Upon looking at properties ages between 35 and 40 years old something unexpected turned up. All the evaluations was more than 3 times then what the houses where worth about 5 years ago “some longer”
Then it hit me, the higher the evaluation the more money the bank stands to make, the higher the transaction commission AND because of the evaluation the property “tax” shoots up phenomenally.
The one property actually shot up 8 times its original asking price! And it is also a very old property! The aria went from bad to worse and the house is a scrapper...
Considering the life-span of brick wood along with the electrical and plumbing how old can a house get before it becomes a condemned property? Are these factors considered upon evaluation of the property?
Also can South Africans with normal earnings afford property? The truth is the answer is for the most part no. They simply can’t
So the big question is; who do you complain too?
It appears that there are no laws governing the sale of property at all.