Understand the process

 

How do I buy a property?

· Find the house which suits your needs and pocket the best.  You can either use;

· an estate agent

· or you can contact the owner directly.

· The Process of buying a house, starts with a DEED OF SALE

· Make a written offer to the Seller.

· As soon as the Seller accepts and signs the offer, a valid deed of sale exists.

· Ask an attorney to peruse through the deed of sale before you sign.

· The Seller has the right to appoint the attorney who will attend to the registration of the transfer in the name of the Purchaser.

 

Contact us should you need any assistance in this regard.

 

The Process

We would like to emphasize that this summary does not contemplate legal advice.  Please feel free to contact us with any queries and/or assistance.

 

1. We will phone you as soon as we receive the Deed of Sale and/or Bond instruction.  The seller’s bond settlement amount will immediately be requested from the relevant institutions.  The financial requirements in terms of the approval of a bond, and payment of deposits are closely monitored and actively followed up.
 

2. Signature of all Transfer and Bond documents at our offices.  Payments of both Transfer and Bond registration fees would usually be requested from the Purchaser at this stage.
 

3. As soon as we receive these costs we proceed to pay Transfer duty to the South African Revenue Service, and rates & taxes and levies to the relevant authorities.
 

4. After we have obtained the Transfer duty receipt, levy certificate and rates clearance certificate we arrange lodgement of documents in the relevant Deeds Office.
 

The time from lodgement of documents to registration is usually 10 – 12 working days.  Before registration we determine that all contractual obligations have been met.  Only on registration the purchaser becomes the legal owner of the property, and the seller receives the proceeds from this transaction.