At Grant Gunston Inc. we have a specialised team dedicated to ensuring that your property transaction runs smoothly. We place high value on integrity, professionalism, efficient administration & communication with you, our client.
As a result, clients and Estate Agents have felt comfortable in recommending us to their friends, colleagues & clients - which has been the principal way in which we have grown our business.
Below is a timetable and a few notes on the Conveyancing process. Should you have any further queries about the process involved in selling/transferring ownership of property, please fee free to give us a call.
Conveyancing Timetable
| Process | Week No. |
|---|---|
| Instructions received by Conveyancer once all suspensive conditions fulfilled | 1 |
| Purchaser & Seller to supply ID, any marriage documents, and FICA compliance documents | 1 |
| Seller to supply Title Deed if no bond over property ASAP | 1 |
| Conveyancer prepares transfer documents | 1 |
| Seller to sign transfer documents | 1-2 |
| Conveyancer to arrange Bond cancellation (if applicable) in consultation with seller | 1 |
| Deposit paid, if applicable | 1-2 |
| Purchaser to sign transfer documents | 1-2 |
| Purchaser pays transfer costs | 2-3 |
| Purchaser signs bond documents and pays bond registration costs | 2-3 |
| Rates clearance certificate applied for | 1 |
| Rates clearance figures paid | 2-3 |
| Electrical and Beetle certificates arranged | 2-4 |
| Transfer Duty paid to Receiver of Revenue | 3-4 |
| Rates Clearance certificate received | 4-5 |
| Transfer documents lodged at Deeds office | 5-6 |
| Mortgage Bond, and/or cancellation of Bond documents are lodged simultaneously with transfer documents | |
| Registration (± 8 - 10 days after lodging) | 7-8 |
1. Although the transfer process normally takes approximately 6 - 8 weeks, various factors can cause delays e.g. the Municipality requiring additional documentation/funds when rates clearance is applied for; either party delaying payment of the required funds; either party being out of town. We use our best endeavours to minimise these delays and to keep all parties informed during the transfer process.
2. Rates clearances for the greater Cape Town areas are dropped and collected by us daily to avoid postal delays.
| Estate Agents Commission | % of the Purchase Price |
| Beetle Inspection 1 | ±R500,00 |
| Electrical Inspection 1 | ±R500,00 |
| Bond Cancellation Fees (1 bond) 2 | ±R1000,00 |
1. Any repairs required before a beetle and/or electrical clearance certificate can be issued would constitute an additional cost to the Seller.
2. The cost of cancellation of additional bonds with the same bank/bondholder is less than that of the 1st bond.
3. Obviously, any existing bond balance which the Seller may have must be settled on or before transfer.
4. The Seller is normally liable to pay rates up to the date the purchaser takes occupation or transfer, whichever occurs first. This may involve paying a few months rates in advance. This is payable before registration of transfer. If there are rates arrears, bridging finance will have to be arranged. We would be happy to assist the Seller in making these arrangements in order to facilitate a smooth transfer process.
1. The Purchaser normally pays the transfer and bond registration costs. These costs vary depending on the purchase price. For a complete list of costs for natural persons and legal entities, go to our website - www.grantgunston.co.za
2. The Purchaser pays the pro-rata share of the rates from date of transfer or possession, whichever occurs first, to the end of the rates year (30 June).
