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Property
Friday, February 1, 2002
Buyer protection

The increasing demand for property valuations following the introduction of Capital Gains Tax should give a welcome boost to Home Inspector and Home Warranty Services, which offer the following products:

• Home Inspector, an inspection service offered to buyers, sellers and estate agents to protect them from buying or selling structurally flawed and defective houses;
• Home Valuer, which provides a registered valuation report including a property portfolio; and,
• Home Warranty, which covers the gaps in cover in general short-term insurance policies through Propsure for commercial properties, and HomeSure for residential properties.

Jigsaw Holdings is the parent company to Home Inspector and Joint Venture partner with Home Warranty Services. It recently announced its unaudited results for the six months ending 31st August 2001, which revealed an increase in headline earnings by 45% from R2,7 million to R3,9 million. Group revenue increased 43%.
According to the group’s CEO, Gian Sdoya, “The 70% stake in Home Inspector and a Joint Venture with a 70% stake in Home Warranty Services was finalised in 2001, and the initial phase of product entry into the market has been tackled.” Both companies entered the inspection, valuation and insurance industries about a year ago. He adds that they “have realised technological advances to the benefit of the group as a whole.”
Comments Max Lourens, CEO of Home Inspector and Home Warranty Services, “Although both companies experienced difficulties at first in penetrating the South African market, nine months down the line we have successfully negotiated with banks, large institutions and estate agencies to make our products and services a reality. We have a long way to go in having the peace of mind provided by inspection and warranty accepted as the norm when buying a home; but since 77% of all homes in the USA are inspected and 32% warranted, we have our goalposts clearly set.”
He says that buy-in within the group estate agencies has taken off well and the advantage provided by inspection and warranty in obtaining sole mandates is starting to bear fruit for franchisees. For further information please call 0860 707 707, or visit: www.homeinspector.co.za or www.homewarranty.co.za.

Copyright © Insurance Times and Investments® Vol:15.1 1st February, 2002
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