Bond Talk | Home Buying Checklist | SA Home Loans

14 Aug 2017

Why Use A Home Buying Checklist To Buy A Property?

Why use a home buying checklist to buy a property?

At SA Home Loans, we understand that buying a new home is an incredibly exciting prospect. In fact, for many people, owning a property is an absolute dream come true. It’s important, however, not to get so caught up in the excitement or the anxiety that you forget to do adequate research on the property you’re looking to buy. Before putting in an offer to purchase, it’s important to do a proper inspection of a property to assess the building, infrastructure and location, and identify those issues that may be of real concern for you.

Home inspection terms you should understand

On inspection, certain noticeable damages to the building(s) on a property such as cracks, broken cupboards, and leaking taps are known as patent defects. The more serious structural defects, such as problems with the foundations, or inadequate water drainage systems, aren’t as obvious to the naked eye and are commonly referred to as latent defects.

While a seller is obligated to inform the agent and buyer of any latent and patent defects on the property, to protect yourself as a buyer, it is always recommended that you do a proper inspection yourself and consider appointing an independent home inspection company to do a comprehensive check on the property, before you put in an offer to purchase. The reason for this is something called the ‘voetstoets’ clause.

How to protect yourself as a buyer

To buy something ‘voetstoots’ means to buy it ‘as is’, in whatever condition you may find it. If an agreement of sale of immovable property contains a voetstoots clause, then the seller will be free of any liability for any latent or patent defects you as the buyer may discover after taking occupation of the property.

It’s also important to note, while South African consumers are legally protected by the Consumer Protection Act (CPA), the CPA does still have its limitations. If an agreement of a sale includes a ‘voetstoots’ clause, it will be very difficult for you to cancel the sale, as you agreed to buy the property ‘as is’.

At the end of the day, it’s important to know your legal rights as a buyer and to take steps to lower the risk of making a bad investment.

Other things to look out for during a property inspection

Finding out more about the area in which the property is located should also form part of your inspection. This includes crime statistics for the area (from the past year), future developments for the neighbourhood, and proximity to amenities such as schools and hospitals. It’s also a good idea to find out the prices of similar homes in the area which is information you can get from a real estate agent.

When inspecting the actual property, look at house orientation (in South Africa, North-facing homes are better orientated towards maximising on sunlight), the rates and taxes/levies for the area and any title deed restrictions that may be on the property that might hinder your future building and renovation plans.

During a viewing of the property, be sure to check the obvious and not so obvious areas for the following patent defects:

  • Cracks in walls, tiles, cornices, floorboards, cupboard doors, windows etc.
  • Damp and mould in kitchen cupboards, ceilings, window and door frames, skirting boards>
  • Electric faults in wall sockets, light switches, electrical boards, light bulb sockets etc.
  • Damage to gutters, windows, built-in appliances and features, door handles etc.
  • Make a record of all these property defects and then specify them in the sales agreement that they be repaired before you take occupation. Also be sure to ask the seller and/or real estate agent for a list of known latent and patent defects on the property.

    Other paperwork you have a right to ask the estate agent to supply you with includes an electrical certificate, gas certificate (where applicable) and plumbing/water certificate to show the building’s compliance with health and safety regulations.

    Download our Home Buyers Checklist

    We have created a Home Buyers Checklist to help you remember the various elements to look out for while house hunting. This tool will help you tick off any problems areas you discover during your inspections and rate them according to their severity.

    Download our checklist today to help you make an objective decision about your next property purchase.

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