Lake Properties

Lake Properties, Cape Town is a young and dynamic real estate agency located in Wynberg, Cape Town. We offer efficient and reliable service in the buying and selling of residential and commercial properties and vacant land in the Southern Suburbs including Bergvliet,Athlone,Claremont,Constantia,Diepriver,Heathfield,Kenilworth,Kenwyn,Kreupelbosch, Meadowridge,Mowbray,Newlands,Obervatory,Pinelands,Plumstead,Rondebosch, Rosebank, Tokia,Rondebosch East, Penlyn Estate, Lansdowne, Wynberg, Grassy Park, Steenberg, Retreat and surrounding areas . We also manage rental properties and secure suitably qualified tenants for property owners. Another growing extension to our portfolio of services is to find qualified buyers for business owners who want to sell businesses especially cafes, supermarkets and service stations. At Lake Properties we value our relationships with clients and aim to provide excellent service with integrity and professionalism, always acting in the best interest of both buyer and seller. Our rates are competitive without compromising quality and service. For our clients we do valuations at no charge

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

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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).

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).

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.

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).

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.

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.

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.

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

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The history of the Joseph Stone Auditorium

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

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.
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.
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.
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.
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

How Cape Town Compares to Johannesburg for Property Investment

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.

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.

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.

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.

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.

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.

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

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

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).

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.)

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.

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.

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What are the advantages of trying to pay your mortgage bond earlier off

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Why paying your bond early helps (thoroughly explained)

1) The big, obvious win — you pay much less interest

Mortgages are amortised so early payments cover mostly interest; as the balance drops more of each payment reduces capital. Every rand you pay early reduces the base on which future interest is calculated — that’s a compounding win.

Example (real numbers so you can feel the scale):

Loan: R1,500,000
Interest: 9% p.a. (compounded monthly)
Term: 20 years (240 months)

Monthly payment for this loan = R13,495.89.
Total paid over 20 years = R3,239,013.44.
Total interest paid if you make only required payments = R1,739,013.44.

Now two common “early pay” strategies and what they actually achieve:

A — Add R2,000 extra each month to the standard payment:

New payoff time ≈ 174 months (14.5 years) instead of 240 months — you finish ~5.5 years sooner.
Total interest paid ≈ R1,196,284.74.
Interest saved ≈ R542,728.70.

B — Make a R200,000 lump prepayment after 5 years:

You’ll shorten the overall term to about 193 months (≈16.1 years) — save 47 months (~3.9 years).
Total interest paid ≈ R1,104,706.64.
Interest saved ≈ R634,306.80.

(Those examples show how both small regular extras and a single lump sum can cut huge sums from interest.)

2) You gain flexibility & optionality faster

Faster equity growth gives you options:

Refinance at better rates or borrow a smaller amount if you need a loan later.
Sell with a larger cash buffer.
Use equity to invest or fund life events — but only if you want to, not because you’re forced to.

3) Lower sensitivity to rate rises and income shocks

If rates rise (or your bond has a variable rate), a smaller outstanding balance reduces how much a rate increase raises your monthly interest or shortens the margin for error when your income drops.

4) Better retirement and life planning

No bond payment in retirement = predictable, lower fixed expenses and less stress on pension income. That makes retirement planning simpler and often more secure.

5) Psychological and lifestyle value

There’s real peace-of-mind value in owning your home sooner — less daily stress, fewer decisions constrained by a monthly bond, and a stronger sense of financial freedom. That’s intangible but important.

Important trade-offs and checks (don’t skip these)

Paying the bond early isn’t always automatically the best move — you must compare the opportunity cost:

Prepayment penalties and admin rules
- Some bonds have fees or limits on how much you can repay early, or require admin to apply extras to principal. Always confirm the lender’s terms.
Opportunity cost of other investments
- If you can plausibly earn a higher after-tax, after-fees return by investing (or by paying off higher-interest debt first), investing that money might make more financial sense than prepaying the bond.
- A simple rule of thumb: if your mortgage interest rate is higher than the after-tax return you reasonably expect from alternate investments, prepaying is attractive.
Liquidity / emergency fund
- Don’t deplete your emergency savings. Bonds are long-term — if you drain liquid cash to prepay and then need money, you may have to borrow at higher rates.
Other debts
- Prioritise paying off higher-interest unsecured debts (credit cards, personal loans) before accelerating a low-rate mortgage.
Tax considerations / investment property
- Tax rules differ by country. In many places, interest on owner-occupied mortgages is not tax-deductible but interest on investment properties is. Check local tax rules before making decisions dependent on tax deductions.
If you’re fixed-rate
- Fixed-rate bonds sometimes have stronger penalties for early repayment — check whether prepaying is cheap or expensive for your contract.

Practical tactics — how to prepay smartly

Confirm with your bond originator:
1. Are there prepayment penalties?
2. Will extra payments be applied to principal (not simply held as credit against future instalments)?
3. Can you make partial prepayments, and how often?
Tactics you can use
- Add a small extra each month (e.g., R1,000–R3,000) — consistent and painless.
- Make bi-weekly / fortnightly payments if your bank allows it (it’s a small effective extra each year).
- Use windfalls (bonuses, tax refunds, inheritance) as lump-sum prepayments — these have a big impact.
- Round up your monthly payment (e.g., always pay R14,000 instead of R13,495.89).
- Split windfalls — e.g., 60% to bond, 40% to investments — to get the best of both worlds.
Record-keeping
- Keep receipts and check annual statements to ensure extra amounts are reducing principal. Mistakes happen; check.

