Don't be deterred by the complexity of the property transfer registration process. Buying a home is an exciting time and having the right conveyancer working with you will make the entire process straightforward and hassle-free. They are focused on being timeous, efficient and keeping you informed every step of the way.
What you can expect to pay for deeds registration after April 2020
The act of registering your newly purchased home is but step in the exchange of ownership process. If you're planning to buy a home after 1 April it is important to note that fees have increased.
These fees are increased on a yearly basis in terms of the CPI index. Here's what you can expect to pay depending on the value of your investment.
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Exceeds R1m but not R2m - about R1 220
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Exceeds R2m but not R4m - about R1 691
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Exceeds R4m but not R6m - about R2 061
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Exceeds R6m but not R8m - about R2 441
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Exceeds R8m but not R10m - about R2 854
See this comprehensive guide to applying for a bond Property 101 | Buyers Guide or Click here to calculate your bond costs based on your income and expenses.
Understanding the full conveyancing process and ensuring that you have all the necessary documentation ready will ensure that a smooth transfer of the property can take place.
It is made up of eight major steps within the property registration process. The Conveyancing and Property Law team at Abrahams & Gross have outlined them as follows - See full details on each step here.
Step 1 - Receipt of Deed of Sale
Step 2 - Fulfilment of suspensive conditions
Step 3 - Signature of documents and payment of costs
Step 4 - Compliance Certificates
Step 5 - Guarantees and FICA
Step 6 - Lodgement of Deeds at Deeds Office
Step 7 - Registration
Step 8 - Delivery of Deeds
24 Mar 2020
Author The Property Guide - Mar, 2019