Simultaneous Transfer & Bond Registration: A General Guide

Simultaneous Transfer & Bond Registration: A General Guide

Purchasing your first home? Here’s a general guide on simultaneous transfer and bond registration to help you with the basics.

A Timeline for first-time home Buyers

It can take up to three months for the simultaneous registration of transfer and bond documents, but knowing what to do and where to get help will make the process considerably quicker and easier.

Curious about what kind of conveyancing fees you can expect to pay?

Use our Transfer & Bond calculator for an accurate estimate of what your legal costs might amount to:

Step one: Purchasing a property

After concluding an Offer to Purchase with a suspensive condition of mortgage bond approval, the purchaser will apply for the relevant mortgage bond. The purchaser may choose either to approach the bank directly or may apply via a mortgage originator who will then process the home loan application on behalf of the buyer.

Step two: Bond approval

Upon receipt of final approval, the relevant financial institution will instruct one of its attorneys to attend to the simultaneous registration of the mortgage bond.

Step three: Simultaneous transfer and bond registration

The respective attorneys (which may also include a bond cancellation attorney) will liaise with one another in securing the appropriate guarantees for the purpose of simultaneous registration. The respective transfer, bond, and cancellation documentation (applicable if there is a cancellation) gets lodged simultaneously at the Deeds Office, the process of which, until lodgement, can take up to 5 to 6 weeks

Step four: Drafting the Deed of Sale

The respective conveyancers will attend to the drafting of transfer, bond, and bond cancellation documentation (if applicable). Thereafter, they will attend to the signature thereof and once all simultaneous transactions are ready to proceed with, the same will be lodged simultaneously for registration.

Step five: Lodgement

Once lodged at the Deeds Office, the Deeds Office will process such documents simultaneously lodged, which may take 7 to 10 working days. Thereafter the documentation will be simultaneously scanned into preparation, ready for simultaneous registration.

Step six: Registration

Upon simultaneous registration, simultaneous payment of guarantees will be processed.

Factors that can delay a bond registration:

  • A delay in due performance by either and/or both a seller or buyer.
  • Detrimental circumstances and/or conditions attached to the subject property
  • Unforeseen circumstances arising at the appropriate authorities, for example but not limited to SARS, local authorities, Deeds Office, DTC.

Do you need assistance with a transfer and bond registration? Contact AWD Law for professional property advice: / 082 782 3848

Kindly be advised that AWD Law does not enter into litigation on behalf of clients. Our conveyancers specialise exclusively in the development of vacant land, property transfers, bond registrations, administration of deceased estates and notarial practice. Should you require assistance with a litigation, kindly contact The Legal Practice Council.

Contact AWD Law For Professional Property Advice before signing your Offer to Purchase.

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