What should I do if I'm selling my house and it's taking a long time to sell?

Lake Properties                    Lake Properties

    

Lake Properties                     Lake Properties

Quick diagnosis — 10 things to check first

1. Price vs market — most stalled listings are priced above what buyers expect for comparable homes. Re-check your Comparative Market Analysis (CMA).
2. Presentation / photos — poor photos or cluttered rooms stop buyers before a showing. Consider new professional photos and virtual tours.
3. Listing copy & specs — missing facts, wrong number of beds/baths, or weak headlines reduce click-throughs.
4. Marketing reach — check which portals, social ads, and agent networks are being used (local + national portals).
5. Showing accessibility — limited showing windows mean fewer buyers see it.
6. Unpleasant smells / cleanliness — scent and cleanliness are surprisingly important. Avoid overpowering artificial scents.
7. Condition surprises — outdated kitchen, poor curb appeal, visible maintenance issues turn buyers away.
8. Buyer financing barriers — properties with very specific conditions (e.g., long time-to-transfer expectations, a Taung tenancy) can reduce buyer pool.
9. Agent activity & feedback — are you getting consistent feedback and a regular report of showings and traffic?
10. Market timing — some seasons or local markets are slower — compare your DOM vs local averages. (In SA average time-on-market recently has been ~11–12 weeks; check local trends for your area.)

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Metrics to track (and what good looks like)

Track these each week:

• Days on Market (DOM) — how long since listing; compare to local average.
• Showings per week — how many booked viewings.
• Offers per X showings — conversion ratio (e.g., 1 offer per 20 showings).
• List-to-sale price ratio — final sale price divided by original list price.
• Time from first show to offer — shows momentum.

Benchmarks: “Good” varies by market. In South Africa, a typical national average recently has been around 11–12 weeks, so interpret your DOM against your local suburb and price band.

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Immediate 14-day action plan (do these now)

1. Get fresh, fast feedback — ask your agent for the last 10 showings’ feedback (write it down). If you haven’t been getting feedback, instruct the agent to collect it after every viewing.
2. Re-do photos & lead visuals — bright, wide-angle interiors; good twilight exterior shot; short video walkthrough (60–90s).
3. Fix the 3 visual killers — deep clean, declutter & depersonalise, repaint scuffed surfaces in neutral tones.
4. Staging intervention — add key staged elements (living room, master, kitchen) or virtual staging if empty; NAR finds staging often shortens DOM and can increase offers. Consider pro staging if budget allows.
5. Small high-ROI fixes — replace old light fittings, re-caulk baths, tidy garden, pressure-wash driveway.
6. Update listing copy & floorplan — highlight unique lifestyle benefits and practical features (school zones, transport, fibre, security).
7. Boost marketing — run a 7–10 day social ad campaign targeting buyers in your price band + a broker/agent email blast.
8. Open house / broker’s tour — schedule at least one weekend open house and one broker-only showing week.

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30- to 60-day strategy — when to change price, and how

If after 30 days traffic is low and no serious offers arrive:

A. Reassess price strategy

• Move from “aspirational” to “strategic.” Buyers filter on price ranges — small reductions can move your listing into a bigger pool. Zillow & other experts recommend re-evaluating price before throwing money at big renovations.

B. Example price-reduction timeline (illustrative):

• Week 0: List at market-based price supported by recent comps.
• Week 2–4: If showings low, reduce 2–5% or price to the next psychological threshold (e.g., R1,499,000 → R1,399,000).
• Week 6–8: If still no traction, re-run CMA, consider a larger reduction or re-launch with a new campaign.

C. Use a ‘relaunch’ approach

• When you reduce price, refresh photos and re-promote the listing as “price improved” to get algorithmic boosts on portals.

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What to spend on (cost vs likely ROI)

• Decluttering + paint — low cost, high ROI.
• Curb appeal (garden, lawn, entrance) — often one of the best ROI improvements.
• Lighting & staging — professional staging often costs a median amount (agent-staged median spend vs pro-staging data shows modest spend can pay off). NAR data: agents report staging can shorten time on market and increase offers in many cases.
• Major renovations (full kitchen/bath reno) — low probability of recouping full costs unless you’re moving the property to a materially higher price band.

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Marketing checklist (do these well)

• List on the top national portals for your country/area (in SA: Property24, PrivateProperty and local portals). Make sure listing is in the correct suburb and price band.
• Add a video walkthrough and a floorplan image.
• Run a short targeted social ad (Facebook/Instagram) aimed at buyers in your price range.
• Promote a broker’s open (email or WhatsApp blast to local agents).
• Use “price reduced” and “must sell” — don’t overuse, but smart relaunch language helps algorithms and human readers.

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Showing & open-house best practices

• Keep it neutral & scent-free; avoid heavy artificial fragrances (some scents can deter buyers).
• Open blinds, use warm lighting, set the temperature comfortable, and have the entryway spotless.
• Leave a one-page feature sheet with highlights and recent comps for visitors.

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Handling offers — how to read them and respond

1. Check buyer strength — pre-approval letter vs. proof-of-funds for cash offers.
2. Look beyond price — flexible possession dates, minimal conditions, and fewer subjects often beat a slightly higher price with many conditions.
3. Counter-offer tips — if you counter, address 1–2 main points (price and possession) and leave other items to standard transfer/legal processes. Use short, clear language.
4. Escalation clause — useful in multiple-offer situations (buyer agrees to beat competing offers up to a cap). Use carefully and only with legal/agent advice.
5. Inspections & repairs — decide ahead whether you will do repairs or offer a credit; minor fixes often speed sale.

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South Africa — transfer timing & required certificates (important)

• Typical transfer timeline: most transfers in South Africa take about 6–12 weeks (2–3 months) from Offer to Purchase to registration, but can be shorter for cash or longer if bank, municipal, or SARS delays occur.
• Required seller documents: transfer deed, signed Offer to Purchase, Rates Clearance Certificate (municipality certificate showing property rates paid — required by law before registration), Transfer Duty receipt or exemption, and FICA docs. The Rates Clearance is mandatory for lodgement at the Deeds Office.
• Certificates of compliance (e.g., Electrical Certificate of Compliance) are normally required and often must be recent (electrical COC frequently valid for 2 years for transfer purposes). Make sure the conveyancer has everything ready to avoid registration delays.

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When to change course (switch agent / pause listing / rent out)

Consider switching if:

• Your agent hasn’t produced concrete marketing activity in 2–4 weeks.
• You have consistently poor communication or no fresh ideas.
• Multiple showings but zero offers — consider a more aggressive pricing or different marketing agent.

Consider pausing and relaunching if seasonal conditions are bad (e.g., winter in some markets). Consider renting out if you’re not forced to sell and the market is very soft.

