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Cape Town Properties for the International Buyer
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Posted On :
Nov-10-2010
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Article Word Count :
515
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Many visitors to this city want to know if they are allowed to purchase Cape Town properties. Their main concern is whether or not they will be expected to live in such properties permanently. It is legal for internationals to buy Cape Town properties and they don’t have to occupy the premises.
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Many visitors to this city want to know if they are allowed to purchase Cape Town properties. Their main concern is whether or not they will be expected to live in such properties permanently. It is legal for internationals to buy Cape Town properties and they don’t have to occupy the premises.
Of course, it is possible there may be a restriction to the purchasing of Cape Town properties at some stage. International buyers are also permitted to make an application for a bond that is fifty percent of the worth of the Cape Town properties in question.
Compared to many other destinations around the world it is still very easy for international buyers to purchase Cape Town properties. However, such buyers want to be certain the properties are in good condition. There is no law to ensure surveys are carried out as part and parcel of the process. Cape Town properties are ‘sold as seen’. It is the buyer’s responsibility to make sure there are no defects prior to purchasing. If a seller deliberately withholds information regarding a defect then a buyer is entitled to lawful recourse.
Certain inspections must be carried out and they are for the seller’s expense:
Electrical inspection
Beetle inspection
A certificate for each is provided if there are no problems.
Many international buyers are under the impression they will get permanent residency status because they buy a property. This is a misunderstanding. The ownership of a property is not a reason to be granted residency. However, the worth of such Cape Town properties will be added to the funds brought into Cape Town/SA if you do apply for residency.
There are international buyers who make use of the services of a real estate agent to source the most suitable properties on their behalf. They do this without having to be present in the city for the entire process and the transaction. Such an agent will guide them through the legal process of acquiring a property. From the time an offer is accepted by the seller, it takes approximately three months for Cape Town properties to be handed over to the buyer. International buyers are pleasantly surprised to find out Cape Town / South Africa has one of the world’s finest land registration systems. This means there are no unnecessary holdups.
Cape Town properties grow in popularity because international buyers are aware it may get harder to purchase Cape Town properties if the laws change. Many other countries around the world have far more restrictions for buying properties. Another big plus for such buyers is the reliable and reputable banking institutions and the sophistication of the systems used by SARS. Once again, international buyers are surprised that buying Cape Town properties is a first world experience.
International buyers mean Cape Town properties are in great demand. As long as such a beautiful location has properties to sell and its sophisticated system for buying and selling property is maintained, there will always be a willing international market for Cape Town properties.
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Article Source :
http://www.articleseen.com/Article_Cape Town Properties for the International Buyer_41069.aspx
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Author Resource :
Find more information relating to cape town properties, and cape town property here.
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Keywords :
cape town property, cape town properties,
Category :
Business
:
Business
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