Mc Naught and Company - Attorneys

Welcome

2012-02-28T07:29:00.000+02:00

Welcome to Mc Naught and Company's inter-active law site. Here you will be able to read about our latest news and views, link to other useful sites that concern the process of buying or selling a home and find out all you will need to know.

You can also post questions or comments and we will help you as best we can. Thank you for taking the trouble to find us.

What a Party!!

2012-01-21T10:48:00.003+02:00

Comedian Glen Bo entertaining us all

January 2012 Newsletter

2012-01-10T15:48:00.001+02:00

Our January newsletter has been published. Click on the image to enlarge it to read it clearly.

It's an invitation to party with us

2012-01-06T17:22:00.000+02:00

Dave swings into action getting out the invites to our 20th Jan Big Bang Bash to start off the New Year. You're all invited and can RSVP by phoning Sharon on 031-4673810.

Getting 2012 off with a bang!

2012-01-04T13:52:00.001+02:00

2011-12-22T12:44:00.002+02:00

No double speak

2011-12-22T11:49:00.000+02:00

Clients of Mc Naught and Company will know that our legal contracts, wills and documents have always been written in plain simple and easy-to-understand language. This was one of my priorities as a newly-qualified attorney... taking contracts, tearing them apart and reducing them to simpler wording.

The good news is that the Government have recognised this need and it is now law that all legal contracts should be written so that the average South African will be able to understand them. The Consumer Protection Act which recently came into effect provides in Section 22, and the National Credit Act provides in Section 64, for documents to be written so that persons with average literacy skills and minimal experience as a consumer could be expected to understand them.

The new Companies Act also has similar provisions and requires plain language to be used in documents.

Consumers who are upset with contracts that are difficult to understand can complain to the relevant Ombudsman appointed for this purpose and it is intended to stop misleading or deceptive business practices. Fines can be imposed along with other appropriate decisions. The consumer may be entitled to cancel the offending contract or have it set aside by the courts. The court may also make any order it deems just, give money or property back to the consumer, compensate the consumer for any loss and cancel or alter the terms of the contract in favour of the consumer.

So there you have it! Consumers are being looked after.

Skydrive for documents

2011-12-13T14:58:00.000+02:00

Our Skydrive is linked to our website and we are building a library of useful documents which may be downloaded and used free of charge, or where registration is necessary, with payment of the applicable fees.

The latest in our bundle of documents are Divorce Settlement Agreements, Joint and Sole Parenting Agreements in situations where agreement needs to be reached over custody and maintenance of children of parents divorcing and for the division of property owned by the parties. Click on our link to our Skydrive here for the list of documents available to download and to download them at a click of your mouse. You can also check out more info on marriage and divorce on our website.

Christmas Mince pies

2011-12-06T16:25:00.001+02:00

Yummy Christmas Mince Pies being made by Lynn, our conveyancing lady at the Toti office. More please!!

Christmas Newsletter published

2011-12-02T13:07:00.001+02:00

Making your Life Even Easier!

2011-11-25T11:32:00.000+02:00

Mc Naught and Company constantly strive to make the lives of our clients and loyal business associates even easier.

Thanks to the technical know-how of the team at Dot Creative, transfer and mortgage bond costs can now be sent straight from our website to any mobile phone by sms.

Check out this novel, free service here.

Let us know what you think of this new service by posting replies to this post!

We honour

2011-11-11T12:28:00.001+02:00

Our Bluff staff take a minute out of our day to honour those whose contribution to the war effort during the 1st World War preserved the world we know today. It was poppy day, or Armistace Day or Remembrance Day as it is variously known, although it proved impossible to find poppies around town and I had to make my own. We honour the sacrifices made to bring peace to the world.

Some useful documents available free

2011-11-10T13:07:00.005+02:00

Mc Naught and Company's focus is on conveyancing and so where possible we prefer not to handle contested court cases. This includes Divorces, although we will help you get a divorce cheaper if you have settled your differences with your wife or husband. To assist, we have loaded a simple Divorce Settlement Agreement on to our SkyDrive as well as a Parenting Plan to take care of custody matters. Please feel free to download these documents free of charge and use them. Once signed, we will handle your divorce on an uncontested basis with pleasure.

Following the same link you will also find other useful documents, including a free will, antenuptial marriage contracts, property sale agreements and the like.

Transferring your property to family

2011-11-04T14:54:00.001+02:00

We often get requests to transfer a property from a parent to a son or daughter. There are several reasons why you may wish to do this:

1. You may have several children and one of them has taken over responsibility for paying the rates, levies and maintenance of the property and feels that it would be unfair for the other siblings to inherit;

2. You are worried that if you die with the property still in your estate you may have to pay estate duty and executor's fees based on the value of the property;

3. You can no longer afford to stay in the property but selling it would leave you worse off.

4. One or more of your children have undertaken to pay your debts or expenses in return for taking ownership of the property now.

5. There may be good tax savings transferring it now - it may also not be cheaper so please check carefully with your attorney or us for correct advice.

Unfortunately it is not free to transfer the property to a relative even if no money is being paid for the property. This is because the revenue services (Sars) view the transfer of ownership of a property as an opportunity to collect taxes based on the value of the property. Taxes include transfer duty, Vat and Deeds Office fees. In addition the attorneys attending to the change of ownership also charge for the work involved. If there is an existing mortgage bond over the property, even if it has been fully paid up, there is also a cost involved in cancelling the mortgage bond as it is registered against the title deeds of the property. It may also be necessary for the relative to whom the property is being transferred to raise finance against the property to pay the costs. There will be a charge to raise this finance. Our offices can give a quotation with pleasure and you can also get this information quickly by checking the transfer costs calculator on our website, inserting the value of the property as the "purchase price" even if no money is changing hands... follow the link here.... http://www.maclaw.co.za/calculator_costs.php

Somewhere to live

Another important consideration when transferring propertry to a relative is making sure that you will have somewhere to stay after the registration. Either a usufruct can be registered against the property, or a contract can be drawn up between the parent and relative, even if you think it is not important. We have had cases in our office where the child to whom the property was trasferred has died first and the parent has been left with a fight with the in-laws over the occupation of the property.

October newsletter published

2011-10-12T11:47:00.001+02:00

New Sectional Titles management

2011-10-05T11:46:00.001+02:00

The Sectional Titles Schemes Management Act, 2011, has recently been promulgated. This extracts from the Sectional Titles Act all of the provisions relating to Body Corporate management and the new Act now provides for this.

In order to provide for some conformity in the way Body Corporates are managed whether first registered under the previous 1971 Act, or the later 1986 Act or in future, provisions are set out to make uniform rules applicable to these schemes, making the scope for variations to Rules smaller. Any proposed amendment to Rules also now needs to be approved by an Ombudsman appointed in terms of the Act. This will ensure that no rules that contravene the Act will be able to be passed at a meeting of a Body Corporate.

Provision is also made for the appointment of an Sectional Titles Schemes Management Advisory Council to advise the Government on continuing problems facing the industry and the need for changes to legislation affecting the sectional title property industry.

A copy of the Act can be downloaded free off our Skydrive. Follow the link.

Boks win 13 - 5!

2011-09-30T11:32:00.000+02:00

South Africa have beaten Samoa 13 - 5 in our last pool game. It was a tight game, but experience told - well done boys! The Springboks have won a four of their pool games to finish top of Pool D and will likely meet Australia in the quarter finals

SA Leads at half time!!

