Bond Registration process - KVV Training Centre

1. Bond Registration
Process

2. Preliminaries
• To provide security to the Bank iro finance granted
• Suspensive Condition to Offer to Purchase
• NB!!
- Amount granted
- Time allowed for bond grant
• Quotation ito National Credit Act

3. Steps in bond
registration process
1. Contact client
- Obtain and verify FICA
- Special conditions
2. Request Draft Deed & Guarantee Requirements
from Transfer Attorneys
3. Drafting of Bond Documents
4. Signature

4. Issuing Guarantees
• Why and What?
• Issued by Bond Attorney to Transfer Attorney
• When and How?

5. Steps after Signature
1. Submit documents to bank
2. Proceed instruction obtained
3. Transfer attorney to advise lodgement
4. Lodge
5. Prep – permission from bank
6. Registration
7. Payment of Guarantees
8. Delivery of Mortgage Bond & Title Deed to bank

6. Pit Falls
1. FICA
2. Special Conditions
3. Life Cover
4. Building Plans
5. Retention
6. Change in Financial Situation

7. www.kvvinc.co.za
087 351 2022