If you are going to buy a property for the first time in South Africa, you may face very discouraging experience. The decision involves a lot of big responsibilities. So, you are advised to take all the basic information in order to avoid any type of confusion.
Financial status
The very first step for your investment is the availability of the finance. This is looks the most important part of investing in the properties but many people just overlook it.
You should have complete familiarity about your financial status. Because now it is very difficult to buy a property in South Africa due to the establishment of the institute of new National Credit Act. They take into account all the items including clothing to credit cards.
Before purchasing a property, you should have a sufficient amount of capital. This will be required for the advance payments, registration and cost of transferring. You can also obtain a large amount of loan if you have sufficient amount of capital in your hand.
You should have consultation with the professional broker. He will guide you for the purpose of mortgaging that is based on all the rules and regulations prescribed by the South African market. They can also give you suggestions for the best mortgage plan that suits you the best. He will help you to submit your application for obtaining the loan after that you will be able to receive a confirmation for the purchase of the property.
When you have made up your mind to buy a property, it will be easier for you to get a loan for that purpose. But if you are uncertain about purchasing a house, that obtaining loan may create confusion for you.
In this situation, you will have two options for you. First you choose your desired property or confirm about the availability of the finance through loan. You will be able to estimate that how much amount you can obtain to avoid any future discrepancy.
Property decisions
When you have arranged all the necessary finance according to your ability, now you can go for a search for your desired property. Keep in mind all your prerequisites and other expectations. Your decision will be affected by your future plans either you are purchasing the house for your family or you just want to make an investment to earn profit in future.
With the availability of the internet facility, you can make a search for the online available portals for the property.  You should take yourself registered with the agents of real estate in order to keep yourself update with the latest available properties of your choice in the areas you want to live in.
You should search the properties within the limits of your budget. Don’t waste the time to look at the costly houses that out of your range. Just look for the properties that fulfill all of your needs and requirements.
When you have found your desired property, make an offer for the property by considering all the information obtained from your agent and the conditions that you have observed in the property. When all the settlement has been made, you should take off the property by the real owner or agent.
Legal aspects
For the purpose of fulfilling all the legal aspects regarding the purchase of the house, you have to hire the services of a solicitor. The responsibility to make all the legal documents and agreements will lie with the professional of law. And if you are purchasing the house along with your life partner, all the rights should be given to both the parties for avoiding any future disagreement between both parties. This is seems to be odd for the couple but it is a wise decision to complete all the legal aspects to rather than to involve in future legal settlements.
When the previous owner has accept your offer regarding the purchase of his property, your lawyer will act on behalf of you to obtain the title of property and the documents.
A survey is also carried out for making a report on new buyers of houses. Law does not require this procedure, but you are advised to take part in the survey, as you will get useful information regarding the properties and also you will be secured for any future event not favoring you. You will have to pay to the mortgage advisor for his services for the valuation of the property.
After all the procedures have been completed regarding the valuation and purchasing of the property, the lender of your loan will approve or reject your application for the loan. When your finance has been approved, you should send a copy of the survey of the property to the solicitor.
After making confirmation and checking all the documents, the solicitor will finish the sale contract of the property and will make confirmation with the lender of mortgage. The deposit will be paid to the lawyer that will be kept by him until the final settlement with the lawyer of the seller.
The lender and lawyer will confirm the availability of the finance at the date of completion of the contract and then the work for the transfer papers will be carried out and you and the seller in the presence of lawyer will duly sign the property transfer deed. The lender will transfer the finance in the account of your lawyer in order to make it available for the date that was decided upon.
On the date of completion of mortgage, the lawyer will transfer the amount in the account of the lawyer of the seller and obtain the transfer deed, certificate of Land Registry and keys of the property. This will complete the procedure of sale and you can enter your new house.
Your lawyer will take the transfer deed to the South African Land Registry for the purpose of stamping them by paying stamp duty. This procedure will ensure that you are the new owner of the house now. The deed will be given to the lender of mortgage that will act as a security for your loan. The solicitor will send you a bill for his services rendered during all the time of buying the house.

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