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The Property Transfer Process

Normally there are 3 attorneys involved in the transfer process, being the transfer attorney, bond cancellation attorney and bond registration attorney. The transfer attorney is the conveyancer that has been instructed to attend to the transfer of the property and registration in the deeds office.

 

The Start  

​The Buyer & Seller sign the Sale Agreement

The Buyer's Bond is approved by the bank*

To enable the Conveyancer to prepare the transfer documents, he will require the Purchaser’s & Seller’s details together with copies of their Identity documents, marriage certificates, ANC’s, divorce orders, etc. After receiving these documents & the original Title Deed, the Conveyancer will prepare the transfer documents & his proforma account. The Parties will then be called upon to sign the documents and the Purchaser will be called upon to pay the Conveyancer’s costs.

Figures & Conditions

  • The relevant Conveyancing Attorneys are instructed to carry out the transfer and bond registration.

  • The Title Deeds and Cancellation Figures

  • The Rates Clearance Figures and Valuation Certificates

  • Levy Figures*

  • Guarantee Figures*

  • Sale Conditions

  • The deal only proceeds when the suspensive conditions in the Sale Agreement are met (such as the sale of an existing property).

Signatures & Payments

  • Once all conditions have been met, the transfer and bond documents are drafted by the relevant Attorneys.

  • The Buyer & Seller sign the respective transfer documents.

  • The Buyer signs the bond documents.*

  • All relevant Transfer cost are paid by the Buyer.

  • The Seller pays their rates, including advance rates if required.*

  • The Transfer attorney applies for a transfer duty receipt from SARS, a Rates Clearance Certificate and a Levy Certificate* and makes the necessary payments.

Compliance Certificates

The Seller is now required to provide these compliance certificates:

  • Electrical, Plumbing*, Beetle*, Gas*, Electric Fence*

Guarantees

  • The Attorneys provide Guarantees from the Buyer's Bank for the purchase price, or the balance of the purchase price if a deposit is being paid up front.

  • The Seller's existing bond on the property is prepared to be cancelled.

  • The Attorneys ensure FICA Compliance as a protective measure against fraud.

Lodgement

  • When all documents are signed, costs are paid certificates obtained, the documents are prepared for lodgement in the Deeds Office.

  • The documents are examined in the Deeds Office (+10 working days).

  • After 7-10 working days, the Attorneys will be advised that the matter is "Up for Registration" and have 5 working days to finalise anything outstanding.

Registration and Proceeds

  • The Conveyancers appear at the Deeds Office to register Deeds.

  • Ownership passes from the Seller to the Buyer.

  • The Buyer's new Bond is registered.*

  • The Seller's existing Bond is cancelled.*

  • The Guarantees are paid.*

  • The Seller is paid out the net proceeds.

  • The Estate Agent is paid their commission.

  • The new owner takes occupation of their new property.

The Final Step

  • The Buyer and Seller have long-since forgotten the process and have settled into their new lifestyles.

  • After approximately 3 months, the original Title Deed and Bond Documents are delivered back to the Attorneys by the Deeds Office and a Levy Certificate* and makes the necessary payments.

  • The original Title Deed is delivered to the Bank (if the property is bonded) or to the Owner. A copy of these documents is normally sent to the Buyer & Seller by the Attorneys.

* If applicable

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