Buying property in South Africa

Member since 29 September 2008

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ChristineViP02 December 2011 09:20:03

42879

Hi,

can a foreigner buy property in South Africa?

If so, is it complicated? What is the process of purchasing a property in South Africa?

Any tips for buying property, such as a check-list of items to verify ?

Thanks in advance for participating!

Christine

janineb Member

Member since 30 April 2011

janinebMember06 December 2011 23:49:32

Hi Christine,
I bought a house in Cape Town 7 years ago (American) and found the process fairly simple.All you need is money! Being a foreigner means you have no credit rating in S.A and therefor must pay in all cash.
The closing was a bit longer than here,3 months to transfer the title.
I was a bit surprised that they do not do a general home inspection, just beetles and electrical so if there are issues with the plumbing ,foundation etc it would be good to get it checked out..
I think prices are fairly depressed right now,read somewhere it's at a 28 year low,so good time to buy.
Good luck
Janine

Harmonie ViP

Member since 13 June 2011

HarmonieViP07 December 2011 05:51:29

19273

Thanks for your contribution Janine!

Harmonie.

Sheffexpat New member

Member since 10 December 2011

SheffexpatNew member10 December 2011 05:30:22

Hi. I bought a place in Cape Town a couple of years ago over the Internet!! I had an agent acting for me, he was great. All the legals done via email. As previous post said, you need funds, but if you are earning in SA, you can raise a mortgage. Best speak to your SA bank.