2011-09-30T10:26:00.000+02:00

Well done to the BOKS leading Samoa 13 - 0 at half time!

Habana scored our only try of the first half, and was aided by a conversion from Morne Steyn, and a penalty each from both Morne Steyn and Francois Steyn.

Lets keep it up in the second half!

Good News for the Market!!

2011-09-22T15:59:00.000+02:00

The SA Reserve Bank today left the REPO rate unchanged which means that the prime lending rate remains at 9%.

This is good news for the property market, considering that many economists were talking about the possibility of a rate hike on the back of higher consumer inflation.

Whilst the interest rate remains at these historic low levels, it is the perfect time to enter the property market!

Contact Mc Naught and Company for assistance with your next property purchase.

Steering clear of the rocks... better transfer process

2011-08-19T13:20:00.000+02:00

Our August newsletter is hot off the press - click on the pic to enlarge and see how we steer our ship away from rocks, unlike the Phoenix which ran aground near Durban earlier this month.

Index of useful Stuff

2011-08-17T12:08:00.006+02:00

Access to Information- In terms of the Promotion of Access to Information Act, you are entitled to obtain information regarding your business dealings with us. Follow the link here to our information brochure and manual download where the procedure to obtain this information is explained.

Authentication of documents - if documents are to be signed outside South Africa for use within a Deeds Office or other official capacity here, the signature of the document/s needs to be "authenticated". This process is explained if you click on the link here.

Conveyancing Steps- once a sale agreement has been signed, what are the next steps to obtain registration in the buyer's name and payment to the seller. Click on this link to view or download the Conveyancing Steps checklist.

Divorce/Parenting Agreements- The most cost effective way to get divorced, is to reach agreement on the way your property will be divided and to reach agreement on the custody and maintenance of your children. Here you can download sample agreements or if you have reached agreement, we can help you complete these documents and reduce the costs of getting divorced.

Marriage/ANC Contracts- the document you need to sign to give us the required information to register an Antenuptial/ANC or Civil Union contract can be downloaded off our Skydrive - just click on the link and select the ANC contract, either with, or without the Accrual System. If you would like to know more about the different ways to get married, rather follow this link to our website to read more about it or contact our offices for a consultation.

Sale Agreements- if you want to download a private property sale agreement, click on the link and chose the PRIVATEW.SAL document off our Skydrive which can be downloaded and printed out free of charge.

Will- a free will can be downloaded off our Skydrive - just click on the link and select the will.

Authentication of documents signed outside South Africa

2011-07-29T15:36:00.002+02:00

If a document is to be signed outside of the Republic for use within the Republic, there are certain prescribed procedures to be followed for the document to be "authenticated" - this usually requires a trip to a Notary public and in some countries to our Embassy or Consulte for the appropriate official to attach an authentication certiciate before the document can be used here. The full rules are as follows:

Authentication of Documents

AUTHENTICATION OF DOCUMENTS EXECUTED OUTSIDE THE REPUBLIC FOR USE WITHIN THE REPUBLIC (Rule 63)

In this rule, unless inconsistent with the context –

"document" means any deed contract, power of attorney, affidavit or other writing, but does not include an affidavit or solemn or attested declaration purporting to have been made before an officer prescribed by Section 8 of the Justices of the Peace and Commissioners of Oaths Act, 1963 (Act 16 of 1963);

"Authentication" means, when applied to a document, the verification of any signature thereon.

Any document executed in any place outside the Republic shall be deemed to be sufficiently authenticated for the purpose of use in the Republic if it be duly authenticated at such foreign place by the signature and seal of office –

(a) of the head of a South African diplomatic or consular mission or a person in the administrative or professional division of the public service serving at a South African diplomatic, consular or trade office aboard (Para (a) substituted by GN R17663 of 13.12.1966); or

(b) of a consul-general, consul, vice-counsul or consular agent of the United Kingdom or any person acting in any of the aforementioned capacities or a pro-consul of the United Kingdom; or

(c) of any Government authority of such foreign place charged with the authentication of documents under the law of that foreign country; or

(d) of any person in such foreign place who shall be shown by a certificate of any person referred to in paragraph (a), (b) or (c) or of any diplomatic or consular officer of such foreign country in the Republic to be duly authorised to authenticate such document under the law of that foreign country (Para (d) substituted by GN R17663 of 13/12/1966.); or

(e) of a notary public in the United Kingdom of Great Britain and Northern Ireland or in Zimbabawe, Lesotho, Botswana or Swaziland; or

(f) of a commissioned officer of the South African Defence Force as defined in section 1 of the Defence Act, 1957 (Act 4 of 1957), in the case of a document executed by any person on active service
If any person authenticating a document in terms of subrule (s) has no seal of office, he shall certify thereon under his signature to that effect.
Notwithstanding anything in this rule contained, any court of law or public office may accept as sufficiently authenticated any document which is shown to the satisfaction of such court or the officer in charge of such public office, to have been actually signed by the person purporting to have signed such document.
No power of attorney, executed in Lesotho, Botswana or Swaziland, and intended as an authority to any person to take, defend or intervene in any legal proceedings in a magistrate's court within the Republic, shall require authentication: Provided that any such power of attorney shall appear to have been duly signed and the signature to have been attested by two competent witnesses.

We're new and live on the net

2011-07-19T18:46:00.001+02:00

Our new website is up and away!!! Wow, it's taken weeks of hard work, programming by our webmasters, finding photos and writing articles, editing and more editing. There's also loads of free stuff you can download off our linked Skydrive like sales agreements and wills, as well as useful info and costs calculators.

So go on and click on the link here, and see how much more we have to offer.

Mc Naught and Company launches New Website!

2011-07-14T08:50:00.001+02:00

After much development and design in conjunction with Dot Creative, Mc Naught and Company have today proudly launched our new and improved website.

This modern and progressive site provides a single port of call for a large number of legal queries and portrays the progressive views of the partners and staff.

Visit us now!!!

National Credit Act

2011-07-04T15:27:00.000+02:00

The National Credit Act has now been in force for a few years and it is time to reflect on the implications and effect of the Act. Everyone will remember the mortgage bonds and loans that were being thrown at the public before the Act was implemented. Over time, the value of not lending recklessly has been appreciated and our banks are far more cautious than previously in granting loans to people who may not be able realistically to afford the repayments.

July newsletter published

2011-07-04T12:54:00.000+02:00

Our July newsletter is hot off the press and on it's way to our clients and friends. Click on the newsletter here to ennlarge and read it.

Checklist for Purchases

2011-07-03T11:41:00.001+02:00

Buying a house may be the single biggest investment you make. To ensure a non-risky investment be aware of what to look out for before you sign…

Before buying a property, you or your lawyer should do the following:

1. Check that there are no pre-emption rights over the property you’re planning to buy and that there are no plans to construct anything (e.g. roads, railway lines, airports, shops, factories) that would adversely affect its value, enjoyment or use. Also, check that you are paying a fair market related price by getting an online property valuation that will give you actual sold prices of similar homes in the suburb, street or complex as well as an indication of the area trend. If you are concerned and wish to confirm the property ownership you can similarly get an indepth property ownership profile.

