Welcome to our Property Transfers Department!

Who pays for what?

The Seller is normally liable for the following:

- Agent’s commission

- Outstanding amount due on any Bond registered over the Property

- Bond cancellation costs (due to Bond Cancellation Attorneys appointed by Bank to attend to cancellation)

- Amount required by Municipality to obtains a Rates Clearance Certificate (normally in advance for 3 months)

- The Costs of Compliance Certificates (Electricity, Water and Plumbing, Beetle, Gas, Electrical Fences)

- Levies due to Body Corporate / Homeowners Association up to date of registration of the Transfer.

The Purchaser is normally liable for the following:

- Transfer registration fees of the Transfer Attorney.

- Deeds Office transfer registration fees

- Transfer duty

- Expenses in relation to the transfer process (such as the program and administration costs involved to obtain the Transfer Duty receipt, Municipal Valuation and Clearance Certificate, generation of Transfer documents, FICA identification and verification costs, Deeds Office searches and diverse expenses)

- Bond registration fees of the Bond Attorneys.

- Deeds Office Bond registration fees

- Expenses in relation to the bonds process (such as the program and administration costs involved to obtain the Instructions from the Bank, generation of Bond documents, FICA identification and verification costs, Deeds Office searches and diverse expenses)

The fees and costs are calculated on the Purchase Price or Bond amount at a sliding scale published by the Legal Practitioners Council.

Why are there more than one attorney involved?

With a normal transfer, there are three Attorneys involved. All 3 Attorneys work together to lodge their documents at the same time in the Deeds Office and register their transactions together

·The Transfer Attorney: Appointed by the SELLER (It is important that the SELLER appoints the Transfer Attorney because it is the duty of the Attorney to protect the rights of the SELLER).

The Transfer Attorney arranges and obtains the following documentation:

- Transfer documents signed by Seller and Purchaser

- New draft Title Deed to be registered whereby the Purchaser is the owner of the Property

- Transfer duty Receipt

- Municipal rates Clearance Certificate

- Levy Clearance Certificate, if applicable

- Home Owners’ Association consent, if applicable

- Guarantees from Bond Attorneys for payment of the Purchase Price
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The Bond Cancellation Attorney: Appointed by the BANK who hold the Seller’s Bond.

The Bond Cancellation Attorney obtains the following documentation:

- The Title Deed whereby the Seller is still the owner of the property.

- The Bond Deed whereby the Bank is owed by the Seller.

- Guarantee that bond will be repaid on date of cancellation

- Consent to Cancellation of the Bond

The Bond Attorney: Appointed by the BANK who approved the Purchaser bond.

The Bond Attorney obtains the following documentation:

- Various loan and Bond documents signed by Purchaser

- New draft Bond Deed to be registered whereby the Bank is owed by the Purchaser.

How long does a normal transfer take?

This is a time consuming and complex process that takes between 6 – 10 weeks to complete.