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It’s been an action packed start to 2022!
The 1st of February saw the introduction of the new Property Practitioners Act, which is without a doubt the talk of the town, but also looming is the 30 June deadline for Property Practitioners who have held an FFC for more than 2 years.
Those that have fall into that category are required to have completed their logbook, NQF4 and PDE4 Exam, or face penalties from the PPRA (previously EAAB)
We have just finished a week long “NQF4 crash course” to ensure our valued supporters beat the 30 June deadline, thank you to the more than 80 Property Practitioners that attended both online and in our training center in Rivonia.
Giving back to our industry is something I am really passionate about and will continue to do so in 2022. I am going to be taking some time out with my family for a bit in March, but will be back with a bang towards the end of the month.
Thank you as always for your loyal support!
Cor van Deventer
Cor van Deventer - Director
Arno van Deventer - Director
Dear Valued Clients & Friends,
There’s a lot of speculation around the new Property Practitioners Act and subsequent Regulations from everyone in the industry. The most common questions we get are about training of agents and how this will change under the new regulations. At this stage, the new requirements are very much “up in the air” with additional instructions expected from the PPRA over the course of the year. Note that both LOGBOOK and the NQF4 REAL ESTATE COURSE (as we know it) will be discontinued under the new regulations.
These new regulations will not apply to current full status agents or current intern estate agents who had a valid FFC prior to 1 Feb 2022. However, it will take time for the relevant professional bodies to create and implement the new courses. As such, the PPRA may bring in transitional provisions for the phasing in of some or all of the new training requirements under the new Act.
In other words, business as usual until further notice!
Property Practitioners Regulations - 2022
The new registration status levels under the PPRA are as follows:
The PPRA will require the following for agents to become fully qualified:
As always, the Phoenix/Van Deventers team will review any updates brought out by the PPRA and adapt our training courses to suit the needs of our supporting agents and agencies within the industry. We will endeavor to continue our Logbook, NQF4 Real Estate and PDE4 Prep courses until the new requirements are released, and will adapt these courses as and when required by the PPRA.
We look forward to assisting property practitioners with a more streamlined, industry-specific and practical approach to training.
Please click this link to register for upcoming training sessions.
Hannah van Deventer
For most people, buying a property is the most important investment they will ever make in their lives. Having a roof over your head is indeed one of the most basic needs for human survival. This is primarily the reason why the right to adequate housing is protected under Section 26 (1) of the Bill of Rights in our Constitution. Section 26 (2) goes on to place an obligation on the State to make reasonable interventions towards the progressive realization of this right. The approach of our courts in relation to housing has, to date, been decisive and important, emanating as far back as the Grootboom case.
Despite sale in executions being of commercial necessity, the courts have also made important pronouncements towards the protection of the interests of home buyers in the process. We might remember the case of Absa Bank Ltd v Mokebe and Related Cases back in 2018 where the full bench of the South Gauteng division of the High Court held that a reserve price must be set whenever an order for execution is granted against a property which is the primary residence of the debtor, albeit in circumstances where the facts justify such an order. A reserve price in this context is the minimum acceptable amount at which an item can be purchased at an auction. The judgment was aimed at alleviating incidences where properties were sold on auction at unbelievably low prices. The unfortunate consequence of this is that over and above losing a home, the debtor will still bear the burden of settling the outstanding capital debt, interests, legal fees and any other attendant costs under unfair circumstances.
That being the case, what is the ensuing procedure where the reserve price is not achieved on auction? The South Gauteng High Court recently answered this question in Changing Tides 17 (Proprietary) Limited N.O vs Kubheka, Dumisani Nelson And Another 13719/2016; Changing Tides 17 (Proprietary) Limited N.O vs Mowasa Maletsatsi Augustina And Another 14932/2016; Changing Tides 17 (Proprietary) Limited N.O vs Bucktwar Rishal 14488/2017; Changing Tides 17 (Proprietary) Limited N.O vs Horsley Robert Harry 11647/2019 [Judgment delivered 15 February 2022] where it held that where the reserve price is not achieved, the matter must be dealt with in Court by way of a proper application factoring in the provisions of Rule 46A (9) (c) (d) and (e). The application must seek specific relief and make submissions such as the auction being adequately advertised, reliable evidence of the true value of the property and why the reserve price is considered too high to the extent of it being the sole cause why a higher bid was not achieved. The application must be served on the judgment debtor as well. Rule 46A (9) (d) of the Uniform Rules requires that within five (5) days from the date of the auction, the Sheriff must submit a report to the Court providing the details of the attendees, the highest bid offered as well as the date and time whereat the auction was held.
The latest judgment goes a long way in protecting the interests of consumers of home loan credit facilities, affording them a chance to prevent the sale of their property at a disadvantageous price. At Van Deventer and Van Deventer Incorporated we have fully acquainted ourselves with the judgment and we stand ready to assist judgment creditors and judgment debtors during the currency of the procedure.
2022 has started off with a bang. Besides our Logbook for Interns training kicking off in large numbers, there seems to be an overriding positivity in the Cape Town property market.
We are currently experiencing a high percentage first time Buyers which is very encouraging. Also, the “semigration” to the Western Cape is continuing unabatedly.
Properties are taking 6 to 8 days to register at the Cape Town Deeds Office, which is a massive improvement from where we were a few months ago.
The Property Practitioners Act has added some chatter to the industry which is good; stagnation is never a good thing.
Get to know: Thobile Buthelezi,
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