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Practical conversation scripts you can use now

Agent script to request action:

“I’ve reviewed the showings/feedback for the last 30 days. I’d like a fresh CMA and a list of 5 immediate, low-cost fixes we can implement this week (photos, staging, listings updates, targeted ad). Also send me a weekly traffic report and agent feedback after every viewing. If we don’t have an offer in 30 days we’ll agree on a specific price-adjustment plan.”

Buyer-response script to evaluate offer:

“Thanks for the offer. Before I respond I need proof of pre-approval/funds and your proposed possession date. I will respond with either acceptance or a single counter on price/possession within 48 hours.”

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One-page quick checklist (do these in this order)

1. Get showings feedback (today).
2. Re-shoot photos + video walkthrough (within 3 days).
3. Declutter, deep-clean, repaint touch-ups (1 week).
4. Staging of key rooms or virtual staging (1 week).
5. Run a 7–10 day re-launch marketing push and open house (week 2).
6. Re-evaluate price & CMA (end of week 2–4) — consider small, strategic reduction if needed.

If you know of anyone who is thinking of selling or buying property, please call me 

Russell 

Lake Properties 

www.lakeproperties.co.za 

info@lakeproperties.co.za 

083 624 7129 

What are typical delays when your selling your house and how to avoid them?

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Lake Properties                  Lake Properties

1) Buyer financing problems (most common)

Why: buyer’s pre-approval was conditional; bank asks for extra documents; credit changes; bank backlog.
How it shows up: bond approval takes weeks, or buyer cancels.
Avoid it:

• Ask for bank pre-approval letters (not just application screenshots) before accepting an offer.
• Request final bond approval within a short, written deadline (e.g., 7–14 days).
• Ask buyer to supply their proof of income, bank statements & 3 months’ payslips to the agent for verification up front (not all buyers will share, but many will).
• Accept offers from buyers who can show cash or interbank guarantee where possible.
• Include a clause in the sale agreement that if finance is not approved by X days the seller may cancel (have conveyancer draft).

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2) Home inspection / repair negotiations

Why: inspection uncovers structural/major defects or many small issues; buyer demands repairs/credit.
How it shows up: renegotiation stalls transfer or buyer requests long repair windows.
Avoid it:

• Do a pre-listing insspection ( hire an inspector or a qualified contractor ) and fix high-impact items (roof leaks, electrical hazards, plumbing).
• Provide a repairs disclosure pack to buyers before offer stage so expectations are clear.
• If you’ll not repair: offer a small cash allowance up front instead of open repair deadlines — faster and cleaner.
• If repairs are agreed, set firm completion dates (and require proof/photos/invoices).

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3) Missing or incomplete seller documents

Why: attorney needs IDs, marriage/antenuptial contracts, title deeds, company resolutions (if a company sells) etc.
How it shows up: conveyancer asks for docs; lodgement delayed.
Avoid it: prepare a document pack before listing (see checklist below). Send copies to conveyancer the day you accept an offer.

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4) Title / deed problems and outstanding bonds

Why: old bonds not cancelled, owner signatures missing, incorrect names, subdivision issues.
How it shows up: deeds office rejects lodgement or requires corrections.
Avoid it:

• Ask your conveyancer to do a pre-lodgement title check.
• Have bond cancellation documentation or a release letter ready if an existing bond needs settlement.
• Correct ownership names early (consenters, trustees, estates must be resolved).

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5) Municipal rates / clearance delays

Why: municipal accounts unpaid, or the council takes weeks to issue clearance.
How it shows up: deeds office won’t register transfer until clearance certificate is issued.
Avoid it:

• Request municipal statement and rates clearance early; pay any arrears immediately.
• Use your conveyancer to pre-apply for council clearance the instant you accept the offer; follow up weekly.

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6) Certificates of Compliance (CoC) — electrical, gas, plumbing, termites

Why: inspections/bookings take time; repairs may be needed.
How it shows up: buyer insists on certificates; transfer delayed while vendor obtains them.
Avoid it:

• Order CoCs pre-listing (electrical, plumbing, gas/cooker, beetle/termite if needed).
• If a CoC fails, get quotes and do repairs immediately — the certificate is quick to re-issue once fixed.

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7) Slow conveyancing / deeds office backlog

Why: attorneys don’t follow up; deeds office backlogs; bank admin delays.
How it shows up: lodgement accepted but registration is delayed.
Avoid it:

• Use an experienced conveyancer who has good relationships with the local deeds office and banks.
• Ask the conveyancer for a clear timeline and weekly updates.
• Ensure your bank (if you have an existing bond) and the buyer’s bank communicate early.

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8) Chain sales / conditional offers

Why: buyer’s buy depends on their sale; if their buyer falls through everyone is delayed.
How it shows up: long suspensive conditions, rolling deadlines.
Avoid it:

• Prefer buyers without a chain where possible (cash or home already sold).
• If chain unavoidable, include firm deadlines and require proof of progress (offer accepted from their buyer, transfer date

If you know of anyone who is thinking of selling or buying, please call me 

Russell 

Lake Properties 

www.lakeproperties.co.za 

info@lakeproperties.co.za 

083 624 7129 

Lake Properties                     Lake Properties

The history of the Joseph Stone Auditorium

Lake Properties

Lake Properties

Joseph Stone Auditorium — history and community impact (Athlone, Cape Town)

Here’s a clear timeline and short analysis showing how the Joseph Stone Auditorium has strengthened and uplifted surrounding communities from its founding to the present day.

Quick timeline / origins

• The performing collective that became the Eoan Group started in District Six in the 1930s as an after-school/arts programme for children. Over time it expanded into drama, music, ballet and adult community theatre.
• After forced removals from District Six under apartheid the Eoan Group lost its home. Philanthropist Joseph Stone donated funds to build a new theatre in Athlone; the Joseph Stone Auditorium (designed by architect Revel Fox) opened on 21 November 1969 as the Eoan Group Cultural Centre.
• The building is a 500-seat theatre with rehearsal rooms, studios and offices and was funded by a mix of government, foundations and the Eoan Group. It has hosted opera, plays, festivals and training programmes since inauguration.

What’s been done inside the building (examples)

• Performing arts training and schooling — the Eoan Group School of Performing Arts runs regular classes (ballet, drama, music, modern dance, etc.), providing structured arts education for youth and adults. This has kept local talent engaged and developing skills across generations.
• Community theatre & festivals — the venue has hosted community drama groups, opera productions and national amateur theatre festivals that brought many groups together (dozens of participating groups in some years). That activity gave local performers a platform and drew visiting audiences into Athlone.
• Multi-use community programming — beyond theatre shows, the auditorium has been used for lectures, conferences, film shoots, senior-citizen events, movie days and free concerts (for example a 2024 seniors’ concert with the provincial police band), showing its role as a civic gathering space.

