Plan well when you set your mov­ing date

George Herald - Private Property - - Property News -

Often one of the last hur­dles in the home­buy­ing process is agree­ing upon a mov­ing date. This can be a tricky thing to set­tle upon as it must suit both the buyer and the seller. “Buyers often un­der­es­ti­mate the im­por­tance of set­ting the right mov­ing date.

“If you are un­able to move into your new home be­fore you've agreed to move out of your old home, then you will need to find some­where to stay in the in­terim, which could end up cost­ing you a pretty penny,” ex­plains re­gional di­rec­tor and CEO of RE/MAX of South­ern Africa, Adrian Goslett.

This is why Goslett en­cour­ages buyers to have a real es­tate agent in their cor­ner to ne­go­ti­ate on their be­half. “Per­ceived as a more neu­tral party, es­tate agents are often able to help buyers and sell­ers reach an agree­ment in which ev­ery­body wins. When buyers try and ne­go­ti­ate di­rectly with the sell­ers, things can often get heated as both are out to se­cure what is best for them­selves with­out nec­es­sar­ily con­sid­er­ing how this will af­fect the other party.

“When an es­tate agent ar­ranges a mov­ing date on a buyer's be­half, they present the facts to the sell­ers, leav­ing be­hind any per­sonal at­tach­ments they might have and fo­cus­ing in­stead on how to cre­ate an out­come that suits ev­ery­one,” says Goslett.

Ac­cord­ing to Goslett, buyers and sell­ers will need to con­sider the fol­low­ing when set­ting a mov­ing date:

Length of trans­fer process

"Buyers and sell­ers have to fac­tor in the time it will take to reg­is­ter and trans­fer the prop­erty into the new owner's name be­fore agree­ing upon a mov­ing date.

“This process, which in­cludes reg­is­ter­ing for the new owner's bond, can­celling the pre­vi­ous owner's bond, and reg­is­ter­ing the sale at the Deeds Of­fice, can take around three months.

If a buyer wishes to move into the home be­fore it is reg­is­tered in his/her name, then he/she will be li­able for oc­cu­pa­tional rent set by the orig­i­nal owner.”

Legally bind­ing con­tracts

“If a buyer al­ready owned a prop­erty which he has sold in or­der to pur­chase a new prop­erty, he will have had to agree to a mov­ing date with the buyer of his cur­rent home. Like­wise, if a buyer is rent­ing, then he will have to va­cate the premises be­fore the end of his lease agree­ment.

“Sell­ers should try and be as ac­com­mo­dat­ing as pos­si­ble around th­ese dates if they want to avoid the risk of los­ing out on the sale.

“Some buyers sim­ply can­not af­ford to rent an­other prop­erty for a few months while they wait for the seller to move out of the prop­erty on which they've placed an of­fer.”

Ex­ter­nal fac­tors

“Buyers and sell­ers will also need to con­sider var­i­ous other fac­tors which might not be in their con­trol, for ex­am­ple the weather and the avail­abil­ity of pro­fes­sional movers.

It is al­ways wise to al­low for some flex­i­bil­ity around the mov­ing date.

“If, for ex­am­ple, you have to be out of your cur­rent prop­erty by the 31st, then ide­ally you would set the mov­ing date a few days be­fore this so that you will not be out on the streets if for some rea­son the mov­ing date gets pushed back a bit,” Goslett con­cludes.

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