A short decision checklist

Do you have a 3–6 month emergency fund? ✅
Do you have higher-interest debts to clear first? ✅
Have you compared the mortgage rate to expected after-tax investment returns? ✅
Have you confirmed prepayment rules with your lender? ✅

If you can answer “yes” to these and you’re comfortable with the reduced liquidity, accelerating the bond often wins financially and emotionally.

Lake Properties Pro-Tip:
Before you throw money at your bond, call your bond originator and ask two direct questions: (1) “Are there any prepayment penalties or annual caps on extra payments?” and (2) “Will extra payments go straight to principal, and can I redraw on them later if needed?” Then use windfalls (bonuses, tax refunds) to cut principal, keep a 3–6 month emergency fund untouched, and consider splitting other surplus cash between an extra bond payment and a higher-yield investment — that way you save interest and keep upside potential.

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

What 20 questions do you ask the seller of a potential house.

1. Why are you selling?

This is the ice-breaker. If the seller is relocating for work, downsizing, or moving closer to family, it’s usually straightforward. But if they mention “maintenance is too much” or “the area isn’t what it used to be,” that could hint at hidden problems (crime, noise, upkeep).
👉 Red flag: vague or defensive answers.

2. How long have you owned the property?

Longer ownership means a deeper history you can probe. Short ownership (less than 2 years) may indicate they discovered issues quickly and want out.
👉 Pro-Tip inside this: compare their answer with the title deed history.

3. How long has the property been on the market and have you had any offers?

A house sitting for 6+ months without serious offers might be overpriced or have underlying issues. If there were offers that fell through, ask why — finance rejection? Bad inspection?

4. What’s your asking price and how flexible are you?

This tests motivation. A seller who says, “we’re open to reasonable offers” is more negotiable than one saying, “our price is firm.” Use this info when structuring your bid.

5. What’s included in the sale?

Fixtures, appliances, pool pumps, irrigation systems, blinds, chandeliers — sellers sometimes remove items you assumed were included. Always pin this down in writing.

6. Is the property vacant or occupied?

If vacant, you can take transfer quicker. If tenants live there, you inherit their lease — you’ll need to check the contract and rental terms.

7. Are there any known defects, leaks, or maintenance issues?

This is where honesty is tested. Sellers in South Africa are legally required to disclose defects, but some downplay them. Get specifics: roof leaks, damp patches, faulty wiring.

8. Have you had any insurance claims?

A house with multiple insurance claims (burst geyser, roof damage, fire) might have weak infrastructure or recurring risks. Ask for proof from their insurer if possible.

9. Have you done any renovations or additions?

This uncovers upgrades (new kitchen, added bedroom, extended patio). Ask for exact years. Renovations older than 10 years may soon need updating again.

10. Were renovations permitted and do you have approved plans?

Illegal structures (like an unapproved granny flat) can cause major transfer headaches and even demolition orders. Always ask for stamped municipal plans.

11. When were major systems last serviced/replaced?

Roofs, geysers, plumbing, and electrical boards all have lifespans. A geyser older than 10 years might fail soon; wiring older than 20 years may need upgrading. This gives you bargaining power on price.

12. Any history of damp, mould, or drainage problems?

These are costly silent killers. Smell closets, check corners, and ask about water pooling during rains. Damp is hard to fix and can harm health.

13. Any pest issues?

Termites, wood-borer, and rodents can quietly eat through the structure. If they say it’s been treated, ask for the pest control certificate.

14. Any structural issues or cracks?

Not all cracks are serious — some are cosmetic. But wide diagonal cracks or sloping floors suggest foundation movement. Always follow up with an engineer’s report if you suspect structural risk.

15. Are the boundaries and title clear?

Sometimes a neighbour’s wall or fence is built on your land. Servitudes (e.g., “municipality can dig on your property for water pipes”) limit your control. Request the title deed diagram.

16. Any disputes with neighbours, HOAs, or municipality?

Noise, pets, unpaid levies, or zoning fights can poison the experience of living there. Sellers may brush it off, but listen closely to their tone.

17. Any outstanding municipal rates, taxes, or levies?

In South Africa, you can’t transfer a property unless these are settled, but delays happen if there are arrears. Better to ask early and avoid transfer surprises.

18. Any upcoming projects or zoning changes nearby?

That quiet street could become a busy road if a new development is approved. Sellers sometimes know, sometimes pretend not to — verify with the municipality too.

19. Do you have recent inspection reports, utility bills, and disclosures?

Bills show you the real cost of living there — water, electricity, levies. A disclosure form forces the seller to list known defects on paper.

20. What’s your preferred sale process and timeline?

This manages expectations. If they want a 30-day transfer but your bond approval will take 60 days, you need to negotiate.

🎯 Lake Properties Pro-Tip

Asking questions is only half the job — verify everything. Sellers may forget, understate, or gloss over details. Always:

Match their answers with official documents (title deeds, municipal plans, compliance certificates).
Put all promises in the Offer to Purchase — verbal agreements don’t count.
Hire your own independent inspector, even if the house “looks fine.”

👉 The smartest buyers treat the seller’s answers as a first filter, not the final truth.

