Occupation Certificate

http://mycapetown.co.za/news/2012/12/homeowner-blocked-by-occupation-certificate/

Nifty compound interest calculator

http://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php#results

Zimbabwe property

Midstar Poperties (Pvt) Ltd Business Category Property Developer & Contractor Cell Number +263775431598 City/town/suburb Harare Email sales@midstarproperties.co.zw Submitted by 41.190.42.193

The benefits of home ownership.

The benefits of home ownership - C.M. Heydenrych (September 2012)

How do individuals benefit from owning the property that they live in? What does home ownership do to a person? The bottom line is that owning a residential property acts as a powerful economic stimulus, benefiting the individual owner and the national economy. Here are some of the specific advantages that are gained by home ownership. But first – the problem.

The problem

The issue that lies at the base of poverty is that the wealth in many economically depressed areas is not in the form of legal titles to property; instead, these are “informal” ownerships not recognized or enforced by the authorities in these areas. (de Soto, 2000) This makes it difficult for the individuals in those areas to benefit from this wealth. One way to unlock this wealth is to ensure that individuals attain proper title to these properties. The benefits of such a process lies on different levels, which will be outlined here.

Individual benefits

Owning property in the form of a house provide individuals substantial economic benefit by helping them to build up substantial personal equity. This equity can be used to make home repairs or additions, to fund the school or university education of their children, or to start a new business.

Home equity is one of the largest sources of collateral for bank loans to start new businesses. It has been found that homeowners are almost three times as likely to own a business as renters.

With the benefit of home ownership one also has the duty to take responsible decisions. This helps people move from being dependent to being self-directed and take the actions that one would expect from citizens that see themselves as being accountable for carrying out their civic duties.

An interesting spin-off of home ownership is revealed in a research based article by the Habitat for Humanity - it is mentioned that the children of homeowners do better in school and are more successful later in life than those children that grow up in rented accommodation.

The direct benefits however are:

1. You cannot easily be evicted from the property since you hold the freehold title to the property. 2. You can then use the property as collateral to obtain study loans or a loan to improve your house. You can even borrow against a home's equity for other reasons such as medical or funeral expenses as well as starting a new business. 3. You can sell the house and realise the full value in cash. 4. You can bequeath the property to your next of kin.

The economy

Property ownership serves as the basis of many other business and economic activities that in the end works positively towards helping the individual to participate in the economy and in so-doing assists in creating a vibrant growing national economy. The housing sector is a big part of the overall national economy, through spending on housing related items, taxation, and other consumer spending by homeowners it contributes to the larger economy. A point that de Soto (2000) makes is that a modern economy can only function where there is secure property rights, efficient utilisation of capital, and transparent financial markets to release the productive potentials of assets and their owners.

The benefits to the community

Home ownership raises property values in that it creates a market for property – properties can be traded when necessary. The biggest result own owning property however is that there is a feeling of pride in ones home and in neighbourhood that one lives. It has been found that owners of homes are also more likely to participate in local organisations, they are more likely to vote, they stay in the neighbourhood for a longer period of time, and they are more satisfied with their home and their neighbourhood than renters. The following research studies are also quoted in the Habitat for Humanity article , and while the may not be completely valid to the South African situation, surely does have some relevance: • Homeowners vote at a substantially higher rate than renters, 69 percent versus 44 percent (Drier 1994). • Homeowners are 15 percent more likely to vote in local elections. • Homeowners are 6 percent more likely to work to solve local problems (DiPasquale and Glaeser 1998). • Homeowners are 12 percent more likely to garden (DiPasquale and Glaeser 1998). • Homeowners report that they attend church more regularly than renters (DiPasquale and Glaeser 1998). • Homeowners give significantly more money to their churches, about $150 more per year, than renters (Rossi and Weber 1996). • On average, homeowners are members of .25 more non-professional organizations than renters • Homeowners are found to be more likely to repair or improve their homes, more likely to maintain a garden outside their home and more likely to report they have worked to solve local problems.

Are there negative impacts of homeownership?

Homeownership is not right for some people. Renting allows people to move around. People don’t have the same kind of freedom when owning a home, but also don’t have the same responsibilities. Homeownership could entail a financial commitment to the upkeep and involves lots of responsibility to ensure that the property is maintained.

Concluding remarks

People that have lived in public housing and rentals sometimes do not even realise that they could have the chance to own a home; the idea is not in their mind. We are trying to work with the Municipalities in order to break the cycle of poverty. Living in a municipal owned house can also be demeaning if the properties are allowed to deteriorate because of a lack of resources. Therefore it is important work with the community to build trust respect and pride and excitement in each other to create the kind of society we want.

. Sources

Habitat for Humanity- New York City: Benefits of Homeownership. www.habitatnyc.org/pdf/Toolkit/homewonership.pdf

De Soto, Hernando. The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else. New York: Basic Books. 2000.

