The document outlines the key steps and considerations in the property conveyancing process, including signing a sale agreement, securing financing, registration of ownership transfer, paying transfer duties and costs, cancelling existing bonds, and obtaining various compliance certificates from local authorities. It discusses related procedures such as investing funds, paying rates and taxes, occupational rent, and finalizing the transaction at the Deeds Office to transfer ownership to the purchaser. The overall conveyancing process involves coordination between various role players like attorneys, banks, the Deeds Office, and local municipalities.

1. Welcome to

2. The Conveyancing Process

3. Steps in the Process
1. Sign a Contract
2. Secure the Purchase
Price / Financing
3. Registration

4. Step 1: Sign a Contract
• Parties
• Property
• Purchase Price
• Other clauses agreed upon
by the parties

5. Step 2: Secure the Purchase Price
• Deposit
• Loan
• Balance purchase price
• Amendments to Agreement

6. Step 3: Registration
• Transfer Attorney
• Cancellation Attorney
• Bond Attorney

7. The
Conveyancing
Process

8. FICA
• What is FICA?
• The Financial Intelligence Centre Act
• Purpose of FICA
• Personal Documents

9. Cancellation of Bond
• Amount required to Cancel current bond
• 90 Days Notice Period
• Cancellation Costs
• Secured by means of Gaurantee
• Consent to Cancellation
• Refunds

10. Rates Clearance Certificate
• Clearance Certificate required from Local
Council
• Confirmation that rates and taxes are paid
up to date
• Issued in advance (6 months)
• Payable by Seller
• Apportioning
• Refund

11. Levy Clearance Certificate
• Home Owners Association
• Body Corporate
• Confirmation that levies are paid up to
date
• Payable by Seller
• Apportioning

12. Investment of Funds
• Attorneys Trust Account
• Interest to Law Society – Fidelity Fund
• Invest ito Section 78
• Risk vs Advantage - Interest
• Requirement to issue guarantees
• Costs

13. Transfer Duty
• Tax payable to SARS
• Payable by Purchaser
• Calculation
• Transfer Duty vs VAT
• Personal tax affairs

14. Transfer Costs
• Attorney’s fee for transfer / bond
registration / Cancellation
• Determined by Law Society
• Disbursements
• Avid Firefly

15. Signature of Documents
• Transfer Documents
• Bond Documents
- Bank
- Attorneys
• FICA!!!!

16. Guarantees
• Why and What?
• Issued by Bond Attorney / from Investment
at Attorney / from personal investment

17. Electrical Compliance
Certificate
• When?
• What does it certify?
• Responsibility of the Seller
• Recourse

18. Other Certificates
• Electrical Fence Certificate
• Gas Conformity Certificate
• Vegetation & Plant Species Certificate
• Beetle Certificate (KZN)
• Water Certificate (Cape Town)

19. Occupational Rent / Interest
• “Rental” payable while occupying a
property not registered in your name
• Payable by Seller / Purchaser
• Agreement as per contract
• Keys

20. Deeds Office
• Lodgement
• Examination
• Preparation (Prep)
• Registration

21. Final Statements of Account
• Reconciliation of finances and any amount
owed to / by both parties
• Sent by transferring attorney

22. After Registration – What now?
• “The fat lady sings”
• Purchaser now the owner of property
• Open / Close accounts Council / Body
Corp / HOA
• Occupation

23. What can Seller/Purchaser do to
expedite the process?
• Give Notice to Cancel your bond
• Ensure municipal account is correct
• Apply for a tax certificate at SARS
• Apply for a pre-approval of a bond
• Supply Conveyancers with documentation
and/or information asap
• Obtain ECC

25. www.kvvinc.co.za
training@kvvinc.co.za
087 351 2022