2. Check whether there’s a zoning policy in the town or area that may affect the property.

3. Check whether the property is subject to a compulsory purchase order.

4. Check whether there are any rights of way (e.g. for a neighbour) over the land and, if so, whether these are permanent or renewable.

5. Ensure that building permits and planning permissions are in order and that a property was built in accordance with plans and permits. Any modifications, renovations, extensions or additions (such as a swimming pool) must be included on the plans and be authorised. Building plans must be checked against the cadastral plan at the land registry.

6. In cases where a property has been inherited, check whether each inheritor has agreed to the sale. Heirs who haven’t been contacted may have the right to contest the will.

7. If a property was previously owned by a bankrupt company, ensure that the liquidator won’t reverse the sale and claim it for the creditors.

8. Check that there are no encumbrances, e.g. mortgages or loans, against a property or outstanding debts which you might inherit.

9. Enquire at the municipal offices whether there are any unpaid taxes such as property tax or other charges outstanding against a property.

10. In the case of a community property or sectional title property, check that there are no outstanding levies for the last five years (it may be possible for a vendor to pay the current year’s levy and ignore previous bills) and obtain copies of the scheme rules and the latest accounts of the body corporate (which should state whether there are any impending levies for repairs for which you would be liable).

11. Check that all bills for electricity, water, telephone and gas have been paid for the last few years. Receipts should be provided by the vendor for all such services.

12. If you’re buying land for building or planning to extend an existing building, obtain a certificate from the local town hall stating what can be built on it and what the property and the land can be used for. It’s important to check the size of dwelling that can be built on a plot or how far an existing building can be extended.

13. If the property is a listed building, check that there are no state pre-emption rights or restrictions on use or resale.

You should also ask your lawyer about your rights (e.g. to the return of your deposit and any other funds already paid) if it isn’t possible to complete the sale for any reason after an agreement of sale has been signed.

Mc Naught & Company are experienced in handling all of the above important points and ensuring that you are safeguarded in your important acquisition! Contact us now!

Best by Far

2011-06-22T06:46:00.003+02:00

Mc Naught and Company collected the Southlands Sun Best Legal Services 2011 Award at a function last night. Here partners Dave Mc Naught and Mark Leathers show off their award. Thanks to all staff for their commitment to service excellence and going the extra mile to have made this Award possible.

Other local businesses honoured include Re/Max Bluff with Hein and Elsie showing off their Award.

Useful Stuff

2011-06-02T11:09:00.000+02:00

This is our collection of links to some information you may find useful.. just click on the link:

Mc Naught and Company Facebook page

Mc Naught and Company SkyDrive with documents that may be downloaded off the internet eg Sale Agreements, Wills, Antenuptial Contracts, Divorce Settlement Agreements

Standard Bank

Nedbank

June Newsletter published

2011-06-01T14:15:00.000+02:00

It's already into the second half of the year can you believe!! Here's our June newsletter.. hot off the press.

Racing fun

2011-05-23T08:34:00.002+02:00

Having a fling (on the horses) at Greyville Race Course are friends from Seeff , Acutts and Re/Max on a beautiful autumn evening - did you see the yellow moon come rising up over the sea? Awesome stuff.

Improving Our Team

2011-05-20T13:58:00.000+02:00

Always looking to improve our skills base, we have been joined by a new conveyancing paralegal in our Bluff Office. Karishma will be attending to work on property transfers and we look forward to having her on the team!

Karishma Mahadow - New Conveyancing Paralegal

April newsletter published

2011-04-11T15:43:00.000+02:00

You can read all about it in our April newsletter - is your business now compliant with theConsumer Protection Act.. it goes beyond just compliant with sales agreements, leases and mandates, but also deals with the nature of your business structure and whether your business has been registered or not...

New photos for the Office

2011-04-07T08:45:00.000+02:00

The Bluff office renovations are finally coming to an end with the framing and hanging of some new photos of the staff and friends of Mc Naught and Co. Here Dave puts up some new pics in our staircase. ... Gail, Hein, Barry and Hettie, and partner Mark, with Lisa, Val, Sharon, Tracey and Dave's mom Molly.

Hot off the Press

2011-04-06T17:21:00.000+02:00

Here's a pic of our Mc Naught and Co. car licence disk holders being printed. We have distributed over 20 000 diskholders at the Bluff post offices and at the Licencing Department Winkelspruit.

Consumer Protection Act effective 1 April 2011

2011-04-01T12:00:00.001+02:00

The Consumer Protection Act kicks in today, 1st April 2011 and it's no April Fools Joke.

In terms of the Act Consumers are given new wide powers to return certain goods purchased, to demand good service and to terminate fixed contracts such as cellphone contracts, leases and and property sales mandate earlier than the intended termination date.

DOWNLOAD COMPLIANCE DOCUMENTS NOW

You can now download, by clicking on the hightlighted word download, our guide to the implementation of the Act with regard to leases, as well as our Seminar notes for the property seminars we conducted earlier this month for real estate agents and those in the property industry. Also available are compliance documents which can be attached to existing leases or sole selling mandates to ensure compliance with the Act. on request by email to adlawza@msn.com with your own lease or mandate in word format, we can integrate our recommended changes into your own documents so that a separate addendum will not be necessary.

All documents for download are also available by clicking on the download picture on the side-bar to the right.

Consumer Protection Act Seminar - 23 March 2011

2011-03-24T10:46:00.000+02:00

Mc Naught and Company were joined by representatives from a number of estate agencies from all down the coast at our Consumer Protection Act Seminar.

We look forward to tackling this new exciting time of consumer protection together with our loyal business partners. Thank you all for attending!

Getting ready for the Consumer Protection Act

2011-03-16T18:17:00.000+02:00

Mc Naught and Company partner Mark Leathers addresses the issue of consequences and penalties for non-compliance with the Act

Real Estate delegates prepare for the imminent implementation of the CPA

Mc Naught and Company partner Dave Mc Naught checks his notes before addressing the delegates

Client Liaison officer Bobby Bodenstein prepares the conference

Mc Naught and Company conveyancing staff Lynn Mc Naught serves a delicious lunch after the Seminar

Mc Naught and Company have been holding a series of Seminars in anticipation of the promulgation of the Consumer Protection Act which is due to commence on the 1st April 2011.

Here Agents and Auctioneers are being briefed on the steps to be taken to ensure compliance with the Act in the provision of services to sellers and buyers of property. A set of the Seminar notes is available for download off this site and Mc Naught and Company are available to amend company documents to help them get ready in time for the implentation of the new legislation.

Dave's First Notarial Deed

2011-03-11T16:10:00.000+02:00

Dave puts the seal on the first Notarial Deed he has executed as a Notary Public. It was a Notarial Deed of Encroachment - some buildings on one property encroached slightly into another and the Deed established a new title deed condition on both adjacent properties authorising the encroachment. This was a pre-requisite to regularise the buildings and obtain plans approval.

Once executed, Dave sends the Deed with the title deeds of the properties to the Deeds Office in Pietermaritzburg and the Notarial Deed gets registered and the new condition is endorsed on the properties' title deeds.

Supporting Our Team

2011-02-28T11:27:00.002+02:00

Dave, Mark and his fiance Lisa were guests of Express Pest Control and Fumigation at the Sharks 26-12 victory over the Blues in Durban on Saturday. We are all proudly Sharks!

