Collect rent in cash? Make sure you stay compliant with money laundering rules
24 Jan 2023
According to an International Monetary Fund assessment, “the widespread use of cash in South Africa poses a high risk for money laundering and terrorist financing”. With that in mind, the Financial Action Task Force (FATF) issued a report in October 2021 requiring substantial legislative changes by November 2022 in order for South Africa to avoid being greylisted by the international watchdog.
There are a number of costs to factor in when selling a property – many of which are payable upfront before transfer can occur. To avoid being caught short, sellers are advised to have adequate savings in place before placing their home on the market.
According to the Seeff Property Group, estate agents are increasingly dealing with property buyers in search of residential properties where they can live and work from home or run a small business.
Home sellers used to count on curb appeal to make a good first impression on potential buyers. Now, with more homebuyers starting their house hunt online, a home’s “picture appeal” is taking over as the top way to impress buyers.
read more
More Estate Agent Tools
Commission
Estate agent commissions are negotiable. Calculate the service fee on a property sale
