What your conveyancer does
behind the scenes for you.
Buying or selling a property can be a stressful experience, but an efficient conveyancing solicitor who makes the process smooth and
effortless is worth their weight in gold. The following checklists will help you know what they are and should be doing. The legal work
need not be a secret from you:
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The transferring attorney will normally
receive the offer to purchase after the
seller has accepted the purchaser’s
offer. They will then peruse the offer to
purchase to familiarise themselves with
the content thereof and to ascertain
whether the agreement is subject
to certain suspensive conditions, i.e.
whether the purchaser will apply for a
bond to finance the purchase.
Once the suspensive conditions have
been fulfilled, the transferring attorney
will prepare the transfer documents
and arrange for the purchaser and
seller to sign same. They will also
apply to the relevant local authority
for rates clearance figures, apply to
the homeowners association (hoa) (if
applicable) for any amounts due to
the hoa, apply to the body corporate
(in the event of it being a sectional
title development) for levy figures and
apply to the existing bondholder for
the cancellation of the existing bond.
The local authority will furnish the
transferring attorney with the amount
outstanding at the time of the
application plus an advance portion
being an estimate for 4 months in
respect of rates and services. The
seller will then pay this amount to the
transferring attorney who will then pay
same to the local authority in order to
obtain a rates clearance certificate.
The transferring attorneys will apply to
the south african receiver of revenue
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Jacques vd Merwe
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(sars) for a transfer duty receipt and will
pay the amount of transfer duty levied
by sars to sars in order for them to issue
the transfer duty receipt. Transfer duty is
payable by the purchaser.
If there is a hoa, the amount requested
by them will be collected from the
purchaser and the sell