Page 13 - Selling your Home - The CommFREE guide to all you need to know

A STEP-BY-STEP GUIDE TO

FINALISING THE SALE

AGREEMENT

5. The key individual in selling property is the conveyancing attorney. This attorney will do
all the paperwork and make sure the title deed and bonds are registered. The
conveyancing attorney is usually appointed by the seller but the costs are paid by the

buyer. The banks generally appoint an attorney to handle registration of the buyer’s bond.

6. Once all the documentation is finalised, it is submitted to the Deeds Office for approval.
This could take anything from a few weeks to 4 months.

7. If the buyer wants to move into the property before “transfer” has taken place,
“occupational rent” or “occupational interest” will have to be paid to the seller until
transfer. Similarly, if the seller wants to remain in the property for a period after transfer
has happened, he or she will have to pay occupational rent to the buyer. The monthly

amount is usually stated in the Offer to Purchase agreement.

This is a guideline and not definitive legal
or tax advice. We recommend discussing

the details of this with your
conveyancing attorney as each

municipality have their own by-laws

13 13 Title of the book
The CommFREE Guide to Selling your Home