Buy­ing on­line? Ask the ex­perts! Gert van der Walt of My­ ex­plains the process:

Web­sites such as My­ sell var­i­ous types of prop­er­ties in dif­fer­ent ways: some prop­er­ties are sold us­ing the CPA com­pli­ant on­line auc­tion process (mainly re­pos­sessed prop­er­ties), while other prop­er­ties are sold us­ing the stan­dard ten­der-of­fer proc

Home Renovations - - HOUSE -

You can sub­mit of­fers on prop­er­ties on­line and re­ceive up­dates on prop­er­ties in ar­eas that you’re in­ter­ested in. As with any prop­erty trans­ac­tion, the con­tract is bind­ing only once it has been signed by both par­ties.

You can view any prop­erty prior to mak­ing an of­fer.

My­ en­ables you to make “back-up of­fers”. If the prop­erty you’re in­ter­ested in has an ac­cepted of­fer (in­di­cated by an “In Trans­ac­tion” no­ti­fi­ca­tion), you can make a back-up of­fer which can be more or less than the cur­rent ac­cepted of­fer. If the cur­rent of­fer doesn’t go ahead for some rea­son, usu­ally be­cause of fi­nance, your of­fer will be con­sid­ered.

Once the buyer’s of­fer has been ac­cepted, My­ asks the buyer to sign the of­fer-to-pur­chase doc­u­ment first. Once signed, the seller coun­ter­signs the doc­u­ment, at which stage a bind­ing con­tract is formed.

Once the client re­ceives the coun­ter­signed of­fer-to-pur­chase, their fi­nance pe­riod of­fi­cially starts.

The usual fees ap­ply as for any stan­dard prop­erty trans­ac­tion via auc­tion or ten­der-of­fer process. How­ever, My­ charges be­tween 0% and 4% com­mis­sion (com­pared to the norm, which ranges be­tween 6% and 10%).

The buyer then has 14 cal­en­dar days to ob­tain their fi­nal grant or 45 days to pro­vide guar­an­tees if they’re pay­ing cash (these par­tic­u­lar time­frames vary de­pend­ing on the type of prop­erty pur­chased). Once the full pur­chase amount has been se­cured, the reg­is­tra­tion of the prop­erty can com­mence, and you’re now on the fi­nal step to be­com­ing a proud home­owner.

An of­fer can be made sub­ject to the sale of the buyer’s own prop­erty in the case of pri­vate prop­er­ties, de­pend­ing on the seller’s con­sent, but not for bank-re­pos­sessed prop­er­ties.

Iris de­scribes the style of her home as com­fort­ing and un­fussy. “There’s noth­ing pre­cious about any­thing in my home, only the peo­ple who live or visit here. My nieces and neph­ews love com­ing to Aunty Iris be­cause they know there will al­ways be loads of baked good­ies and food. And they can just re­lax; they don’t have to worry about break­ing any­thing. Ev­ery­thing can be re­placed.

“I like re­pur­pos­ing fur­ni­ture and re­uphol­ster­ing chairs to cre­ate a con­tem­po­rary look, but al­ways with a touch of the plaas to re­mind me of my her­itage.” Iris loves buy­ing old fur­ni­ture, sand­ing it down and paint­ing it in high-gloss white for a con­tem­po­rary look. “I prob­a­bly spend about three week­ends a month fix­ing and paint­ing and find­ing new uses for stuff,” says Iris with a laugh.

When it comes to colour schemes, she loves the pop­u­lar grey trend and mixes it up with lime in the liv­ing room, and white and char­treuse in the guest bed­room. >>

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