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Pringle Bay
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Name:https://en.wikipedia.org/wiki/Pringle_Bay Google count: Date: Historic
fact: Other interesting info: Where to stay:
7 years ago
Tuesday, March 8, 2011
Monday, March 7, 2011
What is the situation now with clearance certificates?
Johannesburg’s property sales backlog has reached what role-players are describing as crisis proportions, with the
backlog in the issuing of clearance certificates for property tax in the city now up to 45 000. A Sake24 report notes
transactions worth billions cannot be processed, leaving lawyers, buyers, sellers and agents at a dead-end. Lew Geffen,
of Lew Geffen Sotheby’s International Realty, says the situation is a massive problem for the economy of Johannesburg
and that agents’ cash flow is already 40% lower than normal. Clients who sold their properties in 2009 are still awaiting
clearance certificates needed to transfer ownership. The Johannesburg Council says the backlog is due to software
problems brought about by the transition to a new system. Martin Strydom, of law firm Louw & Heyl, is quoted as saying
his firm has at least 150 property transactions that cannot be completed. ‘Law firms are under fire from buyers and
sellers, but our hands are tied.’ He says the municipality should consider the privatisation of the certificate issuing
process.
a Sake 24 report
backlog in the issuing of clearance certificates for property tax in the city now up to 45 000. A Sake24 report notes
transactions worth billions cannot be processed, leaving lawyers, buyers, sellers and agents at a dead-end. Lew Geffen,
of Lew Geffen Sotheby’s International Realty, says the situation is a massive problem for the economy of Johannesburg
and that agents’ cash flow is already 40% lower than normal. Clients who sold their properties in 2009 are still awaiting
clearance certificates needed to transfer ownership. The Johannesburg Council says the backlog is due to software
problems brought about by the transition to a new system. Martin Strydom, of law firm Louw & Heyl, is quoted as saying
his firm has at least 150 property transactions that cannot be completed. ‘Law firms are under fire from buyers and
sellers, but our hands are tied.’ He says the municipality should consider the privatisation of the certificate issuing
process.
a Sake 24 report
Monday, February 28, 2011
Saturday, February 26, 2011
Portia Mofikoe - not telling the whole truth.
"No estate agent is entitled to a commission unless, at the time of the performance of the transaction, a Fidelity Fund certificate was issued to him or her," she (Portia Mofikoe) noted - 2 Feb 2011.
Read a blog that I posted some time ago:
Taljaard v Botha Properties (666/06) [2008] ZASCA 38 (28 March 2008)
CASE NO: 666/06
Some people may say this is the Sign of the Devil – if you look at the case number.
But, not to pay the agreed commission to an agent that does not have a fidelity fund certificate is not on – they had a deal the judge said.
The estate agency (Botha Properties) has won a court victory that will support estate agents who sell property without having a valid fidelity fund certificates.
The Supreme Court of Appeal of SA ruled that a seller does not have the right to have commission returned if it emerges that the estate agent was operating without a fidelity fund certificate.
The delay in issuing of Fidelity fund certificates by the EAAB are a sore point in real estate sales' circles right now - A war of words is taking place in the media between agents and Ms Mapetla of the Estate Agency Affairs Board (EAAB), after it emerged that many estate agents are not in possession of valid fidelity fund certificates.
According to the previous interpretation of the law, estate agents who do not have a valid certificate when they act as agents are not entitled to commissions earned. This seems to have been overturned by this case. As judge Nugent said:
“It seems to me that that misconstrues the purpose of the section. It was not enacted for the benefit of clients who have incurred a contractual obligation to pay remuneration to an estate agent who has performed his or her mandate – I have already held that the contract giving rise to the obligation remains valid notwithstanding the breach of s 26 – but rather to penalize estate agents who have breached the section. An estate agent who claims remuneration in conflict with s 34A might expose himself or herself to criminal sanction, and will be prevented from enforcing his or her claim, but I do not think it follows by necessary implication that a client who has settled his or her contractual obligation is accorded a right of action for its return.”
Nugent dismissed the client's appeal with costs.
