Lawyers selling property... making more sense than ever
Category Newsletter
Selling immovable property involves a host of service providers - tradesmen, decorators, gardeners, painters, estate agents, attorneys, bond originators, banks, insurers, brokers, etc.
Worldwide there is a tendency to combine and simplify these services.
For instance, in the UK it is predicted that in the next few years the larger bond origination companies may merge with the larger estate agencies to produce a combined service of both selling the property and finding a suitable loan for the buyer.
Locally, FNB established an online portal to link their clients to buy and sell immovable property. Once a buyer has found a property, the bank will step in, free of charge, to assist with the preparation of the sale agreement and to provide a loan to the purchaser.
Proxi Smart Services is another novel and bold example of the big estate agencies attempting to control the entire value chain of the property sale, from taking the mandate, transferring the property to finally paying the seller the proceeds.
Of these service providers, the estate agent and attorney are, arguably, the most important role players.
The estate agent must find an acceptable buyer and price for the seller.
The attorney/conveyancer must transfer the property to the buyer and pay the seller the proceeds of the sale.
The latter service is complex and involves more than simply signing up a binding sale agreement.
The conveyancing process is a highly specialised field of law performed exclusively by qualified legal specialists, i.e. conveyancers.
Can you imagine if the two most important services of a property sale can be combined into one single service?
- Quicker: It would speed up the process and be more convenient - it is a one-stop shop.
- Cheaper: It would be considerably cheaper - by using one business hub (the law offices) duplication of costly service facilities is avoided and the saving is passed on to the seller.
- Legalities: The legality and lawfulness of the transactions are assured - it is performed and supervised by qualified attorneys.
- Risk: The risk of loss would be reduced - the risk of money theft is covered by the Fidelity Guarantee Fund of the Legal Practice Council.
South African attorneys are in the unique and exclusive position of being able to provide these services by virtue of their qualifications and experience.
They are not only highly qualified and trained to fulfil the complex legal requirements of transferring immovable property, but have also been selling properties from times immemorial.
Thus, in South Africa we are in the unique and favourable position that the above two functions can be combined effectively, legally and seamlessly by practising attorneys.
3%.Com Properties® has recognised this opportunity and, through its national network of practising attorneys, has established a property service that is truly professional, convenient and affordable.
This unique and comprehensive service, offered exclusively by attorneys, has enabled both buyer and seller to enjoy the convenience of a one-stop shop, affordability (only 3% commission plus VAT) and professionalism. (The service is offered exclusively by qualified and practising attorneys.)
Nowhere else in the world are buyers and sellers offered this unique, convenient and comprehensive property service.
Lawyers selling property, it makes more sense than ever.
Maartens Heynike
CEO 3%.Com Properties
12 June 2019
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)
Author: 3%.Com Properties