![]() ![]() The transferring attorney will prepare the transfer documents to be signed by the seller and the purchaser. Transfer duty receipt or exemption certificate from SARS.Levy clearance figures from a body corporate or homeowner’s association.Rates clearance figures from a local municipality.Bond cancellation figures in respect of the seller’s existing bond over the property.There are various documents that are required during the transfer process depending on the nature of the transaction: The transferring attorney will liaise with the bond registration attorney to request guarantees for the purchase price and to arrange the simultaneous registration of the transfer and the mortgage bond. Once the purchaser’s loan application has been approved, a bond registration attorney will be appointed by the bank to register a mortgage bond over the property as security for the bank. If the purchase price or part thereof is to be secured through bank finance, the purchaser will apply for a loan from a bank. ![]() The purchase price can either be payable in cash or through bank finance or a combination of both. The Offer to Purchase will stipulate the manner of payment of the purchase price. The transfer process commences once an Offer to Purchase has been signed by both the buyer and the seller and presented to the transferring attorney. An Offer to Purchase becomes legally binding once accepted by the seller. It stipulates the terms and conditions for the sale and purchase of the property. This is a document signifying the buyer’s intention to purchase the seller’s property. The Property Transfer Processĭownload Info-graphic As PDF 1. Below is guideline of the processes to be followed in order to complete a successful transfer of a property. The property transfer process can be complicated to first time property buyers. ![]()
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