A QUICK GUIDE TO THE CONVEYANCING PROCEDURE

Step 1	Receipt of Deed of Sale
Acknowledgment of receipt. Deeds Office search done and copy of Title Deed requested.			Apply to municipality for rates figures and valuation certificate.
Step 2	Fulfilment of Suspensive Conditions
Follow up on fulfilment of suspensive conditions. E.g. bond approval or sale of purchaser’s property.		On confirmation of fulfilment, issue cancellation instructions to seller’s bondholder, if the property is bonded.			Collect necessary documentation from seller and purchaser and draft transfer documents.
Step 3	Signature of Documents and Payment of Costs
Seller and purchaser sign transfer documents. Purchaser signs bond documents (if applicable).		Purchaser pays transfer costs. Seller pays rates and taxes etc to Conveyancer.			Conveyancer applies for transfer duty receipt and rates clearance certificate.
Step 4	Guarantees and FICA
Ensure satisfactory guarantees in place for purchase price.					Check FICA compliance
Step 5	Lodgement of Deeds at the Deeds Office
Upon receipt of transfer duty receipt, rates clearance certificate and original Title Deed, arrange with linked bond cancellation and bond attorneys for simultaneous lodgement.		Deeds lodged at the Deeds Office and allocated a barcode for tracking purposes. Examination process takes 7 – 10 working days.		On about the 7^th or 10^th working day, the deeds appear in the Prep Room and are ‘up for registration’. The Conveyancer has 5 working days to finalize any outstanding requirements and hand in for registration the next day.
Step 6	Registration
Once handed in, the deeds appear in the Execution Room the following day. Conveyancers register deeds at 10h00.		Ownership passes from seller to purchaser. Purchaser’s new bond (if applicable) is registered. Seller’s existing bond (if applicable) is cancelled.			Final accounts drawn for the seller and purchaser. Seller paid out net proceeds. Agent’s commission paid.
Step 7	Delivery of Deeds
Once registered, the deeds are numbered, captured in the Deeds Registration System and scanned. It can take some time for the Deeds Office to deliver the original Title Deed and Mortgage Bond back to the Conveyancer despite the target being 10 days. Once delivered, the Conveyancer will send the original Title Deed to the Purchaser (if unbonded) or the relevant bank (if the property is bonded) with a copy to the Purchaser.