Conveyancing / Property Transfers
I finally learnt how to transfer a property and have a happy client.
So, what is
this exactly?
I’ve seen many people frustrated by property transfers and property transfer attorneys. I decided to change that. Change the way it is done. Change the way we do it. And now, our clients love this way.
Offer & Cost
What you get when you choose us:
- Weekly updates
- Efficient communication
- Live link to keep tabs on your transfer, and us on our toes
- Video updates to explain the process
- Full access to all our bonus material with tips, tricks and ideas.
- We’ll even throw in one week’s access to any course of your choice.
Price
You wouldn’t believe it, but our Council prescribes what we should charge – under duress, we’ll stick to that. 🙂
Head over to our cost calculator to see what the probable costs will be.
Remember:
- Seller – you get all of this for free, and you get to make the final decision to choose us.
- Buyer – this one’s for your pocket.
Frequently Asked Questions
So, when you’re buying or selling a property, the transfer process involves a few key steps. First, you’ll need to find a conveyancer – that’s a legal expert who will handle the transfer process on your behalf.
- Offer to purchase: The buyer makes an offer to purchase the property, which the seller can either accept, reject, or make a counter-offer.
- Sale agreement: Once the offer is accepted, it becomes the sale agreement / deed of sale.
- Transfer documents: The conveyancer prepares the transfer documents, including the Power of Attorney, transfer duty receipt, rates clearance certificate, and other necessary paperwork.
- Bond registration: If the buyer is taking out a bond, the bond registration process will begin, and the conveyancer will liaise with the bond attorneys to ensure that the bond is registered on time.
- Bond cancellation: If the seller has a bond, the bond cancellation process will begin, and the conveyancer will liaise with the bond attorneys to ensure that the bond is cancelled on time
- Payment of transfer costs: The buyer pays the transfer costs and bond registration costs, which are usually handled by the conveyancer.
- Transfer of ownership: Once all the paperwork is in order and the transfer costs have been paid, the conveyancer will lodge the transfer documents at the Deeds Office. The Deeds Office will examine the documents and, if everything is in order, transfer ownership from the seller to the buyer.
- Registration: The transfer is registered at the Deeds Office, and the buyer becomes the new registered owner of the property.
That’s a simplified overview of the property transfer process in South Africa, but keep in mind that there may be additional steps and requirements depending on the specific circumstances of the transaction.
When buying a property in south africa, you may be required to pay transfer duty to the south african revenue service (sars). Transfer duty is a tax that is calculated based on the value of the property and is payable by the purchaser.
The transfer duty is calculated according to a sliding scale and is only payable on properties with a value over a certain threshold. As of 2023, no transfer duty is payable on properties valued at R1.1 million or less. The transfer duty rate increases as the property value increases.
It’s important to note that transfer duty is separate from other costs involved in the property transfer process, such as attorney fees, bond costs, and registration fees.
The purchaser is typically responsible for paying the transfer duty, although this can be negotiated as part of the sale agreement. Your conveyancer or attorney can provide more information on the transfer duty and assist with calculating the amount payable.
Alright, I know what you’re really wondering – how long is this whole shebang going to take? Well, the answer is: it depends!
The property transfer process can take anywhere from a few weeks to a few months, depending on a bunch of different factors. Some of the things that can affect how long it takes include the complexity of the transfer, the workload of the Deeds Office, and any hiccups that might arise along the way.
That said, your conveyancer should be able to give you a rough estimate of how long the process is likely to take, based on their experience and the specifics of your transfer. And of course, they’ll keep you in the loop throughout the process and let you know if there are any delays or issues that pop up
My experience is that if all goes well it takes +- 3 months from the signature of the sale agreement.
When a property is sold, there may be a period of time between the transfer of ownership and the purchaser taking occupation of the property. During this period, the purchaser may occupy the property and pay a fee known as occupational rent to the seller.
