A: Put pen to paper and sign an offer to purchase to buy the property.
The seller appoints the transferring attorney in the agreement of sale. If you wish to appoint our firm as your transferring attorney (also known as a conveyancer), it is important to include this in your offer to purchase. Send us the draft offer to purchase to advise you and/or to instruct us to rather draft a tailored offer to purchase. Contact us to assist you.
A: Do your part to secure the purchase price, by either paying the purchase price, obtaining bond approval, or selling your property and meet all suspensive conditions. As soon as the purchase price is secured, the property is successfully sold, and the transferring attorney starts with the process to register the property in your name.
A: The purchaser’s most significant costs are transfer fees and bond registration fees. These fees are prescribed and regulated by the Legal Practice Council of South Africa. If no bond is registered (meaning a cash sale), only transfer fees are payable. Other costs may include, the bank’s initiation fee, FICA fees, municipal water account deposits and upfront payments of future body corporate levies. Contact us for an accurate quotation.
A: It is established practice that the Seller appoints the conveyancer. Only the seller or his/her appointed conveyancer may transfer ownership to the purchaser.
A: The Purchaser may appoint the Conveyancer if it is mutually agreed by both seller and purchaser. This must be in writing and included in the sale agreement.
A: Typical costs are the estate agent commission, bond cancellation costs (if a bond was registered over the property), expenses to issue compliance certificates (e.g. electrical, gas or electric fence). The Seller’s transfer fees are low in comparison to the transfer fees of the Purchaser. Contact us to provide you with advice on the Seller’s costs, risks or options.
A: Yes, if you wish to obtain your properties original title deed. Fees are payable to a cancellation attorney to cancel the bond on your property at the Deeds Office. Alternative homeowners insurance arrangements might be required if your property is insurance through the bank.
A: Legislation allows a property owner to apply to the Registrar of Deeds for a duplicate copy of the title deed. Application is done through a conveyancer. A conveyancer is also required to place an advert in a newspaper circulating in the area where the property is situated, giving notice of the intention to apply for a copy. Interested parties by object to the issuance of the certified copy.
A: A standard contract may not cover all the parties’ needs to a property transaction. To avoid disputes and financial detriment have an attorney draw up a tailored agreement of sale.
A: Normally 6 to 8 weeks, depending on a range of variants, to name but a few: municipal clearances, SARS, delayed occupation dates, compliance certificates, a deceased estate sale.
A: An offer to purchase becomes a legally binding contract once the Seller accepts the offer. It is a seller’s right to accept, reject of make a counteroffer to the offer to purchase. Carefully read the terms and conditions of the offer before signing, as once you have signed, you cannot easily change the content.
A: A full title property awards you ownership of the land and any improvements built thereon. A sectional title property on the other hand gives you ownership to the section demarcated on the sectional plans, which usually only consist of the enclosed buildings. A townhouse and a duet house fall into the sectional title category.
