HomeHome SearchSearch MenuMenu Our productsOur products

Buying a property? Here's how the sale process works…

by , 24 February 2015

Finding the perfect property to buy is only half the battle.

Once you've submitted your offer to purchase and the seller accepts, there are a number of things that need to happen before you'll get the keys to your property.

So what does this entail?

Read on to find out…


Get a bond for your property


Once the seller of the property you want to buy accepts your offer to purchase, you need to get a bond approved. You can’t apply for this until the seller accepts your offer.

Instead of applying to different banks for finance, an easier way is to get a bond originator to do the job for you. They’ll look for the best deal for you.


Next comes the transfer of property


Once you have a bond approved, the next stage involves the transfer of property.

The property seller’s transfer attorney will contact you. This attorney is in charge of transferring the property from the current owner to you.

For this service you’ll have to pay transfer costs and some other fees. If the property is valued at over R600,000, you’ll also have to pay transfer duties.

The attorney will also arrange a clearance certificate from the municipality. For this, you’ll likely have to pay three months’ worth of levies and taxes.


The final stage in buying your property


Once the transfer is done and dusted, you’ll have to finalise the bond. You’ll need the services of an attorney to do the bond registration for you.

You’ll also have to pay the bank a bond initiation fee.

As soon as the bond is registered, the property is yours.

So there you have it. How the sale process works when you buy a property.

*********** Advertisement ************

What you’re about to read will turn everything you believe about achieving financial security upside-down!

You see, I have unlocked the key to achieving financial freedom. The key that could bank you up to R320,000 in the next 12 months. The key that could finally help you live the life you want to live.

And it’s not the typical hogwash and empty promises you see advertised every day.  My step-by-step instructions will help you to never rely on your salary again… You might even be able to tell your boss to ‘shove it’!

Discover how you can achieve financial security today.

***********************************



Buying a property? Here's how the sale process works…
Rate this article    
Note: 5 of 1 vote

Have a trading or investing question? Click Here


Related articles



Related articles


Watch And Learn




Trending Topics