Conveyancing.

Conveyancing Attorneys

Barter McKellar’s conveyancing attorneys are able to assist you with a full array of property legal services and we represent a wide variety of developers, lenders, investment banks, real estate trusts and private clients. We pride ourselves on fostering long term relationships with our clients and providing them with the best quality of legal services.

Selling or Buying a Property

So you have decided to sell your property - now what?

Step 1: Advertising and Marketing Your Property

• You will either attempt to sell your property yourself or mandate (i.e. authorise) an estate agency to market your property. Your property is then marketed via advertisements, etc. to potential buyers which can last for a few days, weeks or months.

• It is advisable to prepare a detailed and comprehensive disclosure document for potential buyers which contains all they need to know about your property's true condition (e.g. all potential flaws, issues, etc.). A disclosure document helps prevent any disputes after the transfer date.

• If a mortgage bond is registered over your property, you as the seller must notify the bank of your plan to sell the property and cancel the mortgage bond in order to avoid paying a 90-day penalty interest.

Step 2: Offer to Purchase

• When a potential buyer is interested in buying your property, they will provide you with an Offer to Purchase (a.k.a. “OTP”) for your consideration. and signature if they decide to buy your property.

• The offer to purchase should be carefully read by you and if necessary, legal counsel should be sought before signing. The disclosure document provided to the buyer should form part of and be attached to the OTP.

• If the offer and its terms are acceptable to you, you will then accept the offer by signing the OTP. It is important that the disclosure document must still be true and correct in all respects at the time that the parties sign the OTP.

• Once the OTP is signed, a legally binding and enforceable contract comes into existence and then, either you or your estate agent must instruct a conveyancer (i.e. a trained attorney with extra qualifications) to handle the transfer of the property from yourself to the buyer.

Step 3: The Transfer Process

• To speed up the transfer process, it is essential that your conveyancer receives the necessary and required information and papers as soon as possible and which information includes, inter alia:

  • Copy of ID/Passport/Registration

  • Proof of Residence/Registered Address by way of a Municipal Account

  • SARS Income Tax Number

  • Current Bond Account Number for Bond registered over property sold (if applicable)

  • If a married individual, then a copy of your Marriage Certificate and Antenuptial Contact (if registered)

  • municipal clearance certificate

  • Compliance Certificates (electrical, gas, electric fence and entomology, as applicable)

• During the transfer process and up until the moment the transfer is registered, you (i.e. as the Seller) are required to continue making regular and necessary payments in respect of the property (e.g. mortgage bond installments, rates and taxes, etc.)

• Your municipal clearance certificate must be valid until the date of registration of the transfer, as well as clearance from, if applicable your body corporate and/or home owners association.

• The payment for your Compliance Certificates (electrical, gas, electric fence, and entomology, as applicable), Estate Agent's Commission (if applicable), Bond Cancellation Costs (if applicable) and other fees must be made in advance.

Step 4: Registration of Transfer

• Unless otherwise specified in the OTP, the Buyer is entitled to take occupation on the date on which the transfer of the property is registered at the Deeds Office