Marika Sboros’s excellent q&a with the inimitable Prof Tim Noakes is presently all the rage on Biznews. Rightly so, as it gives the deep thinking doctor an opportunity to address growing criticism of his best selling book. Another story that’s generated a lot of attention is Jackie Cameron’s mea culpa on her property mistakes. Interest has been fanned through sharing by some community members of their own toe-stubs.
My property disaster happened a quarter century back, starring a callous estate agent and a panicky bank manager. On paper, there was enough to cover the balance of the deposit from profit on the sale of our home. But the bank manager decided to swing onto a chunk of it to liquidate my personal loan, even though that was unrelated to the property transaction. His action meant I came up short on the cash amount. Despite the deal falling through, the agent made sure she grabbed her full commission from the up-front deposit which, of course, was just enough to cover her 7.5%.
Instead of enjoying our new home, we ended up homeless and penniless. Not an unusual circumstance for a young journalist. But with three small children and a struggling business, it was one of my more challenging periods. With hindsight, it taught me two good lessons: Be absolutely certain all ducks are in the right rows when dealing in property. And only sign an offer where the agent is only paid if the deal is actually consummated.
Yesterday’s top stories:
Tim Noakes ā making a āReal Mealā of critics who say his diet is dangerous
Mine CEOs will not attend Amcu mass meeting
Naspers: billions to spend on acquisitions
How to get very rich: lesson #1 ā invest in stock markets
SAPA reports on ābizarreā press briefing over SABC wife allegations
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