What if on party to the sale dies before the process is completed

Here’s a more detailed explanation of what happens in South Africa when one party dies before a property transfer is completed, broken down by stages of the process:

1. A Deed of Sale Has Been Signed but Transfer Not Yet Finalised

This is the most common scenario. Here's what happens depending on which party dies:

If the Seller Dies:

The signed Deed of Sale (Offer to Purchase) is still valid.
The property now falls into the deceased seller’s estate.
The executor of the estate, once appointed by the Master of the High Court, is responsible for completing the transaction.
The buyer must wait until the executor is officially empowered to act (via Letters of Executorship).
The property transfer will be registered in the buyer’s name, but only once the Master has approved and the executor signs the necessary transfer documents.

Possible Delays:

Estate reporting process (usually 4–8 weeks or more).
Delay in appointing executor.
Clearance certificates from SARS and municipality may be delayed if the estate is complex.

If the Buyer Dies:

The buyer’s rights under the sale agreement are now held by their estate.
The executor of the deceased buyer’s estate must assess whether to proceed with the purchase (e.g., does the estate have funds, is the purchase still desirable?).
If the executor decides to proceed, the property will be transferred either:
- Directly to a named heir or beneficiary, or
- Into the estate, then later transferred or sold again.

Important:

If the sale is a cash transaction and payment has been made, the executor has a legal and practical reason to proceed.
If the purchase was to be financed with a bond, and the bond wasn’t finalized before death, the deal may collapse unless the estate can fund it.

2. No Deed of Sale Was Signed Before Death

In this case, there is no legally binding contract. Death cancels any informal or verbal arrangements. The executor of the deceased’s estate is free to sell (or not sell) the property or decide whether to proceed with a new sale.

3. Deceased Was Married

South African marital regimes can affect property transfer after death:

In Community of Property: The surviving spouse owns half the estate and must be involved in the transaction.
Out of Community of Property: The deceased’s estate owns the entire property (or their share), and only the executor can proceed.
With Accrual: Depends on the value of each estate at death; might require accrual calculation before transfer.

4. Other Practical Considerations

Transfer Duty: Payable by the buyer, regardless of whether they are alive or deceased.
Conveyancer Role: Must work closely with the executor and Master’s Office.
Wills and Beneficiaries: May determine whether heirs are entitled to inherit or sell the property if no transfer occurs.

A problem property doesn’t have to be a deal-breaker. With the right strategy, these homes can turn into excellent investments. Always request a detailed inspection report, verify municipal approvals, and lean on an experienced estate agent. At Lake Properties, we specialize in identifying potential issues early and guiding buyers and sellers to successful, stress-free transactions. Remember: informed decisions make all the difference.

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

Russell Heynes

Lake Properties

083 624 7129

www.lakeproperties.co.za

info@lakeproperties.co.za

Can a property owner make a loan against the property the property that he owns.Is it advisable to do so?

Making a Loan Against Your Property

When you own a property, the bank sees it as a secured asset. If your home is worth more than what you currently owe on the bond, you effectively have equity in the property. A bank may allow you to access this equity by either:

Registering a further bond (a new loan amount registered against the property).
Re-advancing on your existing facility (if you paid extra into your bond).

For example, if your house is valued at R2 million and you only owe R1 million, you could potentially access a portion of that R1 million “gap” as a loan.

Is It Advisable?

It depends on why you’re borrowing:

✅ Good Reasons

Renovating or upgrading the property (which often boosts its market value).
Consolidating high-interest debts (credit cards, personal loans) into a lower-interest home loan.
Funding a long-term investment (like buying another property).

⚠️ Risky Reasons

Borrowing against your home to fund lifestyle expenses (holidays, cars, entertainment).
Using it as “easy money” without a repayment plan.

From a bond originator’s perspective, this type of borrowing makes sense if the loan is being used to increase value or reduce overall financial strain. The bond rate is almost always lower than unsecured credit, so it can be a smart financial move—but only if you stay disciplined about repayment.

Human Perspective

Think of your property like a “financial safety net.” It’s something you worked hard to secure, and tapping into its value can open doors. But it’s also your home, your foundation—so using it as collateral is not a decision to take lightly. Borrow smart, not out of impulse.

Lake Properties Pro-Tip

If you’re considering a further bond, speak to a bond originator before going straight to your bank. We can compare offers from multiple lenders, check how much equity you can realistically access, and ensure the repayment terms won’t strain your budget. This way, you’re not just borrowing money—you’re making a strategic move that protects both your property and your financial future.

A day in the life of a Hindu temple in Rylands

Lake Properties

When you step into Rylands Estate, you don’t just find homes and businesses; you discover a vibrant cultural heartbeat. One of its most treasured landmarks is the Siva Aalayam Temple, a Hindu temple that has stood for decades as a beacon of faith, tradition, and community. Whether you are a devotee, a neighbour, or simply a visitor curious about Cape Town’s cultural diversity, the temple offers a fascinating glimpse into daily spiritual life.

A Short History of Siva Aalayam Temple

The Sri Siva Aalayam Temple, situated on Ruth Road, was established in the 1970s to serve the growing Hindu Tamil community on the Cape Flats. For families who were relocated under apartheid’s Group Areas Act, places of worship became more just religious sites — they were spaces to preserve culture, language, and a sense of belonging.

Over the years, Siva Aalayam has grown not only in size but also in significance. In 2023, the temple unveiled a striking feature at its entrance: 63 life-size statues of the Nayanmars (saints devoted to Lord Siva), handcrafted in Tamil Nadu, India. This installation has strengthened the temple’s identity and made it one of the most recognisable Hindu temples in Cape Town.

