021 671 9322

The sale and purchase of a property need not be a daunting experience with Curran Attorneys on your team.

All contracts to buy property must be in writing and signed by both the purchaser and seller to be valid and binding.

Property may also be acquired by means of buying shares in a Company or the member’s interest in a Close Corporation provided these entities are the registered owners of property.  Formal registration in this regard does not take place in the Deeds Office rather changes are made to the Company documentation and registered with the Companies and Intellectual Property Commission (CIPC).

The transfer of property sold by an individual, Trust or Company/Close Corporation takes place in the Deeds Office when the transfer is registered, and it takes approximately 6 – 8 weeks from the date of signing the Offer to Purchase.

Below is an overview of the steps involved when a property is sold:

  1. Signed Offer to Purchase is sent to the appointed transferring attorney (“conveyancer”). The conveyancer, purchaser and seller work together as a team throughout the process to ensure that the transfer is registered as efficiently and speedily as possible. It’s always the seller’s choice who they wish to appoint as the conveyancer.


  1. The conveyancer contacts the seller and purchaser and requests FICA documentation (ID and proof of address) as well as payment of the deposit, if applicable.


  1. As soon as all suspensive conditions in the Offer to Purchase are met, the conveyancer will meet with the purchaser and seller to sign the transfer documents. If the Offer to Purchase is subject to a condition which is not fulfilled, i.e. a mortgage bond not approved as stipulated in the agreement, then the offer will automatically lapse.


  1. If the purchaser has obtained a bond, the conveyancer will contact the purchaser’s bond attorneys (which attorneys are appointed by the bank) and exchange necessary information for the simultaneous lodgment of the bond with the transfer.


  1. If the property is currently bonded, the conveyancer will request bond cancellation figures form the seller’s bank.


  1. A rates clearance certificate from the Local Authority is required and the conveyancer will request the clearance figures (figures include any arrears and two months rates payable in advance). Once the seller pays the rates figures, the conveyancer will request the rates clearance certificate from the Local Authority.


  1. Transfer duty is payable by the purchaser to SARS. The conveyancer will request payment and once payment is submitted, the conveyancer will request the transfer duty receipt from SARS. Certain transactions are exempt from transfer duty.


  1. Compliance certificates are required prior to date of lodgment and remains the responsibility of the seller. Examples of compliance certificates include electrical, plumbing, beetle, gas and electric fence compliance certificates.


  1. The conveyancer co-ordinates lodgment with the bond attorneys and bond cancellation attorneys. Once the transfer is lodged in the Deeds Office, registration usually takes between 7-12 working days.


  1. Upon date of registration, the purchaser formally becomes the owner of the property.


For assistance with all your property related queries, contact our property law specialist, Ashley Curran on (021) 671 9322 or ashley@curranattorneys.co.za.