Make your property transfer a smooth process.

We all hate to wait.I think that most people will agree with that statement,especially when it comes to the transfer of your property.Whether you are the buyer or the seller you want the deal to go as smoothly as possible so that you can move on to your next venture.The way to ensure a smooth transfer is to make sure that all your affairs are in order,from your tax to the period of notice you have to give the bank.

Depending on the bank you have your bond with they may have included a clause stating that you the owner must give them 90 days notice of your intention to cancel your bond.This is very important to know because if you do not give them this period of notice you can be held liable for the interest you would have paid over 90 days even if transfer has already gone through.So as a seller check with the bank as to whether or not you have this clause on your bond and if so give them notice early enough so that you don’t end up paying all that extra interest.

Another major thing that could ruin the chance of a speedy transfer is the status of your tax history with SARS.Keep in mind that if your tax affairs are not up to date SARS will not issue a Conveyancer with a transfer duty receipt.This goes for both the buyer and the seller,if either party is not up to date there could be major delays.

The information regarding ownership of the property is also vitally important to keep up to date.In the case of multiple owners of a single property make sure any deaths or divorces are accurately reflected in any important documentation.Be aware of what is important and check that the sale agreement reflects information correctly,whether it’s the method of payment agreed upon or who exactly is selling the property.

So you may feel you can leave all the details up to the professionals but first make sure that there will be no unnecessary delays due to oversights that could have been avoided.