![]() ![]() The purchaser normally bears the cost of the transfer and will be liable to pay the rates, taxes, transfer duty as well as the conveyancer’s fees for attending to the transfer. The conveyancer will also request and arrange for the purchaser and the seller to sign the transfer documents. The Seller’s conveyancer will attend to the drafting of the deed of sale and transfer, which will in turn be lodged with the Deeds Office. STEP 3: DRAFTING OF THE DEED OF SALE AND SIGNATURE OF TRANSFER DOCUMENTS Once these documents are ready, the municipality will provide the conveyancer with a rates clearance certificate and SARS will issue a transfer duty receipt after receiving payment.Īfter the purchaser applies for a bond successfully, the financial institution will send an electronic instruction to its Bond Attorneys to attend to the registration of the bond. The most important documents include the Title Deed and cancellation figures from the Bank, as well as a rates clearance certificate which serves as proof of payment for rates and taxes from the relevant municipality. ![]() The conveyancer, who is usually appointed by the seller, will ensure that all the documents needed for registering the property transfer are in order. It is always best to understand each stage of the process and how it relates to another.īelow is a summary of the registration process that will equip you with a working knowledge and understanding of what goes on behind the scenes when buying or selling a property. Although purchasing a property is an exciting time, it is often a prolonged process that is not fully understood by the people buying or selling the property.īeing aware of the overall property buying and registration process will help relieve a lot of unnecessary stress.
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