At Brookes Attorneys, we have extensive experience dealing with buyers, sellers, real estate agents and banks when it comes to transferring titles.
Commonly, conveyancers are appointed by the person selling the property, but we don’t just help you sell your house. We can help you understand the associated rights and responsibilities involved in conveyancing transactions, and we are able to offer extensive expertise to efficiently handle a variety of matters relating to property law.
We can help you with:
Make sure that all elements of a commercial property sale agreement are covered and catered for.
Do you understand the implications of a divorce action in relation to your immovable property? Let us make sure that the entire process goes smoothly.
Not wanting to get married but still want some security and protection in the event of a break-up?
We can draft your co-habitation agreements.
Should you wish to separate, we can help with the financial and other consequences to make the process as smooth as possible.
The deposit can be paid into the trust account of either the estate agency or the conveyancers where the money will be held pending the registration of transfer. The offer to purchase must state where the deposit must be paid and as well as the date the deposit is due.
The estate agent or the conveyancing attorney can arrange for the purchaser’s deposit to be invested in an interest-bearing account. Usually, unless agreed otherwise, the interest is paid to the purchaser after the registration has taken place.
A suspensive condition is an uncertain future event. The offer to purchase is thus subject to the happening of this uncertain future event. Should the purchaser fail to comply with the suspensive conditions pertaining to his/her specific offer within the allotted time frame, the offer to purchase becomes null and void and is of no effect. Common suspensive conditions are the bond condition and prior sale condition.
A guarantee is a document issued by a registered South African Bank that guarantees the payment of funds upon the happening of certain events. On registration of transfer of the property from the seller to the purchaser in the Deeds Registry, the conveyancer will notify the issuer of that guarantee of the registration. The guarantee become payable and funds are paid in terms of that guarantee into the nominated trust account.
The seller usually appoints a conveyancer to attend to the transfer although this, like other aspects of a sale agreement, can be negotiated between the parties. Regardless of which party appoints the conveyancer, the conveyancer owes a duty of care to both parties and must represent both parties fairly.
The amount payable will be determined by the value of the bond and by the tariffs applicable to attorneys. An initiation fee might also be payable depending on the bank.
The amount varies according to the purchase price of the property and is based on a tariff recommended by the Legal Practice Council.
The conveyancer will call for payment from the purchaser a few weeks after the offer to purchase has been signed.
Transfer Duty is a tax levied by SARS on the value of any property acquired by any person by way of a transaction or in any other way. At present, no transfer duty is payable on property acquired up to R1 000 000. Transfer Duty is payable by the purchaser.
A few weeks after the sale agreement is signed. Usually your conveyancer will wait until the bond is granted and he has received the cancellation figures for the seller’s existing bond.
Yes, however there are certain formalities that must be complied with. Documents can either be signed before a Notary Public or at the South African Embassy in that country. If a seller or purchaser is in South Africa at the time of the transaction but returning overseas shortly thereafter, it is advisable to sign a special or general power of attorney in favour of a local friend or family member who will then be able to act on their behalf.
Occupational rent becomes relevant when a buyer moves into the property before transfer and registration has taken place, or a seller remains in occupation of the property for a period after that point. It is paid to the conveyancer, estate agent or seller/purchaser directly.
If an original title deed is destroyed or lost, an application is made to the Deeds Registry for a duplicate original of the deed. The application is accompanied by an affidavit stating that the deed has been lost or destroyed despite a diligent search. The Registrar will then issue a certified copy of the title deed which will be treated as if it were the original.
There are five certificates that are usually required: electrical, beetle/pest, gas, water/plumbing and electric fence. The seller must pay for the inspections and any repairs required for the issuing of these certificates.
The Deeds Office is where all records of all title deeds are kept. There is a Deeds Office in each province of South Africa. All documents are lodged simultaneously in the Deeds Office by arrangement with the attorneys concerned. The Deeds Office examiners scrutinise the documents to ensure that they comply with all relevant legislation and regulations. The Deeds Office process usually takes about 8 – 10 days.
After all the documentation has been signed and the costs paid, the transfer, new bond and bond cancellation documents are prepared by the respective attorneys for lodgement in the Deeds Office. This means that the documents are handed in to the Deeds Office.