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Conveyancing and Property Transfers
The legal position is not just about whether a roof contains asbestos. It’s about how that asbestos is managed, what condition it’s in, and how the property is being used.
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Buyers often walk into the process with a clear idea of their deposit and instalments—only to be blindsided by once-off and ongoing expenses that stretch their budgets thin. These aren't small, incidental charges. They can add up to tens of thousands of rands before you’ve even moved in.
Mortgage bonds in South Africa are governed by strict legal processes that protect both the lender and the borrower. From the registration of the bond at the Deeds Office to the restrictions placed on a bonded property, these legal frameworks determine what a homeowner can and cannot do with their property while the bond is in place.
While securing a mortgage bond may seem like a straightforward process—apply, get approved, and move in—the reality is far more complex. Banks don’t hand out home loans freely, and buyers must meet strict bond requirements before securing approval.
In South Africa, disclosure requirements under the Property Practitioners Act (PPA) create a framework for transparency, but when it comes to non-physical defects like a property’s history, the legal picture is far from clear.
In South Africa, a house may have been the site of a murder, suicide, or violent crime, yet buyers often move in completely unaware of its past. Unlike structural defects, which sellers are legally required to disclose, the psychological history of a home is not considered a material defect under South African law.
Approved building plans are not a mandatory requirement for a property transfer to be executed. However, there are many instances where they will become a condition of sale (e.g. by request, from the purchaser and/or their financial institution or building insurance company)
Knowing what costs are involved with buying or selling property in South Africa is a crucial step of the process. Educating yourself on what to expect will help you determine what you are able to afford, the deposit you are able to put down, and whether or not you need a bond.
The Sale Agreement can also be known as the Offer to Purchase (OTP), where the buyer signs and submits the offer to purchase the seller’s immovable property. If the seller accepts the terms, they will also sign the agreement, and it becomes a legal and binding Sale Agreement. Once signed by both parties, withdrawing can incur severe penalties, unless one of the parties has failed to fulfil a condition of the agreement.
Navigating the conveyancing process in South Africa can be complex, but understanding the potential pitfalls can help you avoid unnecessary delays and costs. If you're buying or selling property, working with a trusted conveyancer will ensure that the process is as smooth and efficient as possible.
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