Property Transfers

Step 1

Offer to purchase sent to property Transfer Attorneys

Deeds Office Search

Request Title Deed and bond cancellation figures if applicable

Apply for rates figures and levy figures

Step 2

Fulfilment of suspensive conditions

e.g. Bond approval, sale of purchaser’s property

Collect FICA documents from Seller and Purchaser

Draft transfer documents for signature

Apply for rates and levy clearance figures

Step 3

Apply for a property transfer duty receipt

Apply for rates clearance certificate and levy clearance certificate

Ensure satisfactory guarantees are in place for the purchase price

Step 4

Seller and Purchaser sign a property transfer documents

Purchaser pays property transfer costs

Seller pays rates and levies

Seller provides compliance certificates

Step 5

Obtain property transfer duty receipt

Obtain rates clearance certificate

Obtain levy clearance certificate

Step 6

Lodge the matter in the deeds office

Examination process seven to ten working days

Property Transfer is registered – ownership passes from seller to purchaser

Step 7

Final accounts drawn for the Seller and Purchaser

Seller paid out net proceeds (usually the next business day after receipt of funds)

Agents’ commission paid

Existing bonds cancelled

Step 8

Deeds Office to release original Title Deed and Mortgage Bond

Conveyancer will send original Title Deed to the relevant bank (if the property is bonded) or Purchaser (if un-bonded)

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