How that work strengthened and uplifted the surrounding communities

1. Cultural preservation and identity after displacement
   When District Six residents were forcibly removed, the Joseph Stone Auditorium became an institutional home for the arts traditions that had grown up there. By continuing the Eoan Group’s programmes it preserved and celebrated cultural practices and personal histories tied to District Six. That continuity supports communal identity and intergenerational memory.

2. Skills, confidence and youth development
   Regular classes and performance training give local children and young adults skills — not just artistic technique but stagecraft, teamwork, discipline, public speaking and event production — all of which increase opportunities for employment and civic participation.

3. Social cohesion & safe public space
   Programming for seniors, youth, community groups and school performances creates safe, constructive meeting places. Events like free concerts and movie days promote social inclusion, reduce isolation, and strengthen neighbourhood networks.

4. Local economic spillover
   Performances and festivals attract audiences who spend locally (transport, food, small traders). Hiring technical staff, performers and contractors for productions creates short-term jobs and recurring income for local suppliers.

5. Civic pride and tourism/visibility
   A prominent cultural building on Klipfontein Road helps put Athlone on cultural itineraries (local tours and stories reference the auditorium), which raises the area’s profile and encourages further community initiatives.

Recent evidence that the venue is still active and serving the community

• Local reporting shows the auditorium continues to host community events (e.g., an Oct 2024 seniors’ concert attended by ~400 local seniors). The Eoan Group still lists the Joseph Stone Auditorium as home to its school and productions. This continuity from 1969 to today demonstrates ongoing community value.

Short summary

From its origins as a home for the Eoan Group after District Six removals to its present role as a 500-seat cultural and community centre, the Joseph Stone Auditorium has preserved cultural memory, provided arts education, created meeting spaces and modest economic benefits, and strengthened civic identity in Athlone and the Cape Flats. Its mix of training, performances and community programming is a template for how a local cultural venue can uplift an area over decades.

If you know of anyone who is thinking of selling or buying property, please call me 

Russell 

Lake Properties 

www.lakeproperties.co.za 

Info@lakeproperties.co.za 

083 624 7129 

Lake Properties                      Lake Properties

What if the seller misrepresents the property which you bought. What action can you take and how you go about it.

Lake Properties                       Lake Properties

Lake Properties                  Lake Properties  

Misrepresentation by a Seller – What It Means and What Buyers Can Do

Buying a home is often the biggest investment of your life. You save, you search, you finally find “the one.” Then comes the shock: after moving in, you discover things the seller never mentioned. Damp patches hidden by paint. A roof that leaks when it rains. Or worse, a neighbour who’s been in a boundary dispute with your property for years.

It’s enough to make any buyer feel cheated. As estate agents, we’ve seen these situations before, and while they’re stressful, they’re not hopeless. If a seller misrepresented a property, you have steps you can take to protect yourself.

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What Misrepresentation Actually Means

At its core, misrepresentation is when a seller gives false or misleading information about a property that influences your decision to buy.

It usually falls into three categories:

1. Innocent misrepresentation – The seller genuinely didn’t know about the problem.
2. Negligent misrepresentation – The seller should have known but didn’t disclose.
3. Fraudulent misrepresentation – The seller knew about the issue and deliberately hid it (for example, painting over cracks, or lying about a leaking roof).

It’s the negligent and fraudulent ones that matter most, because they give you grounds to act.

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So, What Can You Do If This Happens?

Here’s a step-by-step guide:

1. Don’t Panic – Assess the Damage

Not all problems are deal-breakers. A faulty tap is one thing, but rising damp or structural damage is another. Take a breath and work out how serious the issue is.

👉 Tip: Take photos and videos, and get an independent inspection or contractor report. This evidence will be important later.

2. Review Your Paperwork

Look at your Offer to Purchase and the Mandatory Disclosure Form (which sellers are now legally required to complete). If the seller said “no leaks” or “pool pump works” and that’s not true—you’ve got proof of misrepresentation.

3. Seek Professional Advice

Before you confront the seller, speak to a property attorney. They’ll explain your rights and what’s realistic: whether you can claim money back, force repairs, or in rare cases, cancel the whole deal.

4. Approach the Seller (With Backup)

Often the first move is a letter from your attorney to the seller. It’s professional, clear, and sets out what went wrong and what you want done—whether that’s a cash contribution, covering repair costs, or another solution.

👉 From an agent’s perspective: Many sellers choose to negotiate once they realise you have evidence and legal backing.

5. If Negotiations Fail, Escalate

If the seller won’t play ball, you have options:

• Claim damages – Ask for the cost of repairs or the loss in property value.
• Cancel the sale – In very serious cases, where you were completely misled, you may be able to walk away.
• Go to court – This is the last resort but sometimes necessary.

Remember: even if your contract has a voetstoots (sold “as is”) clause, it does not protect a seller who knowingly lied or hid a defect.

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How Buyers Can Protect Themselves Upfront

The best way to avoid misrepresentation problems is to catch them before you sign. Here’s how:

• Don’t skip the Mandatory Disclosure Form – If it’s missing, push for it. No form, no deal.
• Get a professional home inspection – It’s worth every cent.
• Ask direct questions in writing – “Has the roof ever leaked?” “Any disputes with neighbours?” Written answers are evidence if things go wrong later.
• Check compliance certificates – Electrical is required everywhere, and plumbing in some areas (like Cape Town). Gas and electric fences also need valid certificates.

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A Final Word From Lake Properties

We’ve walked this road with buyers before, and we know how stressful it feels when you realise you weren’t told the full story. But you’re not powerless. With good advice, evidence, and the right approach, you can either recover your costs or, in extreme cases, undo the deal altogether.

At Lake Properties, we always push for transparency because honesty upfront saves buyers and sellers a lot of heartache later.

💬 From your perspective: If you were in this position, would you fight it legally to recover costs—or would you prefer to settle quickly with the seller and move on?

— Lake Properties

If you know of anyone who is thinking of selling or buying property, please call me 

Russell 

www.lakeproperties.co.za 

info@lakeproperties.co.za 

083 624 7129 

Lake Properties                    Lake Properties

How do you as an estate agent handle lowball offers from buyers

Lake Properties                       Lake Properties

Lake Properties                  Lake Properties

1) Mindset (the foundation)

• It’s business, not personal. Buyers probe; many low offers are tests or negotiation anchors. Don’t react emotionally.
• Every offer is information. Even a low offer tells you the buyer is interested, or that your listing copy/price/condition has a perception gap you can fix.
• You control the process. You can counter, request proof, ask for terms changes, or walk away. Don’t feel forced to accept or reply defensively.

