THE CONVEYANCING PROCESS
THE ROLE PLAYERS
Seller, Buyer, Estate Agent, Bond Originator, Bank, Local Municipality, Transferring Conveyancer (Appointed by Seller), Bond Conveyancer (Appointed by New Bond Holder), Cancellation Conveyancer (Appointed by Existing Bond Holder), Deeds O�ice
OFFER TO PURCHASE
Purchaser makes an O�er to Purchase property from Seller
BOND APPROVED BY BANK
BOND REGISTRATION PROCESS
BOND REGISTRATION PROCESS TRANSFERRING CONVEYANCER
TRANSFER PROCESS BOND CALCULATION PROCESS
BOND CANCELLATION PROCESS
ARRANGE SIMULTANEOUS LODGEMENT IN DEEDS OFFICE
READY TO LODGE READY TO LODGE READY TO LODGE
1. Request cancellation figures and release of title deed from bond holder.2. Obtain levy/rates clearance figures.3. Obtain supporting documentation from Seller and Purchaser
INITIAL STEPS:
Forward copy of Title Deed and cancellation figures to Transferring Conveyancer.
Will need guarantee for amount required to cancel bond
INITIAL STEPS:
1. Purchaser and Seller to sign transfer docu- ments2. Purchaser to pay transfer costs3. Obtain transfer duty clearance4. Obtain rates / levy clearance certificate
SUBSEQUENT STEPS
1. Examination of Deeds2. Transaction on “prep”3. Registration of transactions
DEEDS OFFICE1. Seller to close Utilities Account2. Seller to arrange for Refund and inform Transfer Conveyancer of the amount to re- ceive from Municipality
POST REGISTRATION
1. Request copy of Title Deed and guarantee requirements from Transferring Conveyancer
Rates / Levy clearance figures received.Obtain cover from parties
Provide Bond Registration Conveyancers with guarantee requirements and copy of Dra� Title Deed
Receive guarantee requirements and copy of Title Deed
Prepare guarantees and bond registration documents
Purchaser signs and pays bond registration costs
Forward guarantees to Transferring Convey-ancer
Receipt of guarantees - forward to Bond Can-cellation Conveyancers Receive cancellation guarantee
Receive copy of Title Deed and cancellation figures from Bond Cancellation Conveyanc-ers.Draw transfer documents.
INITIAL STEPS:
1. Receives request:2. Calculates amount outstanding on Seller’s bond.3. Issues sancellation figures and Title Deed to bond cancellation conveyancer
BOND HOLDER:
