procedure, provided of course that the selected
attorney has conveyancing experience. The majority
of attorneys will be able to provide the service,
however not all will have vast amounts of experience
in the conveyancing field.
It is always advisable to use an attorney that handles
conveyancing on a daily basis as it is a complicated
series of tasks that requires in-depth knowledge
around the process.
As there is a recommended rate for the legal fees
charged for the transferring process which is based
on the value of the property and should be fairly
similar from one firm to the next, it makes sense to
rather find the best attorney for the job.
Extensive experience in this area of law for which
you require their services is a critical element,
however it is also important that the seller is
comfortable with their choice and trusts their
attorney. Working with a reputable, experienced
attorney will ensure that the process is as quick and
hassle free as possible.
On average the process can take around three
months, starting from the date of sale and ending with
the property being registered in the new owner’s name.
That said, there are a few external factors that could
postpone the process. These could include obtaining
clearance certificates or the fulfilment of a stipulated
condition in the contract. According to South
African law, a property can only be transferred once
all municipal charges and associated costs have been
paid in full to the relevant parties. Once this is done,
a rates clearance certificate will be issued by the local
council. The seller may be required to pay a few months
in advance to obtain the certificate, however any credit
on the account at the date of transfer will be refunded.
The transfer process is required to satisfy the
necessary criteria of several regulatory institutions
www.reimag.co.za
such as the Financial Intelligence Centre Act
(FICA), the Transfer Duty Act and the Value Added
Tax Act for the South African Revenue Service
(SARS) and the Municipal Property Rates Act.
Buyers can prepare for the property transfer by
getting the following documentation in order:
• A proof of address
(not older than three months);
• A certified copy of their identity document;
• Their income tax number;
• Declaration in respect of marital and
solvency status;
• Particulars concerning the identity of the
attorney transferring the purchasers
property if the purchaser is utilising the
proceeds to pay for his purchase; and
• Particulars of the bond granted.
These documents will be needed to meet the
FICA requirements.
Sellers can also assist in accelerating the
transfer process by having the following
documents in order:
• Declaration in respect of marital and
solvency status
• Particulars of bond holder (account number)
• Valid electrical wiring certificate
Valid electrical fencing compliance
certificates (if relevant)
• Valid gas compliance certificates (if relevant)
• VAT declaration (if applicable)
• Selecting the right attorney and having
all the necessary documentation at hand
before the start of the process will ensure
that everything progresses without
incident.
RESOURCES
Adrian Goslett, RE/MAX
Residential Handbook 2014
21