The Sales Process

It is important to know these steps and to understand that from step 1 it constitutes legally binding responsibilities on all parties involved.
  • Agreement of Sale/Offer to Purchase document is signed by both parties (Note:  This is a legally binding document)
  • The appointing Conveyancing Attorneys receive the signed Sale Agreement and begin the transfer process.  They make contact with both parties.
  • All suspensive conditions to the Sale Agreement are called for and noted by the Conveyancing Attorneys together with the collection of all relevant FICA documents.
  • Once the bond is approved (if applicable) and all other suspensive conditions are duly met and fulfilled, the Conveyancer will draft transfer documents for signature by both parties.  Both the Seller and Purchaser are called to sign these documents timeously.
  • The Purchaser is requested to pay the transfer and bond costs to the Conveyancer who then proceeds to obtain various certificates and clearances necessary for submission to the Deeds Office.
  • The Conveyancer then applies for a Rates Certificate, the Transfer Duty receipt from SARS and Levy Clearance Certificate if applicable and the Guarantees are also issued by the Bond Attorneys.
  • The Seller together with assistance from the property consultant involved in the said transaction, provides the Conveyancing Attorney with Electrical Compliance Certificate and Entomology Certificate.
  • Once the Conveyancer has all the required documents and certificates, the transfer documents are sent to the lodging agents in Pietermaritzburg for lodgement.
  • The Bond Documents, Transfer Documents and Bond Cancellation documents are all lodged simultaneously in the Deeds Office.
  • The matter is then REGISTERED in the Deeds Office 7-10 working days after lodgement and at this stage the existing bond is cancelled and the new bond (if applicable) is registered.  The Purchaser now becomes the new owner of the property.
  • The Purchase price is then transferred to the Seller, the existing bond is settled and the Conveyancer furnishes the parties with disbursements and final accounts.
  • FINALLY, THE PURCHASER BECOMES THE LEGAL AND EFFECTIVE OWNER OF THE PROPERTY/REAL ESTATE.
  • THE DEAL MAKERS/AGENTS AND IN OUR CASE, MINDRY PROPERTIES CC, FINALLY HAVING DONE ALL THAT IS REQUIRED OF THEM IN BRINGING THE TRANSACTION TO FINALITY, IS PAID BY THE SELLER !!