Consumers and the Property Practitioners Bill

Has the Property Practitioners Bill missed the point?

consumers

Are consumers offered more protection?

Parliament passed the new Property Practitioners Bill on Tuesday 4th December 2018. This bill has been on the cards before 2011!

The Bill was supposed to finally provide buyers (consumers) more protection in the secondary housing market.

However, it appears the Minister of Human Settlements and his staff and the National Assembly totally missed the point!

Here is that portion of the Bill:

CHAPTER 10

CONSUMER PROTECTION

Mandatory disclosure form

  1. A property practitioner –
    1. may not accept a mandate unless the seller or lessor of the property has provided him or her with a fully completed and signed mandatory disclosure in the prescribed form; and
    2. must provide a copy of the completed mandatory disclosure form to a prospective purchaser or lessee who intends to make an offer for the purchase or lease of a property.
  2. The completed mandatory disclosure form signed by all relevant parties must be attached to any agreement for the sale or lease of property and forms an integral part of that agreement, but if such a disclosure form was not completed, signed or attached, the agreement must be interpreted as if no defects or deficiencies of the property were disclosed to the purchaser.
  3. A property practitioner who fails to comply with subsection (1) may be held liable by any affected consumer.
  4. Nothing in this section prevents the Authority from taking action against a property practitioner or imposing an appropriate sanction.
  5. Nothing in this section prevents a consumer, for his or her own account, from undertaking a private property inspection to confirm the state of the property before finalising the transaction.

This is the protection this Bill offers to buyers (consumers) who buy properties from sellers.

So what has changed? Continue reading “Consumers and the Property Practitioners Bill”

Why You Should Have A Home Inspection

The importance of a home inspection

house inspection and protection

Imagine what can happen if you don’t have a house inspection as protection when you buy a new home. Defects you didn’t notice and latent defects like a roof leak can cause your dream home to become a nightmare!

A Buyers House Inspection or Pre-purchase Comprehensive Property Inspection

Be wise, have a home inspection!

A buyer’s house inspection is your protection against the ‘voetstoots’ clause. A Buyer’s Inspection report is a written account, with photos, of the condition of the property. As a result, it will tell you about any significant building defects or problems. This can be defects such as rising damp, movement in the walls (cracking), safety hazards or a faulty roof etc. You would have this done as part of your condition of the sale so you can identify any problems with the property which, if left unchecked, could prove costly to repair.

Why do you have a house inspection?

  1. Protection against the voetstoots clause in your Offer to Purchase
  2. You will know in advance what the problems are.
  3. Therefore, you may be able to negotiate a lower price for the property. You may have to pay to repair some of the problems.
  4. You also get specialist advice about any major problems and maintenance issues which may affect the property over time.

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 Inspected Once, Inspected Right!®

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