Buying or Selling property is the biggest financial decision most of us will ever make. The law requires that any agreement regarding the sale of a property has to be reduced to writing (in a contract) and signed by the seller(s) and the buyer(s). Although many people buy a property through the services of an estate agent, who will then assist the parties with this important contract, other people purchase a property privately, without an estate agent being involved. As the contract between the parties becomes binding once the parties have all signed, it is vital that the contract makes provision for all the necessary arrangements in respect of a property transfer.

Some of the important aspects that have to be addressed are:

  • The purchase price
  • How the purchase price will be paid (ie by means of a bond, deposit or cash)
  • When the occupation of the property will be taken by the purchaser
  • What amount of occupational interest will be payable by the purchaser
  • Suspensive conditions, such as that the buyer has to sell his current property to enable him to buy this property, or have a specified time within which to obtain a loan for the purchase
  • When registration has to take place
  • Which conveyancer will attend to the registration of the transaction

In order to ensure that all these aspects are dealt with, and in order to prevent costly litigation, later on, it is advisable that the parties seek legal advice before a contract is signed. We at Meyer Nel deal with private property transactions and those transactions initiated by estate agents on a daily basis and are well equipped to help you with this important process.

The process includes some of the following:

  • Obtaining a rates clearance certificate from the municipality
  • Obtaining a transfer duty receipt or exemption from SARS in respect of transfer duty, depending on the purchase price
  • Ensuring that the relevant mandatory certificates from an electrician, plumber and for the beetle inspection are received timeously
  • Drafting the necessary transfer documents correctly
  • Liaising with the attorneys attending to the registration of a new bond, and the attorneys attending to the cancellation of the existing bond over the property

Our firm specializes in conveyancing, and travel to the Deeds Office in Cape Town every day. We understand the intricate process involved in transferring properties because we have first-hand knowledge, we have been doing it for many years and are flexible when it comes to the needs of the parties. Let us take the worry and stress involved away from you by assisting you. Don’t hesitate to contact us if you have any questions regarding:

Many people have misconceived ideas about how the process works, and about when claims against a deceased estate are established. Often people are unaware of the costs involved in the administration of their estate and do not make sufficient provision for this in their estate planning. The appointment of a dependable executor in your estate is another area that requires serious attention.

Typical questions:

  • How long the process takes?
  • How much it will cost?
  • How does the process work?

We look forward to hearing from you! You can contact us here.