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Anyone into property...

...should also be into property rights. There is a threat looming. Read this summary of Hernando de Soto's book published in 2000. http://www.fff.org/freedom/0201f.asp Add a cellphone number to the cellphone directory here.
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Increasing your property Value

http://www.freearticleforyou.com/Real-Estate/Real-Estate/tips-to-drive-up-your-house-valuation-perth.html Add a cellphone number to the cellphone directory here.
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Land reform

http://www.jacarandafm.com/kagiso/content/en/jacaranda/jacaranda-news?oid=1691837&sn=Detail&pid=399938&Proposals-on-land-reform-needed Add a cellphone number to the cellphone directory here.
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A general source on Sectional Title and Property Transfers

http://www.joburg-archive.co.za/2007/pdfs/property_handbook2.pdf Add a cellphone number to the cellphone directory here.
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EAAB placed under administration.

Yesterday, Minister of Human Settlements, Tokyo Sexwale took a bold step and dissolved the Estate Agents Affairs Board (what was left of it) and placed it under administration. Read more here Add a cellphone number to the cellphone directory here.

The Land issue

http://blogs.cfr.org/campbell/2012/07/19/who-owns-the-land-in-south-africa/

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New on the Market: Roodepoort Area - 2 Bedrooms

Charis Place

SAPOA on Property issues: Land Reform.

http://www.sapropertynews.com/land-reform-debate-fuels-uncertainty/ Add a cellphone number to the cellphone directory here.
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Dissention between the ranks (Rebosa) and the file (IEASA)

http://www.rebosa.co.za/archives/theres-dissention-in-the-ranks.html

NOTIFICATION - AUDITOR REPORT FORM AND RELATED REQUIREMENTS

1 | P a g e 20 June 2012 NOTIFICATION - AUDITOR REPORT FORM AND RELATED REQUIREMENTS The Estate Agency Affairs Board (EAAB) has, in consultation with the Independent Regulatory Board for Auditors (IRBA), introduced a revised auditor’s report which estate agents are required to submit to the EAAB annually, within four months of an estate agent’s financial year-end, in order to be granted their licence to practice. The revised auditor’s report replaces the previous auditor’s report and with effect from 1 September 2011, only, the revised report will be accepted (refer Section 32(4) of the Estate Agency Affairs Act, 112 of 1976) (hereafter referred to as “the Act”). The provisions of Sections 29 and 32 of the Act stating that every estate agent must have accounting records as are necessary to fairly reflect and explain the state of affairs of all moneys received or expended, including monies deposited to the trust account or interest-bearing account, remains in force. These accounting records (of both the business and the trust accounts) must be audited within 4 (four) months of the financial year-end of the estate agent’s business. It is specifically to be noted that the Act draws no distinction whether the estate agent is operated as a sole proprietor, partnership, close corporation or company and the requirements for the audit of the business and trust accounts remain irrespective. Estate agents are alerted to the fact that the report contains additional disclosures required by the EAAB to address legislative requirements affecting trust accounts held by estate agents, that may require additional work by auditors performing such engagements and in this respect, estate agents are required to give their appointed auditor reasonable access to such books and records as the auditor considers necessary, to perform their duties in terms hereof. The Executive Committee of the EAAB has resolved to grant a non-recurring extension of three (3) months for the submission of the auditor’s report relating to the 2012 financial year-end. This effectively allows estate agencies such additional time, as may be required, to ensure the audit of both the business and trust accounts are completed for purposes of the revised auditor’s report. The EAAB reserves the right, at its sole discretion, to institute formal processes relating to any non-compliance with the provisions of the Act.

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2 | P a g e Submission of Auditors’ Reports Before submitting your auditor’s report please ensure the following:  The report is completed in full and signed by the appointed registered auditor, who is registered with the IRBA and has accepted their appointment for the relevant estate agency, as per the EAAB records;  Name of the agency / firm which is registered with the EAAB;  The report reflects the details of all Section 32 accounts held by the agency;  The report indicates the FIC registration number (Registration is a legal requirement in terms of Section 43B of the FIC Act, as an accountable institution. Visit: www.fic.gov.za) The revised auditor’s report is available in both PDF and Word formats and may be downloaded from either: www.eaab.org.za alternatively from www.irba.co.za. Should you have any further queries or experience any technical difficulties in downloading the documents, please do not hesitate to contact the EAAB on: 011 731 5600. Auditor’s Report submission and proof of payment for penalty fees are to be submitted to: audit@eaab.org.za or via fax to: 086 513 7716.