It's the end of our financial year

2011-02-26T11:15:00.000+02:00

The end of February marks the end of our financial year and the 1st March 2011 is Mc Naught and Company's 27th birthday - next week we enter our 28th year. Wow! Well done all.

Enjoying a drink at the office are staff Val and Tracey-Lee with partners Mark and Dave and Re/Max Jaco and Gail.

A Major Boost for the Property Market

2011-02-24T10:20:00.005+02:00

At last!

A change to the transfer duty payable on purchases of new property!

All sales of immovable property where no VAT is payable will be subject to transfer duty at the following rates:

R0 to R600,000.00 - No transfer duty payable

R600,000.00 to R1 mill - Transfer duty calculated at 3%

R1 000 001 to R1.5 mill - Transfer duty calculated at 5%

Above R1.5 mill - Transfer duty calculated at 8%

Therefore a buyer purchasing a property for R1 million today will save R13,000.00 compared to if they had purchased the property before this change! The duty for purchases by Companies, Close Corporations and Trusts has also been reduced to equate to that of natural persons. You can download your full costs table here.

Mc Naught and Company are completely up to speed on the new budget and can advise you on how these changes will affect you. Contact us now!

Consumer Protection Seminars 9 and 16 March

2011-02-23T10:44:00.004+02:00

Book Now for our new Consumer Protection Act Seminar to help you get ready for the implementation of the Act on the 1st April 2010.

The Seminar is a hands-on Seminar dealing with your particular Real Estate Sales and Mandate documents to ensure compliance in time for the implementation of the Act.

There will be two morning seminars, one on Wed 9th March and the other a week later on Wed 16th March. Those participating are invited to email their sales and mandate documents to Dave who will present the Seminar with partner Mark and we will work on updates to the documents which will be discussed in further detail at the Seminar.

dave@maclaw.co.za - email address for your documents.

Bookings for either Seminar can be made by phone on 031-9037307 or fax 031-903-6150 or email to mcnaughtco@hotmail.com The cost is R50 per delegate which includes Welcome coffee/cake and lunch at 1pm.

You can download the Booking Form by clicking on the link here.

NOT TO BE MISSED.

February Newsletter published

2011-02-23T10:37:00.000+02:00

Transfer and Bond costs table effective 23 Feb 2011

2011-02-23T09:37:00.002+02:00

We have updated the Transfer and Bond Costs table to take account of the reduction in Transfer Duty effective 23rd February 2011. Click on the link here to get your own copy of the new table.

Having a great time

2011-02-03T08:53:00.009+02:00

Mc Naught and Co partners Mark and Dave with Trainee Attorney Patrick (Toti office)at our Flying Start Cocktail function at the Bluff office last night.

Danielle, Ann, Trish and Rob of Seeff Bluff

Dale of Express Pest Control puts up a brave face after his injury

Estelle, Ronel, Amanda and Kevin from Acutts Bluff

Bobby, Llewellyn and Pat

More fun at the More fun at the Bluff Office party!! Thanks to BeanBagBohemia for the superb catering at our "Flying Start Cocktails" function to kick off 2011 with a bang and welcome Mark who joins Dave as a partner at Mc Naught and Company.

Barry and Hettie Nel (Re\Max Bluff)

Ashvir and Jacqui from Betterbond together with Bobby

Tracey from Mc Naught and Company together with Jacqui from Betterbond

Tracey-lee, Sharon and Val

Llewellyn and Val (Bluff bonds)

It's a party

2011-02-02T21:52:00.002+02:00

The crazy bunch from Mc Naught and Co - Molly, Val, Bobby, Patrick, Dave, Sharon, Mark and Tracey-Lee

Ronel and Estelle of Acutts Bluff with Llewellyn

Danielle, Trish and Rob of Seeff Bluff

Lorraine and Dee of Eagle Estates with Dave's Mom Molly (centre)

It was the Bluff office party and an opportunity for staff to socialise and meet with some of our "old" friends and associates... it's been a while since we have had a party at the Bluff, preferring our new Toti offices for this purpose. But Bluff is our main office so it was great to see our local friends.

In the top photo are our staff complement Molly, Val, Bobby, Patrick, myself (Dave), Sharon, Mark and Tracey-Lee. We are joined (second photo) by Ronel, Estelle and Llewellyn, and 3rd photo by Rob and his girls from Seeff. In the 4th photo Lorraine and Dee from Eagle Estates join Dave's Mom Molly who works part-time at the Bluff office since she retired from her full-time job there several years ago.

It's training time

2011-01-31T15:35:00.000+02:00

There's never a bad time to improve on your skills, particularly in the competitive property market. And it's time for a re-run of one of our more popular seminars - writing a binding contract that will hold water when buyers or sellers want to wriggle out of a signed deal.

Often due to haste or inexperience there are loopholes in the written contract and this Seminar will help hone your skills writing clauses that are binding and will stand the test of scrutiny if the cancellation of a sale goes to court.

January and February are good training months so that you can kick off the New year with a Flying Start and better contract skills.

Bookings for the one-off seminar are now open and you can phone/fax or email your booking to Lynn on 031-9037307 tel, 031-903 6150 fax or mcnaughtco@hotmail.com

The cost is R50 per delegate and this includes tea/coffee/cake at registration and lunch and drinks after the Seminar. Date/time and Venue - Wed 16 Feb 11am - 1pm at Mc Naught and Company Amanzimtoti offices, 313 Kingsway.

Sprucing up the Bluff Office

2011-01-29T12:01:00.000+02:00

It's our Bluff Office party on Wednesday - can you believe it will be 27 years in business on the 1st March and then into our 28th year!! So I'm not growing plants in my car, but "sprucing" up the Atrium at the office with some new leafy plants. We've done a bit of painting as well and hung some new pictures.. notably the awesome World Cup Stadium photo in the signing office.

If you havn't RSVP'd for the event, click on this link here and let us know you are coming or drop us an email to mark@maclaw.co.za . Dave

Commission Split Calculator

2011-01-20T13:48:00.001+02:00

Thanks to John Wheble from Aida Winkelspruit we are able to share this quick commission split calculator with everyone. All you have to do is click on the link here or on or sideblog and you will be able to Download the Excel Spreadsheet directly to your computer.

The handy Spreadsheet put together by John enables you to quickly calculate the Agents' commission on a sale, any Network listing share, Listing agent/selling agent/office shares, Vat on each share or if a fixed amount of commission has been agreed, the Vatable output Vat etc on such a deal.

Thanks John, I am sure all those in the property market will be delighted to have this handy tool.

Transfer of properties from cc

2011-01-20T10:07:00.003+02:00

The tax exemption deadline for transferring properties registered in the name of a close corporation, company or trust to the members of the entity has been extended to this December 2011.

The benefit of transferring a property to the member is that the transfer would be free of transfer duty, capital gains tax, secondary tax on companies and income tax in terms of Para 51 of the 8th Schedule of the Income Tax Act following a recent amendment to the Income Tax Act and subject to the deadline mentioned above.

An example is a property owned by a cc which is being sold for R900 000,00. If the property was to be sold out of the cc, the cc would make a profit, which profits are taxed as well as the capital gain - the difference between the selling price and the cost price. In the example our office is handling this tax amounts to R137 454,00.