Occupational rent is a daily fee that is paid by the purchaser for the use of the property before the transfer of ownership is completed. The amount of occupational rent is typically negotiated between the parties and can be included in the sale agreement.
The liability for paying occupational rent is typically negotiated between the parties and can be included in the sale agreement. Generally, the purchaser is liable to pay occupational rent from the date of occupation until the date of transfer of ownership.
It’s important to note that occupational rent is separate from other costs involved in the property transfer process, such as transfer duty, attorney fees, bond costs, and registration fees.
Wait, why do we need more than one attorney for this? Good question!
So, when you’re transferring property, there are actually a few different attorneys involved. First, there’s the transferring attorney – that’s the legal eagle who’s representing the seller in the transfer. Then, there’s the bond attorney, who’s handling the registration of the buyer’s bond. And finally, there’s the cancellation attorney, who’s dealing with the cancellation of any existing bond on the property, if applicable.
Why all the different attorneys? Well, it’s mostly because each of these tasks requires a different set of legal skills and expertise. Plus, it helps to ensure that everything is handled correctly and there’s no funny business going on.
But don’t worry, your conveyancer will coordinate all the different attorneys and make sure everything runs smoothly.
If you have lost your title deed, there are steps you can take to obtain a replacement copy:
Contact us and we will gladly assist you.
It’s important to note that obtaining a replacement copy of a title deed can take some time, so it’s advisable to take steps to safeguard your title deed once you have received it.
Okay, so you’re probably wondering how much all of this is going to cost you, right? Well, the transfer costs are calculated based on a few different factors.
First, there’s the transfer duty – that’s a tax levied by the government on property transfers. The amount of transfer duty you’ll need to pay depends on the purchase price of the property, and there are different rates for different price brackets.
Then, there are the conveyancing fees – that’s the cost of the conveyancer’s services. Our council provides us with proposed fees dependent on the purchase price / value of the property.
Finally, there are a bunch of other smaller costs to take into account, like Deeds Office fees, rates and taxes, and so on.
Click here to use our calculator to calculate your probable costs.
- Electrical certificate of compliance: this certificate confirms that the electrical installations on the property are safe and comply with the regulations. The seller is required to provide a valid ecoc to the buyer on transfer.
- Beetle certificate: if the property is in an area where wood-boring beetles are prevalent, a beetle certificate may be required. The seller is responsible for obtaining this certificate.
- Plumbing certificate: this certificate confirms that the plumbing installations on the property are in good working order and comply with the regulations. The seller is responsible for obtaining this certificate.
- Gas certificate of compliance: this certificate confirms that the gas installations on the property are safe and comply with the regulations. The seller is responsible for obtaining this certificate.
It’s important to note that compliance certificates are legal requirements and failure to provide them can lead to delays in the transfer process or even legal disputes. Therefore, it is essential to ensure that all compliance certificates are obtained and provided to the buyer.
Okay, so you’ve sold your property and you’re due a refund from the municipality – but how long is that going to take?
Well, unfortunately, there’s no one-size-fits-all answer to this question. The amount of time it takes for the municipality to process your refund can vary depending on a bunch of different factors, like how busy they are and how complicated your refund request is.
When a matter is lodged in the deeds office, it means that the transfer process of a property has officially started, and the necessary documents have been submitted to the deeds office for processing.
The deeds office is a government office responsible for the registration of property transactions and the maintenance of records related to property ownership. Once the documents are lodged with the deeds office, they are examined to ensure that they comply with legal requirements and that all necessary documents have been submitted.
The process of examining and registering the documents can take some time, depending on the complexity of the transaction, the workload of the deeds office, and other factors. Once the transfer process is complete, the property will be registered in the new owner’s name, and the title deed will be issued.
It’s important to note that while the matter is lodged in the deeds office, the property is not officially transferred, and the seller still owns the property. The transfer of ownership only takes place once the registration process is complete, and the title deed has been issued in the buyer’s name.
