It's 2024 and I'm in the process of buying my first apartment. I've been camped here for the past week, because honey you are my inner voice, secret weapon and encyclopedia. Thank you
Yes I definitely took note you're not a Financial Advisor but I just loooove ❤ how you spread your passion the right way...putting this important information out there so convenient...❤ of course 1 still do own further research but info I get doesn't sound like whole news Japanese language to my ears 😂😂😂. After following you for 2 years now I feel safe to say I am ready to buy myself a home... The credit score is good, affordability status promising well I won't lie this one wasn't easy ... but yeah God bless you more with that wisdom and please keep sharing it❤❤❤
The banks evaluators usually are the people who make the actual price of the house. Should the bank offer a loan that is less than the seller asking price you must know that a price of the property has been inflated.
Wow, great content, I am enjoying your videos... Financially education is what we are lacking here in South Africa.. How I wish all South Africans can follow your channel, especially youth... Please talk to Aubrey Tau akunike one season lapha kuMoja Love, data is an issue for lot of South Africans. Ngiyabona amaqola maningi lapha kuma comment o-Scott...
the right choice of investment has always been a big problem for me because I know that picking up the wrong investment will leave a big scar in the future...
The best thing that should be on every wise individual's list is Investing into different streams of income that don't depend on the government to bring in money especially now the pandemic is hitting the economy pretty hard
The world is gradually moving out of the I work for my boss era and people who choose to be entrepreneurs are securing a brighter future for themselves
Bunny, please cover the topic of '99 year lease' when purchasing property🙏🙏🙏, which is one of the clauses for apartments in Waterfall, midrand. The concept seems so ridiculous to me!
Thank you so much Nicolette!!!!!!!!!!!! You're a Godsend 😇🥰 I honestly didn't know we can ask those questions from the banks!!! Nicolette! You deserve the biggest hug!
"They can sell ice to an eskimo" is the saying Lol. As im watching this im realising every point you are talking about is in the process of happening. I asked about the bond originator and he contacted me immediately after the viewing. He then came back when I pointed out some point I felt would work against me and he said we will take it step by step. A change from we need a b c docs. The house looked like there would be a lot of concealment. Im learning a lot here. Also it was mentioned that the house is coming in very low for its size. I will not go to the lighthouse website(just learnt in another one of your videos). I was like in love with the property. Yaz I saw myself in that house as i stepped in. Im putting in the breaks and going back to the drawing board. Thank you for the insights.
I see why majority of people go back home to build mansions there. Magaeng there's no buying face or committing to lies banks and middles men will make you feel like you don't deserve any clarity, just sign here and there, I learned a lot from buying my first car. Thanks God it was brand new.
Thought it only happened to me. Bought a plot for double the price because I had told the guy I want two plots as I had seen about how much 1 costs. Hmm, guess what, he told me I could get only 1 plot for that amount. That was my 1st property purchase...
The best way is should you see a neighbor around whilst checking out the house, ask the telephone number of the house owner and kick out the agent 5% profit from sale is too much 🤣🤣🤣🤣🤣🤣 always negotiate dont settle for the sellers price tag unless the house is new. And find your own conveyancor or rather look for a competitive quote from few of them..
I know NO Mr Thompsom. You are being scammed. My replies will have a tick next to them. why would I just randomly speak crypto when the video is about property.
Thanks for the info... I'd like to go for installment Sales Agreement but yet I don't know where to go about finding a seller, most that I had come across they not willing to enter into such method or way, so I was wondering if you would share with us where or how do we go about finding sellers who wants and willing to enter into installment Sales Agreement contract
Good advice on how to get any property...doing the 12th month plan& planning on sorting out credit history, 30% of current rental & getting accustomed to property lingo 😁
Hey man, something just isn't right. Literally almost purchased a house yesterday, the agent and owner were both there. The guys even spoke Venac... there was a funny noise coming from the neighbors and we asked, what's that. They said the noise was never there. We spoke, owner said we should be aware he has dropped the the prize by 150K already so he can only go down by 50K. We said we liked the house, but we want to study the area. We left the property. We came back and saw man drive by. We asked him how the area was, said its a safe area. But then said he was annoyed and stressed by the neighbors of where we were intending buy. Red flags. Apparently our neighbors were students, and the owner actually started renting out the property. We thanked the man, and we aren't buying
Aowa, now in hindsight 1. what could you have done to detect the windows are not properly sealed from elements? Was it a new development..I guess not. 2. What could you have done to detect the toilet clogging issue? I bought a house and found that the water is yellow after moving in (rusted) so I could have opened taps. I found switches closed and not working after moving in. They claimed it was done to issue the electrical certificate. Which is fine until you realise there are no light switches for some areas (pantry, entrances, foyer). I could have simply come at day and at night. I don't understand something. The ceiling was fine..it looked old like the house but fine. When we moved in the whole house leaked. Nothing showed it's possible before and ceilings were not painted before we bought so likely our poor luck
Hi Nicollet thank you so much my dear you are a God send to me..next time can please talk about things I have to look at when I buy a house for a cash( not through the bank )I’m planning to buy a house in a few months from now so please I need your advice so that I don’t get robbed or scammed 🙏
@@FinancialBunny yeah. Buying a house for my mom with my sister. I just think we trusted the sales agent too much (smoothe tongue) so we didn’t verify everything. Saw a show house for a development and assumed that our property would be the same, but turns out those small differences matter especially for a property purchase. Now my mom is disappointed and we are far along the purchase process. Lesson learnt though !
