Buyers Agent

The Dannie Kagan team prides itself on its aptitude to accurately source the property you are looking for, be it your own home, holiday house or just purely for investment. With the aid of dkp’s “Property Search Form”, we can do this before we even meet you!

We will put our minds and hearts into finding the right property for you. We’ll do all the leg work, liaise with sellers and agents and offer you only those properties that meet your exact requirements and budget. We will scour the market thoroughly, including those properties listed exclusively with other estate agents.

This way, you the buyer will have a complete overview of ALL properties that could be suitable. You will enjoy our full attention until you are satisfied. We guide our clients through every aspect of the legal and financial requirements needed to acquire property, as well as organizing bond/mortgage finance.

When the final choice is made, we then negotiate on your behalf with the seller or sellers agent to break the best possible price for you.

At what cost? When the deal is finalized, we share the selling agents’ commission. Therefore this unique service is offered to you at absolutely no cost, with guaranteed satisfaction of service, hence our constant referrals!

Please contact us for a "Property Search Form" to be sent to you.

 Property Sales

 If you would like to sell your home, we will gladly market it for you with discretion and professionalism, offering it exclusively to our data base of buyers. You won’t be asked to tolerate loud advertising boards or highly visible public marketing, should you wish. Many of our sales only become visible when the removal van arrives! We will ask to show your property only to genuine buyers with needs that match yours.

Please contact us for a completely confidential assessment of your property.

Buying property in South Africa
All contracts to acquire immovable property must be in writing and signed by both Buyer and Seller.  Estate Agents will draw up this contract which is called an Offer to Purchase.  Once signed, this constitutes a valid and legally binding contract from which neither party can withdraw without incurring legal consequences, save for certain instances where the agreement is subject to certain conditions which are either fulfilled/not fulfilled.

 Mortgages for Non-residents
A non-resident may only borrow up to a maximum of the amount he invests into the purchase of the property, which translates into a 50% loan.  There is a registration cost levied on Bonds which is dependant upon the value.

Transferring the property from Seller to Buyer
The registration of a property transaction is handled by a specially qualified legal practitioner known as a Conveyancer.  It is customary for the Seller to appoint the Conveyancer and the Purchaser to pay the costs.  The Conveyancer prepares the transfer documentation that, after signature by the Purchaser and Seller, is lodged together with the cancellation of any existing mortgage bonds and new mortgage bonds to be registered in a regionally located Deeds Registry.  The deeds are subject to an examination process whereafter they are made available for registration.  On date of registration of transfer, all existing mortgage bonds by the Purchaser in favour of the bank granting financial assistance.  The Purchaser is recorded as the new owner of the property and the purchase price is paid to the Seller.

 Transfer Duty
The Purchaser is responsible for the payment of these fees unless purchasing new property director from a developer whereby the developer is VAT registered.  Transfer Duty is payable to the Receiver of Revenue.

 Commission
Commission is payable where an Estate Agent is the effective cause for concluding a sale of the property.  It is customary that the Seller is responsible for this fee.

Exchange Control
All funds introduced from outside South Africa to acquire fixed property within South Africa may be repatriated, together with any profit on resale of the property, provided the Title Deed of the property has been endorsed "non-resident".  The profit on resale may also be repatriated, provided the relevant securities have been endorsed "non-resident".

 Capital Gains Tax
CGT became effective on 1 October 2001 and South African residents are liable for the payment of Capital Gains Tax (CGT) on the disposal of any asset for that date, subject to certain limited exceptions.  Non-residents are liable to pay CGT on the disposal of the following:
· Immovable property situated in SA, including any right or interest in immovable property.
· Assets of a permanent establishment of a non-resident through which trade is carried on in SA.
-  With individuals, 25% of the Gain is taxable in their hands for the tax year in which it is disposed.  The first R1 million Gain is exempt from CGT if the property is the primary residence of the individual.  This rebate does not apply to non-residents.
-  With Juristic persons (Companies, Close Corporations), 50% of the Gain is taxable in the hands of that Juristic person for the tax year in which it is disposed.  Companies are taxed at a flat rate of 30%.  In addition thereto, one must bear in mind the secondary tax on Companies (STC) which can become payable on the dividends payable to Shareholders and Members.
-  With Trusts, 50% of the Gain is taxable in the hands of the Trusts for the tax year in which is it disposed.  Trusts are taxed at a flat rate of 40%.