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2) Step-by-step protocol (how to respond, every time)

1. Pause and evaluate
   • Confirm buyer’s proof of funds or mortgage pre-approval.
   • Check earnest money / deposit amount and any unusual contingencies.
2. Analyze the offer as a whole (price, deposit, financing, closing date, contingencies, inclusions, inspection, appraisal clauses).
3. Compare to your bottom line (the lowest you will accept) and to market comps.
4. Decide a strategy — one of: (A) Counter with price + explain comps, (B) Counter with non-price concessions (shorter close, higher deposit), (C) Ask for buyer justification / proof, (D) Issue “best and final,” (E) Reject politely and keep marketing.
5. Respond professionally (agent should send the reply; sellers should avoid emotional language).
6. If negotiation continues, keep records and set firm deadlines for responses.
7. If you accept, document protective terms: deposit, timeline, appraisal gap coverage (if any), inspection escrow, etc.

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3) Negotiation levers (things you can trade instead of cutting price)

• Earnest deposit size (increase to show buyer commitment).
• Closing date flexibility (shorter or seller rent-back).
• Which inspections/contingencies remain (e.g., buyer accepts AS-IS or waives certain contingencies).
• Repair credits vs price reduction (give credit after inspection instead of lowering list price).
• Inclusions/exclusions (appliances, furniture).
• Appraisal gap coverage (buyer covers X if appraisal low).
• Financing terms (e.g., allow seller carryback for a short time — only if you know what you’re doing).

Use combinations: e.g., accept a price slightly lower if buyer increases deposit and shortens closing.

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4) Scripts you can use (copy / adapt)

A — Quick polite rejection (if you won’t engage):

Thank you for the offer. At this time we are not able to accept that price. If you’re able to revise, please send an updated offer with proof of funds or pre-approval.

B — Counter with price + comps (professional):

Thank you. We appreciate your interest. The sellers have reviewed the offer and are prepared to counter at R1,425,000 based on recent comparable sales (attached). The sellers request proof of funds or a lender pre-approval within 24 hours and a R100,000 earnest deposit. Closing flexible to suit your timeline. Please advise.

C — Ask for buyer to justify a low offer:

Thanks for submitting. We’re curious what led to the offer amount — is it based on an inspection, appraisal expectation, or repairs you’re budgeting? Please provide justification and proof of funds so we can continue discussions.

D — Best & Final request (use during multiple offers):

We have multiple offers and invite you to submit your best and final by 4:00 PM on [date]. Please include updated financing proof and earnest deposit amount.

E — Walk-away / final “no” (firm):

We appreciate the offer but it’s below our acceptable range. If you’d like to continue, please submit a realistic revised offer.

F — Post-inspection lowball reply (offer to negotiate repairs instead):

We reviewed the inspection concerns and are willing to offer a R25,000 repair credit (or make the agreed repairs) in lieu of a price reduction. Please confirm whether you accept that remedy.

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5) Worked numeric example (step-by-step arithmetic — how I’d recommend countering)

Scenario: Listing price = R1,500,000. Buyer offers R1,200,000 (a lowball). You want to calculate the gap and decide a counter.

1. Calculate the difference (asking − offer):

   • 1,500,000 − 1,200,000 = 300,000.
     So the difference is R300,000.

2. Calculate the percentage difference:

   • Divide difference by asking: 300,000 ÷ 1,500,000 = 0.2.
   • Convert to percent: 0.2 × 100 = 20%.
     So the offer is 20% below list.

3. Decide a countering anchor (typical strategy: anchor near 95% of list rather than meet the low offer halfway). Compute 95% of asking:

   • 0.95 × 1,500,000 = 1,425,000.
     So a 95% counter is R1,425,000.

4. Reasoning: 95% preserves negotiating room, signals seriousness, and narrows the gap from R300,000 to:

   • 1,425,000 − 1,200,000 = 225,000.
     So the new gap is R225,000 (still large, but leaves room to get to your bottom line).

5. Alternate smaller concession: if you prefer to be firmer, counter at 97%:

   • 0.97 × 1,500,000 = 1,455,000 → R1,455,000.

Rule of thumb from this example: For a very low offer (≥15–20% below) you generally don’t accept the midpoint; instead counter high (90–97% of ask) and force buyer to climb or justify.

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6) Special cases & how to handle them

Cash investor / flipper who lowballs

• They often factor repair costs and resale margin. Ask for their scope of work and timeline. If their number is below the cost threshold, walk. If you want a quick sale, consider a middle option but insist on a strong deposit and fast closing.

Buyer with weak financing (low offer + mortgage)

• Ask for an increased deposit and proof of lender pre-approval with a name and LOE (letter of endorsement). If financing is shaky, seller protection clauses or higher deposit protect you.

Post-inspection renegotiation (buyer lowballs after seeing inspection)

• Offer a specific repair credit or perform the repairs. Avoid ad hoc large price cuts — quantify repairs with contractor quotes before conceding.

Multiple offers

• Use “best and final” deadline to extract the most value. Don’t counter each buyer with a separate incremental increase—either set a highest-and-best deadline or choose the strongest offer and counter only that party.

If buyer is insulting or unreasonable

• Keep reply brief and professional or have your agent respond. Do not argue. Protect your bargaining position and reputation.

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7) When to accept a low offer

Consider accepting if one or more of the following is true:

• It meets or exceeds your bottom line (the walk-away price you set).
• Buyer offers superior terms (cash, quick closing, large deposit, waived contingencies).
• Market conditions indicate inventory is high and relisting will take months.
• The carrying cost of continued marketing (mortgage, levies, agent fees, staging) outweighs the difference.
  If you accept, document protections: deposit size, no-contingency clauses if applicable, and explicit appraisal/inspection handling.

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8) Communication & timing best practices

• Respond promptly and professionally. Even a short rejection/counter within 24 hours keeps momentum. (You can instruct your agent to respond fast.)
• Always ask for proof of funds or lender LOI before deep negotiation.
• Keep negotiation in writing (email/contract) to avoid misunderstandings.
• Set deadlines for responses to avoid endless lowball back-and-forth.

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9) Presentation — how to justify your counter

When you counter, attach a short, professional packet:

• 3 recent comparable sales (within 1 km / 3 months) with photos and adjustments.
• A list of upgrades/improvements you completed (dates + receipts if possible).
• A clear summary of why your price is fair (location, school zone, condition).
  This converts emotion into evidence.