I know right? Sales agents are the people to be most careful with. Also be very careful about something changing in the process, especially if it appears to be in your favor and it's urgent. Be very careful
I was once scammed in a sale in DBn where I saw a price online with 10k less. But when I signed it has changed and they said it's a mistake the real price was 10k more🙄
I am sorry about your experience Nicolette. My wife is a Real Estate agent in Durban and that is not how she operates. She does work with bond originators and some of the clients choose to work with their own banks, but she is honest with her clients. Nonetheless, it is always good to be careful.
Thanks for the insight, the irony is on house hunters international tv show the estate agent always asks for the budget, also they only look at 3 houses. 3 houses for a long-term commitment of a house is just not enough
@@sisimazwi1890 yep that's what it looks like on the show. It's people doing house hunting in a country that they're immigrating to. It's on the travel channel on DStv, that's if you're in south Africa of course
Hei lady thank you so much for your informative sessions. Can you please consider making a video of how to buy when you are a foreigner in RSA. Can one by if they dont live there 42/7?
Hey, Nicolette! I’m trying to pay off all my debt by the end of this year and then saving a deposit for a mortgage for the first 6 - 9 months of next year. By this time I would expect my credit score to be very low (my goal is to someday get it to zero because I don’t want any debt but houses are expensive). What’s the best way to get a mortgage loan without having to have a credit card or accounts open?
@Anne Day a few years ago I paid off my credit card and closed the account. I just feel better using money I have, I don’t even have other retail accounts (never had). I have a car installment that I’m paying extra on so maybe that will help too? But it will be paid off by the time I buy a house
A silly question on property ownership. do we ever really own houses in metropolitan areas? I mean After paying the bond in full, and you get your title deed, you still continue to pay for property rates .... is that really your house or you renting forever from the municipality?
I think I heard that if your buying from an estate you actually buy your own house ND land with in your property. But you still pay for the entire land cause the whole land doesn't belong to you. It too mudy be maintained. Just heard so. Not sure
Thank you Nicolette for the sound advise. Can you also do for buying a car. The sales agents always corner me into using their banks even if I have spoke to my bank. I think they have a cut
How is the potential buyer going to know what the sellers want in their pocket?🤔 That's a discussion between the seller and an agent, and as an agent I don't have to disclose that to the buyer.
Please correct me but doesn't that pre-approval assume that you are using all your disposable money to pay back the loan? also.... my right ear is lonely.
Thank you Nic for educating us. Can one buy a house after having an clothing account sent to collections and I have paid my dept off holding my paid up letter can I qualify for a bond?
I think they are doing me dirty im that process as im watching the video, crazy how they were so nice to me before i signed the OTP, then yoh they changed on me now because the bank is not fincancing everything they talked about, now they have stories because im a first time home buyer, my private banker is like "'you can take a credit card or a loan with us those are your 2 options"' yo im soo mad because they even tried to trick me into like i dont afford the bond because of this that while they know what they are doing now they pulling that card of you can take a credit card with us or a loan so u can pay... i asked them if i take a credit card or loan normally the rate is higher than the bond rather why not combine them, they said something i dont remember i am soo angry more than angry i am disappointed sheim 😪😪
So intuitive. Love this financial education. Got a question. For a new development , is it advisable to buy from a developer directly or an real estate agent ?
The problem though is, it's difficult to get hold of the developer, they always put the details of the agent instead of the contact details for the developer
Hi Financial Bunny, My girlfriend bought a property last year in June and till to date it hasn't been registered. is it possible for her to cancel the whole process? will she be liable to pay anything?
@@motlalentoakhampepe9553 Was there an agreement of sale? It's a contract with all the details of the purchase. It should also have the conveyances details (lawyer transfer the property.) Call the conveyancer & ask what is happening. Without a agreement of sale it is not valid & she can struggle to have the house transferred. Call estate agents board at 0872853222 for advice. I hope she has not been scammed by a fake estate agent. Goodluck!
I'm planning to buy an apartment in a new development, what are some the costs that I need to look out for even though there are no transfer fees. I Have my 10% deposit ready but I fear there might be more fees waiting for me.
As far as I know you don't pay transfer duty but you pay transfer fees which is the money you pay at the deeds office and the attorney fees which you pay the attorney for registering your bond at the deeds office. Then you have to pay bond registration costs. ( I might be wrong , so I stand corrected)
I'm a Capetonian based in DK and I might be interested in investing in one of the properties/apartments you quickly filmed. Can you pls send me Lions prides website
Geez sorry for your experience. Your agent was not honest with you. I've bought with a bond originator and bought without one. All I'll say is in both options, be sharp, negotiate waya waya. Do not buy with your emotions. Do your homework before you even start speaking to an agent.
I dont agree with a lot of the stuff you saying here about agents. Agents, like myself do care what the buyer is getting into. I even go as far as helping them work out what the monthly expenses will be including their own so that they understand what they getting into. I even give prepare them for the worst to say if you lost your income for like 3months will you be able to raise your monthly expenses. So no we do care about what happens to our clients we not that savage
@@FinancialBunny dont do the same with agents. Rather say I had this experience with this specific agent/agency. Plus the title of this video says it all... you in a position of influence I dont think its cool that you adding spice to the loss of someones bread because of an experience you had with a certain agent(s)
@@lehlohonolobanda1998 was searching for an investment property in one of the new developments and sales agent didn't bother to explain extensively and properly about the property,apart from asking me for payslups and bankstatements.Never bothered to respond because you could tell they're all about sales.So,Nicolette isn't being spicy but some sales agent would do anything for a sale!!