Only the Irish!?

http://www.irishtimes.com/newspaper/property/2012/0614/1224317867177.html No this is an issue the world over. 99% of the problems are sorted out between neighbours. The court is a last option - but PLEEZE keep the Government out of this - do NOT try and regulate with hard and fast stipulations like type of tree, distances and so on. This is what neighbors do - argue about trees - leave them alone. What do you think?

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Irwin Jim on Land

http://business.iafrica.com/news/799934.html

Need Financing?

Look at this ad. http://www.rmb.co.za/PDFs/ourDealsTop05/TheHougton.pdf

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A UK Property Consumer page

http://www.independent.co.uk/life-style/house-and-home/property/comsumer-rights-we-dont-want-to-fix-our-walls-7768517.html

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Land Reform

http://www.eprop.co.za/news/article.aspx?idArticle=14835

Property Rights - A US issue?

http://www.reflector.com/opinion/hood/hood-property-rights-amendment-needed-1001933

The transfer process.

1. The Attorney receives instructions to attend to the transfer (normally from the seller or seller's agent).

2. The attorney then requests the original title deed, original mortgage bond and the cancellation figures from the existing bond holder. The cancellation figure is the amount which the existing bond holder requires to be paid before it will cancel the bond over the property.

3. Requests a statement from the local authority (and/or body corporate/managing agent setting out the rates and taxes payable for a period of approximately three months in advance (the deeds office are lately wanting six months! (is this true - if it is then we should complain/resist since it adds another cost to the system which will make trade more difficult). No transfer can be effected until the Registrar of Deeds is satisfied that the rates and taxes and other charges relating to the property have been paid up to the date of transfer.

4. Obtain the relevant information from the purchaser regarding where the bond has been granted.

5. Obtain payment of the deposit in terms of the agreement of sale (if applicable).

6. Once the Purchaser's bond has been granted, one then has to request guarantees from the Attorneys who are attending to the registration of the bond and draw the transfer documents. The guarantees are letters from the financial institution concerned guaranteeing that payment of certain monies will be made on registration of the property. One of the guarantees is utilised to guarantee the payment to the existing bond holder in respect of the cancellation figures referred to in (2) above.

7. Call upon the Purchaser and the Seller to attend to sign the documents drafted to give effect to the transfer of the property. Part of these documents relate to FICA and the parties need also to declare solvency and so on. The attorney will explain these to the signatories. The Purchaser is required to pay the transfer duty, transfer fees and other costs at the time when the documents are signed. The figures are standard and the purchaser should be made aware of these at time of purchase. There are many websites where one can obtain these figures.

8. The transfer duty is then paid to the Receiver of Revenue in order to obtain a transfer duty receipt as proof of such payment.

9. Payment is made to the local authority of the rates and taxes as per the statement obtained in terms of (3) above in order that one can obtain a clearance certificate as proof that such rates and taxes have been paid.

10. Upon receipt of the guarantees from the bond attorneys the guarantees which are required to cancel the existing bond are sent to the attorneys attending to the cancellation of the bond.

11. Once the transfer duty receipt and a clearance certificate have been obtained, arrangements are made with the Attorneys attending to the registration of the Purchaser's bond and the attorneys attending to the cancellation of the existing bond to have all the documents lodged simultaneously in the Deeds Office.

12. After examination of the documents by the Deeds Office (which currently takes approximately 7 – 10 working days) the transfer of the property in the name of the new owner will be registered.

13. Upon registration of the transfer in the Deeds Office the Purchaser then becomes the registered owner of the property.

14. The guarantees are then presented at the various financial institutions and after the guarantees have been cashed, the Seller receives payment of the balance of the purchase price after payment of the monies which have to be paid on behalf of the Seller. This normally takes place on the first working day after the registration date.

This process is not always clear sailing but if all parties provide the necessary information timeously, the transfer attorney is skilled, the local authority is other than Johannesburg(!) things will happen.

Why own your home.

The Benefits of owning your home.

Who owns the house that you are living in. Are the title deeds in your name?

If your house is owned by a landlord you should take the actions to own your own place. Why

What are the main benefits of owning a property outright?

1. You cannot easily be evicted from the property since you hold the freehold title to the property.
2. You can then use the property as collateral to obtain study loans or a loan to improve your house. You can even borrow against a home's equity for other reasons such as medical or funeral expenses as well as starting a new business.
3. You can sell the house and realise the full value in cash.
4. You can bequeath the property to your next of kin.

What are the things that you should be aware of?

1 You are responsible for the maintenance of the property if you own it.
2 If you do encumber the property with a loan and you do not repay it as agreed, your home may be attached (taken away from you) and you may be evicted.

Here are some other benefits

• Pride of ownership is the number one reason why people want to own their home. Home ownership gives you and your family stability and security. It's making an investment in your future.
• You benefit from increases in value. So despite all the ups and downs, real estate has consistently appreciated.