Just Legal
How to prevent
delays
Six steps to prevent delays in transferring property
C
onveyancers, the Deeds Office or the
municipality are often blamed for the delays
in transferring properties. This criticism is well
founded, however, delays can often be prevented if
sellers take certain steps before selling their property.
Sellers must check that these steps have been
taken and prepare themselves accordingly before
they become an issue. The idea that they can
somehow be sorted as the sale progresses is
invariably wrong – going ahead without observing
these essential issues can delay and jeopardise the
sale agreement.
1. Ensure all rates are paid. The municipality will
not issue a rates clearance certificate until all
outstanding rates and services have been paid,
together with the payment of advance rates
and services. A property cannot be transferred
without a valid rates clearance certificate. If the
seller is in arrears with their rates or cannot
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Issue 7 2015
afford payment of the required advance amount;
then they will either have to obtain bridging
finance or a short-term loan.
2. If the seller has no bond, ensure that he or
she has the property’s original title deeds.
(If there is a bond the original will be lodged
with the bank). Title deeds, however, have the
tendency to disappear. When they are lost the
conveyancer will need to apply for a copy at
the Deeds Office, which costs money and takes
time. Therefore, be sure as sellers, to take note
of the whereabouts of your original Title Deed.
If you cannot find it, immediately instruct a
conveyancer to apply for a registration copy at
the Deeds Office to avoid potential delays.
3. Ensure all outstanding bond payments are paid
up in full. Give the bank sufficient notice when
you intend to sell and to cancel the bond. If
this is not done, the bank is entitled to charge
a penalty fee for early termination of the bond.
Just Property Magazine