Alright, you’ve sold your property, the transfer is done, and now you’re probably wondering when you’re going to get paid. So, how long after registration can you expect to see the cash in your bank account?
Well, typically, the payment will be made on the same day as registration – so as soon as the transfer is complete, the money should be on its way to you. However, there are a few things that can affect this timeline. For example, if there are any delays in the registration process, that could push back the payment as well.
And of course, we’ll make sure that everything is processed as quickly and smoothly as possible, so you can get your hands on that cash ASAP!
When you cancel a bond on your property, the bank may charge you penalty interest, which is a fee for ending the loan agreement earlier than the agreed-upon terms. The penalty interest is calculated based on the outstanding balance of the loan and the number of months left until the end of the loan term.
The purpose of penalty interest is to compensate the bank for the loss of income that would have been earned if the loan had continued for the full term. The amount of penalty interest charged may vary depending on the terms of your loan agreement and the policies of the bank.
It’s important to note that penalty interest is not the same as early termination fees or cancellation fees, which may also be charged by the bank when you cancel your bond. Penalty interest is specifically related to the interest charges on your loan and is separate from any other fees or charges that may apply.
This can be totally prevented by giving the bank 90 days’ notice of the cancellation.
So, you know that there are transfer costs involved in the property transfer process, but when do you actually have to pay them?
Well, typically, the transfer costs will need to be paid before the transfer can be registered at the Deeds Office. This is because the Deeds Office won’t process the transfer until all the costs have been paid in full.
Part of the transfer costs is the transfer duty (tax to SARS). We will need this portion as soon as possible so that we can apply for the transfer duty receipt.
If you have sold your property, you may be wondering whether you still need to pay rates, your bond and taxes. Here are some key points to consider:
- Rates: as the owner of the property on the date of valuation, you are liable for paying municipal rates up to the date of registration of the transfer of the property to the buyer. After registration, the new owner will be responsible for paying the rates.
- Bond: you will need to continue paying your bond until the registration of the transfer of the property to the buyer.
- Taxes: as the seller, you may be liable to pay capital gains tax on any profit made from the sale of the property. This will depend on a number of factors such as the selling price, the original purchase price, and any expenses incurred during the ownership of the property. It’s important to consult with a tax professional for guidance on your specific situation.
In summary, until the transfer of the property has been registered in the deeds office, you will need to continue paying rates and your bond. You may also be liable for capital gains tax on the sale of the property. Once the transfer is registered, the buyer will take over responsibility for paying rates and the bond.”
Alright, so you’re overseas and you’re wondering if you can sign the transfer documents from there.
Well, the short answer is yes, it’s possible – but there are a few things to keep in mind.
- You’ll need to make sure that the documents are signed in the presence of a notary public or a South African embassy official. This is to ensure that the signature is valid and legally binding.
- You’ll need to make arrangements to have the signed documents sent back to South Africa in a timely and secure manner. Your conveyancer should be able to advise you on the best way to do this.
Overall, while it’s possible to sign transfer documents overseas, it can add an extra layer of complexity to the process. It’s always a good idea to work closely with your conveyancer to ensure that everything is done correctly and efficiently.
Yes, it is possible for someone to sign a deed of sale in a representative capacity on behalf of another person or entity. This is commonly referred to as signing as an agent or a representative. However, it is important to ensure that the agent has the necessary legal authority to act on behalf of the principal. The authority can be granted by way of a power of attorney, resolution or any other legal document that authorises the agent to act on behalf of the principal. It is recommended that parties seek legal advice before signing any documents as a representative.
You’ve completed all the necessary paperwork and paid the transfer costs – now you’re probably wondering how long it’s going to take for the registration process to be completed at the Registrar of Deeds.
Well, the length of time it takes can vary depending on a number of factors, such as the complexity of the transfer and the workload at the Registrar’s office.
However, in general, you can expect the registration process to take between 8 – 10 working days to complete. That said, it’s important to note that this is just an estimate, and there can be delays that could extend the process.