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10) Quick checklist before replying to a lowball

• [ ] Confirm buyer’s proof of funds / pre-approval.
• [ ] Verify earnest deposit amount and whether it escalates.
• [ ] Pull 3–5 recent comps and sales data.
• [ ] Reconfirm seller’s bottom line (lowest acceptable price + non-price terms).
• [ ] Decide negotiation strategy (price vs terms vs reject).
• [ ] Prepare a professional written reply using one of the scripts above.
• [ ] Set a firm response deadline (e.g., 24–48 hours).

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Lake Properties Pro-Tip (expanded)

• Always treat lowball offers as negotiation openings, not insults. Start with a calm, evidence-backed counter anchored near 90–97% of your price when the offer is far below list. Use non-price levers (deposit, closing date, contingencies) to extract value, and keep the buyer’s proof of funds front and center. Finally, have your agent act as the buffer — emotions waste deals; facts close them.

Lake Properties                   Lake Properties

How Cape Town Compares to Johannesburg for Property Investment

Lake Properties

Lake Properties

• Cape Town = stronger capital growth, pricier entry points, lifestyle & tourism demand. Good if you’re buying for long-term appreciation or premium short-term rentals.
• Johannesburg = generally lower prices, often higher gross rental yields, more value-add and cash-flow plays — but location matters hugely.

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1) Market performance & prices (what the data actually says)

• Price growth: Cape Town has been outpacing the rest of the country in recent years — it’s the metro leading the pack for house-price inflation in 2024–25. That momentum shows where capital-growth investors have been getting rewarded.
• Price levels: Prime Cape Town neighbourhoods command much higher prices per square metre than Johannesburg’s prime nodes — roughly R31,000/m² in top Cape Town suburbs vs ~R14,000/m² in top Joburg suburbs (this is a broad average for prime product). That gap explains why Cape Town feels expensive even to South Africans.
• Typical averages: Depending on the measure (asking vs sold), Cape Town’s average listing/sold prices tend to sit higher (many measures show mid-to-high millions in prime and mid segments), whereas Johannesburg’s metro averages sit notably lower — around the R1.2–R1.4m neighborhood for many transactions. Use the local listing sites to check the “asking vs sold” gap for each suburb.

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2) Rental yield & cash flow — who wins for income?

• Gross yields: Johannesburg typically shows higher gross rental yields on average than Cape Town (city averages in recent surveys put Joburg in the ~11% band vs Cape Town nearer ~9% — these are broad averages and vary by property type). If you’re chasing cash flow, Joburg often offers better starting yields.
• But don’t forget net yield: higher gross yield can hide higher costs — tenant churn, security expenses, estate levies, incentives and vacancy. Always model a worst-case vacancy and maintenance scenario for each city/suburb.
• Short-term vs long-term: Cape Town’s tourism and lifestyle appeal create strong short-term (Airbnb) revenue in the right spots (Atlantic Seaboard, City Bowl, some Atlantic suburbs), which can lift returns — but short-term comes with higher management and regulatory risk.

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3) Demand drivers — why buyers and renters choose each city

• Cape Town: lifestyle (beaches, scenery, climate), international/expat buyers, and local semigration (people moving from other provinces) are strong demand engines — that supports capital growth and low vacancy in desirable suburbs, but also puts pressure on affordability and infrastructure.
• Johannesburg: economic hub + employment nodes (Sandton, Rosebank, regional business parks) underpin rental demand from professionals, plus strong student markets and urban renewal pockets that create yield opportunities. Demand is more domestically driven and more correlated to job market cycles.

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4) Risks & practical problems to watch (do not ignore)

• Cape Town risks: high entry prices (affordability risk), concentration risk in lifestyle nodes (if tourism dips), and municipal challenges (rates increases, infrastructure strain in places) — those can blunt returns if you don’t pick carefully.
• Johannesburg risks: uneven neighbourhood performance (some pockets are great, some are risky), higher crime perception in certain suburbs (impact on tenant pool and insurance/security costs), and office/retail vacancy in some commercial nodes. Location selection and property management are critical.
• Macro risks: interest-rate moves, national economic performance, and exchange-rate volatility (if you rely on foreign buyers or foreign income) will affect both cities.

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5) Which investor should prefer which city?

• You want capital growth and can wait: Cape Town — buy prime, hold long, pick areas with limited future supply (think constrained coastal nodes, well-located City Bowl apartments, or gated estates with scarcity).
• You want cash flow and faster payback: Johannesburg — buy at lower cost, target high-demand rental pockets (student housing, young-professional nodes, well-located sectional title units), and focus on professional management.
• You want a blended portfolio: consider one asset in Cape Town for growth + one in Joburg for cash flow — the two together smooth volatility and capture both upside drivers.

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6) Practical, boots-on-the-ground checklist (before you buy)

1. Visit the area at different times (weekday morning, evening, weekend).
2. Speak to two letting agents and two estate agents — compare vacancy, typical tenant profile, rents and tenant vetting.
3. Run a 5-year cashflow model with conservative occupancy (e.g., 85% for long-lets, 60% for STRs) and a 10–15% capex reserve.
4. Check municipal rates & utility history (big surprises here kill yields).
5. Confirm sectional title levies and what they include (water, security, repairs).
6. Ask for recent sales in the building/street (sold, not just asking).
7. Factor insurance & security costs realistically, especially in Joburg.
8. Legal/title due diligence — get a conveyancer early.

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7) Mini list: suburbs & plays (examples, not investment advice)

• Cape Town (growth / STR / students): Atlantic Seaboard (Sea Point, Clifton) for premium growth/STR; City Bowl for lifestyle & short commute; Woodstock/Observatory for student and young-pro renter demand.
• Johannesburg (yield / value-add): Randburg and parts of the northern suburbs for solid rental bases; Braamfontein and Maboneng for student/young professionals and value-add; Sandton for premium corporate lets (but entry costs are high).

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8) Taxes, finance & other money-stuff (short)

• Bond rates, transfer costs, capital gains tax and municipal rates all affect return — model tax and bond scenarios with your accountant. If you depend on rental cashflow, stress-test at +2% and +4% higher interest rates. (Local tax rules change; get local advice.)

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Bottom line — which city should you pick?

• Pick Cape Town if your goal is capital appreciation, you can accept a higher entry price and want a lifestyle/holiday-rental premium.
• Pick Johannesburg if you need stronger starting yields, lower capital outlay and want to actively manage or refurbish for returns.

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Lake Properties Pro-Tip

If you can only buy one property today and you want to balance growth + income, buy a lower-priced, high-yield sectional title in a strong Joburg rental node (good cashflow), and use the monthly surplus to save toward a targeted Cape Town purchase in 12–24 months. That way you capture Joburg’s cashflow advantage while positioning to buy growth in Cape Town when the right deal appears — and you reduce the risk of overpaying for growth in a hot market.

