Real Estate Investor Magazine South Africa November 2014 | Page 27

RESIDENTIAL

We have recently encountered this and were unable
to receive a deposit timeously due to no information
sheet provided. Do not underestimate this important
requirement which could delay a transfer!

OTHER POTENTIAL DELAYS
1. The tax affairs of either the seller or the purchaser are not
in order.
2. A selling company/cc or purchasing company/cc “not
being in business”. This happens when the Registrar of
Companies deregisters a company for not submitting
returns. In this case, the accountants must render returns to
put the company/cc “back in business”, which could cause
considerable delays.

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3. A self-employed person does not have audited financials or
the books of account for the business are not properly kept.
This can delay the granting of a bond, and thus the entire
process.
4. A seller who has lost his title deed can put a three-week
delay on a matter if the title deed, which he believed he
had, is found to be lost.
5. A seller who fails to pay the rates and taxes on time or to
provide the conveyancer with critical information that has
been requested.

Neale Petersen

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