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HOW IT WORKS

We believe it is essential for the buyer to have full legal and financial protection when buying property in a foreign country. The first step is for you to enter a buyer’s mandate with us. This secures our relationship with you as a trusted advisor, committed to working in your best interests, with the singular goal to help you find your perfect home in the sun!

1

WE INTRODUCE YOU TO A BUYER’S CONVEYANCER

The South African system of land registration reflects every piece of land on a diagram and ownership is recorded in one of the regionally located Deeds Registries. South Africa is reputed to have one of the best deeds registration systems worldwide with an exceptional degree of accuracy and guaranteed security of tenure.

Generally, the seller appoints a conveyancer who acts on behalf of bother seller and the buyer. We believe that buyers should have dedicated legal protection, which is why we start our relationship with you by introducing you to trusted conveyancers who will protect your best interests. Together, Homes in the Sun and the buyer’s conveyancer will help you understand the conveyancing process, familiarizing you with all costs and helping you make the best decision, whether you are buying in your personal capacity (with or without your spouse or partner), through a local or foreign company, or through a local or foreign trust. There are consequences for each, and this has tax implications, which is why we introduce you to tax specialists.

Read more here for Deeds Office information: https://www.deeds.gov.za/

2

WE BRING A TAX SPECIALIST ON BOARD

We only entrust our clients to the most reliable and knowledgeable tax specialists. If you are a non-resident realising a profit from the sale of fixed property or any other income from a South African source, you are obliged to register as a non-resident taxpayer in South Africa. You will be required to submit a tax return during the appropriate tax filing season declaring the income to the South African Revenue Services (SARS). Furthermore, the specialist will assist in ensuring the correct systems and documents are housed to ensure an equitable calculation of Capital Gains Tax (CGT) when disposing of the property.
3

WE HAVE YOUR VISA REQUIREMENTS COVERED

Ownership of fixed property does not automatically entitle you to any type of residence permit. Our third introduction is to a reputable visa and residence permit specialist who will submit and manage your application to the Department of Home Affairs. This is an onerous task dealing with ever-changing regulations and a Public Service department with backlogs and system challenges. 
4

WE PARTNER WITH FOREIGN EXCHANGE DEALERS TO SECURE THE BEST RATES

Our foreign exchange specialist will secure the best rate possible. Our specialists ensure the correct procedures are complied with and the correct documents are completed and retained to introduce funds into the country and to repatriate the funds when required. Crucially, as a non-resident when you repatriate funds out of the country, you are required to satisfy the South African Reserve Bank with proof of the introduction of foreign funds into South Africa. When a non-resident transfers funds from a foreign source into a South African bank account, the bank records a deal receipt which tracks the foreign funds received. 
5

WE WORK WITH THE BEST BOND ORIGINATORS IN THE COUNTRY IF YOU NEED TO BORROW MONEY

We arrange for the bond application to ensure you receive the most competitive rate and terms. Subject to the internal lending requirements of the relevant financial institutions, non-residents may borrow up to 50% of the outstanding purchase price of the property locally – providing the first 50% of the purchase price, as well as the transfer fees and transfer duties, have been introduced into South Africa from a foreign source.

6

WE FIND YOU THE RIGHT PROPERY TO SUIT YOUR NEEDS

We only start looking for property on your behalf once we have covered this groundwork. All the procedures, costs and legislative requirements need to be  firmly understood and incorporated into your purchasing plan and budget before proceeding. We will shortlist luxury properties for you to view, based on your specific and unique criteria. Since we have long-standing relationships with some of the best agents in the business, some of these properties will not be publicly listed or advertised. If you need additional peace of mind during the process, we can arrange for inspection reports not normally generated in the conveyancing process (at your own cost):

  • A detailed home inspection including a report on the structural integrity of the home.
  • A security measures audit to identify additional or updated security measures required and the estimated costs thereof.
  • An audit of the alternate energy provision requirements and the costs involved to meet your needs.
  • If required, a home automation audit, if you need additional automated controls, with a budget to implement those additions.

We can also help in other ways. This includes referring you to:

  • Reliable insurance providers for comprehensive property and personal insurance coverage to mitigate potential losses and to provide security for home loans
  • Trusted partners who can draw up a Last Will and Testament
  • Establishing relationships with trusted local professionals, such as security companies and neighborhood watch groups
  • Providing local knowledge about safety practices, emergency numbers and community resources to stay informed
  • Sourcing reputable home maintenance services and short- and long-term rental agents.

WE LOOK FORWARD TO HELPING YOU FIND YOUR DREAM HOME.

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