Lake Properties                    Lake Properties

What should you not fix when selling a house?

Lake Properties                     Lake Properties

Lake Properties                    Lake Properties

Don’t pour money into expensive, highly personal, or partial upgrades that buyers will change anyway (full kitchen remodels, luxury finishes, ultra-personal décor). Focus on clean, neutral, functional, and safe — fix deal-breaking systems and obvious safety/inspection issues, but skip costly aesthetic choices buyers will replace.

What you should not fix — and why

Below are common things sellers waste money or time on, with short explanations and exceptions.

1. Full high-end remodels (kitchens, bathrooms, room additions)

Why not: high cost, low guaranteed return; project can delay sale and create buyer uncertainty. Exception: if your neighborhood commands premium finishes (e.g., a remodel simply to match comps) or you’re staying long-term and want the upgrade.

2. Trendy or highly personalized finishes

Examples: loud wallpaper, neon paint, ultra-modern fixtures, themed rooms. Why not: buyers may be put off and will likely replace these items to suit their taste. Exception: neutralize — paint over extremes rather than replacing whole systems.

3. Partial renovations / mismatched upgrades

Examples: new countertops but old cabinets, one new bathroom in an otherwise dated home. Why not: highlights what’s unfinished and can lower perceived value. Exception: if the partial upgrade makes the space fully functional and looks cohesive.

4. Expensive landscaping features

Examples: ornate ponds, expensive mature plantings, complex irrigation systems. Why not: costly, ongoing maintenance, and buyers may see them as extra work/cost. Exception: simple curb-appeal boosts (mulch, trimmed hedges, fresh plants) are worthwhile.

5. Replacing older-but-functional items

Examples: older but working windows, a ten-year-old HVAC that still performs, appliances that work. Why not: buyers accept reasonable age if systems function; replacement cost often not recouped. Exception: if an item is failing, unsafe, or greatly reduces curb appeal.

6. Re-doing floors just because you prefer another material

Why not: buyers often change flooring to their taste; ripping out floors can backfire. Exception: badly damaged floors or flooring that will deter buyers (pet-soaked carpet, buckling).

7. Small, frivolous upgrades with low ROI

Examples: designer light fixtures, high-end bathroom accessories, boutique tiles. Why not: luxury taste is subjective and rarely increases sale price by its cost.

8. Cosmetic “band-aids” that conceal problems

Examples: painting over mold/water stains without addressing the leak, plastering cracks without fixing foundation movement. Why not: inspectors or buyers will find root issues later; concealment risks legal problems and renegotiation. Exception: for purely cosmetic stains with known, fixed causes, a paint touch-up is fine — but keep documentation.

The exceptions (when you should fix)

Some “not worth it” items become MUST-fix quickly:

• Safety hazards: exposed wiring, broken handrails, gas leaks — fix immediately.
• Structural or active water issues: roof leaks, active foundation movement, severe rot.
• Pest infestations (termites, rodents) — must be remedied and documented.
• Failing major systems that will kill the sale or appraisal (non-working HVAC in extreme climates, major plumbing failure).
• Code/permit problems that would prevent transfer or mortgage approval in your market.
• Anything that would fail a standard home inspection and be a deal-breaker in your area.

If in doubt: if it’s likely to kill financing or an inspection report, fix it.

Why “don’t fix” advice works (buyer psychology & comps)

• Buyers often want to customize. They mentally subtract your aesthetic choices and imagine their own.
• Over-improving beyond comparable homes in the neighborhood rarely increases the top market price — buyers compare to comps.
• Simple, clean, move-in-ready homes sell faster and attract more offers; expensive bespoke improvements can narrow the buyer pool.

What you should do instead (highest ROI / impact)

Spend on things that maximize buyer appeal and minimize objections:

High-impact, low-cost (very recommended)

• Fresh, neutral paint throughout main living areas.
• Deep cleaning (carpets, windows, grout).
• Decluttering and depersonalizing (pack family photos, remove knickknacks).
• Fixing small but visible issues: leaky faucets, sticking doors, burned-out lights, cracked tiles in high-visibility spots.
• Curb appeal basics: mow, trim hedges, power wash driveway/siding, add potted plants.

Moderate-cost, good ROI

• Replace tired light fixtures and switch plates with neutral, inexpensive options.
• Re-caulk grout lines in bathrooms, fix toilet runs.
• Replace old carpet (if stained/worn) — or clean thoroughly.
• Update hardware (cabinets, door handles) for a fresh look without full remodel.

When to consider bigger updates

• If comps show recently renovated kitchens/baths and your home needs to compete in that tier.
• If the current condition prevents financing or inspection approval.

Decision guide — how to decide what to fix

1. Safety / Function First: Anything unsafe or that prevents sale — fix.
2. Inspection Killers: If an inspector will identify it as a major defect, fix it.
3. First-impression Issues: Visible dirt, bad odors, peeling paint — fix them.
4. High-cost vs high-return: Avoid high-cost projects with low resale ROI.
5. Neighborhood Benchmark: Don’t over-improve above neighborhood comps.
6. Time & Disruption: Don’t start long projects that delay listing or create living hassles unless they’re necessary.

Negotiation options instead of fixing

If a buyer wants work done, these are alternatives to doing it yourself:

• Offer a credit at closing for repairs (buyer can choose contractor).
• Lower the price slightly rather than completing an expensive remodel.
• Provide inspection/repair receipts for recently fixed issues to reassure buyers.
• Use an as-is listing with a realistic price if you don’t want to do repairs — but expect fewer offers.

DIY vs contractor

• DIY good: painting, decluttering, small tile re-grout, minor carpentry when skilled.
• Hire pro: electrical, plumbing, structural repairs, major roofing, HVAC — shoddy DIY here causes escrow/legal headaches.

Timing & staging considerations

• Don’t start projects that delay professional photos — photos are critical for marketing.
• If renovating, schedule completion before listing so the house can be shown as finished.
• Staging (rented or DIY) often yields better returns than extensive renovations.

Inspector & appraiser perspective

• Inspectors look for safety, structural, moisture, and mechanical system issues. Cosmetic fixes won’t impress if there are underlying problems.
• Appraisers compare to comps — expensive personal upgrades don’t always raise appraised value unless they move the home into a higher comp bracket.

Quick pre-listing checklist (what to do — short & actionable)

• Clean, declutter, depersonalize.
• Touch-up paint with neutral colors.
• Fix leaky taps, running toilets, and burned-out lights.
• Secure and remove obvious trip hazards; fix handrails.
• Power-wash exterior and tidy the garden.
• Replace cracked glass panes and torn screens.
• Remove strong odors (pets, smoking) — professional cleaning if needed.
• Gather warranties, manuals, and receipts for recent repairs.

