At Streicher-De Swardt we specialise in all aspects of commercial transactions and conveyancing. We provide legal advice and solutions concerning the property development of commercial, residential, and sectional titles. Our specialist conveyancers help developers set up all forms of agreements that fit their needs and meet all legal requirements involved. We offer affordable and expedient services for all property transfers and registrations.
How does conveyancing work?
You’ll need a qualified conveyancer when buying or selling any type of property. The transfer of a property can take up to three months and Conveyancers are usually appointed by the seller.
These are the steps involved in transferring a property:
The seller or the seller’s agent provides the conveyancer with instructions.
All parties involved in the transfer process communicate with the conveyancer, such as the seller, buyer, transfer and bond attorneys, municipality, bank and South African Revenue Service (SARS).
Information and documents such as the agreement of sale, deeds office search, existing deed and bond cancellation figures from the bank and guarantees are collected from the conveyancer.
Once all the information and documents have been collected, the conveyancer will draft the transfer documents and ask the seller and buyer to sign them.
Financial arrangements are made, which include requesting payment for the conveyancer’s interim account, requesting the bank guarantee, and collecting the purchase price or deposit.
A transfer duty receipt is obtained by the conveyancer from SARS which confirms that the tax related to the transfer of the property has been paid by the buyer.
A clearance certificate is obtained from the municipality, confirming that all amounts regarding the property have been paid for the last two years. The municipality also has to issue an occupancy certificate to obtain a SPLUMA certificate for submission to the Deeds Office.
The submission of the deed of transfer and other necessary documents for registration at the deeds office is prepared by the conveyancer.
Once the deed of transfer and other documents have been lodged the deeds office takes 7 – 10 working days to examine them. If the deeds office is satisfied that the requirements for the transfer of property have been met, the deed of the property is registered.
Once registered, the conveyancer makes the necessary calculations and payments regarding the sale including the estate agent’s commission and the purchase price. The conveyancer’s final account is drawn up and sent to the buyer and the seller. The conveyancer should continuously inform those involved about the progress of the transfer. The registered deed is given to the buyer if the property was paid for in cash, if not, it is given to the buyer’s bank if a bond was registered over the property.
The seller or the seller’s agent provides the conveyancer with instructions.
All parties involved in the transfer process communicate with the conveyancer, such as the seller, buyer, transfer and bond attorneys, municipality, bank and South African Revenue Service (SARS).
Information and documents such as the agreement of sale, deeds office search, existing deed and bond cancellation figures from the bank and guarantees are collected from the conveyancer.
Once all the information and documents have been collected, the conveyancer will draft the transfer documents and ask the seller and buyer to sign them.
Financial arrangements are made, which include requesting payment for the conveyancer’s interim account, requesting the bank guarantee, and collecting the purchase price or deposit.
A transfer duty receipt is obtained by the conveyancer from SARS which confirms that the tax related to the transfer of the property has been paid by the buyer.
A clearance certificate is obtained from the municipality, confirming that all amounts regarding the property have been paid for the last two years. The municipality also has to issue an occupancy certificate to obtain a SPLUMA certificate for submission to the Deeds Office.
The submission of the deed of transfer and other necessary documents for registration at the deeds office is prepared by the conveyancer.
Once the deed of transfer and other documents have been lodged the deeds office takes 7 – 10 working days to examine them. If the deeds office is satisfied that the requirements for the transfer of property have been met, the deed of the property is registered.
Once registered, the conveyancer makes the necessary calculations and payments regarding the sale including the estate agent’s commission and the purchase price. The conveyancer’s final account is drawn up and sent to the buyer and the seller. The conveyancer should continuously inform those involved about the progress of the transfer. The registered deed is given to the buyer if the property was paid for in cash, if not, it is given to the buyer’s bank if a bond was registered over the property.