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The Transfer Process

property24 Property 101 Find your perfect home SOLD MOVERS The Transfer Process 1 O Seller puts house on the market Buyer finds the house & makes an Offer 2 O Seller accepts the Offer, which is then signed by both parties On receipt of a copy of the Offer to Purchase, the Buyer's Bank performs a property valuation as well as a credit check and then approves a bond BOND 3 O Estate Agent oversees the next stage BOND Seller selects: Seller's Bank selects: Buyer's Bank selects: Bond Attorney Transfer Attorney Cancellation Attorney O Simultaneously, the following events happen: Transfer Cancellation Bond Attorney Attorney (Seller) Attorney (Buyer) (Seller) Receives » Supporting documents from Buyer and Seller Cancels Seller's existing bond Prepares Buyer's bond Cancellation figures from Cancellation Attorney > Title Deed from Cancellation Attorney Rates clearance certificate Pays Transfer Duties and rates clearance 4 O Buyer and Seller sign transfer documents O drawn up by the Transfer & Bond Attorney O Deeds Office receives: O Transfer Attorney: Cancellation Bond All documents that support the transfer of property from Seller to Buyer Attorney: Title Deed and bond Attorney: New bond cancellation information information 6. O Deeds Office: Examines the documents Prepares transaction for registration Executes registration 7 O Bank pays out the bond Home • Estate Agent is paid commission O Buyer takes ownership • Cancellation is settled • Seller receives balance of purchase price For more information, visit: www.property24.com property24 Find your perfect home © Property24.com. All Rights Reserved. BOND property24 Property 101 Find your perfect home SOLD MOVERS The Transfer Process 1 O Seller puts house on the market Buyer finds the house & makes an Offer 2 O Seller accepts the Offer, which is then signed by both parties On receipt of a copy of the Offer to Purchase, the Buyer's Bank performs a property valuation as well as a credit check and then approves a bond BOND 3 O Estate Agent oversees the next stage BOND Seller selects: Seller's Bank selects: Buyer's Bank selects: Bond Attorney Transfer Attorney Cancellation Attorney O Simultaneously, the following events happen: Transfer Cancellation Bond Attorney Attorney (Seller) Attorney (Buyer) (Seller) Receives » Supporting documents from Buyer and Seller Cancels Seller's existing bond Prepares Buyer's bond Cancellation figures from Cancellation Attorney > Title Deed from Cancellation Attorney Rates clearance certificate Pays Transfer Duties and rates clearance 4 O Buyer and Seller sign transfer documents O drawn up by the Transfer & Bond Attorney O Deeds Office receives: O Transfer Attorney: Cancellation Bond All documents that support the transfer of property from Seller to Buyer Attorney: Title Deed and bond Attorney: New bond cancellation information information 6. O Deeds Office: Examines the documents Prepares transaction for registration Executes registration 7 O Bank pays out the bond Home • Estate Agent is paid commission O Buyer takes ownership • Cancellation is settled • Seller receives balance of purchase price For more information, visit: www.property24.com property24 Find your perfect home © Property24.com. All Rights Reserved. BOND

The Transfer Process

shared by Property24.com on Nov 05
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Once your home loan has been approved, it’s time to start the ball rolling and get your property registered in your name. Although the property registration process may seem lengthy, the following s...

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