Early Morning Devotion

A typical day at the Siva Aalayam Temple begins before dawn. The gurukkal (priest) starts the morning rituals with abhishekam (the ceremonial bathing of the deity) using milk, water, and fragrant oils. The sound of temple bells resonates through the still morning air, accompanied by Sanskrit mantras.

Devotees arrive early, offering flowers and lighting lamps to seek blessings before their day begins. For many, this quiet morning worship is an essential practice — a moment to ground themselves spiritually before facing work, school, or daily responsibilities.

Rituals and Community Life During the Day

As the day unfolds, the temple becomes a hub of activity. The priest continues with midday pujas, ensuring that Lord Siva and the other deities are honoured with fresh offerings of fruit, flowers, and incense.

Beyond prayer, the temple also plays an important cultural role. Children attend Tamil language classes, Bharatanatyam dance lessons, and Carnatic music sessions, helping to preserve traditions for younger generations. Seniors and families often gather in the temple hall to share meals, volunteer, or engage in spiritual discussions.

The temple doubles as a community hall for weddings, naming ceremonies, and cultural events, making it a cornerstone of Rylands’ social life.

Evening Worship and Reflection

As the sun sets, the temple comes alive again. Lamps are lit, filling the space with a warm golden glow. Devotees gather for the Sandhya (evening) prayers, offering their final devotion of the day.

This moment is especially powerful. Many families bring their children after school, teaching them the importance of prayer and reflection. For adults, it’s a chance to release the stresses of the day and find peace before returning home.

Festivals at Siva Aalayam

While the temple is special every day, it shines brightest during Hindu festivals.

Maha Shivaratri: Devotees stay awake all night, chanting and meditating, seeking the blessings of Lord Siva.
Thaipusam: Celebrated with offerings, prayers, and colourful rituals.
Deepavali (Diwali): The festival of lights transforms the temple into a glowing hub of joy and togetherness.
Navaratri: Marked with music, dance, and spiritual gatherings.

On festival days, the temple is packed with families, musicians, and devotees. The rhythmic beating of drums, traditional bhajans, and the aroma of freshly prepared prasadam (blessed food) create a vibrant atmosphere that draws even non-Hindus from the community to witness the celebration.

More Than a Temple

What makes Siva Aalayam truly remarkable is that it’s more than just a religious site. It is:

A cultural school – preserving language, music, and dance.
A community hub – hosting charity drives, interfaith tours, and cultural classes.
A guardian of heritage – ensuring that Tamil and Hindu traditions thrive in Cape Town.

For residents of Rylands Estate, the temple represents continuity, belonging, and identity. It’s a place where generations come together — grandparents teaching grandchildren the same prayers they once learned as children.

Living Near Siva Aalayam Temple

For anyone considering moving into Rylands Estate, the presence of Siva Aalayam adds a layer of cultural richness and community spirit. The temple hosts open events, making it a welcoming space not only for Hindus but also for those curious about Cape Town’s multicultural landscape.

✅ Lake Properties Pro-Tip:
When looking for a home in Rylands Estate, remember that local landmarks like the Siva Aalayam Temple enhance the neighbourhood’s value. They provide more than convenience — they create a sense of community, cultural identity, and shared celebration. For families, this makes Rylands not just a place to live, but a place to belong.

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

Russell Heynes

Lake Properties

083 624 7129

www.lakeproperties.co.za

info@lakeproperties.co.za

Day in life of Taronga Road Mosque

Lake Properties
Lake Properties

Walking down Taronga Road is one of those small, everyday journeys that quietly stitches a neighbourhood together. The mosque—locally known as Taronga Road Mosque or Masjied Ghiedmatiel Islamia—sits like a reassuring anchor on the street: visible from the road, familiar to elders and children alike, and a place where daily rhythms are measured in calls to prayer, murmured Qur’an study, and the rise-and-fall of community life.

A little history

What many people don’t realize is that the building’s story reflects the changing face of the area. The site was once a church complex that, around the turn of the millennium, was acquired and repurposed to serve the growing Muslim community in Rondebosch East and surrounding suburbs. Over time it evolved into a proper mosque and madrassah (religious school), taking on a new identity while continuing its role as a communal place of gathering and ritual.

The daily rhythm

A typical day at Taronga Road begins early. The pre-dawn quiet is broken gently by the adhan (call to prayer) and small groups gather for Fajr in the soft morning light. Through the day the mosque hums with activity: children arriving for madrassah classes after school, volunteers prepping parcels for charity distributions, older community members involved in study circles, and young people meeting for youth programmes and mentorship sessions. On Fridays the mosque fills—Jummah prayers bring an uplifted, communal energy that changes the feel of the whole street. These patterns make the mosque less of an isolated institution and more of a daily social heart for many families.

What the mosque does for the community

Beyond prayer, Taronga Road Mosque plays several practical and social roles that benefit the immediate neighbourhood:

Religious education & youth activities: The madrassah gives children a place to learn language, scripture, and values, while youth groups provide structure and mentorship.
Social support: The mosque runs charity drives and provides assistance to families in need—food parcels, Ramadan iftar events, and community fundraising—helping to reduce hardship in the locality.
A meeting place: From marriage counselling to elder meet-ups and talks on Islamic history and heritage, the mosque hosts events that strengthen social ties and preserve cultural practices.
A civic presence: As a visible, organized community institution, the mosque also becomes a point of engagement between residents and local civic processes—helpful when the neighbourhood faces issues that require collective action.

