Selling your Property
- Prepare your house to make a best possible first impression with the potential buyer (see tips elsewhere on this web site)
- Decide on best way to sell property, by considering various estate agents, advertising offered by private seller, media 24 and agent.
- If agent(s) are appointed, negotiate agent's commission payable on sale transaction.
- Obtain various certificates required to sell property these are:
- Electrical compliance certificate
- Original title deed (if applicable)
- Gas certificate (if applicable)
- Borehole certificate (if applicable)
- NHBRC certificate if new property.
- Consider sale offer from potential buyer and sign offer if accepted.
- The sale transaction should explain at least the following elements of the sales contract:
- The agreed price for the property.
- The rental agreed if seller or buyer will rent property from the other party before transfer.
- The agents commission applicable.
- Occupation date.
- List property defects.
- Appoint transfer attorney and forward sale agreement to transfer attorney.
- Furnish Fica and other documents to transfer attorney.
- Furnish bond account details to transfer attorney.
- Give notice to mortgage bank of intention to cancel bond.
- Maintain property until date of registration.
- Maintain bond instalments until date of registration.
- Maintain property insurance until date of registration.
- Ensure that rates account is up to date and electrical and water meter are in good working condition.
- Request rates clearance figures from council.
- Ensure any outstanding tax queries are addressed with SARS.
- Sign transfer documents with transfer attorney.
- Furnish transfer attorney with banking details for payment of proceeds.
- Make payment of the rates clearance figures to the transfer attorney. It remains the duty of the seller to obtain his refund from the council.
- Make payment of the levy clearance figures/home owners association clearance figures (if applicable) to the transfer attorney.
- After registration of transfer ensure accounts are closed at local council.
- After registration change or close insurance on property.