Pullock Attorneys

Understanding the property transfer process

Buying or selling a home is one of the biggest financial decisions most people make. Here’s exactly how a transfer works, who does what, and roughly how long each stage takes, in plain language.

We more often than not speak of Conveyancing when we consider the legal process of transferring ownership of a property from the seller to the buyer, and registering that change in the Deeds Office. In South Africa this can only be done by a qualified conveyancer which is an attorney with additional specialist admission. The seller usually nominates the transferring attorney, and the whole process typically takes eight to twelve weeks from acceptance of the offer, though it can be quicker or slower depending on bonds, rates, and compliance certificates.

The transfer process, step by step

1

Offer to purchase accepted

The signed offer becomes a binding sale agreement. The transferring attorney is instructed and opens the file.

2

Conveyancer instructed & documents prepared

The conveyancer requests the original title deed and bond cancellation figures (if applicable) and prepares the transfer documents for signature by the parties. At the same time, rates and levy figures are requested and documents are submitted to SARS for transfer duty assessment.

3

Buyer and seller sign

Both parties sign the transfer documents. The buyer pays transfer costs and the seller signs bond cancellation instructions.

4

Transfer attorneys, mortgage bond attorneys and bond cancellation attorneys coordinate

If there’s a new bond , the bond attorney prepares those documents; the seller’s existing bond is readied for cancellation. All transactions must be lodged at the Deeds Office as a batch to ensure that the finances are linked.

5

Levies (if applicable), rates & compliance

The transferring attorney secures a rates clearance certificate from the relevant authority as well as a levy clearance certificate and/consent from the body corporate and/or home owners’ association (if applicable) together with all agreed compliance certificates from the relevant contractors.

6

Transfer duty paid to SARS

Transfer Duty is paid to SARS and a Transfer Duty Receipt is issued. If Transfer Duty is not applicable then the conveyancer will ensure that SARS issue a Transfer Duty Exemption Certificate for lodgment in the Deeds Office. The Deeds Office examines everything over roughly 7-10 working days.

7

Lodgement in the Deeds Office

When all supporting documents are signed and issues, the simultaneous matter are lodged in the relevant Deeds Office. The Deeds Office examination process usually takes between 7-10 working days to complete and once the Deeds Office are satisfied that the documents are in order, the matter goes on to prep. Once at prep, the matter is ready to be handed in for registration.

8

Registration

On registration, ownership passes to the buyer, funds are paid to the seller, and the property is handed over to the buyer. Final accounts are prepared at this stage and sent out to the buyer and seller and agent’s commission and contractor’s invoices et al are paid.

The types of transfer we handle

Conventional transfers — stand-alone houses and vacant plots.
Sectional title transfers — flats and townhouses
Farm and agricultural transfers — often with subdivision or consent requirements.
Minor subdivisions and consolidations — splitting or combining erven.
Opening sectional title and township registers — for developers and new schemes.

What you’ll pay

As the buyer, the main costs are transfer duty (a tax paid to SARS, on a sliding scale), the conveyancing fee (based on the purchase price calculated, on a recommended guideline tariff), and Deeds Office and sundry fees. If you’re financing with a bond, there are separate bond registration costs. Our cost calculator gives you an indicative total in seconds, and we’ll always give you an exact quote before you commit.

Common questions

How long does a property transfer take?

Usually eight to twelve weeks from acceptance of the offer to registration. Delays most often come from outstanding rates, bond approvals, or compliance certificates — we chase these actively to keep things moving.

Who chooses the conveyancer?

By convention the seller nominates the transferring attorney, though this can be negotiated in the offer to purchase.

When do I get the keys?

On registration — the moment ownership passes in the Deeds Office — unless occupation was agreed earlier in the sale agreement, in which case occupational rent may apply.

What's the difference between transfer costs and bond costs?

Transfer costs move ownership to you and include transfer duty. Bond costs register your home loan with the bank and are separate. A cash buyer pays no bond costs.

This page is general information about Pullock Attorneys’ services and is not legal advice. Costs and timeframes are indicative and vary by matter. Please contact us for advice specific to your situation.