If the exemption is used and the property is first transferred to the members and then sold (transfer can be done simultaneously) the tax payabe is R6256 - a considerable difference.

So if you own a property in a corporation, company or trust, discuss with us the best way to save taxes and take action now before the exemption falls away.

Flying Start

2011-01-20T09:39:00.000+02:00

Welcoming Bobby (left) to the team at Mc Naught and Company Amanzimtoti office is partner Dave Mc Naught (right). Bobby is off to a flying start in 2011 and is already out and about meeting clients and associates of the firm. As a former estate agent, Bobby has a good working knowledge of the property industry and the hurdles faced in getting a property from listing to sold and registered... FAST with Mc Naught and Co!

Spreading the Word!

2011-01-03T12:22:00.001+02:00

Mc Naught and Company have started the year with a bang and added a dynamic new member to our team of professionals.

Bobby Bodenstein

Bobby Bodenstein joins us in the capacity of client liaison, tasked with spreading word of our great service all down the South Coast!

We are all looking forward to 2011 and to reaching even greater heights than we did in 2010!

Office on a Christmas note

2010-12-16T10:34:00.001+02:00

Dave and Mark having fun at the Toti Christmas Party

The end of a better year for Agents and Mc Naught and Co.

Brad sang us some songs

Ian and Patrick ran the Bar

Kate-Lynn celebrated her 22 birthday at the party

Dave's son Mark (left) joined sister Kate-Lynn helping out. Dane, Ronel and Llewellyn say cheers

Patrick and Mark talk to local Agents

Mc Naught and Co Staff take time out, including Dave's mom (right) with Mark's Fiance Lisa and Val, Tracey and Sharon

Mc Naught and Co and everyone in the property industry saw a better year with the World Cup football keeping optimism in the market on a high and falling interest rates boosting sales and bond registrations.

Thanks to all for making this a great year and here's to an even better 2011. Seasons Greetings and may your Christmas with family be joyous.

Chinese property projects inspire

2010-10-28T14:30:00.002+02:00

Property developers in Sanya, China, are capturing the imagination of celebrities and stars with the futuristic Phoenix development on an island linking the city with the ocean terminal.

Dave viewed the development last week while accompanying his partner on a Specavers South Africa conference held in the south China sea. The creativity and energy of the Chinese is amazing ... developers in South Africa should take note with work on the buildings also carrying on into the night.

Mark and Dave now Notaries Public

2010-10-11T07:47:00.000+02:00

At the High Court in Pietermaritzburg today, both Mark and Dave were enrolled to practice as Notaries Public.

When Mark wrote the exam for the first time last year, Dave said that on a re-write of the exam he would also pull out the study books and after a gap of 20 years would see if he could take the higher qualification and become a Notary Public.

Mark joined Tracey from our office with the distinction of recording the highest mark in KwaZulu-Natal in their respective exams and Dave was also one of only 3 who passed the exam. The admission was then set down for hearing in the High Court at Pietermaritzburg where the full bench of the Court accepted their application to be enrolled as Notaries.

It's Birthday time again

2010-08-28T08:51:00.000+02:00

Dave lights up too many candles on the cake!

The Mercury Wine Week is an annual event at the same time as Dave's birthday, so a good way to celebrate. Dave (right) with Llewellyn, and Chris and Gavin of Tyson's Properties.

Check us out on Google Street view

2010-07-16T20:28:00.006+02:00

Google Maps have extended their street view data to South Africa. Now you can not only find us on Google Maps, but you get a street view of our offices too.

Click on the link above then select the office you want to view. Under the bubble on the map click on more and select "Street View" ... isn't this awesome!!!

World Cup boost

2010-07-05T09:04:00.010+02:00

South Africa has earned itself a shot in the arm with the World Cup football and we have been delighted to be a part of the action with the exciting events here in Durban leading up to the Round 16 game and semi-final this month. This will hopefully keep the property market buoyant and already the confidence is showing in increased sales.

The office staff were getting into the 2010 swing of things with support for our Bafana Bafana team and are sad to see us out of the World Cup now. Click to check out Dave's World Cup blog here.

Welcome to Patrick

2010-07-05T08:14:00.000+02:00

The Toti office welcomes Patrick Forbes, who is completing his Articles with Mc Naught and Company.

Patrick is a Michaelhouse scholar who finished his LLB law degree at Rhodes University; he played hockey for Eastern Province and Water Polo for SA u16, taught in the UK and Vietnam and worked on yachts in the Caribbean before returning to South Africa.

Bluff bowlers

2010-07-05T07:23:00.000+02:00

Bowls: Staff members Sharon (left) and Val (right) are the bowling girls of the office and here they pose with Val’s veteran’s trophy at a recent competition—we are sure that “veteran” must be the 80 years old category, as Val is rolling in that direction fast.

New Electronic service reporting

2010-07-02T21:25:00.002+02:00

We've had an age-long tradition of sending out our "Service Satisfaction" red cards to clients after we have completed legal work. This envisages the client completing a "smiley face" if satisfied with our service excellence and return this postcard post-free to us.

The electronic age has caught up with us and it is no longer convenient for clients to pop our card into a post-box... voila our new Service Satisfaction email rating system. All clients have to do is click on a link in an email we send them and this calls up the electronic rating system, enabling them to quickly rate our firm's service and at the same time see an average posted by other clients of the firm.

Are you Satisfied?

2010-07-02T19:12:00.031+02:00

Thank you for the recent opportunity of being of service. I like to know when clients are satisfied or impressed with our service or if there are any ways in which we can improve. Your time in telling us would be appreciated. Simply rate our service in the box below and if you like, please feel free to drop me an email at adlawza@msn.com after rating us. Dave Mc Naught

Click Here for PollOnline SurveyConjoint AnalysisPollsEmail MarketingCrowdsourcing SoftwareView MicroPoll

Click here to go to our Home page and read the latest Mc Naught and Co. news.

Bafana Bafana take on Mexico

2010-06-11T13:36:00.003+02:00

One would be mistaken in thinking our SA National Football team, Bafana Bafana, were not the world favourites to win today as they take on Mexico in the opening game of the World Cup.

I have never seen so many yellow shirts in South Africa on one day... everyone - uniting the nation - are showing their colours for Bafana Bafana and South African flags are everywhere.

Fridays have been the days South Africans and schoolchildren have been allowed to show their support by wearing a Bafana shirt to school or work. In the photos from top to bottom are images painted on a garden wall just up the road from my Guesthouse showing Bafana Bafana in action, a handwritten message in wet concrete, my office staff gearing up for the opening game today, and a self-pic of myself in my car on the way to work. GO BAFANA GO!

New Partnership

2010-05-14T12:08:00.001+02:00

Recently admitted Attorney and Conveyancer Mark Leathers is now a partner at Mc Naught and Company. Welcoming Mark to the hot seat at the Bluff office, Dave Mc Naught congratulated Mark on a position well deserved and hoped that under the dual leadership the firm would continue to grow from strength to strength. “This is particularly so as we emerge from the recession and work hard to reap the rewards of our 2010 strategy giving clients our well-respected ‘hands-on’ approach to conveyancing” Dave said.

Looking after clients

2010-05-12T12:48:00.000+02:00

Snapped at a function recently Mc Naught and Co's new partner Mark Leathers with his fiancee' Lisa prepare a scruptious meal for clients.

