22 Feb 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: https://awdlaw.co.za/bond-transfer-cost-calculator/
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: email@example.com / 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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Beste Bronwen, aangeheg bewys van betaling. Baie dankie vir jul altyd vriendelike diens.
Thank you so much for your excellent service. Looking forward to working with you in the future 😊
Awesome great thank you guys really appreciate the amount of effort that everyone put into this deal , please tell Andre I really appreciate the effort.
Good Day Bronwen Thank you, that is brilliant news!!! We appreciate your offices assistance and excellent service herein 😉 Have a great day.
Baie dankie vir die goeie nuus en die puik diens wat ons deurlopend by julle ontvang het tydens die duur van die transaksie. Ons waardeer opreg. Mooi dag vir julle."
Vind asb aangeheg ons registrasieskrywe en bewys van betaling van die kommissie hierin. Ons vertrou dit is in orde en bedank jou vir die vriendelike instruksie en samewerking hierin. Ons hoop ons kan gou weer saamwerk.
"Beste Annalize, Baie dankie vir jul goeie werk. Andre dankie vir jou ook! Vriendelike groete"
Nog ‘n goeie verwysing hier!
Net 'n opregte dankie vir jul puik, professionele en vriendelike diens. Ek kan julle regtig aanbeveel! Vriendelike groete
Graag dankie se vir jul flinke diens. Hartlike Groete
vreeslik baie dankie en vir julle uitmundende en professionene werk!!!
Good day Pertunia I really cannot thank you enough for your promptness and constant feedback you always provide, much appreciated.
Dear Pertunia, I trust that you are well. Thank you for your email, content duly noted. Once again thank you for your kind and professional assistance throughout the process. We highly appreciate everything you did. Yours faithfully
Dear Andre, I want to bring to your attention how appreciative I am of the service I received from Patricia Erasmus throughout my dealings with her. She has been professional, courteous and often went over and beyond one can expect, to keep me updated and informed, on the status of my sales transaction. She was prompt, throughout my dealings with her and she would often contact me with feedback before I could ask about it first. It is not often that one experiences this dedicated work ethic and please note that her service is a positive contribution to your business.
Vir Aandag - Mnr Andre Germishuizen Baie dankie vir proffesionele en uitstekende hantering van ons eiendomstransaksies - wees verseker ons waardeer dit opreg en ons beveel jou en jou span aan kliente wie met vertroue jou kan ondersteun. Seenwense
Good day Andre Thank you for your patience in this matter. We have received feedback yesterday afternoon.
Thank you for your wonderful service. It’s refreshing to receive such service honestly. Thank your boss for us as well, we really appreciate the professional service we received. Because of you I was able to take the transferring attorneys to task. Be blessed
Wow !! Dit was baie vinnig ! Lekker aand Groete
Wow...Thank you so much, I'm so impressed by the swift service I'm receiving. Blessed regards
THANK YOU FOR YOUR HELP WITH THIS TRANSACTION. IT HAS BEEN A JOURNEY SECOND TO NONE. WELL DONE AWD LAW
Fantasties, baie baie dankie Magda en Andre!! Lekker dag vir julle!
Goeie dag Andre Ek hoop dit gaan nog goed. Weereens dankie dat jy ons so vroeg kon sien Woensdagoggend. Dit is so lekker dat ons die kontrak voor werk kon doen en nie ‘n halwe dag verlof te moes insit nie. Aangeheg die bewys van betaling vir die rekening soos aan ons gegee is Woensdag. Hou ons asb op hoogte van wat alles gebeur en laat weet asb indien daar nog enige iets is wat jy van ons benodig. Groete
Good afternoon Pertunia. I would first off like to thank you for your very efficient and professional service and making the process of buying our first home as seamless and stress free as possible.