B-Property Law strives to provide a good turnaround time for any transaction; providing the correct documents are key, in this process.
What documents are required from the SELLER of a property?
- Original title deed (If bonded, the financial institution will hold the title deed)
- Identification documents of seller
- Proof of residential address
- Confirmation of marital status (Antenuptial agreement, if married out of community of property)
- Bond account statement (If applicable)
If the seller is a company:
- Registration of the company (CIPC document)
- Identification and marital status of all directors
- Proof of residential address of all directors
If the seller is a trust:
- Letter of authority
- Trust deed
- Identification and marital status of all trustees
- Proof of residential address of all trustees
Costs involved for a SELLER:
- Estate Agency commission (Only if the property was sold by an estate agency)
- Bond and Bond Cancelation fees
Settle the outstanding bond amount, if there is an existing bond registered over the property, (from the proceeds of the sale) a cancelation fee will be charged by the cancelation attorney. - Compliance certificates
The seller is responsible for the costs for electrical, beetle, electric fencing, gas, and plumbing compliance certificates (if applicable). - Rates and taxes clearance certificate
The conveyancers will require a rates and taxes clearance certificate from the local municipality and the seller will be required to pay upfront to obtain this certificate. - Levies clearance certificate
If the property is situated within an estate or sectional title scheme, the homeowners’ association or body corporate must provide a clearance certificate and the seller will be required to pay for the certificate.