New King Shaka Airport opens

2010-05-04T12:37:00.001+02:00

The 30th April 2010 and 1st May 2010 marked incredible milestones for Durban and exciting times ahead. On the 30th April the Durban International Airport closed and the next day the 3x larger King Shaka International Airport saw the first passenger planes landing.

On the scene to record the events, Dave and his daughter Kate-Lynn watched the last plane landing and had some fun at the deserted terminal check-in desks. The next day it was off to the new Airport to again record aviation history in the making as the entire airport was shifted to the new venue.

GO DURBAN GO. We are sure to see a huge boost in confidence in the Province and an influx of tourists particularly after the 2010 Fifa World Cup taking place in less than 30 days.

26th Birthday Lunch Cruise

2010-03-23T12:35:00.003+02:00

It's Mc Naught and Company's 26th Birthday and as we sail into our 27th year, we take a few friends and family with us...

On board the "Jolly Roger" we enjoyed a simple cruise around Durban's Harbour and enjoyed some lunch.. which we fortunately ate before the boat cruised out to sea and we were all tossed up and down.

In the photos are friends from Re/Max, Pam Golding, Tysons and Aida with Dave's son Mark manning the bar and in the last picture staff Patrick and Mark - Mark recently qualified as an Attorney and Conveyancer - watch this space for more news about his future in the firm.

2010 Budget Speech

2010-02-17T19:58:00.004+02:00

New Finance minister Pravin Gordhan has delivered his maiden budget speech.

The 2010 budget speech has come and gone. Like most people, I would agree that it does not make the most interesting reading, but it does affect each and everyone of us.

We have saved all the pain of trying to see what is in store for the year ahead, and hi-lighted the most salient points in the Minister's speech.

From a property perspective, there is no change to current transfer duty rates nor any additional taxes or rebates on property.

Moderate relief on income tax has been granted as well as a small increase in the primary tax rebate to R10,260.00 per annum.

Those who enjoy smoking and drinking however will feel the heat as taxes on cigarettes and alcohol have been increased significantly. A further disappointing item in the budget speech is an increase of 22.5 cents per litre in the fuel tax, a large portion of this going to fill a seemingly bottomless pit that is the Road Accident Fund.

Overall, the budget showed no major reforms, and the additional taxes on fuel with electricity hikes enroute mean that it will be a tough year for South Africans. Wise investing and tight budgeting will be the order of the day.

Mc Naught and Company are fully equipped to advise you on the most tax efficient practices for the coming year as well as to ensure that you are fully protected in any business dealings you may get into.

Book your consultation here.

New Home owners - Check faults within 24 Hours

2010-02-12T08:58:00.003+02:00

Against this backdrop of increasing new homeowners and the fast pace at which property is being built today, many consumers are not taking the time to inspect their new homes during the crucial period of moving in - often to the detriment of their properties long term value.

Many new homeowners often do not know what is expected of them and in turn do not inspect their house correctly during this crucial window period. After making a big financial contribution towards the building process, the last thing that you want is a property that is less than perfect. To ensure that new homeowners fully empower themselves during this process, follow the following tips:

Check all sanitary ware in your new home - particularly your bathrooms. Look for scratches, chipping or discolouration on the bath. A contractor cannot reasonably be held accountable for faults arising after 24hrs of use.

Inspect all glass for cracks and scratches.

Review all floor and wall tiles. Also check splashbacks which are designed to protect walls from grease and cooking splatters, as well as liquid or water splashes from the sink area.

Ensure that the extras you have ordered have been fitted.

Check that all services are operating properly.

Use the provided keys to ensure that all locks are working and ensure that duplicates are handed to you.
Test that all windows and doors operate correctly.

Electrics should also not be ignored. Check your electrical distribution board, test the earth leakage, and distinguish between water cylinders and main electrical switches.

When it comes to the exterior and garden area, keep in mind the following:

Check to make sure that the boundaries are correctly and visibly marked – and that the garden area is clear of all debris.
Verify that all garden soil, paths and driveways adjoining the house are at least 150mm below the damp proof course, which is normally situated at floor level.

If any of the above is not satisfactory you must inform your builder in writing. You may be asked to sign a form stating that you have inspected the work and that everything is in order. This is a reasonable request given that the time to report a crack in a pane of glass, or a chip in the bath, has to be on the date of entry.

Mc Naught and Company, as specialist property attorneys and conveyancers, are able to advise you fully of your rights and obligations in purchasing a new property.

Mc Naught and Co take Bluff agents to new heights

2010-01-11T20:27:00.006+02:00

Thursday last week saw Mc Naught and Company joining Amanzimtoti estate agents in getting going for 2010 with a visit to the new Moses Mabhida Stadium.

Today saw estate agents from the Bluff as well mortage originators in the area taking a trip to new heights. We all see the infrastructure development in Durban as a boost to the property market going forward.

Mc Naught and Company are revved up to take hands with our partners in the industry and make 2010 a bigger success than any year before with previously unsees service excellence!

Thank you to Acutts Bluff, Chelin's Real Estate, Dormehl Properties Bluff, Re/Max Advance, Seeff Bluff and Bond Choice for joining us in this unique experience

Durban Stadium 2010 - here we come

2010-01-08T08:11:00.003+02:00

It's a great start to 2010 and the buzz in South Africa is the Fifa 2010 World Cup Football which takes place during June and July this year.

Confidence in the economy and the property market is being lifted by the event and here to celebrate at the new Moses Mabhida Stadium in Durban are from top to bottom, Colin (Mc Naught and Co) with George Hardenberg (Huizemark Real Estate), Dave Mc Naught (on his way up in the Stadium Skycar) and Agents from the Amanzimototi area who see the Stadium as a boost to the economy and property industry in Durban.

Mc Naught's celebrate 21

2010-01-08T08:10:00.000+02:00

Dave gets ready for daughter Kate-Lynn's 21st Birthday with a Rubic's Cube theme... everyone needs to dress in the 6 colours of the cube then swop clothing with other guests to end up all one colour. Should be loads of fun.

'Tis the Season to be Jolly

2009-12-21T14:39:00.001+02:00

Better service delivery and tighter financial constraints, means that Mc Naught and Company will be open until the 24th December 2009 and then re-open on the 4th January 2010 with the Deeds Office, ensuring property registrations and bonds are not unduly delayed by the festive season.

We would like to thank all of our valued clients and associates for your support during a difficult year for everyone. With the upturn in the market and the 2010 World Cup Football event taking place in June and July we hope for and wish you all a very successful and prosperous 2010.

Top Marks in KZN for Tacey

2009-12-21T14:33:00.004+02:00

It’s a time to celebrate with Mc Naught and Co staff coming out top in KwaZulu-Natal.

Our attorney and conveyancer Tracey received top marks in her Notary’s exam this year (only 4 of 40 candidates passed the exam and Tracey was top!! Excellent work Tracey.

Both Mark and Colin have also completed their Admission Exams, degrees and Articles qualifying them to be admitted as Attorneys and additionally as Conveyancers in the New Year joining Tracey who was admitted as a Conveyancer earlier in the year.

This is an awesome achievement by our dedicated staff in 2009 - well done and congratulations!!.