Read a blog that I posted some time ago:
Taljaard v Botha Properties (666/06) [2008] ZASCA 38 (28 March 2008)
CASE NO: 666/06
Some people may say this is the Sign of the Devil – if you look at the case number.
But, not to pay the agreed commission to an agent that does not have a fidelity fund certificate is not on – they had a deal the judge said.
The estate agency (Botha Properties) has won a court victory that will support estate agents who sell property without having a valid fidelity fund certificates.
The Supreme Court of Appeal of SA ruled that a seller does not have the right to have commission returned if it emerges that the estate agent was operating without a fidelity fund certificate.
The delay in issuing of Fidelity fund certificates by the EAAB are a sore point in real estate sales' circles right now - A war of words is taking place in the media between agents and Ms Mapetla of the Estate Agency Affairs Board (EAAB), after it emerged that many estate agents are not in possession of valid fidelity fund certificates.
According to the previous interpretation of the law, estate agents who do not have a valid certificate when they act as agents are not entitled to commissions earned. This seems to have been overturned by this case. As judge Nugent said:
“It seems to me that that misconstrues the purpose of the section. It was not enacted for the benefit of clients who have incurred a contractual obligation to pay remuneration to an estate agent who has performed his or her mandate – I have already held that the contract giving rise to the obligation remains valid notwithstanding the breach of s 26 – but rather to penalize estate agents who have breached the section. An estate agent who claims remuneration in conflict with s 34A might expose himself or herself to criminal sanction, and will be prevented from enforcing his or her claim, but I do not think it follows by necessary implication that a client who has settled his or her contractual obligation is accorded a right of action for its return.”
Nugent dismissed the client's appeal with costs.
Sunday, February 20, 2011
Nomonde Mapetla suspended.
Sunday Times - February 20, 2011
I have allways maintained that the qualifications are inappropriate and not conducive to allowing new black entrants into the market. This view is also shared by others in the industry.
I quote from the above article: "Geffen said that under Mapetla the EAAB 'has made it impossible for new agents to enter the market'.
Geffen said this was because of Mapetla's insistence that all agents have recognised qualifications.
'Very few people are coming in simply because the exams are too hard... it's made it impossible for black, white pink or yellow to enter.'
The EAAB is a consumer protection agency and should not attempt to regulate the industry through licencing requirements. Yes, it should stamp on agencies that defraud clients, that are unethical and dip their fingers in the tust money till; but not attempt to control the industry. That role should be handed to the profession to look after. Exactly how this is to be done needs some consultation with the industry and not the one-sided approach that the EAAB has been following.
I have allways maintained that the qualifications are inappropriate and not conducive to allowing new black entrants into the market. This view is also shared by others in the industry.
I quote from the above article: "Geffen said that under Mapetla the EAAB 'has made it impossible for new agents to enter the market'.
Geffen said this was because of Mapetla's insistence that all agents have recognised qualifications.
'Very few people are coming in simply because the exams are too hard... it's made it impossible for black, white pink or yellow to enter.'
The EAAB is a consumer protection agency and should not attempt to regulate the industry through licencing requirements. Yes, it should stamp on agencies that defraud clients, that are unethical and dip their fingers in the tust money till; but not attempt to control the industry. That role should be handed to the profession to look after. Exactly how this is to be done needs some consultation with the industry and not the one-sided approach that the EAAB has been following.
Monday, February 14, 2011
Voetsek Voetstoots.
The new credit act (The Consumer Protection Act No. 68 of 2008) does not apply to once off sellers of property.
http://www.ita.co.za/index.php?option=com_content&view=article&id=268:voetstoots-clauses-and-the-consumer-protection-act&catid=25:newsarticles&Itemid=89
http://www.ita.co.za/index.php?option=com_content&view=article&id=268:voetstoots-clauses-and-the-consumer-protection-act&catid=25:newsarticles&Itemid=89
Monday, February 7, 2011
Saturday, November 27, 2010
Vat or Transfer Duty?
A good article can be found here:
http://www.durbanville-property.co.za/info-vat-or-transfer-duty.htm
http://www.durbanville-property.co.za/info-vat-or-transfer-duty.htm
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In the streets of Johannesburg.
