De-risking the sales process for a private seller & estate agent

We were recently “cleaned out” by visiting “guests” at our guest house.

Although it was a last-minute booking through Booking.com, a trusted and respectable booking site, we never saw it coming.

The “sister” of the guest and her two male friends made the online booking on a Saturday afternoon and even sent proof of the EFT, just after the booking was confirmed.

They delayed their arrival due to “car issues” and arrived in an Uber at 4:30 AM early in the morning.

When their ID’s was requested, their reply was, “sorry my bag was stolen, but I will get you a copy first thing tomorrow.”

The proof of payment was already produced, and the booking was done through a trusted site, so I confirmed the arrangement and headed off to sleep, I realize now that I was too comfortable.

The next morning the curtains remained closed, and I assumed they slept in due to their late arrival.

They “cleaned out” the apartment and took almost everything, from the TV to the toaster, even the bed sheets.

We learned an expensive and hard lesson that day.

No matter the trusted platform that a client comes through – Rule Number 1 is – PRE-IDENTIFY YOUR CLIENT & VALIDATE WHEN YOU MEET THEM.

SELLING YOUR PROPERTY AS A PRIVATE SELLER & THROUGH AN ESTATE AGEN

The same applies when you open the doors of your home to a stranger, who responded to your property listing.

Ask yourself this –

• Can you really open your doors to a complete stranger?
• Can the buyer afford to buy my property?”

PRIVATE PROPERTY SELLER & AGENT SALE

Question –

How can you de-risk your private property sale?

Answer –

Refer the buyer on contact to your Property Personal Assistant.

WHO & WHAT IS A PROPERTY PERSONAL ASSISTANT? – PPA

Your own PPA is someone with property experience and skills to welcome as your personal property assistant.

Your PPA will arrange for your potential buyer to be pre-approved and schedule an appointment to view your property that’s convenient for both parties.

THE VIEWING

The viewing can only be scheduled once a buyer:

• Pre-identified him/herself (Dept of Home Affairs and ID check done through our online free service to the buyer)
• Pre-qualification completed & financial affordability to match the selling price (through our free online service to the buyer).

ALL ONLINE

Both pre-identifications are done online and in real time.

The information is validated and checked through our Fintech systems – (as to date, more than 350 000 users signed up for such an online service).

Once the buyer’s profile is established and matches your property for sale profile and price, then an online meeting is scheduled.

IDENTIFY BUYERS, BEFORE INVITING THEM INTO YOUR HOME

You are provided with the information of the buyer once the viewing is confirmed and can be viewed on your mobile device when the buyer arrives at your home for the viewing.

You can then identify and match the buyer with the profile provided by your PPA so you are protected at all costs.

The same applies for a show house arrangement.

PROPERTY SALES & INFORMATION PACK

Once the onboarding is complete, the buyer is then provided by the Property Personal Assistant with all the required property details – all packaged in the PROPERTY SALES & INFORMATION PACK, this to further the reduce the risks of non-compliance under the Property Practitioners Act that is applicable to private sellers.

A virtual reality viewing of the property can also be arranged, thus to minimize traffic through your home and only scheduling viewing with serious pre-identified and pre-qualified buyers.

CLOSING THE DEAL

The Personal Property Assistant will assist, backed with an experienced conveyancing attorney to prepare a deed of sale/offer to purchase for signature (OTP) and can assist to close the deal and sign the legal documents and compile all the FICA documents required.

FINANCIAL ARRANGEMENTS

Once the sale agreement is signed, the PPA will oversee and speed up the home loan application by applying to up to 8 financial institutions for the buyer, ensuring that the buyers do not drag their feet and delay the application.

The home loan application process is fast-tracked to the financial institutions (Banks) though information already on our Fintech system for the pre-qualified buyer.

DEPOSIT & LEGAL FEES

If a first time buyer qualifies for a FLISP subsidy, assistance is provided to process and submit the FLISP subsidy application.

This FLISP subsidy can also be applied as the deposit and legal fees payment.

All these service are aimed to speed up your transfer registration process.

PROPERTY TRANSFER

Once the property finances are in place, the transaction will be handed over, with all supporting documents, to the transferring attorney selected by the Seller.

LEGAL COMPLIANCE CERTIFICATES (Electrical, gas, beetle, plumbing etc)

Where required, such services can be arranged, quotations and assistance provided.

HOW MUCH WILL IT COST FOR SUCH A SERVICE?

To secure your own Personal Property Assistant for a 3-month period, a once off fee of R800.00 is payable upfront.

WHAT WILL I GET FOR SUCH PAYMENT?
Your Personal Property Assistant will provide:

• Your own property valuation report: CMA –  A Comparative market analysis. Check that your property is correctly priced.
• Listing on other property sales portals if required & not covered by your own listing.
• Pre-identify and pre-screen the buyer’s financial ability
• Online viewing scheduling 
• Home Loan processing for the buyer
• FLISP Subsidy assistance – if applicable
• Prepare and provide the SELLER’S PROPERTY SALES & INFORMATION PACK. 
• Legal Documents – Provide a standard Deed of Sale Agreement – also referred to as an OTP.
• Notice to your bank to avoid the dreaded 90-day early termination fee for your current home loan.
• Quick Capital Gains Tax estimate calculation (to be verified by your own tax consultant).

OFFER RECEIVED

Often a private seller receives an offer to purchase that a buyer prepared (or even prepared by an estate agent).

Your PPA is on standby, backed by legal & conveyancing experts to review the offer for your protection before you sign and accept the offer and further de-risk your private sale initiative.

SELLING THROUGH AN AGENT
This same service is also available if you sell your property through an estate agent.

WANT TO GET MORE INFORMATION?

click here for a meeting with your Personal Property Assistant – https://calendly.com/mdw-inc/book-a-30-minute-online-discussion-with-meyer
Or
Click here to Schedule a telephone call https://calendly.com/mdw-inc/propertysellerbookacallwithmeyer

Meyer de Waal
Meyer@mybondfitness.co.za
083 653 6975

This article is a general information sheet and should not be used or relied on as legal or other professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your legal adviser for specific and detailed advice. Errors and omissions excepted (E&OE)