Conveyancing

Embarking on the journey of buying or selling a property can be a whirlwind of emotions, often accompanied by stress and financial strain. It’s no secret that this process can feel overwhelming and complex, leaving many feeling daunted by the magnitude of it all. At Meijer Attorneys, we thrive on transforming this daunting task into a smooth and seamless experience that you can trust and rely on.

With your best interests at heart, we have gone the extra mile to create a simplified and user-friendly guideline, tailored specifically to your needs. Once you’ve signed an offer to purchase, our comprehensive yet easily understandable instructions will serve as your roadmap, preparing you for the exciting journey ahead.

Upon receiving your instruction, we initiate the following actions:

  • We create a file in your name and conduct a WinDeed report, obtaining a copy and/or the original Title Deed.
  • We promptly contact both the Seller and Purchaser, requesting the submission of your FICA documents, current bond documents (if applicable), Compliance certificates, and your current municipality account and/or managing agent details.
  • We provide a courtesy call to ensure you have received our initial correspondence and to confirm accessible communication channels such as email, telephone, cell phone, and/or WhatsApp.

Fulfilment of Suspensive Conditions:

  • We await the receipt of the purchase price and/or deposit, as well as the approval of the bond. In the case of bond approval, we recommend that the Purchaser promptly provide us with the details of the bond Attorneys appointed by their bank.
  • Upon receiving the purchase price/deposit and/or bond approval, we initiate the process of obtaining cancellation figures for any existing loans registered on the property. The bank holding the current loan will appoint Bond cancellation Attorneys.
  • Simultaneously, our office requests clearance figures for rates/levies and/or home owners association fees, as relevant to the property.
  • We diligently draft all necessary documents and coordinate the request for guarantees from the Bond registration Attorneys, if applicable.

Signatures of Documents:

  • We initiate contact with both the Seller and Purchaser to facilitate the signing of all necessary documentation at our offices. Additionally, we request the Purchaser to promptly sign any required documents with the Bond Attorneys, if applicable to their transaction. It is important to complete these signings as soon as possible for smooth progress.

Finances:

  • In the normal course of events, the Seller settles any outstanding rates, levies, and/or Homeowners Association costs/fees and provides proof of payment to our offices.
  • The Purchaser, as per usual practice, settles the transfer and/or bond costs, if applicable to their transaction, and provides proof of payment to our offices.
  • Once payments are received, our offices initiate the application for clearance certificates and settle transfer duty costs with SARS, obtaining a receipt.
  • Upon receiving guarantees from the Bond Attorneys, if applicable, we forward the guarantees along with signed documents to the bond cancellation Attorneys, who seek permission from the bank to cancel the current bond on the property.

Lodgement and Registration at the Deeds offices:

  • Upon receipt of Rates, Levies, and/or Homeowners Association certificates, our offices coordinate with the Cancellation Attorneys for the current loan (if applicable) and the Bond Attorneys for any new loan (if applicable) to schedule a lodgement date at the Deeds offices.
  • On the agreed lodgement date, all Attorney firms involved submit their documents to the Deeds offices for inspection by examiners. The process typically takes 7 to 10 working days, subject to Deeds office timelines.
  • After examination, the process is noted as “on prep,” and upon registration, ownership transfers from the Seller to the Purchaser. The Seller’s loan is canceled, and the Purchaser’s new bond is registered on the property.

Proceeds of payment:

  • Finalization of finances is usually completed within 24 business hours following registration, considering any guarantee payouts and the bank’s processing time for the new bond settlement.
  • Final accounts and letters are sent to all parties for review and confirmation. Our offices then initiate a process to verify bank account details and settle all remaining accounts.

Deed Delivery Process:

  • The new Title deeds will be numbered and scanned by the Deeds offices, with a delivery time of 4 to 8 weeks to the relevant Attorneys. If applicable, the Transferring Attorneys will send the original deed to the Bond Attorneys; otherwise, it will be delivered to the Purchaser.
  • The Seller is advised to visit the municipality to close their existing rates account and request a refund.
  • The Purchaser is advised to visit the municipality to open their new rates account and ensure they receive their new account statement.
  • Our offices will notify the managing agent and/or Home Owners Association about the registration. The Seller must ensure they receive any due refund, and the Purchaser should ensure they receive their new account statement.

At Meijer Attorneys, our unwavering trust lies in our ability to transform your experience into one that is not only stress-free but also remarkably seamless. With our dedicated team of professionals, we offer personalised guidance and unwavering support throughout the entire process. Rest assured, we are committed to making your journey as effortless and smooth as possible, ensuring your complete peace of mind every step of the way.