How To Avoid Early Cancellation Bank Penalty Fees

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Avoid Bond Cancellation Penalty FeesFor those property owners that are wanting to sell their properties the odds are that you have a mortgage on that property with one of the banks.

When a seller sells their property the existing mortgage needs to be canceled on transfer and the seller is responsible for payment thereof.

Most sellers are unaware  that you need to give your bank notice of your intent to sell and therefore cancel your home loan.

If you cancel your home loan/bond within the first 2 years of your mortgage you will be liable to pay penalty interest of about 1% of the outstanding bond amount. If you owe R500 000 that’s about R5000 in early cancellation penalty fees and on a R1 million bond that’s R10 000 in penalties that you will need to pay which will come off your proceeds of the sale.

This cost can normally be avoided by giving the bank 90 days notice of your intent to cancel the bond. So what this means is that you need to fax a written letter or email to your bank before you even put your home on the market. Most estate agents will not tell you this but it is an important step to take when selling your property.

The 90-day notice period will only waived under the following conditions:

  1. If its a deceased estate.
  2. If you are been sequestrated.
  3. If you are buying a new property and taking out a new bond is with the same bank.

Many sellers get confused thinking that by giving the bank 90 days notice that they are cancelling their bond in 90 days. This is NOT the case, in that if your house does not sell within that period you just need to renew your intent letter but your bond will not be cancelled until such time as the conveyancer’s request for cancellation figures from your bank and the conveyancers will only do this once your property has been conclusively sold and they have received all the necessary guarantees.

Organizing Tips For Your Next Office Move

office relocation serviceAn office move can be stressful especially when considering business operations. You need to keep the business up while moving, and after moving. Failing to do so can negatively affect your customers, income, and productivity.

Here are tips to for hiring a professional moving company for an efficient move:

1. Furniture first

Find the good spots where you can place a work desk. They should have good lighting, good electrical provisions, and a quick exit path for emergencies.

2. Find the best spot for your computer

Pull up a chair near the desk, and find a comfortable position for working on a computer. Make sure you’re not creating a strain on your body. You should consider a space conducive to work habits like emptying a space for spreading out project materials.

3. Set up the tech stuff

Plan the most efficient locations for your technical equipment. You might be using one thing more than another, so think about placing them within reach.

4. Organize cables

Save yourself from the hassle of finding which cable goes with what. Organize your cables with labels or cable ties.

5. Place current projects on your desk

Stay on top of your projects by keeping them in sight.

6. Organize your drawers

Consider placing the most accessed materials within reach.

7. Keep your desk supplies to a minimum

Minimize clutter by keeping only the items you need on your desk. These can be note pads, pens, or inboxes – it all depends on what suit your needs.

8. Put Books and Archives Last

These should be your last priority. Organize them as you pack them in boxes, and label them with dates.

Save yourself from the headache by organizing your things before and after moving. Also remember to stay on top of current projects and sensitive data.

If you follow these steps, and work closely with your office moving company, your next office move will be smooth sailing.

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3 Commonplace plumbing myths to avoid

When learning about maintenance of your plumbing systems (solar geyser installations, fixing leaky pipes, etc), it’s important to know effective practices that keep you from causing damage to your pipes. Here are three myths you need to know and avoid.

plumbing services1. Things are going down the drain, so there’s no problem!

It may seem to be working fine but you may still have a serious clog. If you notice a slow draining or fragments that stay on the discharge pipe, it’s possible that you have a developing clog. You should immediately stop using it, and have it fixed as soon as possible.

2. Plumbing Doesn’t Require Too Much Maintenance

This is a serious one! What homeowners may not know is that pipes can be affected by clogs, tree roots or home foundations. You should be checking sewer cleanouts. These can lead to bigger, more expensive repairs like sewer line or pipe replacements. It’s best to keep watch on all your plumbing fixtures from pipes to sinks and faucets.

3. Run Water During Garbage Disposal So Waste Travels Smoother

Don’t throw everything down your garbage disposal, the running water won’t help either. Food items, especially the hard or thick ones such as banana peels and shells can damage your disposal. This can potentially cost you a lot of money. But if you really need to run thick foods down the disposal, break them or mix them with water before throwing them.

3 Garage Door Types for Modern Homes

Garage doors often form part of the first line of security for your Pretoria home. They also add to the first impression when your house is first viewed by potential buyers. It would be foolish to underestimate the value it can add, or detract, from your home when the time comes to sell. Over the past decade, many advancements have been made in the garage door industry. Today the most popular garage door is the overhead door, replacing the trusted hinged or pivot garage door of old.

There are a number of different garage door types you must consider when doing a new installation, or performing an upgrade of an existing garage door.

The sectional overhead garage door is commonly used, and consists of three to four sections, or panels. Hinges connect these sections together, and the sections roll up and over a large coil when opening and closing. A good deal of ceiling space is require for the large coil, while mechanical problems can be experienced.

Roll up overhead garage doors are made of multiple smaller sections, and can be more expensive. When opening the garage door, these sections roll up into a compact coil. These panels require regular car, but use less ceiling space compared to the sectional overhead door type.

The tilt up type of garage door is seldom used in new installations, and is considered by many to be outdated. This door consists of a single panel, and places a lot of tension on the motor when opening and closing. While the design of these doors can be easy on the eye, this door isn’t as secure as others.

These are only 3 of the various garage door types that are still being used. Once a type has been decided on, you also need to look at the various garage door materials that can be used. Most importantly, you must find a reliable garage door company. At StormC, we have used Right Quip Garage Doors in the past, and we can gladly recommend them.