From signed offer to registered title.
A modernised version of the transfer process currently published by Kagiso Mokgosi Attorneys. Timing varies by matter, bank, municipality and Deeds Office workload.
Seller and purchaser sign the agreement that forms the basis of the transaction.
Where finance is required, bond approval is often a suspensive condition.
The transferring attorney receives the sale agreement once the finance milestone is met.
Where a bond exists, title-deed and cancellation figures are requested.
The seller’s bank appoints bond-cancellation attorneys and provides requirements.
The transferring attorney requests the municipal rates clearance certificate.
Seller and purchaser sign transfer documents and provide required FICA material.
The purchaser settles transfer costs and the required rates/tax share.
Relevant electrical, electric-fence or gas certificates are dealt with where applicable.
Transfer, bond and cancellation documents are coordinated for Deeds Office lodgement.
The deeds are examined before they can be put forward for registration.
On registration, financial settlement and bond cancellation steps are completed.
The registered title deed is later delivered to the bank, or purchaser where there is no bond.