Common seller mistakes to avoid

• Over-improving beyond the neighborhood.
• Hiding problems (legal/ethical risk).
• Doing a partial job that looks worse than the original.
• Letting a project go unfinished when photos have already been taken.
• Spending on “nice-to-have” luxury items that won’t attract buyers.

Market context matters

• In a hot seller’s market, buyers will tolerate more cosmetic issues — you can skip more fixes.
• In a buyer’s market, buyers will negotiate harder — polishing small issues becomes more important. Talk to your listing agent about local conditions and recent sales (comps) before deciding.

Final decision rule

Ask two questions for each item:

1. Will this deter or scare off buyers or fail inspection? If yes → fix.
2. Will this cost me more than I will likely recover in price or time to sell? If yes → don’t do it.

Lake Properties Pro-Tip

Spend your time and budget on clean, neutral, and functional improvements: fresh paint, deep cleaning, curb appeal basics, and fixing safety/inspection items. For everything else, consider pricing smartly, offering a credit, or letting the buyer remodel to their taste.

Lake Properties                    Lake Properties

Should I price my house a little higher to leave room for negotiation

Lake Properties

Lake Properties

1) High-level rules of thumb

• Seller’s market (low inventory, hot demand): Price at or slightly below market to create buyer competition. Leaving negotiation “room” is usually unnecessary.
• Balanced market: Price at market or very slightly above (1–3%) if you want a small cushion. Expect some negotiation.
• Buyer’s market (lots of supply, few buyers): You may need a larger cushion (4–10%) if you list high — but listing too high risks few showings. Better to price competitive and negotiate on terms.

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2) How much “room” to leave (guideline percentages)

• Hot / seller’s market: 0–2% buffer.
• Balanced market: 3–5% buffer.
• Buyer’s market: 5–10% buffer (but consider pricing lower to attract offers instead).

Why percentages matter: buyers compare listings and use search filters; if you price outside the typical range you risk fewer showings and stale listing risk.

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3) Step-by-step pricing framework (use with your agent)

1. Collect 3–6 recent comps (same neighbourhood, similar size/bedrooms, closed in last 3 months).
2. Adjust comps for differences (beds, garages, land, condition, renovations) and calculate a likely market value range (low–mid–high).
3. Decide objectives: fastest sale, max price, or best terms (e.g., rent-back, quick closing).
4. Select pricing strategy: competitive (at or slightly under market), market (fair market price), or buffer (a little higher to allow negotiation).
5. Set a listing price and a written minimum acceptable price (your “walk-away”). Don’t rely only on memory — get it in writing with agent.
6. Launch with full marketing & staging that supports the price. A higher price needs justification (photos, floorplan, video, highlights).
7. Track first 7–14 days: showings, online views, feedback, and number of offers. Most activity happens in the first two weeks.
8. If performance is weak, adjust (see price-reduction strategy below).

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4) Practical math examples (so you can see outcomes)

Assume market comps point to R2,000,000 fair value.

• List slightly higher (+5%) to leave room:
  List = R2,000,000 × 1.05 = R2,100,000.
  If a buyer offers 5% below that list: Offer = R2,100,000 × 0.95 = R1,995,000.
  Sale/List ratio = 1,995,000 ÷ 2,100,000 = 95%.

• List slightly under (to spark offers):
  List = R2,000,000 × 0.975 = R1,950,000 (a 2.5% underprice). This can attract more buyers and sometimes create multiple offers.

• Price-reduction example (3% cut):
  If initial list was R2,000,000, a 3% reduction → R2,000,000 × 0.97 = R1,940,000.

• Work backward from your required net (example):
  If you need a net of R1,800,000 after commission and costs, estimate other costs (transfer, repairs, staging) and plug into:
  SalePriceNeeded = (DesiredNet + OtherCosts) ÷ (1 - Commission%).
  Example (illustrative): Desired net R1,800,000 + OtherCosts R50,000; Commission 6% → Sale price needed ≈ R1,968,085.
  (Use your actual commission % and costs — this example is to show the formula.)

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5) Offer evaluation checklist (don’t judge on price alone)

When an offer arrives check:

• Price offered (obvious).
• Deposit amount (bigger deposit = more serious buyer).
• Proof of funds / pre-approval (is financing likely?).
• Subject conditions: financing clause, inspection/repairs, sale of buyer’s property. Fewer conditions = stronger offer.
• Proposed closing date / occupancy requests (does it suit you?).
• Inclusions / exclusions (appliances, fixtures).
• Escalation clause or multiple-offer strategy (read carefully).
• Proposed penalties for failing conditions (how enforceable?).

A slightly lower clean, unconditional offer is often better than a higher offer loaded with big conditions.

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6) Negotiation tactics (for your agent)

• Counter on terms, not only price: e.g., increase deposit, shorten subject periods, fix closing date.
• Use a “best & final” deadline if you suspect other offers — gives you a fair field without committing to multiple negotiations.
• If you get a low offer, respond with a respectful counter (don’t ignore). Ask for evidence of pre-approval.
• Consider escalation clauses carefully — they can create competition but complicate negotiations.

Sample counter wording (short): “Thanks for the offer. We appreciate your interest. We can accept RX or the current offer with a 7-day unconditional clause and a 10% deposit.”

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7) Pricing mistakes to avoid

• Overpricing to “test the market” for too long — a stale listing loses momentum.
• Changing price often in small increments — this signals desperation. Larger, well-timed adjustments are better.
• Ignoring buyer search behaviour — price points (e.g., R1,999,000 vs R2,000,000) affect how many buyers see your listing.
• Letting emotions set the price (e.g., sentimental value) — rely on comps and data.

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8) Price-reduction strategy & timing

• Monitor first 7–14 days: if showings and online engagement are weak, consider a reduction.
• Common reduction steps: 3–5% per reduction, reassess after another 10–14 days.
• Repositioning vs reducing: sometimes improving marketing/staging is better than a small cut.

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9) If you want negotiation room but don’t want to scare buyers

• Use modest padding (3–5%) in balanced markets, and justify the price with a better presentation.
• Or list at market and be prepared to negotiate — buyers who feel the price is fair are less likely to lowball.
• Consider “charm pricing” (R1,999,000 vs R2,000,000) to capture certain search filters.

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10) Final decision rule (simple)

1. Get the comps and a CMA.
2. Decide your minimum acceptable net (in writing).
3. Choose a visible list price that: a) matches your objective, b) keeps you inside what buyers search for, and c) allows for the negotiation buffer appropriate to your market.
4. Launch with full marketing. Review performance at day 7 and day 14 and adjust if needed.

