1.   A typical Transfer takes approximately 3 (THREE) months. 

2.   We receive Instruction from the Seller to attend to the Transfer of the property being sold.

3.  We calculate days available for the Buyer to get a loan (bond) from the bank of his/her choice, as per Sale Agreement. The bank appoints the Bond Attorneys on their behalf.

If the Buyer does not get a bond within the stipulated time-frame, the contract is null and void. If the Seller still wishes to sell to the Buyer, we will add an addendum to the existing contract.

4.   We do a Deeds Search at the Deeds Office to ensure:

·         That the holding Deed of Transfer is in the correct owner’s name,

·         That the property description is correct, and

·         Whether there is a bond out on the property.

5.   If a portion of the sale is in cash, the Buyer transfers the cash into our Trust account. We invest it into an interest-bearing account, of which the interest is paid back to the Buyer after the Transfer has registered.

6.  We contact the Seller and Buyer, and request Necessary Information in the form of a document that is filled in by the relevant parties. This information is necessary for the drafting of the transfer documents. Kindly ensure that all the information supplied is correct and that all the requested documents are provided to us.

7.   We request Cancellation Figures from the bank where the Seller’s existing bond is being held. 

·     We need to cancel the bond, as the Seller will no longer be paying the bank back after the property is sold.

·    We receive Cancellation Figures from the bank and we find out whom the Bond Cancellation Attorneys are (appointed by the bank).

·    We receive a copy of the original Deed of Transfer from the Bond Cancellation Attorneys.*

8.   We request Clearance Figures from the Municipality under which the property falls.  This has to do with the Rates and Taxes of the property (not electricity and water).

·    The Municipality issues Clearance Figures of outstanding Rates and Taxes and calculates future figures for up to 4 (four) months ahead. 

·     Once we receive Clearance Figures, we send a letter to the Seller regarding the amount of the Clearance Figures to be paid into our Trust account. 

·      It is the Seller’s responsibility to pay us the full amount of the Clearance Figures shown.   

·    We pay the Municipality the amount of the Clearance Figures so that we can obtain a Clearance Certificate, which stipulates that all amounts outstanding have been settled. This is needed for Lodgement.

·   Once the property has been transferred, the Seller will be credited by the Municipality for the excess amount paid, if the property transfer takes less than 4 (four) months.

9.  It is the Buyer’s responsibility to change the electricity account into their name on Registration, and to pay the necessary deposit at the Municipality.  We can recommend Elise (012) 547 5787 who does Change of Electrical Ownership on your behalf for a small fee (for City of Tshwane only).

10. We request guarantees from the Bond Attorneys that are assigned by the bank where the Buyer has applied for a bond.  This is the amount of money available for the purchase of the property.

·         We receive the guarantee.

·         We send the guarantee to the Bond Cancellation Attorneys.

11. We draft the Transfer Documents

·    We then contact the Buyer and Seller to arrange for signature of the Transfer Documents.

·     We type out the new Draft Deed with the new particulars of the Buyer and Seller.

·     The Bond Attorneys will request a copy of the new Draft Deed for their bond.

12. SARS Transfer Duty

·     One of the Transfer Documents that you will sign is a SARS TD1 and TD2 form. This contains all the details regarding the taxation applicable to the property transaction. The Buyer will pay Transfer Duty to the Receiver of Revenue according to the property value. Transfer Duty is compulsory for purchase prices as well as property values above R600 000.00.   Transfer Duty is payable for the following property values:

·         Example:  Property value R800 000.00

·    We also provide the Buyer with a Pro-Forma Statement of Account, which contains the Transfer Duty (SARS) and our Transfer Fee (Transferring Attorney).

·   The Buyer will pay the Transfer Duty due to SARS into our Trust account immediately.

·     We will pay SARS the Transfer Duty as soon as we receive it.

·    We receive a Transfer Duty Receipt, one of the necessary documents needed for lodgement of the transfer at the Deeds Office.

·      Our Transfer Fee is payable on LODGEMENT.

13. We send a letter to the Seller reminding them about issue of the Electrical Compliance Certificate.

·   This must be obtained from a certified electrician, and is a declaration that the house’s electricity is in working and safe condition. 

14. We then Lodge your transfer in the Deeds Office, with all the necessary documents, and linking with simultaneous Attorneys (e.g. Bond Cancellation).

·     The Transfer gets examined by several examiners on several levels.

·     Once examined, the matter goes onto Preparation.

·     Finally the Transfer gets registered into the Buyer’s name. The registration process takes between 8 (eight) and 12 (twelve) working days.

15. Once the matter is Registered and the guarantees are paid out, we do our Finances.

·     We send all parties (i.e., Estate Agent, Municipality, Buyer and Seller) a letter of registration

·    We send the Seller and Buyer a Final Statement of Accounts (this reflects monies that have been paid to us, and what monies have been paid out).

·   If there are any monies outstanding (such as the interest from the Buyer’s investment), we will pay it out to the appropriate person.

16. The Deeds Office takes approximately 2 (two) to 3 (three) months to deliver the registered Deed of Transfer back to us.

·     If the Buyer has taken out a bond, we will send the registered Deed to the Bond Attorneys, who will forward it to the bank for safe-keeping.

·      If the Buyer has paid for the property in cash, we will deliver the Deed to him/her.

 * If the property is not bonded, we will request the Original Deed from the Seller.