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
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