The Transfer Process
Signature of the Deed of Sale
The seller and purchaser conclude a contract for the sale of immovable property. This is done with a private agreement or an estate agent.
Instruction to Transfer Attorney
The seller or the estate agent sends the signed deed of sale to the transferring attorney to proceed with registration at the Deeds Office.
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Transferor (Seller) & Transferee (Purchaser)
The seller and purchaser will be contacted and requested to provide the attorney with FICA documentation to proceed to draft the transfer documents for signature
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Signing documents
After the documents was drafted the parties will be contacted to sign documents.
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Guarantees
The transfer attorney will request the cancellation figures from the bank. After same is on hand the transfering attorney will collaborate with the bond attorney to request guarantees.
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Rates
The transfer attorney will request clearance figures from council valid for 3 months in advance to pay the municipality on behalf of the seller to obtain a clearance certificate for lodgement at the Deeds Office.
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Transfer Duty
After the documents was signed the transfer attorney will submit a transfer duty application at SARS to obtain a receipt or exemption certificate for lodgement at the Deeds Office.
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Levies
If there is a managing agent eg. body corporate or home owners association applicable the transfer attorney will request levy figures valid for 3 months in advance to pay on behalf of the seller to obtain a clearance certificate for lodgement at the Deeds Office.
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Electrical
The seller is obliged to provide the purchaser with a Certificate of Compliance in respect of the electricity on the property to ensure that it is save to use prior to registration. The transfer attorney will arrange the said certificate on behalf of the seller if not provided.
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Lodgement
Once the parties signed, all costs was received and the relevant certificates was obtained from the 3rd parties the documents is lodged at the Deeds Office.
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Prep
The documents will be checked by 3 levels of examiners to ensure that all is in order before it comes on preperation (prep). The turn around time at the Deeds Office is approximately 5 – 8 working days from lodgement to prep. The simuls will proceed with registration on prep if all is in order.
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Registration
Matter registered. The parties will be informed that the transfer was done. The seller will receive the balance purchase price and the estate agents commission will be paid. The transfer attorney will wait for delivery of the original title deed which will be dispatched to the applicable party.