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Imagine that you are building a house. The foundation should be laid, and certain parts are built simultaneously to complete the process. One cannot be done without the other, and every building block fits perfectly into one another.

Many parties are involved in a transfer process, and each one has an essential role in creating the bigger picture.

The transfer attorney, usually appointed by the seller, acknowledges receipt of the instruction to all parties involved, the seller, purchaser, and estate agent, if one was used.

The attorney mentions any suspensive conditions listed in the contract, such as the date of when the purchaser shall confirm whether they have obtained a bond, should the sale be subject to the purchaser obtaining a bond.

Once the purchaser’s bond has been approved by the financial institution and the attorney is informed of this, the attorney shall request all supporting documents to proceed with the transaction.

A deeds office search is done to verify the property details sold/purchased.

Suppose he has an existing mortgage bond over the property. In that case, the seller’s financial institution will be contacted to advise that the property is being sold.

The transferring attorney continues to gather all required figures, such as rates clearance figures and certificates issued by the municipality, and the clearance figures from the body corporate or homeowners association, should the property be a sectional title or in an estate.

Bond cancellation figures are requested from the holder, being the financial institution.

A title deed is requested from the bondholder. The seller must be informed to obtain the electrical compliance certificate and beetle & plumbing certificate.

The transfer attorney must ensure the collection of the deposit, transfer duty, and conveyancer’s costs from the purchaser and clearance costs from the seller.

The collection of documents and figures, as well as the collection of costs, run concurrently.

The attorney commences drafting the transfer documents, the new deed of transfer, power of attorney, and any other supporting documents required to be lodged to pass the transfer.

The draft transfer documents are forwarded to the attorney registering the new bond. The seller and purchaser will have to sign the transfer documents at the attorney’s office.

Upon receipt of the monies from the purchaser, the attorney will pay the transfer duty receipt.

The attorney shall pay the municipality and/or the corporate or homeowners’ association to obtain the clearance certificates.

The conveyancer shall ensure that they sign all documents, confirming that the conveyancer accepts responsibility for the correctness of the facts.

A final check of all required information, costs collected, and the purchase price is secured. All transfer documents are prepared and correct.

Suppose another transaction is involved, such as the new bond. In that case, the attorney is informed and ready to lodge at the deeds office for both transactions to be registered simultaneously.

If all requirements are met, the necessary transfer documents are lodged in the deeds office for the examiners to review the documents to ensure all legal requirements have been met to transfer the property.

This process from lodgement to registration can take 7 to 14 days.