Storm Damage!

Our JHB offices will be temporarily closed due to excessive storm damage caused by the heavy wind and rain that we experienced over this past weekend (28 October).


Our Telkom landlines will be intermittent, all our computers are being dried and serviced, the printers are damaged and the general office is flooded after many of the roof sheets were blown clean off.  We will be attempting to dry everything as quickly as possible and will perform a test-start late on Monday evening.

All our agents will be available on their cellphones, so please don't hesitate to contact us should you need anything.

For any urgent matters, my cell number is 082 491 1621 and Stirling is available on 083 6555 005.

Thank you for your support and patience, we apologise for any inconvenience!

Kind regards
Allison
(send me an email)

The seller is the seller...

...not the agent.

At Rivigan Property Group, we believe that communicating openly and honestly with our clients is the only way to conduct our business and build long-term relationships.

It is equally important for our clients who are selling property to communicate with us, as effectively and extensively as possible, throughout the sale process so that we can deliver the best service when securing a mutually beneficial deal for both the seller and the buyer.

Although we act as an agent to help and facilitate sales, we are not the actual seller.  The new Consumer Protection Act (CPA) that came into effect in April 2011 has tighter restrictions on real estate sales and calls the seller to higher levels of accountability when engaging in the sale process.

One of our biggest concerns has been in the disclosure of defects.  As an agent, it is impossible for us to know all the defects of a property since we do not live in it and are not privy to all of the plumbing, structural and aesthetic features.  We have seen more than one sale fall through because of defects that were not listed on the defect sheet and encourage our clients to disclose every defect that they are aware of.

We are the experts in selling and want our clients to have the best experience when selling and buying property, and, build into a relationship that will have long-term benefits.

For more information on the revised CPA and how it will affect you, contact us today and we’ll make sure that your questions are answered.  Choose the Rivigan Property Group, it’s the smart choice.

CREDIT REPORTS

Understanding your credit report in more detail

from MF ATTORNEYS INC

 

You can obtain one free credit report from each credit bureau every 12 months. We would like to explain to you the information kept on a credit report and how to check whether there is a blacklisting. We will deal with the main sections in a credit report and also explain the listings that can be found and how they can be dealt with.

1. Personal information
This section sets out full names, identity number, residential address, postal address and contact numbers. This section usually also sets out past addresses and past employers.

2. Credit score
This section sets out what the applicant’s personal score is based on the information held on the credit report at that moment in time. This score can range from 0-1000. A score between 1- 649 is considered below average. A score between 650 -749 is considered average and a score between 750-999 is good. It sometimes happens that there is no score on a report. This occurs either because the person is not credit active; alternatively they are under debt review or administration.

The effect of debt

Debt can be used most efficiently in order to grow an investment portfolio and purchase items that we need before we have acquired the full purchase amount.  This is only possible, however, if debt is managed properly and wisely.  Debt can have positive effects, but it can also have severely negative effects.

There are two types of debt: good and bad.  Good debt, quite simply put, is manageable and sustainable.  When you have what you need and are staying on top of your monthly repayments, you are in a good credit position, i.e.  you manage your debt well.  This is a common situation for many people who buy houses, cars or perhaps a few other expensive items, for which they can afford the repayments.  Affordability of debt refers to monthly repayments that are due in order to pay back the amount that you borrowed.

Bad debt is the opposite: you over-extend yourself and are unable to maintain repayments to your creditors.  This means that the debt that you have incurred is unaffordable.  This is typically caused by bad spending habits when people buy too much too soon, but it can also happen in the case of a hike in the interest rate or the tragic and often unavoidable loss of employment.  In order to manage your debt situation you need to manage your lifestyle.  There is an old idiom “cut your coat according to your cloth” - a basic budgeting principle to ensure that your costs do not exceed your income.

BONDS: How to get one smoothly...

You’ve saved for a deposit, you’ve cut clippings and searched the top websites to know what you want in your dream house.  Now, you need to get a bond.  Statistics show that nearly nine out of ten buyers* finance their homes with a bond, which means that virtually all buyers require home loans.

The good news is that obtaining a loan is not that difficult – but getting the best loan for you, that’s the potentially shaky part.

In recent years, good bonds have been harder to get as banks have tightened the loops that you need to jump through.  But getting a bond doesn’t need to be a difficult process – not only are banks once again offering 100% loans, but we can also guide you with a few tips to being a smooth operator when it comes to applying for a home loan.

Can I afford it?
One of the best reasons for acquiring a pre-approved loan is to find out which market you are able to buy in.  Although house-hunting can be exciting, it’s made far more enjoyable when you know that the house that you like is actually in your price-range and that you have a pre-approved bond, with all credit checks done, waiting for you.

You also need to consider that there are upfront costs of transfer and registration fees, which usually have to be paid outside of the bond.   Monthly repayment affordability is commonly calculated at around 30% of your gross income, but there are further factors that are considered that will determine the size of the bond that will be granted.