Use the information below and complete the relevant OTPs and present the offer in a role-play activity to fellow property practitioner(s) / principal property practitioner(s). Mr John Michael Lewis and Tracy Lewis are looking to buy a duplex townhouse in Bartlette / Bardene area in Boksburg. They viewed the ideal property with you and want to put in an offer on the property. They are first-time buyers...
T. Product Training Exercises
Addendum – Bond Grant Date Use the information below and complete the relevant addendums. Present the addendum in a role-play activity to fellow Property Practitioner/s or principal Property Practitioner/s. Mr John Michael Lewis and Tracy Lewis applied for a bond to purchase 30 Protea Gardens, 60 Julius Knight Street, ERF 192. There was a delay, and they could not secure a bond in the 30 days....
Calculations of client’s net surplus income and qualify bond amount. The following is a high-level bond qualification estimation summary. The banks / financial institutions will determine the value according to their own assessments. Gross Earnings: R 44 000,00 x 30% R Bond Amount Applying for : R 750 000,00 Maximum...
Calculate the estimated cost a purchaser will pay when purchasing a property PURCHASER COST ESTIMATION The following is an estimation of costs involved in the transfer of a property Purchase Price 1 580 000,00 Transfer duty Conveyancing fees (incl vat, deeds office, petties, Fica) Rates & Taxes / Levies - 6 months (R350 p.m) Bond...
Calculate the estimated cost a seller will pay when selling a property SELLER COST ESTIMATION The following is an estimation of costs involved in the transfer of a property Selling Price 1 580 000,00 Practitioner’s commission (7.5%) Outstanding Bond (R900 000) Bond Attorney Cancelation fees Bond Cancelation (10.5%) Electrical Clearance...
Calculate the loan repayment for at least 3 clients at different sales values: CLIENT 1 PURCHASE PRICE R 850 000 Interest rates 9% Years 20 Deposit R Monthly repayments R Total payments R Interest payments R CLIENT 2 PURCHASE PRICE R 500 000...
Scenario 1 Lynette Roets and Markus Lizemore are making an offer on Erf 333 Homestead from Karen Webber. The street address is 19 Sherwood Avenue, which is in Germiston. They are purchasing the property for R1 000 000.00 (One million). They have no deposit and are dependent upon obtaining a 100% bond. Scenario 2 Alan Bixby is purchasing 28 Stellendal Road, situated in Audas Estate in Somerset...