Posted on October 16th, 2010 by zenia
Questions About Bond Transfers Answered
One of the frequently asked questions about bond transfers is how long such will take. To answer the question one has to understand that once both parties sign the ‘Offer to Purchase’ that a valid contract has been established. The period for bond transfers are normally calculated from the signing of the sale agreement. The seller provides the buyer a specific period in which to apply for a bond. This can be 7-14 days. The buyer must then submit all documents to the bank and there is another period of up to 21 days to have a loan approved. The financial institution approves the bond in principle, but certain conditions must be met. Once the conditions are met, the next phase takes place. In the mean time a request is placed for the cancellation figures of the seller’s bond. The bank must provide such and the buyer’s financial institution must provide guarantees. The above is just one part of the process regarding bond transfers. Only when the property transfer has taken place in totality can the process be deemed complete. As such expect from 40-90 days for the process of bond transfers to be completed.
Contact Details:
Contact Number:
012 654 4107 or 082 578 3104
Fax Number:
012 654 7407
Email:
bert@bertsmith.co.za
Website:
http://www.bertsmith.co.za
This free i Lead Online posting about Bert Smith Inc. was sponsored by i Lead Online. Should you wish to advertise for free on this website contact i Lead Online: mailto:info@ilead.co.za, http://www.ileadlegal.co.za/advertise . You can also advertise for free on the following sites:
Bond Registration, Property Buyer’s Bond and Registration of Transfers and Bonds
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Posted on October 16th, 2010 by zenia
Keep Bond Registration Costs In Mind When Shopping For Property
Bond registration costs also include the transfer costs. You can use the table at our site to calculate each part of the bond registration and transfer cost. It should be noted that there are several players involved in the registration and transferring of a bond. As such specific fees are payable and should be budgeted for when you shop for a home. Also note that a company or close corporation will pay more. The bond registration costs include:
• Conveyancing fees
• Stamp duty
• VAT
• Posts & Petties
• Deeds Office fees
The transfer costs include:
• Transfer duties
• Conveyancing fees
• Posts & Petties
• Deeds Office
• Incidental
Make sure you know what you will have to pay for bond registration before you set out in buying property. All transfer costs must be paid before the property ownership can be transferred.
Contact Details:
Contact Number:
012 654 4107 or 082 578 3104
Fax Number:
012 654 7407
Email:
bert@bertsmith.co.za
Website:
http://www.bertsmith.co.za
This free i Lead Online posting about Bert Smith Inc. was sponsored by i Lead Online. Should you wish to advertise for free on this website contact i Lead Online: mailto:info@ilead.co.za, http://www.ileadlegal.co.za/advertise . You can also advertise for free on the following sites:
Registration and Cancellation of Bonds, Property Bond Registrations and Registration of Transfers and Bonds
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Posted on September 14th, 2010 by zenia
Conveyancing Of Property Process Explained
The conveyancing of property should be handled by an experienced conveyancing attorney to reduce the risk of errors and additional delays. The following is a list of steps involved in the conveyancing of property.
• Purchaser signs the offer to purchase agreement. Seller signs and a deed of sale comes into effect.
• Purchaser can where required, place a deposit with the conveyancing attorney.
• Purchaser where relevant, applies for a loan.
• The conveyancing attorney proceeds with the administration of the property transfer and may approach the buyer to get the transfer duty money in order.
• The attorney obtains information regarding the bond holder and obtains cancellation figures.
• The attorney obtains a copy of the title deed.
• Guarantees are given.
• The conveyancing attorney ensures that funds for the full purchase price are ready for when the transfer needs to take place and prepares the necessary conveyancing of property documentation.
• The attorney obtains a transfer duty receipt as well as the rates clearance or levy certificate.
• The conveyancing attorney also assesses whether there are any interdicts, and then where relevant, will liaise with cancellation attorneys to ensure that all transactions can go through at the same time.
• The documents at the Deeds Office are inspected and then the conveyancing of property can be finalised.
Contact Details:
Contact Number:
012 654 4107 or 082 578 3104
Fax Number:
012 654 7407
Email:
bert@bertsmith.co.za
Website:
http://www.bertsmith.co.za
This free i Lead Online posting about Bert Smith Inc. was sponsored by i Lead Online. Should you wish to advertise for free on this website contact i Lead Online: mailto:info@ilead.co.za, http://www.ileadlegal.co.za/advertise . You can also advertise for free on the following sites:
Property Law and Conveyancing, Property Conveyancers and Property Law
Filed under: Gauteng, Legal Services, Property Law, South Africa | No Comments »
Posted on September 14th, 2010 by zenia
Transfer Of Property Costs
Although it may have been possible to have the transfer of property process completed within six weeks in the past, you should allow for a minimum of 60 days to 90 days for the process. By knowing this upfront, you will not get frustrated in the process. It should also be noted that there are transfer of property costs to be paid before the property can be registered and transferred into the name of the purchaser. The transfer duties are government taxes on the sale or transfer of property. The tariffs are based on the value of the property. Vacant land will thus have lower transfer duties than the residential properties. This is so because the value of residential property is calculated on the land and the structures. Fortunately property under R5 00 000.00 have no transfer duties associated with them. Companies and trusts however, pay a flat rate of ten percent. If you want a breakdown of costs associated with the transfer of duties view our Conveyancing Fees section.
Contact Details:
Contact Number:
012 654 4107 or 082 578 3104
Fax Number:
012 654 7407
Email:
bert@bertsmith.co.za
Website:
http://www.bertsmith.co.za
This free i Lead Online posting about Bert Smith Inc. was sponsored by i Lead Online. Should you wish to advertise for free on this website contact i Lead Online: mailto:info@ilead.co.za, http://www.ileadlegal.co.za/advertise . You can also advertise for free on the following sites:
Property Transfers, Property Developments and Construction and Transferral of Property
Filed under: Gauteng, Legal Services, Property Law, South Africa | No Comments »
Posted on August 26th, 2010 by zenia
Bond Registration – You Don’t Have To Do It Alone
The board game “Monopoly” makes buying and selling property seem so simple. That is probably because you can buy the land, houses and hotels for cash. In real life things are different and we don’t get to pass go and collect money; instead we have the option of a mortgage or bond. If you fall into this category and need help with your bond registration, you can rely on the legal services of Bert Smith Incorporated.
They will do all the property conveyance on your behalf and before you know it you will be able to play the game ‘monopoly’ in your new home! Why don’t you contact Bert Smith Incorporated right now and discuss the steps you have to follow for bond registration.
Contact Details:
Contact Number:
012 654 4107 or 082 578 3104
Fax Number:
012 654 7407
Email:
bert@bertsmith.co.za
Website:
http://www.bertsmith.co.za
This free i Lead Online posting about Bert Smith Inc. was sponsored by i Lead Online. Should you wish to advertise for free on this website contact i Lead Online: mailto:info@ilead.co.za, http://www.ileadlegal.co.za/advertise . You can also advertise for free on the following sites:
Bond Transfers, Property Bonds and Bond Financing
Filed under: Gauteng, Legal Services, Property Law, South Africa | No Comments »