These services create real, measurable value for day-to-day life: somewhere to turn in hard times, a place for children to be supervised and guided, and a hub where neighbours keep an eye on one another.

Challenges the mosque and community face

No community institution exists without tensions. In recent years Taronga Road Mosque has been the subject of internal disputes around governance and trustee appointments—issues that have sometimes divided parts of the community and led to public calls for accountability and more transparent management. These governance challenges are important to understand because they shape how effectively the mosque can deliver its social programs and how inclusive it feels to different community members.

Visiting Taronga Road Mosque — a short guide

If you’re planning a visit:

Wear modest clothing (women: scarf recommended; both: clothes that cover shoulders and knees).
Remove shoes before entering the prayer hall.
Friday (Jummah) is busiest—arrive early if you want to observe.
If you’re unsure about etiquette or timings, check the mosque’s social pages or contact the Rondebosch East Islamic Community Trust (REICT) on Facebook/Instagram for the latest schedules and community announcements.

Why it matters for the neighbourhood

Places like Taronga Road Mosque do more than host prayers. They anchor daily life: they’re where children make friends, elders find company, volunteers learn leadership, and neighbours swap practical help. For anyone assessing local neighbourhoods—whether moving in, investing, or simply exploring—landmarks like this are signifiers of social capital: an active community institution often correlates with stronger neighbourhood networks and a more resilient local culture.

🌿 Lake Properties Pro-Tip: When you’re evaluating a suburb, walk the streets at different times of day. Visit community landmarks—mosques, churches, community halls—and listen. The programs they run, and how engaged residents are with them, tell you a lot about neighbourhood cohesion and long-term desirability. For listings near Taronga Road, a stable, active community trust and visible youth and welfare programs are pluses worth noting.

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

Russell Heynes

Lake Properties

083 624 7129

www.lakeproperties.co.za

info@lakeproperties.co.za

Problem Properties Explained: How to Spot and Fix Them.

Problem Properties Explained: How to Spot, Understand & Fix Them

Buying or selling property in South Africa can be exciting—but it can also be complicated. One term that often comes up in real estate circles is a “problem property”. But what does it really mean?

A problem property isn’t necessarily unsafe or unlivable, but it does have issues that could affect its value, marketability, or financing. Understanding these challenges before buying or selling can save you from unexpected headaches, delays, and costs.

What Is a Problem Property?

In simple terms, a problem property is any property that presents obstacles to a smooth sale or purchase. These obstacles may be structural, legal, financial, or location-related. For buyers, problem properties can mean additional repair costs or difficulties securing a bond. For sellers, these issues may result in slower sales or lower offers.

Common Types of Problem Properties in South Africa:

Structural Issues:
Properties with major cracks in walls, uneven floors, leaky roofs, or foundation problems. Structural defects often require costly repairs and may scare off buyers.
Illegal or Unapproved Alterations:
Renovations or extensions done without municipal approval can create legal headaches. Banks may refuse to finance these homes, and sellers may need to pay for permits retroactively.
Financial Complications:
Properties tied up in arrears, sequestration, or unpaid rates and taxes are harder to sell. Lenders are cautious about these homes, which can delay bond approval.
Zoning and Land Use Issues:
Some properties may be in areas where certain activities are restricted, or the property may not comply with municipal zoning. This can affect both renovations and resale value.
Maintenance Neglect:
Homes left without care—overgrown gardens, outdated plumbing, or faulty electrics—can be off-putting to buyers. Even minor neglect can add up to a large investment to restore the property.
Location Challenges:
Properties in areas with high crime, traffic noise, flooding risks, or poor resale trends may be considered problem properties. Even the best home can struggle if the location is undesirable.

Why Buyers Should Pay Close Attention

Buying a home is one of the largest investments you’ll make. Overlooking a problem property can lead to:

Unexpected repair or renovation costs.
Difficulty securing a home loan, as banks may refuse bonds on certain problem properties.
A challenging resale process in the future.
Legal disputes over unapproved renovations, ownership, or municipal compliance.

The key takeaway? Due diligence is critical. A thorough property inspection and careful review of legal and financial records are non-negotiable steps when buying in South Africa.

How to Spot a Problem Property

Before making an offer, look for red flags that indicate a property might have issues:

Visible Cracks or Foundation Problems
Check walls, ceilings, and floors for cracks. Hairline cracks are normal, but diagonal cracks or widening gaps may indicate serious structural problems.
Signs of Water Damage
Damp walls, mould, or water stains may mean plumbing or roof issues. Ignoring these can lead to serious long-term damage.
Unapproved Renovations
Ask the seller for municipal-approved building plans. Unapproved alterations could prevent bond approval or require costly retroactive permits.
Title Deed and Legal Checks
Ensure the seller is the rightful owner and that the property isn’t under dispute. Also, check for bond cancellation requirements or outstanding rates and taxes.
Neighbourhood and Area Research
Investigate local crime statistics, school proximity, transport links, and future development plans. Sometimes the property itself is fine, but the location can pose long-term challenges.
Maintenance and Cosmetic Issues
Look beyond aesthetics—outdated electrical wiring, broken windows, or overgrown gardens can all signal neglect and hidden costs.

