Property Information

Question 1

What information should one obtain before investing in property?

Answer 1

1. Neighbourhood
2. The site
3. Improvements on the site
4. Financial aspects concerning the property

Question 2

Information concerning the Neighbourhood

Answer 2

1. Location
2. General condition
3. Reputation
4. Recreational facilities
5. Zoning of open spaces and future developments
6. Environmental issues

Question 3

Information Pertaining to Site

Answer 3

1. Title deed
2. Ask owner on any:
   a. Limited real rights
   b. Legal restrictions
3. If vacant land – check for building restrictions
4. Examine boundaries for encroachments

Should also get an expert to check if soil is suitable

Question 4

Information about Improvements

Answer 4

1. Type of construction material used
2. Roof and material used
3. Year when erected and builder (if known)
4. Layout of house and positioning on site
5. Floor area of house and outbuildings
6. Accommodations offered
7. Kitchen area and stove, laundry
8. Outbuildings; garage; storerooms; domestic rooms
9. Security features
10. Fixtures to be removed by seller
11. Moveable property included
12. Recreational facilities
13. Garden improvements
14. Condition of improvements; repairs and maintenance required
15. What extent the property lends itself to alterations/extensions

Question 5

Information about Finances

Answer 5

1. Asking price
2. Like market value
3. Municipality valuation
4. Estimated replacement cost (insurance value)
5. Date of last sale and sale price
6. Details of existing mortgages
   a. Balance outstanding
   b. Monthly payment
   c. Bond holder
   d. Interest rate
7. Rates and taxes/levies