Cancel Sales and Leases with care

2009-12-20T14:41:00.000+02:00

No one like to cancel a sale or lease but when a buyer or tenant defaults it is important to do it correctly. Court disputes this year confirm that in order to claim payment of any damages or commission from a buyer’s or tenant’s deposit, the seller must have followed the correct procedures to place the party in default and then cancel the sale or lease.

And if a sale or lease is cancelled by agreement it is imperative to deal with the consequences of the cancellation such as Agent’s commission claims, legal costs or damages as well as whether the deposit or any part is to be refunded… in writing!!

The wording of the original sale agreement needs to also be studied carefully as specific provisions dealing with default are set out in the document and need to be followed, failing which claims or retention of a buyer or tenant's deposit may be illegal.

So if you wish to sign a new lease or sale contract on the understanding that the old lease or sale has fallen through it would be wise and in the best interests of the client to first check exactly how the previous deal was cancelled or dealt with and what provisions were made for payment of funds or costs paid and making provision for this in the new set of documents being signed.

Bookings for 2010 World Cup in Durban

2009-12-19T14:51:00.000+02:00

Mc Naught and Company are members of the webite BookNow.biz which allows members of the public to make online bookings for consultations and meetings.

Book Now.biz is growing and has a range of services as well as accommodation offerings for the 2010 World Cup Football which kicks off in Durban in June next year with a match between German and Australia.

Check out more information on the website and the blog.

Download Anc/Pre-Nuptial Registration form

2009-11-11T17:17:00.004+02:00

Mc Naught and Company are registration attorneys for Ante-Nutial or Pre-Nuptial Agreements for couples (hetero-sexual or same-sex) who are getting married. All you need to do is print out the image above, complete the particulars and fax or email it back to us and we will prepare your Agreement for signature. After you have signed this - anywhere in South Africa - we will be able to arrange notarial execution and registration in the Deeds Registry closest to you.

Should you require any help, please do not hesitate to give us a ring on 031-4673810.

Sectionalisation of Everwood

2009-10-20T11:05:00.006+02:00

There are positive signs of recovery in the property market and Mc Naught and Company are involved as Conveyancers with the sectionalisation of the Waterfall development of 34 units, known as Everwood Estate.

The units are being put onto the market for the first time, although the development was completed several years ago and the units were rented out.

Undertaking a conversion to sectional title is something we at Mc Naught and Co specialise in from the initial options to purchase which have to be sent out to the existing tenants, to holding the tenants' meeting, preparation of the sale and information documents, attending at the development launch and handiling both the opening of the sectional register as well as the transfers of the property from the owner's name to the purchasers and the registration of the new bonds.

Prices range from R795 000 to R1 090 000 and can be bought from the developer directly or through Prime Estates.

Dave's Birthday again...

2009-08-25T08:43:00.003+02:00

It seems the year has flashed by again and it is Dave's Birthday again.

Most of the day was spent supervising the Guesthouse building alterations Dave co-owns and then a nice home cooked roast with mom, Llewellyn and the kids.

Interest rates down ,5% - now 10,5%

2009-08-18T15:53:00.003+02:00

August saw another 1/2% dip in the mortgage interest rates now down to 10,5%.

This is great news for home owners or anyone with mortgage or other finance from the banks.

It also means that the affordability level for mortgage bonds will have reduced and more people will now qualify for a home loan.. this helps the property market and will help boost confidence in the market which dived to an all-time low when rates shot up over the past 18 months.

New Market optimism

2009-08-18T15:40:00.002+02:00

With optimism growing in the property market, the Banks are embarking on new measures to lend money again.

At the forefront, Standard Bank is launching on the 1st October its new 100% loan deal and slashing registration costs by up to 50%.

This is good news for property buyers who are looking for some good deals to help clinch their sales. Ask for Mc Naught and Company when registering your next mortgage loan.

2009-08-18T15:37:00.002+02:00

A High Court case finalized this week draws attention to the importance of obtaining initials to any alteration to a sale contract. If the seller makes any changes to a buyer’s offer and these changes are not initialed (ie accepted in writing by the signature of the buyer) even if his conduct afterwards appears to show acceptance, the contract was effectively a counter-offer by the seller and is void.

This week’s case endorsed a claim for cancellation of the sale by a buyer with the prospect of voiding the Agent’s commission claim and allowing the buyer a full refund of the purchase price paid. BE WARNED!

Images for the Bluff Office

2009-08-18T07:42:00.003+02:00

Tired of looking for some suitable artwork to fit in with the new office decor, Dave has decided to make up his own art. Here are some of the images that he will be using to print onto glass.. you will see the finished product on the walls soon....

Out with the old, in with the new

2009-08-18T07:22:00.003+02:00

While times are still tough, we're renovating at Mc Naught and Company Bluff to give you a fresh look, new styles and mod design.. ready to take on the world as the property market improves.

In the photos, from top, the new carpet being fitted, middle photo Mark leathers gives painter Moses instruction on the stair area and below our reception counter prepares to make way for the new dark beech furniture which arrives tomorrow.

What this space for the transformation.

Relief for sellers in meeting requirements for electrical compliance

2009-04-16T20:37:00.004+02:00

New rulings regarding the issuing of electrical compliance certificates for residential properties effective from May 1 will simplify the demands made on sellers and buyers of residential property.

Sellers previously had to call in a registered electrician to inspect the electrical network and issue a current certificate and this had to be done prior to the transfer.

Now, however, any certificate issued in the last two years will be deemed valid, provided that no work has been done on the installation in the interim. Furthermore, the buyer does not have the right to demand a new certificate. If he wants such a certificate he must pay for it himself.

The electricians issuing such certificates now have to re-register annually, whereas before a once-off registration was acceptable. Under the new rulings it is now permissible for the owner or lessor to sign an agreement with the purchaser or lessee whereby the latter accepts the responsibility for the safety and maintenance of the electrical system. In addition, the electrician no longer has to guarantee the system is in full working order. He has only to certify that it is, in fact, completely safe.

This is a welcome clause because in the past electricians found themselves hauled over the coals time and again on account of minor malfunctions that they had not spotted, some of which may well have cropped after the transfer. An important provision in the new rulings, is that the test certificate has to accompany any new electrical compliance certificate issued. Such a certificate, would cover the entire electrical network.

What to do with the interest rate cuts??? INVEST!!

2009-04-07T13:06:00.002+02:00

Good news! The Reserve Bank has again cut interest rates by a further 1%!!! This equates to a considerable saving on your monthly mortgage bond repayment.

Just this 1% drop will save a home owner with a bond of R1 million a total of R600,000.00 in interest over 20 years, and a drop of 3% in the interest rate will make a difference of more than 1 million rand in interest repaid!

Accordingly, investing in property is getting more and more attractive and we say, bring on the interest rate cuts!!!

It's our 26th Birthday

2009-03-01T07:29:00.000+02:00

Wow, it's our 26th Birthday today.

On the 1st March 1983 Mc Naught and Company was founded by principal Dave Mc Naught with offices in Suite 1205, 320 West Street.

We are now in our 27th year and still going strong with the practice having decentralised to the Bluff in 1985 and with another office opening in Amanzimtoti in 2006. The Bluff office is situated at 555 Bluff Road and the Amanzimtoti office at 313 Kingsway, both offices having been built and owned by Dave.. always confident in the property market.