How to Fix or Improve a Problem Property

Not all problem properties are deal-breakers. Many can be fixed or improved to make them market-ready:

Professional Inspections:
Hire a qualified property inspector to identify hidden issues and provide cost estimates for repairs.
Legal and Municipal Compliance:
Ensure all renovations are approved, and unpaid rates and taxes are settled. Consider engaging a lawyer if ownership or zoning issues exist.
Repairs and Upgrades:
Structural repairs, plumbing, roofing, and painting are investments that increase both market value and buyer confidence.
Cosmetic Improvements:
Simple upgrades like fresh paint, clean landscaping, and modern fixtures can make a huge difference in buyer perception.
Transparency is Key:
Sellers who disclose issues upfront often gain trust with buyers and can negotiate sales more smoothly.

The Role of a Professional Estate Agent

Navigating problem properties requires experience. A skilled estate agent can help by:

Pricing the property realistically for the market.
Marketing it to investors or buyers willing to handle renovations.
Recommending trusted contractors and inspectors.
Guiding buyers and sellers through legal, municipal, and financing processes.

✅ Lake Properties Pro-Tip:

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

Russell Heynes

Lake Properties

083 624 7129

www.lakeproperties.co.za

info@lakeproperties.co.za

Lake Properties Lake Properties

First-Time Buyers’ Checklist the South Africa 2025 Edition

Lake Properties Lake Properties

Quick snapshot: the top things to sort first

Check your credit & gather documents.
Get pre-qualified / get your bond in principle.
Budget for deposit and transfer/bond/attorney costs.
Hire a good agent and schedule inspections.
Read the Offer to Purchase carefully — include sensible conditions.
Submit bond paperwork fast after OTP is signed; transfers can take weeks.

1) Money first — know what you can afford (the honest truth)

Before you fall in love with a house, get math-serious:

What lenders look at

Income vs debt (your debt-to-income ratio).
Salary slips, bank statements, ID, proof of residence and the signed Offer to Purchase (OTP). These are the essential documents banks ask for when you apply.

Deposit

While some 100% home loans exist, putting down 10–20% is still the safest route — lowers your repayments and improves bank appetite.

Hidden and one-off costs to budget (not negotiable)

Transfer duty (tax to SARS on certain purchase prices).
Conveyancer (transfer) fees and bond registration fees (attorney costs).
Valuation fee (bank valuation), compliance certificates (electrical, gas if needed), FICA admin, moving costs, initial insurance and possible levies or rates arrears. (Expect transfer/bond admin totals to run into tens of thousands depending on price.)

2) Grants & government help — are you eligible?

If your household income is between roughly R3,501 and R22,000 per month, you may qualify for FLISP (the Finance-Linked Individual Subsidy Programme) or similar first-home subsidies — these help bridge the deposit/gap for qualifying first-time buyers. Check the official FLISP pages and provincial housing offices for the application process and documentation required.

3) Pre-qualification and bond approval — the timing and why it matters

Pre-qualify (sometimes called pre-approval or approval-in-principle): shows sellers you’re serious and gives you a realistic price range.
How long for approval? If your paperwork is complete, many bond originators/banks can give an outcome in principle quickly (48 hours to a few days). Full approval — including valuation and underwriting — usually takes about 7–14 days in typical cases, though occasional delays happen.

Tip: Use a reputable bond originator to compare offers across banks — it can save you thousands in interest and often speeds up the application.

4) Transfer duty & example calculations (SARS rules from April 2025)

SARS updated the transfer-duty threshold effective 1 April 2025. There is no transfer duty payable on properties up to the threshold (check the exact threshold for the tax year when you buy). For values above it, rates are progressive — SARS publishes the bands and formulas. Always confirm the current threshold on SARS before budgeting.

Example math — do it step-by-step (useful so you can verify):

If purchase price = R1,500,000 and the zero-duty threshold is R1,210,000:
1. Subtract threshold: 1,500,000 − 1,210,000 = 290,000.
2. Duty on that slice = 3% × 290,000 = 8,700.
  So transfer duty = R8,700. (Illustrative — use SARS calculator for exact.)

Another quick example: R2,500,000 falls in a higher bracket; SARS rules are progressive (you combine fixed amount + percentage on the remainder). For complex amounts, use an online transfer duty calculator or your conveyancer.

5) Typical conveyancing & bond fees — what to expect

Bond attorney fees / bond registration fees: set by scale and vary by bond size and complexity — rough published guides show step increments (these are legal fees to register the bank’s bond on the Title Deed). Plan for several thousands to tens of thousands depending on loan size.
Transfer (conveyancing) costs: the conveyancer prepares transfer documents, pays deeds office fees, arranges rates clearance certificates, and handles SARS payment where applicable. These too are scale-based and can be estimated with transfer calculators provided by conveyancers/attorneys.

6) Step-by-step timeline — from “I like it” to “keys please”

Find a property and sign an Offer to Purchase (OTP) with sensible conditions (finance clause, inspection clause, clear date of occupation).
Apply for bond immediately using the signed OTP. Banks will request documents and order a valuation. Expect an in-principle answer quickly and full approval usually within 1–2 weeks if documents are complete.
Conveyancer begins transfer once bond is lodged (seller usually appoints transfer attorney but buyer pays). Conveyancer requests compliance certificates and rates clearance; lodges transfer with Deeds Office. Most transfers take ~8–12 weeks, but can be longer if there are municipal delays or title issues.
Bond and transfer register at Deeds Office → bank pays the seller and bond registers → you collect keys when occupational terms are satisfied.

