Buying or selling a home is a very big deal. There’s money involved, important decisions to be made and, frequently, enough paperwork to make even the most organised person reach for an extra cup of coffee.
Fortunately for both buyers and sellers, South African property practitioners have a professional Code of Conduct to ensure things are kept on the straight and narrow. Prescribed by the Property Practitioners Act and regulated by the Property Practitioners Regulatory Authority (PPRA), it sets the standard in the industry for honesty, integrity and the conduct professionalism clients are entitled to expect from their property practitioner / realtor.
So, what does this mean for buyers and sellers?
For sellers, it means honest marketing, clear mandate terms and that all offers received will be handled in accordance with your instructions. Your Property practitioner should provide realistic advice and not simply tell you what you want to hear to secure a signature!
For buyers, it means protection against misleading claims and a professional duty to deal fairly. But a little homework on your part goes a long way!
Before signing an offer to purchase, check the price, deposit arrangements, bond approval deadline, occupation date and any special conditions. Read every clause and ask questions about anything you don't understand. Suspensive conditions and their deadlines matter, so never assume you can sort them out later.
Ask for the seller’s signed and completed property condition disclosure form and read it carefully. Remember, it records disclosed information; it is not a guarantee that everything is in perfect working order. Consider independent inspections where appropriate, and make sure that any promised repairs or inclusions are recorded in writing.
If something matters to your decision, don't rely on a verbal assurance, get it documented in writing, and if you're uncertain, seek independent legal advice before signing.
The Code also addresses confidentiality, professional competence and trust money. If you believe a practitioner has acted improperly, you can lodge a complaint with the PPRA, who will then take it up with the agency and the practitioner.
At RE/MAX Wine & Whales, we believe good property service starts with trust, clear communication and informed decisions. Because the best property transactions don't just end with the keys. They begin with knowing exactly what you're signing up for.