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Property Transfer South Africa

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Property Transfer South Africa

Step 1

Property Transfer South Africa | Once the seller has signed the ‘sale agreement‘ if applicable, the purchaser needs to obtain a home loan. In this instant, astute buyers will acknowledge, using an expert bond originator, such as ‘Ooba’. Likewise, who will help them understand and attain, the best home loan deal available from, the general banking industry?

Step 2

Hence, the seller has the choice. Of appointing a transferring attorney (conveyancer). Who will get FICA (ID and proof of property) of both parties? Consequently, then apply for the seller’s bond cancellation figures. After that, the bank sends the original Title Deed. To the bond cancellation attorneys.

Step 3

Above all, after preparation by the transferring attorney. Both purchaser and seller sign the transfer documents. The transferring attorney then requests figures from the Municipality. This procedure is to ensure. That all the seller’s rates and taxes are up to date. This procedure is done before lodging a clearance certificate issued by a Municipality.

Step 4

The purchaser is obliged to pay—the South African Revenue Services (SARS) transfer duty. A tax levied on property transfers. The transferring attorney. Will then request, a transfer duty receipt on SARS e-filing. He will also make the payment. Of the transfer duty. On behalf of the purchaser.

Step 5

The transferring attorney. Then lodges all the required documents, together with the new bond. And the old bond cancellation, with the Deeds Office. It takes 8 to 10 working days to examine these documents. Provided there are no changes; the transaction registration takes place. The purchaser is now the rightful owner of the property!

Property Transfer South Africa

To make the home-buying process that much easier. South Africa’s largest bond originators. Offer home loan affordability and bond repayments facilities. For this very reason, Get pre-qualified or apply for a home loan with Ooba today.

Miscellaneous Information

Courtesy: Ooba

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