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Effective as of 1 April 2018, the will be an increase of the VAT rate from 14% to 15%. Real estate transactions are also affected by the increase.
It is important to remember that the body corporate are just a group of people who have the responsibility of ensuring the scheme is run correctly and efficiently.
When a rouwkoop clause occurs in a sale agreement of an immovable property, a deposit is paid to the seller which would be forfeited in the event of the buyer withdrawing from the sale agreement.
Selling a house at times could have various complications that could prevent the process from being completed timeously.
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