Conveyancing fees are paid to a conveyancer for the legal services provided in the transfer of ownership of a property. Here is a breakdown of what you are paying for:
- Legal expertise: conveyancers are legal experts in property transfers and have specialised knowledge of property law, including the transfer process and the laws and regulations governing it.
- Administrative costs: conveyancers incur expenses during the transfer process, including the cost of obtaining and preparing documents, obtaining clearance certificates, and paying fees to the deeds office.
- Professional indemnity insurance: conveyancers are required to carry professional indemnity insurance to protect clients against errors or omissions that may occur during the transfer process.
- Disbursements: conveyancers may charge for additional expenses incurred during the transfer process, such as courier fees, postage, and telecommunication charges.
Overall, conveyancing fees cover the legal work, expenses, and risk management involved in the transfer process, ensuring a smooth and legally compliant transfer of ownership of the property.
If there is a bond registered over the property, it goes to the bank. They keep it as security.
If no bond is registered, we will keep it safe for you if you choose not to collect it from our office.
A conveyancer is responsible for managing the legal aspects of a property transfer. Some of the key tasks that a conveyancer should perform include:
- Conducting a title deed search to ensure that the property is free from any legal encumbrances or disputes.
- Drafting the necessary sale agreements and other legal documents required for the transfer process.
- Facilitating the payment of transfer duties and other costs associated with the property transfer.
- Registering the transfer of the property with the relevant deeds office.
- Providing guidance and advice to clients throughout the transfer process.
- Ensuring that all legal requirements are met and that the transfer is conducted in compliance with all relevant laws and regulations.
Ultimately, the conveyancer’s job is to ensure that the transfer of the property is completed smoothly and legally, and that their client’s interests are protected throughout the process.
You are looking to buy or sell a property and you’ve come across the term ‘deed of sale’. What exactly is it?
Well, a deed of sale is a legal document that outlines the terms and conditions of a property sale. It’s essentially a contract between the buyer and seller that sets out things like the purchase price, payment terms, and any conditions that need to be met before the sale can go through.
The deed of sale is typically prepared by the conveyancer handling the transfer process, and it’s signed by both the buyer and seller before the transfer can take place.
It’s important to review the deed of sale carefully before signing it, as it’s a legally binding document. Your conveyancer can help you understand any legal jargon or complicated terms and ensure that you’re comfortable with all the terms before you sign.
Overall, the deed of sale is an important part of the property transfer process and serves as a key document in the transaction.
Before making the decision to buy a property, it is important to take certain steps to ensure that the transaction runs smoothly and that you are making an informed decision. Here are some key things you should do before purchasing a property:
- Get pre-approval for a home loan: this will give you an idea of how much you can afford to spend on a property.
- Research the area: find out about the neighbourhood, the schools, the crime rate, and the proximity to amenities like shops and public transport.
- Check the property: conduct a thorough inspection of the property to identify any issues that may affect its value or your ability to live in it comfortably.
- Review the sale agreement: read through the sale agreement carefully to make sure you understand all the terms and conditions.
- Work with a reputable conveyancer: a conveyancer will guide you through the process and ensure that all the necessary legal requirements are met.
By taking these steps, you can avoid potential pitfalls and ensure that your property purchase is a positive experience.
You need a copy of your title deed. How can you get one?
Well, you can contact us, and we can usually get a copy online from the deeds office.
Sometimes it is not available, then we will have to apply for one directly from the deeds office. This could take some time.
When buying or selling a property, it is not a legal requirement to use an estate agent. However, using an estate agent can provide several benefits, such as access to a wider range of properties for buyers and exposure to a larger pool of potential buyers for sellers. Additionally, estate agents can assist with negotiating deals and handling the paperwork and legalities of the transaction. It is important to note that estate agents typically charge a commission fee for their services, which is usually a percentage of the sale price of the property.
