Steps

Receive instructions to attend to the transfer

Request the original title deed, original mortgage bond and the cancellation figures from the existing bond holder.

Request a statement from the local authority setting out the rates and taxes payable for a period of approximately three months in advance.

Obtain the relevant information from the Purchaser regarding the institution that granted the bond and obtain payment of the deposit in terms of the Agreement of Sale (if applicable).

Once the Purchaser’s bond has been granted, guarantees/undertakings are requested from the Attorneys who are attending to the registration of the bond and the transfer documents are drawn.

Call upon the Purchaser and the Seller to attend to the signing of the documents drafted.

Apply to the Receiver of Revenue for a transfer duty receipt/exemption.

Payment is made to the local authority of the rates and taxes.

Upon receipt of the guarantees/undertakings from the bond attorneys, the guarantees/undertakings which are required to cancel the existing bond are sent to the attorneys attending to the cancellation of the bond.

Once the transfer duty receipt/exemption and a clearance certificate have been obtained, arrangements are made with the Attorneys attending to the registration of the Purchaser’s bond and the attorneys attending to the cancellation of the existing bond to have all the documents lodged simultaneously in the Deeds Office.

After examination of the documents by the Deeds Office the transfer and the bond will be registered and the existing bond cancelled.

Upon registration of the transfer in the Deeds Office, the Purchaser becomes the registered owner of the property, the Bond Attorney pays the bond proceeds to the Transferring Attorney, the existing bond is settled, the Estate Agent receives his/her commission and the Seller receives payment of the balance of the proceeds from the sale.