Property Transfer Steps

A legally binding Offer to Purchase (Deed of Sale) must be drafted outlining the purchase price, conditions of sale (like subject to bond approval), and the date of occupation.

Both parties agree to the terms and sign the Offer to Purchase. The buyer pays the initial deposit (if applicable) into the estate agent's or conveyancer's secure trust account.

The seller officially nominates a transferring attorney (conveyancer) to handle the process. The attorney receives the OTP and requests FICA documents from both parties.

If buying with a mortgage, the buyer applies for a bond. Once approved, the buyer's bank appoints a bond attorney who issues guarantees to the transferring attorney.

The seller must arrange and pay for necessary compliance certificates (Electrical, Plumbing/Water, Gas, Electric Fence, and Beetle) before transfer can happen.

Both parties sign the transfer documents at the attorney's office. The buyer must now pay the transfer costs, attorney fees, and SARS Transfer Duty.

The attorney pays the transfer duty to SARS to get a receipt. They also apply to the local municipality for a Rates Clearance Certificate (seller must pay advance rates).

Once all documents, guarantees, and certificates are gathered, the transferring, bond, and cancellation attorneys link their files and lodge them at the local Deeds Office.

The Deeds Office examines the documents (takes 7-14 days). Once approved, the property is registered in the buyer's name. Guarantees are paid out, the seller gets their money, and the buyer gets the keys!