Are you wondering who to pay the deposit to. That’s an important question!
Typically, when you’re buying a property, you’ll be required to pay a deposit as part of the transaction. This deposit is usually paid into an attorney’s trust account, which is managed by a conveyancer who is responsible for handling the property transfer process.
The deposit serves as a form of security for the seller, and it’s usually held in trust until the sale is finalised. Once the transaction is complete, the deposit is used to offset the purchase price of the property.
It’s important to ensure that you’re paying the deposit to the correct account, as fraudulent activity can occur in the property market. Make sure to verify the bank details with your conveyancer and never make a payment to an account that you haven’t verified.
If you’re unsure about any aspect of the deposit payment process, don’t hesitate to ask your conveyancer for clarification. They’re there to help ensure that the transaction proceeds smoothly and that your interests are protected.
- The full and correct details of the buyer and seller, including names, id or company registration numbers, and contact information.
- A detailed description of the property being sold, including the size, location, and any special features or conditions.
- The purchase price of the property, the deposit amount, and any payment terms or deadlines.
- Any contingencies or conditions that must be met before the sale can be completed, such as the buyer obtaining financing or the seller completing repairs.
- A timeline for the sale process, including key dates such as the transfer of ownership and the handover of keys.
- Any warranties or guarantees that either party is making regarding the property, such as a guarantee that all appliances are in working order.
- Any additional terms or conditions that the parties agree to, such as the inclusion or exclusion of certain fixtures or appliances.
Note: it is highly recommended to have a qualified attorney or conveyancer review and draft the sale agreement to ensure that it complies with all legal requirements and protects the interests of both the buyer and seller.
Conveyancing is the legal process of transferring ownership of property from one person or entity to another. It involves several steps, including verifying the title of the property, preparing and reviewing legal documents, and registering the transfer of ownership with the relevant government agency.
The conveyancing process is typically carried out by a conveyancer or conveyancing attorney who specialises in property law. They will work with the buyer, seller, and any relevant financial institutions or government agencies to ensure that the transfer of ownership is legally valid and meets all relevant requirements.
The conveyancing process can be complex and time-consuming, and it is essential to ensure that all legal requirements are met to avoid any potential disputes or issues in the future. It is recommended to work with an experienced conveyancer or conveyancing attorney to ensure that the process is carried out efficiently and effectively.
- When purchasing a property, there are various costs involved that need to be taken into consideration, such as transfer duty, bond registration costs, and conveyancer fees.
- Transfer duty is tax paid to the government for the transfer of the property into the buyer’s name and are typically calculated based on the purchase price of the property. Bond registration costs are fees paid to register a mortgage bond over the property, which is typically paid by the buyer if they’re obtaining a bond to finance the purchase. Conveyancer fees are costs associated with the services provided by the conveyancer, such as drafting and reviewing legal documents.
- Generally, the buyer is liable to pay for all of these costs, although some costs may be negotiable as part of the sale agreement. It’s important to factor these costs into your budget when planning to purchase a property, as they can add up quickly and may have an impact on your affordability.
I hope that helps! Let me know if you have any further questions.
Suspensive conditions are conditions in a sale agreement that must be met before the sale can be finalised. The suspensive condition will state that the agreement is conditional upon the occurrence of a certain event. If the event does not occur, the sale will not proceed.
Some common examples of suspensive conditions in a property sale agreement include:
- The buyer securing financing: this is a condition that the buyer must meet before the sale can proceed. If the buyer is unable to obtain financing, the sale will not proceed.
- The sale of the buyer’s current property: if the buyer needs to sell their current property in order to finance the purchase of the new property, the sale agreement may include a condition that the buyer’s sale of their current property must occur before the purchase can proceed.
- The approval of building plans: if the buyer intends to renovate or extend the property, the sale agreement may include a condition that the buyer’s building plans must be approved by the relevant authorities before the sale can proceed.
