Helpful hints to enable your transfer to be registered quickly. When the property is bought or sold by a Private Individual, Company, Close Corporation or Trust, ensure that the transferring attorney has the following documents.

Private Individual:

Copy of Identity Document, Marriage Certificate, Antenuptial Contract, Divorce Order, VAT registration number and/or Income tax registration number and proof of residential address. The Seller must also supply the following: Details of the existing Bondholder/s and Account Number; Valid electrical clearance certificate, proof of residential address, VAT registration number and/or income tax registration number.

Company:

Copy of memorandum of Articles of Association, Certificate of Incorporation, Certificate to Commence Business, copy of the directors Identity documents and VAT registration Certificate if applicable.

Trust:

Copy of Trust Deed, Copy of the Letters of Authority, a copy of the trustees Identity documents and a copy of the VAT registration Certificate, if applicable.

What Happens After The Agreement of Sale Has Been Signed?

Once the attorney has received a copy of the Agreement of Sale and a copy of the relevant documents mentioned herein, and once he has confirmation that the Purchaser's bond has been approved, he will take the following steps:

• If there is a bond over the Property, he will apply for title deeds of the property and request cancellation figures from the existing bond holder. The bondholder will then issue cancellation figures and forward the existing bond to their attorneys, instructing them to cancel the bond. The Seller is required to maintain his bond repayments until registration.
• The transfer documents will be drawn and arrangements made for signature by the parties. The Purchaser will be required to the Transfer Costs.
• Once the transfer costs have been paid, the attorney will pay the transfer duty to the SA Revenue Services and obtain a transfer duty receipt.
• The attorney will apply for a rates and levy clearance certificate (in the case of a sectional title unit). This is to ensure that the Seller's rates/levies are up to date prior to registration.
• As soon as the cancellation figures are received from the bondholder, the attorney will request guarantees from the new bond attorney.
• Once the guarantee has been received, it will be forwarded to the cancellation attorney, who will in turn apply for consent to cancellation of existing bond.
• The attorney now liaises with the bond cancellation attorneys to arrange lodgment in the Deeds Office.
• This process should take approximately six to eight weeks.
• Should the transfer depend on the sale of the Purchaser's property, the time taken for registration of the Seller's Property into the Purchaser's name may be delayed, but often the respective transferring attorneys are able to link the two transfers to save time.

What Happens After Registration?

• Guarantees are payable on date of registration. The balance of the amount that was paid will show approximately 24 hours after registration.
• The existing bond gets cancelled and the outstanding bond paid off. Credit due to the Seller after cancellation of the bond is paid by the bank within 10 – 14 days after registration
• The Conveyancer prepares the final statement of accounts for the Seller and Purchaser.
• The Seller/s final statement of account is debited with the cancellation costs of the existing bond and commission. The account will either be debited or credited (whichever the case may be) with the pro rates of levies as well as pro rata occupational rent, if applicable.
• The Purchaser is responsible for the rates/levies from date of registration and the Conveyancer calculates the pro rata portion due by the Purchaser from date of registration to the end of the month in which a clearance certificate has to be obtained.
• Any proceeds or credit due to either party should be paid no later than the day after registration.