Transferring Title On A Property – When To Consult A Conveyancer
Buying a property will most likely be the biggest purchase you make and it is an investment in your future. There are many pitfalls that could delay the transfer of ownership and potentially also cost you a lot of money.
Before making long-term commitments and exposing yourself to unnecessary risk and stress, ensure that you understand the process and the legal implications before you buy or sell your property.
Choosing the wrong estate agent
This could cost you thousands if you get it wrong. Do some basic research before choosing an estate agent, especially if you are a first-time buyer. As a good starting point, it is advisable to contact a conveyancer and ask them which estate agents they deal with and which they recommend.
Choosing the wrong conveyancer
By law the only person who can register property transactions in the Deeds Office is a conveyancer. To be a conveyancer, a registered attorney has to complete a post-graduate qualification. You have every right to check a person’s qualification and credentials before you appoint a conveyancer. Choosing an inexperienced or unqualified conveyancer can cause a nightmare and endless disputes before the transfer is complete.
Choosing the wrong financial or mortgage advisor
Very few people are in to position to buy a property for cash. The first step is to determine whether you can afford the property and factor in the legal fees and transfer duties.
It may happen that the buyer of property does not put down the deposit on time or is unable to secure finance. If this happens your estate agent together with the help of your conveyancer will need to step in to assist.
It may also happen that the purchaser’s current mortgage needs to be discharged. Here the conveyancer will step in to ensure a Certificate of Title is issued, which will then be handed to the buyer once they have paid out the mortgage with proceeds of the sale.
The Necessity Of Using A Conveyancer
Property transfer and conveyancing in South Africa is fraught with potential pitfalls, which are not only time consuming but also expensive and stressful. This makes it all the more important that you choose a conveyancer that has both the knowledge and experience to protect your rights and interests as well as the integrity of the South African Land Registration System.