Offer to purchase/Sale of property:

Property ownership can only be transferred when there is an agreement between the buyer and the seller.

There should be a written agreement between all parties to validate the transaction.

Loan agreements:

We are not on the banks’ panel, but we can assist you with drafting the contract between borrower and lender.
A loan agreement contains the details and conditions of the loan. It also serves as the registration of the loan against the borrower’s property at the relevant Deeds Office.

Lease agreements:

We can draft the contractual arrangement between the lessor and lessee to use the asset of the lessor for residential or business use.

Sale of commercial property:

We can assist with negotiating and drafting the contract for the sale of commercial property, ensuring compliance with relevant legislation, such as the Companies Act of 2008, Competition Commission, and the Deeds Registries Act.

We also facilitate the registration of the transfer at the appropriate Deeds Office.

Sale of going concern:

We can assist with the drafting of the contract, ensuring compliance with the requirements of SARS and registration of the transfer at the relevant Deeds Office.

Transfer of property when directors of a (Pty) Ltd or members of a CC change:
In some instances, a change in Directors’ or Members’ interest can result in a change in ownership of property.

We assist with the necessary contracts as well as any changes with CIPC and payment of transfer duty / VAT with SARS.

We assist buyers and sellers in meeting their contractual needs during the transfer of property, whether you fully own the property, it is being auctioned or it is a commercial property.

We can assist you with the following property types:

Full title (Erf) or Residential Property Conveyancing:

A full-title property is one in which the purchaser takes ownership of the land and everything built on it.

Sectional Title Property:

Ownership of a unit within a complex or development. Here the purchaser will own the unit, but the land surrounding the unit is common property unless the purchaser has been provided exclusive use of such area either by the body corporate or notarial deed.

Commercial Property Conveyancing:

Buildings or land intended to generate profit, either from profit or capital gain.

Sale in Execution / Sheriff Auction:

Property sold via sheriff auction as a result of a court order obtained by a creditor such as a bank, body corporate or homeowners association.

Deceased Estate:

Transfer of property from the deceased estate to a beneficiary or third party on the instruction of the executor.

Insolvent Estate:

Transfer of property on the instruction of the trustee of the insolvent estate.

Divorce:

Transfer of property in terms of the divorce order and settlement agreement.

Consolidation of Property:

Application to the Deeds Office for two or more pieces of land to be consolidated into a single unit of land.

Notarial Bonds:

A bond registered over movable property that a debtor has put up as security is registered at the relevant Deeds Office.

Servitudes:

Whether Praedial (one which a person has due to ownership in a specific property) or Personal (in favour of a particular person), registration of servitudes.

Notarial Tie:

Where two properties are tied through a notarial-tie agreement and registered at the relevant Deeds Office.

Section 68(1) Applications:

Suppose the original title deed to a property has been lost or destroyed, and a copy is required in order to replace the original.

In that case, you need to sign Section 68(1) affidavit and application, as well as advertise in a local newspaper in the area where the property is located.

These documents are then lodged at the relevant Deeds Office.

• Sellers will be charged an early termination penalty fee by their bondholder, should you not give the bank 90 days’ notice of your intention to cancel your bond.
• Make sure you have your FICA documents in order. Proof of residence should not be older than three months.
•  Before signing an Offer to Purchase (OTP), ensure you get a copy of the agreement from your real estate agent and understand the contents thereof.
•  Ensure that you have an income tax number to earn the required annual income and that your tax is up to date.
• Purchasers can approach a bond originator/bank to determine the amount of the bond they will qualify for before making an offer to purchase.
• As a purchaser, you should enquire about bond and transfer fees. This means there are no surprises.
• Sellers can obtain the compliance certificates, so they are ready when requested.
• Sellers should make sure that their building plans are updated, where applicable.

Homebuyers might assume that once they’ve looked at homes, signed an offer-to-purchase (with or without an agent) and received bond finance that the bank pays the seller and the house is now theirs.

It is not that simple as a property transfer can take up to three months to finalise.

Here are the steps involved:

1. The instruction is received by the transferring attorney (Ramirez Law Firm)who sends out initial letters to buyers & sellers and will diarise the file until the purchaser’s bond has been granted. (usually, the purchaser has up to 30 days to get a bond)
2. . The transferring attorney requests cancellation figures from the bondholder (usually 5 working days for a response, a further 3 – 5 working days until the cancellation attorney receives instruction).
3. The transferring attorney requests rates clearance figures from City Council and/or levy clearance from the relevant HOA or body corporate.
4. The transferring attorney receives cancellation figures/guarantee requirements and a copy of the title deed from the cancellation attorney.
5. The transferring attorney contacts the purchaser’s bond attorney. Request guarantees. Guarantees are only sent once the bond attorney has signed the client and received an ok from the bank (this can take up to a month).
6. Draft preliminary documents (this can only be done if clients have provided necessary FICA as requested in initial letters). Then both the buyer and sellers sign the transfer documents.
7. Bond attorney to send guarantees to transferring attorney and transferring attorney to send the same to cancellation attorney.
8. Receive costs from Purchaser. Pay SARS. Rates Figures received and payment requested from the seller.
9. The Transfer duty receipt (TDR) is received from Sars (this is issued 1 working day after payment is made). The Rates clearance certificate (RCC) is received (7 working days after payment) and Levy clearance certificate.
10. Once we have City Council consent, HOA consent/levy clearance and transfer duty receipt, we arrange lodgement.
    11. Submit to the Deeds Office for registration. (7 – 10 working days, this varies in each Deeds Office).

Your Conveyancer should:

•  Protect the interest of the client. Although the Conveyancer is usually appointed by the seller, the Conveyancer acts in the best interest of both seller & purchaser. Should a dispute that results in litigation arise, your Conveyancer needs to advise both parties to obtain alternate legal counsel.
• Inform the parties of the conveyancing procedure and keep them informed of the progress of the transaction.
• Advice on the content of the Offer to Purchase, especially regarding suspensive conditions.
• In respect of the cancellation of the seller’s bond advice on, any penalties, notice periods and other administrative charges which may affect the settlement figure.
• Do everything in their power to register the transaction as quickly and efficiently as possible.
• Ensure as far as possible that the transfer is not delayed.
• Prepare the deeds for lodgement with care, to minimise the risk of rejection of the documentation by the Deeds Office.
• Inform the parties of registration of the transfer on the day of registration.
• Once registered provide the parties with confirmation of registration, a final statement of account and proof of payment (where applicable).

Typically there are three conveyancing attorneys involved in a transaction for the transfer of property from the seller to the purchaser.

These conveyancing attorneys are known as the transferring attorney, bond attorney and bond cancellation attorney.

•  The transferring attorney is the attorney that attends to the registration of the property at the Deeds Office into the name of the purchaser. This attorney is in charge of the transaction and is responsible for communicating with the bond attorney, bond cancellation attorney, banks, SARS, relevant local authority and bond corporate/homeowner’s association.
• The bond attorney is instructed by the bank to attend to the registration of the purchaser’s bond at the Deeds Office.
• The bond cancellation attorney is also appointed by the bank and is responsible for the registration of the cancellation of the seller’s existing bond facility at the Deeds Office.