It is important to ensure that suspensive conditions are clearly stated in the sale agreement and that they are reasonable and achievable. Failure to meet a suspensive condition can result in the sale falling through.
A conveyancer is a professional who specialises in the legal process of transferring ownership of property from one person or entity to another. They play a crucial role in the conveyancing process, which involves several steps, including verifying the title of the property, preparing and reviewing legal documents, and registering the transfer of ownership with the relevant government agency.
Conveyancers are attorneys who have specialised training and experience in property law. They work closely with buyers, sellers, and any relevant financial institutions or government agencies to ensure that the transfer of ownership is legally valid and meets all relevant requirements.
The role of a conveyancer is to ensure that the conveyancing process is carried out efficiently and effectively, while protecting the interests of their clients. They provide expert advice and guidance on legal matters related to the transfer of property ownership, and work to ensure that all legal requirements are met to avoid any potential disputes or issues in the future.
All conveyancers are attorneys, but not all attorneys are conveyancers.
When selling a property, there are costs involved that need to be taken into consideration. Here’s a breakdown of some of the costs that may be incurred:
- Estate agent commission: if you use an estate agent to sell your property, they will typically charge a commission on the sale price of the property. The commission percentage may vary and can be negotiated with the estate agent.
- Cancellation costs: if you have an existing bond on the property that needs to be cancelled, there may be costs involved, such as an early cancellation penalty fee.
- Clearance certificates: before the property can be sold, certain clearance certificates need to be obtained, such as an electrical compliance certificate and a beetle certificate. The seller is responsible for obtaining these certificates.
- Conveyancer fees: the conveyancer handles the transfer process and may charge a fee for their services. The seller is typically responsible for paying these fees.
The costs involved in selling a property can vary depending on the circumstances, and it’s important to factor these costs into your planning when deciding to sell. Your estate agent and conveyancer can provide more detailed information and guidance on the costs involved in selling your specific property.”
In general, the seller is responsible for paying most of these costs involved in selling a property, such as estate agent commission, cancellation costs, and conveyancer fees. However, some costs, such as clearance certificates, may be negotiable as part of the sale agreement.
Compliance certificates are documents that verify that a property meets certain legal and safety requirements. These certificates are often required in property transactions to protect the buyer and ensure that the property is in a good condition. Here are some key points to know:
- Compliance certificates can be obtained for a range of areas such as electrical installations, plumbing, gas, beetle, and electrical fences.
- It is the seller’s responsibility to provide these certificates, but the buyer can request them to ensure the property meets legal requirements.
- Compliance certificates are usually valid for a specific period and must be kept up to date to avoid delays in the property transaction.
- Failure to provide a valid compliance certificate can lead to legal problems and financial liabilities, which is why it is crucial to obtain them before completing the property transaction.
It is pretty much agreed that the Seller has the power to select the conveyancer. Of course, the buyer or your estate agent might recommend a conveyancer to you, but ultimately, it’s your call.
When taking out a bond to finance the purchase of a property, there are costs involved that need to be taken into consideration. Here’s a breakdown of some of the bond costs that may be incurred:
- Initiation fee: this is a once-off fee charged by the bank to initiate the bond. The fee is calculated as a percentage of the bond amount and can vary between different banks.
- Administration fee: the bank may charge an administration fee for setting up the bond account and managing it. This fee can be a once-off or monthly fee.
- Bond registration costs: when registering the bond with the deeds office, there are registration fees and transfer duties that need to be paid. These fees are typically paid by the purchaser but can be negotiated as part of the sale agreement.
The total bond costs can vary depending on the bond amount and the bank’s fee structure. It’s important to factor these costs into your planning when considering taking out a bond. Your bank can provide more detailed information and guidance on the bond costs involved.
In general, the purchaser is liable to pay most of the bond costs, including the initiation fee, administration fee, and bond registration costs. However, some costs, such as the bond registration costs, may be negotiable as part of the sale agreement.
Contact me today to start your property transfer
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