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Lake Properties Pro-Tip

Price with strategy, not hope. Before you list, put your bottom-line number in writing (what you must receive after costs), pick a target list price and a clear reduction plan. That way every counteroffer is compared to your plan — you avoid emotional decisions and win more profitable, faster sales.

If you know of anyone who is thinking of selling or buying property,please call me 

Russell 

Lake Properties 

Www.lakeproperties.co.za info@lakeproperties.co.za 

Lake Properties                        Lake Properties

How do you prepare your garden in Spring and summer months

Lake Properties

Lake Properties

🌱 Spring – Waking Up the Garden

Spring is the season of renewal. Your garden has likely been resting through the cold months, and now it’s time to wake it up.

1. Clear & Clean
   Walk through your garden and remove all the “winter leftovers” – fallen leaves, dead branches, and weeds that crept in. This not only makes it look neat but prevents disease and pests from having a head start.

2. Prepare the Soil
   Healthy soil = healthy plants. Loosen the soil with a garden fork, add compost or well-rotted manure, and mix it in. This is like giving your garden a hearty breakfast before a busy day – it sets the tone for growth.

3. Prune & Divide
   Cut back dead or damaged branches from shrubs and roses, and divide overcrowded perennials. This gives plants room to breathe and grow stronger.

4. Plant the Early Crops
   In spring, you can sow cool-season vegetables (like lettuce, spinach, and peas) and brighten up flower beds with pansies, marigolds, and other hardy annuals.

5. Mulch & Protect
   A fresh layer of mulch not only looks neat but also locks in moisture and suppresses weeds.

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🌞 Summer – Helping the Garden Thrive

By summer, your garden is in full swing, but now the challenge is keeping it healthy under the hot sun.

1. Water the Right Way
   Deep watering in the early morning or late afternoon helps plants soak it up before the sun evaporates it. A soaker hose or drip system is your best friend because it delivers water directly to the roots.

2. Stay on Top of Weeds
   Weeds grow quickly in summer. Pulling them out regularly keeps your plants from having to “fight” for nutrients.

3. Feed Your Plants
   Veggies are hungry! Give them a liquid feed every 2–4 weeks, and use slow-release fertilizer for shrubs and flowers. This keeps energy flowing into growth and fruiting.

4. Support & Protect
   Tall plants like tomatoes and sunflowers may need stakes to prevent them from falling over. For delicate crops, consider shade cloth to protect them from scorching afternoons.

5. Harvest & Deadhead
   Pick vegetables and herbs regularly – the more you harvest, the more they produce. For flowers, snip off dead blooms so the plant keeps pushing out fresh ones instead of wasting energy on seeds.

6. Keep an Eye on Pests
   Summer is peak pest season. Look out for aphids, caterpillars, and snails. Organic options like neem oil or garlic spray can help, or use companion planting (like marigolds to deter bugs in your veggie patch).

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✅ Lake Properties Pro-Tip:

Think of your garden as an investment, just like a home. The work you put in during spring is like laying a strong foundation, and the care you give in summer is like maintaining and protecting that investment. If you consistently water, feed, and harvest, your garden will reward you with beauty, shade, and food – while also boosting your property’s value and curb appeal.

If you know of anyone who is thinking of selling or buying property,please call me 

Russell 

Lake Properties 

083 624 7129 

www.lakeproperties.co.za info@lakeproperties.co.za 

Lake Properties                   Lake Properties

Which real estate scams must you be aware of as a homeowner

Lake Properties                  Lake Properties

Lake Properties                   Lake Properties

1. Rental Scams

These are some of the most common. A scammer will advertise a property for rent, usually with beautiful pictures and an unbelievably low price. When you contact them, they’ll spin a story about being out of town or too busy to meet, then ask you to pay a deposit upfront to “secure” the property. The moment you pay, they disappear — and often the property was never theirs to begin with.
👉 Tip: Always view the property in person and never pay until you’ve signed a legitimate lease.

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2. Title Deed / Ownership Fraud

This one’s scary because it targets your actual property. Criminals steal your identity, forge signatures, and transfer the ownership of your home without you knowing. Suddenly, someone else is trying to sell or take a loan against your house.
👉 Tip: Regularly check with the Deeds Office to confirm your property is still registered in your name.

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3. Wire Transfer Scams

When you’re buying a home, you’ll need to transfer a big chunk of money, usually through your attorney’s trust account. Scammers hack into emails, change the banking details in the instructions, and trick you into transferring funds straight into their account.
👉 Tip: Always confirm banking details with your attorney by phone or in person before transferring funds.

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4. Foreclosure “Rescue” Scams

If you’re struggling to pay your bond, you may be vulnerable to smooth-talking fraudsters who promise to “help” save your home. They’ll ask for large upfront fees or get you to sign documents you don’t fully understand — sometimes even tricking you into handing over ownership of your house.
👉 Tip: If you’re in trouble, talk directly to your bank before anyone else.

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5. Fake Investment Opportunities

These scams are wrapped in shiny promises: luxury developments, beachfront apartments, or plots of land in “fast-growing” areas. You’re shown brochures, photos, even contracts. The catch? The project either doesn’t exist or will never be built.
👉 Tip: Do your homework. Check building plans with the municipality and confirm that the developer is registered with the NHBRC (National Home Builders Registration Council).

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6. Overpayment Tricks

You might come across a “buyer” or “tenant” who sends you a payment that’s higher than what’s due, then asks you to refund the difference. Their original payment later bounces, leaving you out of pocket.
👉 Tip: If someone pays too much, don’t refund until the funds are 100% cleared with your bank.

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7. Fake Agents

Some fraudsters pretend to be real estate agents. They show you pictures of properties, arrange “viewings” that never happen, and collect deposits or fees before vanishing.
👉 Tip: Always ask for an agent’s Fidelity Fund Certificate (FFC) — a legal requirement in South Africa for any practicing estate agent.

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8. Inflated Property Flips

Scammers buy cheap properties, do the bare minimum (like a coat of paint), and then push them onto unsuspecting buyers at massively inflated prices, often supported by dodgy valuations.
👉 Tip: Compare recent sales in the area and don’t rush into buying just because someone says it’s a “hot deal.”

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🌟 Lake Properties Pro-Tip:
Real estate is one of the biggest financial commitments you’ll ever make. Always slow down, verify everything, and ask the “awkward” questions. A genuine seller, agent, or developer will never pressure you to pay quickly or avoid paperwork. If you’re not sure, rather walk away — losing out on a deal is better than losing your life savings.

If you know of anyone who is thinking of selling or buying property,please call me 

Russell 

Lake Properties 

www.lakeproperties.co.za 

info@lakeproperties.co.za 

083 624 7129 

Lake Properties                   Lake Properties