What types of properties are sold by CUF Properties (Pty) Ltd?

 

CUF Properties specializes in selling affordable housing properties which were acquired in bulk from either investors who disposed of their affordable housing portfolio’s or from bulk purchase from financial institutions.

In many instances properties purchased by CUF Properties currently have illegal occupants resulting in CUF Properties working closely with the communities to ensure vacant occupation once the residence is sold and transferred or CUF Properties have obtained, or is in the process of obtaining Eviction Orders.

 

• Full title houses

• Sectional title units

• Cluster units

• Building packages

• Serviced vacant land

 

What are the benefits of purchasing an affordable housing property from CUF Properties?

 

• Affordable houses are sold at a significant discount to market value;

• Assistance in obtaining bank finance;

• Assistance in obtaining housing subsidies if the Purchaser qualifies;

• In certain instances CUF Properties will pay the transfer costs;

• In certain instances CUF Properties will facilitate the relocation of illegal occupants;

• In certain instances CUF Properties will renovate properties.

 

Are asking prices negotiable?

 

In the majority of instances the Asking Price is negotiable taking into consideration factors such as :

• Occupancy status;

• Costs to relocate current occupants, if applicable;

• Costs to renovate the property, if applicable;

• Costs to evict illegal occupants, if applicable;

• Transfer costs and

• Costs to obtain an Electrical Compliance Certificate.

 

Is it possible to request information on affordable housing properties in specific area’s?

 

Yes, simply register your interest on the CUF Properties website or contact the CUF Properties Sales Team Leader or Sales Manager :

 

Chance Mthombeni

072 541 6005             

chance@cufp.co.za

 

or

 

Robert Hawley

073 975 7725

robert@cufp.co.za

 

CUF Properties sold via online auctions?

 

No.

 

CUF Properties advertises and lists it’s affordable housing properties which are for sale on it’s dedicated sales platform.

When you submit an offer on an affordable housing property you are not bidding against anyone else.

CUF Properties will inform prospective buyers when other offers are made on a property to afford them the opportunity to increase their offer if they so wish.

 

On what grounds does CUF Properties accept or reject an offer?

 

CUF Properties accept or decline offers on a property at their sole and unbiased discretion considering the following factors during the process :

 

• The amount offered in relation to the asking price;

• The amount of deposit to be paid;

• The ability of a potential purchaser to service his/her monthly bond repayments; and

• Other factors which might be relevant in the sole discretion of CUF Properties

 

It is therefore possible that the highest offer on a particular property might not be accepted due to any of the above reasons.

 

Is CUF Properties an estate agency?

 

No.

 

CUF Properties does not act as agent on behalf of other property owners.  CUF Properties only sells affordable housing properties where it is the registered owner or legally entitled to act as owner, if not the registered owner.

 

Does CUF Properties sell properties to make a profit?

 

Yes, however profit margins are dictated by ruling economic circumstances and prices of comparable available residential properties.

 

Are all offers on any given property considered?

 

Yes. All offers are logged on a central database where CUF Properties will review and consider each offer, unless below the minimum threshold.

 

Why can I make an offer on a property when a transaction is already in progress?

 

Until registration of transfer of a property in the Deeds Office, it is possible for a transaction to be cancelled, due to non-compliance by the Purchaser.  In those instances CUF Properties will revert to the next offer that could be pending.    

 

What happens when I make an offer on a property?

 

There are four steps involved in making an offer on a CUF Properties property when submitting an offer via the CUF Properties website.

Step 1: Making the actual offer on the CUF Properties website

When you make an offer it is received by the relevant CUF Properties Sales Consultant for consideration. CUF Properties will send you an e-mail confirming receipt of the offer as well as your details and the property details.

Step 2: Your offer will be accepted or declined by CUF Properties

If CUF Properties accepts your offer you will receive a confirmation e-mail containing the Offer to Purchase, which verifies that your offer has been accepted in principle. The relevant CUF Properties Consultant will also contact you to confirm this. If you choose to proceed, you are required to complete the Offer to Purchase within 48 hours and return it to CUF Properties via fax or e-mail, along with the supporting documentation stipulated in the confirmation e-mail.  Should you fail to respond in good time CUF Properties reserves the right to accept alternative offers. If  CUF Properties declines your offer, you will receive an e-mail to that effect. You are then welcome to make another offer!

Step 3: Completing the Offer to Purchase

Once you have completed your Offer to Purchase and sent it to CUF Properties within 48 hours from notification of acceptance, it is your responsibility to contact CUF Properties on 010 001 5198 to confirm that the Offer to Purchase has been received in good order. When CUF Properties countersigns the Offer to Purchase the offer is deemed as formally accepted. You then have 48 hours to deposit the amount stipulated by yourself as deposit, when you submitted the Offer, into the trust account of the conveyancing attorneys, details which are contained in the acceptance e-mail referred to in Step 2 above.

Step 4: Arranging Bond Financing

After acceptance of your offer you normally have 60 days to arrange for bond financing, however, CUF Properties will be able to assist you with this process. Should you be unsuccessful in securing financing within this time-frame CUF Properties reserves the right to terminate the transaction and accept an alternate offer on the property in question. All decisions and actions by CUF Properties in this regard are final and no correspondence will be entered into.

 

How long does it take to register an affordable housing property sold by CUF Properties?

 

Each transaction is unique however it is possible to register the transfer of properties within 90 days from signature of the Offer to Purchase however experience has proven that 120 to 180 days are more appropriate in this instance.

 

How secure are my personal details on the CUF Properties website?

 

Data exchanged with CUF Properties is kept on a secure server and never provided to any third party without your specific consent. The only information needed to make full use of the website is the user’s contact details.

 

How do I stop receiving e-mails?

 

Simply click unsubscribe at the bottom of the e-mail you have received.