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PROPERTY ADVICE
Q1 .
ARE APPROVED PLANS A LEGAL REQUIREMENT FOR SALE ?
There is a common misconception among buyers , sellers and even some property professionals that approved plans are a legal requirement for a sale . However , it ’ s perfectly legal to sell a property without approved plans . It might just be a little trickier than if they were available .
The trouble is , a lot of banks insist on seeing approved plans before granting buyers ’ finance . They basically want to make sure there ’ s nothing illegal about the structure that might impact the security of their investment . So , while you don ’ t legally need plans to sell , you may find it very difficult to secure a buyer without them unless you ’ re lucky enough to have a cash offer on the table .
Q2 .
HOW DO YOU GET COPIES OF YOUR APPROVED PLANS ?
To get copies of approved plans , you ’ ll need to apply at your local district office . Application forms can usually be downloaded in advance , and can even be submitted by email in some municipalities .
You ’ ll need to provide ID , your latest rates bill , erf number and physical address . If you ’ re not the registered owner of the property , you ’ ll also need a copy of their ID and a letter of consent .
182 SEPTEMBER 2022 SA Real Estate Investor Magazine