7) Inspection checklist — look like you mean business

Before unconditional acceptance, either include an inspection condition in the OTP or arrange an independent home inspection. Key checks:

Roof & gutters (any leaks?).
Damp & mould (inside and under floors).
Electrical wiring (old fuse boards, non-compliant wiring).
Plumbing (pressure, leaks, geyser condition).
Structural cracks or subsidence signs.
Boundary/fence lines and servituties (are there shared rights of way?).
Security, burglar bars, alarms and neighbourhood safety.
For sectional title: check levies, water/electricity history, sinking fund status.

If serious defects show, either renegotiate, ask for repairs, or walk away if the seller refuses.

8) Negotiation & common mistakes first-timers make

Don’t skip finance clause in the OTP — this protects you if bond finance falls through.
Never stretch to the max. Lenders give you an amount — that doesn’t mean you should borrow it all. Budget for life changes (interest hikes, children, job changes).
Check levies & municipal accounts closely for sectional title units. Hidden arrears can bite you.
Don’t assume “as seen” is free of problems. Photos can hide damp, poor finishes, or suspicious DIY. Always inspect in person (and if possible, get a pro).

9) Practical printable checklist (tick as you go)

[ ] Get credit report, fix errors.
[ ] Save for deposit & emergency buffer.
[ ] Gather documents: ID, proof of residence, 3 months’ payslips, 3 months’ bank statements, latest municipal account (if available), signed OTP when ready.
[ ] Get bond pre-qualification / in-principle approval.
[ ] Book independent inspection.
[ ] Check for FLISP/subsidy eligibility if applicable.
[ ] Budget for transfer duty, conveyancing, bond fees (ask conveyancer for estimate).
[ ] Confirm dates for occupation, transfer and bond registration with conveyancer & agent.
[ ] Finalise insurance from registration date.

10) FAQ (short & direct)

Q — Do I always pay transfer duty?
A — No: there’s a zero-duty threshold. Values below the SARS threshold attract no transfer duty; above it, rates apply as per the SARS bands (check the current table).

Q — How long will transfer take?
A — Usually 8–12 weeks from OTP signing, though it can be shorter or longer depending on the municipality, Deeds Office backlog and how quickly parties respond.

Q — What documents should I prepare right now?
A — ID, proof of residence, payslips, bank statements, signed OTP (once you have it) — banks publish similar checklists you can follow.

SEO package (use this under your post meta)

Suggested title: First-Time Buyers’ Checklist South Africa 2025 — Complete Guide for Buying Your First Home
Meta description (160 chars): Step-by-step checklist for first-time buyers in South Africa (2025). Budget for transfer duty, bond fees & FLISP eligibility — buy smart.
Focus keywords: first-time buyers South Africa 2025, buying your first home SA, property checklist South Africa, first-time homebuyer checklist South Africa
Suggested headings to reuse as H2s: “Get your finances ready”, “Transfer duty explained (2025)”, “Home loan checklist”, “Inspection and due diligence”, “Common first-time buyer mistakes”.

Lake Properties Pro-Tip (the bit that actually helps)

Don’t buy alone. Put together a trusted team before you sign anything: a reliable estate agent who knows the suburb, a bond originator or bank loan specialist, and a conveyancing attorney you can trust (ask for a written estimate of transfer and bond costs). Bonus: ask your agent to include a reasonable finance clause and inspection clause in the Offer to Purchase — these two clauses protect a first-time buyer more than price haggling ever will.

If you want, I can convert this into a one-page printable PDF checklist for Lake Properties’ clients (branded, ready for your blog as a lead magnet). Would you like that next?

Sources & further reading (for accuracy and calculators)

SARS — New transfer duty rates effective 1 April 2025.
FLISP / Provincial housing pages — eligibility & income brackets for first-time buyer subsidies.
What documents banks ask for when applying for a home loan.
Bond registration and attorney fee guidance (fee scales vary by bond size).
Full property transfer & timing guide (steps and typical timelines).

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

Russell

Lake Properties

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

Lake Properties Lake Properties

Why is important to let the bank know of your intention to cancel your bond. How long do.you have to cancel his bond before you incur a penalty.

Lake Properties Lake Properties

Why tell the bank early?

Most South African banks expect 90 days’ written notice before you cancel your home loan. If you cancel sooner, they can charge an early termination fee (often called “90-day penalty interest”). The fee is essentially up to three months’ interest on your outstanding balance, and it reduces day-by-day as your notice period runs down. If your bond is cancelled after day 90, the early termination feeq is R0.

Legally, this sits under section 125 of the National Credit Act, which lets a credit provider levy an early termination charge within clear limits. In practice, banks implement it as “up to 90 days’ interest, less the notice you actually gave.”

What counts as “notice” and when should you give it?

Form: Send written notice to your bank’s home-loans department (email/portal/branch instruction). Keep proof.

When: As soon as you decide to sell—you do not need a buyer yet. This lets your 90-day clock run while marketing and transfers happen.

If your sale registers before day 90: you’ll pay a pro-rata portion (e.g., cancel on day 60 → roughly 30 days of interest).

If your property hasn’t sold by day 90: some banks require you to renew the notice so the clock keeps running. Check your bank’s rule.

What actually happens after notice?

1. Bank logs your notice and starts the 90-day clock.

2. Once there’s a signed offer, the bank appoints a cancellation attorney and issues cancellation figures to the transferring attorney. You, the seller, pay the cancellation attorney’s fee. (Some lenders/new lenders run promos to cover that fee, but not your early termination fee.)

3. Access bonds: when cancellation figures are issued, most banks freeze your access facility. Don’t rely on drawing those funds after this point.

