Here’s what you really need to know before you stick that ‘For Sale’ board in the ground. Let’s be honest. Selling a house sounds simple enough. Pick a price. Find a buyer. Sign the papers. Boom! Sold! Right? Not quite. Selling a property is a lot like dating: it’s not just about looks (in this context, the price), it’s about compatibility, timing and knowing what you’re getting yourself into. So before you start dreaming about how you’ll spend the proceeds, here’s what you need to consider if you want a smooth, legal and financially wise property sale.
1. The Price Tag Is Just the Tip of the Iceberg
Yes, the asking price feels like a big headline, but it’s actually just the opening act. Once you’ve found a buyer, you’ll need to factor in things like agents commission, compliance certificates, bond cancellation fees and legal costs. Some sellers get so focused on what they’ll earn that they forget what they’ll have to pay. Suddenly, that big number you had in mind starts to shrink like a load of washing left in the sun too long. Fun fact… in South Africa, if your property isn’t your primary residence, if it is and it sells for more than R2 million, SARS may charge Capital Gains Tax (CGT) on your profit. The conveyancer (that’s your property lawyer) is legally required to report the sale to SARS, so there’s no skipping the queue. Think of it as a maths test you didn’t know you were writing, but one where the right paperwork can score you extra marks.
2. Why You’re Selling Plays a Bigger Role Than You Think
Everyone sells for a reason. Maybe you’re scaling down, relocating overseas or cashing out to start a new business. Whatever the case, your motivation will influence your timeline, flexibility and even your negotiation style. If you’re planning to emigrate, you’ll need to follow the South African Reserve Bank’s financial emigration process before transferring the sale proceeds offshore. Failing to do so could leave your funds stuck in SA longer than expected, which could delay your dream of sipping cocktails on a foreign beach.
3. Selling Can Be an Emotional Rollercoaster
We get it. You love your home. You’ve celebrated birthdays in that lounge and cried over burnt toast in that kitchen. But once you list, it becomes a product and not a memory box.
4. First Impressions Can Make or Break the Sale
Your home might be warm and welcoming, but if it smells like last night’s garlic prawns and the lawn looks like a jungle, it might not charm potential buyers. A little clean up goes a long way.
In terms of the Property Practitioners Act, sellers must provide a mandatory defects disclosure form before the buyer signs the offer to purchase. If you skip this step, your sale can be delayed or cancelled altogether. This form is your honesty policy, it tells buyers exactly what’s working, what’s not and what’s “quirky” about the property. It is imperative for buyers to know their rights according to the property practitioners Act, instead of just focusing on the bigger picture painted ahead, without regulations done.
Fun fact: Buyers tend to remember the smell of a home. Freshly brewed coffee or baked bread? Great. Last week’s fish curry? Not so much.
5. The Market Mood Matters
Before you put up that ‘For Sale’ board, take a pulse on the market. Is it a buyer’s market, where there are more homes than buyers, meaning you might have to price competitively? Or is it a seller’s market, where demand is high and buyers are likely to bid quickly?
Tip: Don’t just rely on your gut feeling or your neighbour’s bragging about what they sold for. Check recent sales in your area, talk to agents about average time on market and be realistic about your home’s value. Overpricing can leave your listing languishing online until it becomes digital wallpaper.
6. The Fine Print Can’t Be Ignored
From compliance certificates (electrical, plumbing, gas) to FICA documents for your conveyancer, missing paperwork can bring your sale to a standstill. Even something as simple as unpaid municipal rates can hold up transfer.
7. When You’ve Found a Buyer - the Real Work Begins
Congratulations, you’ve received an offer! Now the paperwork marathon begins. You’ll need to review the offer to purchase carefully, it’s a legally binding contract, not just a handshake deal. The offer should spell out the purchase price, deposit amount, suspensive conditions (like the buyer getting a bond) and timelines for transfer.
Tip: Make sure your buyer has finance pre-approval or proof of funds before you pop the champagne. Deals can (and do) fall through if finance is denied. Also, don’t forget about occupational rent agreements if the buyer wants to move in before transfer, it’s best to have this in writing to avoid “my cousin promised” disputes.
8. Timing Is Everything
If your sale is tied to buying another property, you’ll need to juggle timelines carefully. Delays in one transaction can create a domino effect, especially if you’re part of a chain sale (where multiple sales depend on one another).
9. You Need the Right Support Team
Selling a property in South Africa is a legal process. You’ll need a registered estate agent, a trustworthy conveyancer and a savvy financial adviser if taxes or debt are involved. The right team can protect your interests and your profits. Remember - always use the right estate agent and a conveyancer with experience in local municipal clearance procedures. Councils can delay clearance certificates for weeks. No certificate means no transfer.
The Bottom Line
Selling a home isn’t just about setting a price, collecting your cash and walking away with a legal, emotional and financial journey. Get your facts straight, follow the law and think beyond the asking price. The price gets the attention, but it is the process that makes or breaks the deal. And if you play your cards right, you’ll walk away with both a healthy profit and your sanity intact. Think of it as a relay race: the asking price is just the starting gun, but it’s the handovers, teamwork and stamina that win you the medal. Do it right and you won’t just sell a house - you’ll close a chapter in style and set the stage for your next adventure.
Disclaimer: This article is for general informational purposes only and does not constitute legal, financial or tax advice. Property laws and regulations in South Africa may change and vary depending on individual circumstances. Always consult a qualified professional such as a registered estate agent, conveyancer or tax adviser before making any property-related decisions.
Choose Homes of Distinction to Sell your home
Listing your home with Homes of Distinction means partnering with an experienced team that understands the nuances of the real estate market. Our agents are experts in showcasing properties, ensuring that your home receives the attention it deserves. With our proven strategies, high-quality marketing and personalised service, we help you navigate the selling process with ease and efficiency. Trust Homes of Distinction to guide you through every step, from pricing and staging to final negotiations, ensuring a smooth and successful sale of your property. Let us turn your selling goals into reality.
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