cited as a property hotspot last year but in the second three months of 2006, prices in the region dropped by two per cent.

Mr Law said that while "one or two locations" might increase by 30 per cent a year, these areas would not be "in the back of nowhere" and represent dream low-cost investments. He advised that long-term gains were more likely to be seen in Warsaw and in the more mature markets of Germany and central London.

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