What does it really mean to buy or sell a property VOETSTOOTS? To buy or sell property voetstoots is buy/sell as is or as it stands, i.e with all defects, potential defects, visible and invisible. However, even is buying a property voetstoots, you as a buyer have the right to have of a thorough inspection of the property before deciding to buy the property. Also, the buyer is liable to answer you correctly should they be asked about any defects or potential defects to the property they are aware of. Should you buy a property that becomes faulty and you discover that the seller was not honest at the condition of the house, you can charge the seller and have him found guilty of fraud.....ONLY IF YOU CAN PROVE IT-which is often the hard part. My advice: Have the place inspected before buying any property, even if its a voetstoots clause. Inspect namely the foundations, the structure, roofs and any such defects that would make the property unfit for its purpose. You dont want to have the walls tumbling in on you the first week of your purchase ;) #Mustknows #Propertyterminology #JoburgCapitalPartners
Posted on: Thu, 01 Jan 2015 20:40:52 +0000
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