Deed from the Deeds Office .
2
Immediately issuing a letter of cancellation to the relevant financial institution .
3
Applying for a Rates Clearance Certificate immediately .
4
Establishing when both parties are available to sign the transfer documentation .
5
Requesting prompt payment by the purchaser of transfer duty and pro rata rates .
6
Liaising with all parties to the transaction , including the agent .
7
Correctly and accurately drafting the transfer documentation .
The seller can also accelerate the process by :
1
Selecting an experienced and competent conveyancer ( this is probably the most important factor ).
2
Providing the conveyancer with full FICA documentation on request .
3
Obtaining valid electrical , beetle , plumbing and gas certificates timeously .
4 5
Ensuring rates are paid up to date .
If there is no bond , having the original title deed of the property to hand .
6
If there is a bond , ensuring bond payments are not in arrears and the bank is given sufficient notice of cancellation to avoid penalties .
7
If the property is sectional title , obtaining a copy of the latest financial statements of the body corporate , including the budget . Details of any special levy imposed by the trustees and copies of the minutes of the Annual General Meeting (“ AGM ”) for the last few years should also be supplied , as well as copies of the management and conduct rules of the body corporate . Levies must be up to date . If the title deed of the property requires written consent of the body corporate or homeowners ’ association to the transfer ( which must be lodged with the transfer documentation ), getting this consent quickly will help the process .
8
Making the necessary plans to move out of the property on the day before transfer is registered , or on the agreed date .
The Purchaser can Play a Role by :
1
Signing all documentation , both transfer and bond documents ( if applicable ), on request .
2
Providing the conveyancer with full FICA documentation on request .
3
Applying for bond finance immediately on signature of the Offer to Purchase , or arranging a pre-approved bond before signing the Offer to Purchase .
4
Paying all costs along with the deposit and balance of the purchase price on request .
5
Synchronising occupation dates with the seller and conveyancers .
Seek Expert Advice
For expert advice on buying or selling a property , contact Simon Dippenaar and
Associates on 086 099 5146 or simon @ sdlaw . co . za .
SOURCE SDLAW
SA Real Estate Investor Magazine MAY 2021 25