4. You keep paying your monthly instalment and insurance until registration day. Then the bond is cancelled at the Deeds Office and your loan closes. Typical cancellation timeline once attorneys start is ±1–2 months.

Quick example (illustrative)

Outstanding balance R1,000,000 at 11% interest when you give notice.

Full 90-day fee ≈ 90/365 × 11% × R1,000,000 ≈ R27,123.

If transfer registers on day 75, fee reduces to remaining 15 days ≈ R4,520.

If it registers on/after day 90, no early termination fee. (Your bank still charges normal daily interest up to settlement day.)

Common ways to reduce or avoid the penalty

Start notice early (ideally before listing). If transfer happens after day 90, the fee is waived.

Ask your conveyancer to target registration after day 90 if you’re close—sometimes a minor lodgement timing tweak helps.

Exceptions: many banks waive early termination fees for deceased estates and sequestrations, and some waive it if you take a new bond with the same bank (policy-dependent). Note that FNB currently advertises no early termination charges on cancellations—but always confirm current policy in writing.

Switching banks (bond switch): the 90-day rule still applies; some new lenders cover cancellation attorney costs but not your early termination fee.

Other costs to expect (separate from the penalty)

Cancellation attorney fee (you pay; set by tariff/firm).

Bank admin fee for issuing cancellation figures.

Normal interest up to the settlement date.

These are standard across banks when a bond is cancelled via transfer.

Pitfalls to avoid

Waiting for a buyer before giving notice → compresses timelines and often triggers most of the fee.

Assuming “paid up” = “cancelled” → a formal Deeds Office cancellation is still required.

Planning around access-bond funds → those are typically frozen once figures are issued. Move any needed cash before that stage (without jeopardising settlement).

Fixed-rate loans: separate breakage fees can apply if you exit during the fixed period—this is contractual and in addition to the 90-day framework. Check your fixed-rate addendum.

Lake Properties Pro-Tip

Give written notice the day you decide to sell and diarise the 90-day date. Ask your conveyancer to aim registration for on/after day 90 if timing is tight, and confirm in writing with your bank whether any waivers apply (deceased estate, sequestration, or same-bank rebond). If you have an access bond, move any funds you’ll need before cancellation figures are requested so you’re not caught by a frozen facility.

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

Russell

Lake Properties

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

What upgrades add no value to your house in South Africa

Let’s go deeper into why these upgrades add little or no resale value in South Africa and how they can even backfire when you try to sell.

1. Overly Personalised Décor

The issue: Buyers are trying to imagine their life in your house. If your décor is bold, unusual, or trendy in a way that’s very "you," they see it as a renovation job, not a selling point.
Example: A neon-pink kitchen backsplash or animal-print wallpaper in the lounge.
Impact: Buyers mentally subtract the cost of repainting or retiling from your asking price.

2. Luxury Features for Your Enjoyment Only

The issue: Features like indoor saunas, cinema rooms, or water features are expensive to maintain and appeal to a small percentage of buyers.
Example: Spending R200,000 on a built-in fish tank that needs constant upkeep.
Impact: Buyers who don’t want it may offer less to cover removal or conversion costs.

3. Over-the-Top Landscaping

The issue: South African buyers appreciate a neat garden, but expensive, high-maintenance landscaping often becomes a burden rather than a benefit.
Example: Imported palm trees, koi ponds with filtration, manicured topiaries.
Impact: Potential buyers worry about the water bill, maintenance contracts, and municipal water restrictions during drought.

4. Unpermitted Additions

The issue: In SA, any structural change must be approved by the municipality. Without plans, transfers can be delayed or cancelled.
Example: An enclosed patio or extra flatlet without council approval.
Impact: The buyer’s bank may refuse to finance, forcing you to drop the price or fix the paperwork before selling.

5. Over-Customised Kitchens or Bathrooms

The issue: Kitchens and bathrooms sell homes — but only if they’re broadly appealing. Over-spending on imported finishes that don’t match local expectations wastes money.
Example: Installing R80,000 imported taps when mid-range taps would have the same perceived quality for buyers.
Impact: You rarely recover the excess cost because buyers compare your home’s price to others in the area, not to what you spent.

6. Swimming Pools in the Wrong Market

The issue: Pools are great in certain suburbs, but in others, they add maintenance and safety concerns without adding value.
Example: Adding a pool to a R1 million home in a first-time buyer market.
Impact: Families with small kids see it as a hazard; buyers on a budget see higher upkeep costs.

7. Converting a Bedroom into Something Else

The issue: The number of bedrooms is one of the biggest price drivers in South African property valuations. Reducing bedrooms can drop your price bracket entirely.
Example: Changing a 3-bedroom house into a 2-bedroom home with a huge walk-in closet.
Impact: You lose buyers searching for “3-bed homes” in online listings.

8. Ultra-High-End Security Systems

The issue: Security sells, but it’s expected, not paid extra for. Going beyond standard alarm, electric fence, and beams rarely boosts value.
Example: R300,000 biometric gates, panic rooms, or military-grade CCTV.
Impact: Buyers appreciate it, but they compare pricing to similar homes without it — meaning they won’t pay proportionally more.

✅ Key takeaway for South African sellers:
Most buyers focus on bedroom count, overall condition, location, and approved building plans. Upgrades that are too personal, too expensive for the area, or too specialised won’t get you your money back — and in some cases, they lower your negotiating power.