Dave now has two candidate attorneys who are due to be admitted as Attorneys later this year and has been joined by Professional Assistant Tracey-Lee.

Is Rental property still a good investment?

2009-02-17T10:27:00.002+02:00

Tenants all around the country are defaulting on rentals, with 18% of KZN tenants not paying their dues.

Statistics show however that tenants in the R3,000.00 to R7,000.00 per month income bracket are the most loyal regarding payments with 61% of these tenants making payment in full and on time.

A good credit check and sound lease agreement can however help landlords keep a good return on their investment in rental property, and Mc Naught and Company are ideally positioned to assist in both these aspects.

Year-end Function 2008

2008-12-04T19:34:00.008+02:00

We almost cannot believe we have nearly got to the end of the year and Christmas is around the corner. Seen in the photos at our Year-End function are the girls from Seeff (above), and Gail, Leon and Karen from Seeff (below) with Val (in blue) from our office.

Enjoying lunch with the bunch from Mc Naught and Company are Hettie, Hein and Jaco from Re/Max Bluff. Thank you guys for all of your support during 2008.

Instalment Sale Seminars

2008-10-23T07:53:00.004+02:00

It's been a busy time at Mc Naught and Company running Instalment Sale Seminars for those in the property industry.

In the photos are from top.. Mark Leathers from our Bluff Office helps out with the running of the Seminars, Pravashni (Bluff) and Colin (Toti office) give a hand with the lunch after the Seminar, agents from Eagle Estates, Huizmark, Re/Max and Pam Golding Properties share a lighter moment, Wendy of Colliers Toti enjoys her lunch, Agents from Sotheby's, Eagle Estates, Re/Max, Acutts and Pam Golding attend, and bottom Dave Mc Naught gives the Seminar presentation.

Registration as a Registered Credit Provider

2008-10-14T11:53:00.004+02:00

The National Credit Regulator has prescribed forms to register as a credit provider in terms of the National Credit Act.

Please see the link to the forms and the registration fees.

Mc Naught and Company are there to assist in all aspects of the registration process and our expert service is only a phone call away.

2008-08-15T11:33:00.009+02:00

Many owners with properties near the sea or perched on hill sides, have suffered in recent months with storms and washaways. Collapsing front boundaries, walls and driveways as well as structural cracking are problems.

Lack of landslip insurance or inadequate storm water drainage are main causes of the hardship. Up to R80000,00 per owner are some of the costs we have heard about.

To prospective property purchasers, we would recommend that all properties on slopes or with visible cracks be inspected carefully and owners be questioned about building and boundary stability to save costs and later fights with sellers.

These are two of the developments Mc Naught and Company have recently transferred properties in that are now faced with large unforeseen repair bills.

Finding the ideal home is a challenge for all, especially in the demanding market we currently find ourselves in. The usually arduous task of finding your home is now made easier. Check out this page!

Calculate your bond repayments

2008-08-15T10:48:00.004+02:00

We have found the link to the bond calculator here quite useful.

This link is provided as an information source and there is no agreement between ourselves and the bank regarding the use thereof.

Affordable homes being registered

2008-07-22T12:51:00.010+02:00

Whilst many home owners are battling with the increases in the mortgage interest rates over the past two years, the demand for housing is still not met. Mc Naught and Company specialise in property transfers and sectional title developments and continue to provide developers and contractors with advice and help in resgistering development schemes fast.

Pictured are examples of the types of development our offices have been involved in and are able to register fast.

Agents must apply to display

2008-06-26T15:58:00.003+02:00

For the second year running, Cape Town's estate agents and auctioneers must register individually with the municipality for permission to display property marketing boards and directional signage on city council property.

The City of Cape Town announced in a statement on Tuesday that agents and auctioneers will be expected to register from July 1, with all applications due in by July 20.

The city said in its statement that each agent would be required to pay an annual registration fee of R551 and a display fee of R659. Any agent who had not contravened the regulations over the past year would only have to pay the registration fee and R10 for six permit stickers, it said.

Six permit stickers will be issued per agent for 2008/09, which will limit the number of directional signs allowed on council-owned property.During the past year, the city has removed directional boards found with photocopied or counterfeit permit stickers.

Municipal by-laws allow the city to withdraw offending agents' permits, and the city has warned that it would prosecute any agent or auctioneer who used fraudulent stickers.

This perhaps illustrates how other local authorities are applying more restrictive condtions for property advertising and similar rules could soon be seen here too.

The Outlook for the SA Property Market

2008-06-11T09:07:00.005+02:00

A war of words has broken out between estate agents and bond originators as news of a pending property crash gathers force, with price drops from 10 percent to 40 percent predicted.

While some agents insist homeowners should not be swept up in the panic, others are frank that the property market is in serious trouble.

On Monday, the Cape Argus received an e-mail marked "urgent" from ooba, formerly Mortgage SA, which charged that "recent alarmist forecasts by property market commentators" had caused homeowners "undue concern". Homeowners, they urged, should not be swept up in the "scaremongering" because the current weakness was only a "short-term situation".

The fracas started with a letter from Lew Geffen, head of Sotheby's International Realty South Africa, to his franchise owners in which he predicted the pending crash at a 40 percent decrease, adding that there were 60 percent fewer buyers in the market now than at the same time last year.

These stirrings in the property industry are indicative of the problems now faced. With individual sales and transactions, Mc Naught and Company have the experience and expertise to help with each property sale and re-introduce certainty and reliability with each transaction being handled by our offices. We also offer guidance to estate agents' on customised clauses to help strengthen a sale agreement.

Seminar Success

2008-02-05T12:58:00.000+02:00

January started off with a bang, despite the damp squib property market as Mc Naught and Company launched it’s series of seminars to help those in the property industry sharpen pencils and make things happen. We are also putting together an exciting package for property developers which will help put owners, architects, bank financing and conveyancing expertise together to help get building projects off the ground in 2008.

Captured by the camera:

↑Dave delivers his audio-visual presentation on Sales Contracts and clauses.
→ Delegates share a lighter moment at the Sales Contract Seminar held in January at Mc Naught and Co’s offices.

Contract Seminars

2008-01-16T08:55:00.000+02:00

Mc Naught and Company will again be hosting seminars on sale contracts for estate agents in the Amanzimtoti Area.

These seminars cover everything from wording of suspensive conditions through to guidelines on how to save a sale, and give estate agents an opportunity to question us on various legalities that they might want more information on.

The seminar takes place in the morning, followed by lunch and is the perfect opportunity to hone skills in a relaxed environment.

To book for the 30th January 2008 or 13th February 2008 seminars taking place at our Amanzimtoti offices, just call Daphne on 031 903 7307.

Tax Update - Deduction of Medical Expenses

2007-12-06T11:36:00.000+02:00

Presently, in terms of section 18 of the Income Tax Act, a taxpayer may deduct medical expenses for immediate family members from taxable income, provided these expenses exceed 7.5% of the member's taxable income. SARS has found it difficult to verify these expenses as medical schemes issue certificates in respect of all medical scheme beneficiaries, an not only for immediate family members who are the potentional subjects of deductions.

In order to stremline the SARS registration and sudot processes, the reference to immediate family for medical scheme mebers has been extended to include all medical scheme beneficiaries. This should hopefully simplify the administration for both medical scheme members and their beneficiaries.