Before signature of an Offer to Purchase the purchaser should verify the following:
Zoning and allowed usage of the property
Valuation of the property
Restrictive or onerous conditions on the property
Lease agreements, duration and current rental income of the lease if applicable. A lease will have preference over the sale of the property
Current Levies, Taxes, Municipal Rates
Costs of acquiring the property
Entering into a binding Deed of Sale.
The Seller signs the offer to purchase. Once signed the Offer to Purchase becomes a binding contract (Deed of Sale). Usually, the purchaser makes an offer to purchase, which offer to purchase on acceptance becomes a binding contract between the parties. Click here to download a free comprehensive offer to purchase with a discussion and explanation of the basic conditions of an agreement of sale of fixed property. The contract must be in writing and signed by both the seller and purchaser to be valid and binding. Once signed the deed of sale must immediately be faxed or delivered to the conveyancing attorneys (transferring attorneys). Click here for a list of information and documents that must preferably be supplied to the conveyancing attorneys with the deed of sale.
Payment of deposit, securing the balance of the purchase price and investment of deposits. The purchaser pays the deposit (if applicable) to the conveyancing attorneys on-demand or in terms of the contract. Depending on the amount the deposit or purchase price is invested with the written consent of the purchaser at a Financial Institution. The interest usually accrues to the purchaser.
Applying for finance from a financial institution. (Bond origination or directly through your Financial Institution). If the contract is subject to the purchaser acquiring finance the purchaser applies for finance in person or through the use of a mortgage originator. Click here for the information and documentation needed to apply for finance or if we need to assist you in this regard. The financial institution grants approval in principle (A.I.P), values the property and instructs the bond attorneys.
Applying for Cancellation Figures.
The transferring attorneys apply for cancellation figures from the Sellers current bondholder (if any). It is essential that they have your bond account number to do this. Notice in terms of.
Valuation of the Property.
The buyer's bank sends out a valuator to assess the value of the property the buyer intends to mortgage. The Bank may also require that the property be inspected for beetle infestation (coastal properties).
Obtaining an Electrical Compliance Certificate.
The Seller must obtain an Electrical Certificate of Compliance, and supply it to the Transferring Attorneys. The Financial Institution that grants the new Bond over the property will also require such a certificate.
Final Grant of Finance
The buyer's home loan is granted, subject to the valuation and credit approval the Bank advises the Bond Attorneys to register a Bond. Panel Attorneys discussion.
Request rates Clearance Certificate.
The Transferring Attorneys also request a Clearance Certificate for the Rates and Taxes from the Local Municipality.
Drafting Transfer Documentation.
The Transfer documents are then drawn up by the Transferring Attorneys once all the information in is obtained. The Transfer Documents include:
The Transfer Duty or VAT application to the South-African Revenue Service.
The Rates & Taxes Clearance Certificate. (from the Local Municipality) or Levy.
Clearance Certificate (from the Body Corporate).
The Consent of the Bondholder (Bank which holds the current bond) to cancel the current bond.
Consents required in terms of conditions in the Title Deed (i.e. a right of first refusal waived by the interested party).
The Current original Title Deed
The new pro forma Title Deed
Requesting Guarantees
The Registering (Bond) Attorneys advise the Transferring Attorneys of the amount available for guarantees (the amount of the new bond over the property). The Transferring Attorneys then advise the Cancellation Attorneys to cancel the seller's bond, which is done upon receipt of the guarantees. Once the Transferring Attorneys receive the Title Deed and Cancellation Figures from the seller's bank, they send a copy of the Deed of Transfer and guarantee requirements to the Registering (Bond) Attorneys.
Payment of Transfer Costs.
Transfer Costs, with which the Transferring Attorneys pay the Rates and Taxes and Transfer Duty to the Receiver of Revenue and a Transfer Duty Receipt is issued.
Signature of Bond Registration Documentation
The buyer's Bond Account and Supporting Documentation are prepared by the Registering (Bond) Attorneys. Signature of Transfer Documentation. The Purchaser and Seller sign the Supporting Documentation and pays the Bond Registration Costs to the Registering (Bond) Attorneys. The Transfer Documents are signed by Purchaser and Seller, with the Transferring Attorneys
Guarantees
The necessary guarantees are prepared by the Registering (Bond) Attorneys and forwarded to the Transferring Attorneys, who prepare the bond documents for lodgement with the Deeds Office. The Transferring Attorneys then forward the guarantees to the Cancellation Attorneys, who get consent from the Bank (which currently has a bond over the property), to cancel the Seller's Bond.
Lodgement and Tracking in the office of the Registrar of Deeds
Once all the documentation is signed and all the costs are paid, the buyer's new bond documents, the transfer of the property (into the buyer's name) documents and the cancellation of the seller's bond documents are prepared by the respective attorneys and lodged in the Deeds Office - simultaneously.
The Registration Process in the Deeds Office
The Deeds Office takes approximately 7-10 working days to check all the documentation before they are ready for registration by all the attorneys on the same day.
Preparation (Prep)
Registration of the New Title Deed and supporting documentation in the office of the Registrar of Deeds.
Payment of Guarantees and Final Statement of Account
The Bank pays out the loan in accordance with the guarantees issued and the estate agent is paid the commission.
If you are selling or buying a property in South-Africa you can count on Conveyancing24.co.za to offer you a competitive written quotation. Our free written quotation will be fully itemised with no hidden costs. In just a few clicks you can receive a written conveyancing quote. Get started – Click Here
For further information or to book a consultation please contact us on:
Louwrens Koen Attorneys
Tel: 087 0010 733
E-mail: Louwrens Koen
Office 4, Second Floor, Northern Pavilion, Gate 12, Loftus Versveld, 416 Kirkness Street, Arcadia, Pretoria, South Africa
+ 27 087 0010 733
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Office 4, Second Floor, Northern Pavilion, Gate 12, Loftus Versveld, 416 Kirkness Street, Arcadia, Pretoria, South Africa
-25.7525,28.2231
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+ 27 087 0010 733
Practicing Attorney, Conveyancer and Notary Public
Pretoria, South-Africa
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Louwrens Koen was admitted as an Attorney in 1995 after completing his Blc LLb degrees from the University of Pretoria. He is also an admitted Conveyancer, Notary Public and University Guest Lecturer.
Also visit the following websites to find out more about our innovative approach and services:
• http://antenuptial24.co.za - Antenuptial Contracts explained and registered.
• http:/conveyancing24.co.za - Property Law, Conveyancing.
• http://liquidation24.co.za - Corporate Insolvency
• http://notary24.co.za - Document legalization and Notary Public services.
• http://trusts24.co.za -Registration of Family Trusts and Independent Trustee Services.
• http://wills24.co.za - Wills and Deceased estate administration explained.
1999 - 2001
2002 -2003
Property Law and Conveyancing
Trust Law and Independent Trustee Services
Notary Public Services
Document Legalisation Services
If you are selling or buying property in South-Africa you can count on Conveyancing24.co.za to offer you a competitive written quotation. Our free written quotation will be fully itemised with no hidden costs. In just a few clicks you can receive a written conveyancing quote. Get started – Click Here
For further information or to book a consultation please contact us on:
Louwrens Koen Attorneys
Tel: 087 0010 733
E-mail: Riana Fourie Louwrens Koen
A notarial bond is a limited real security which hypothecates movable property in an attempt to secure the bondholder’s ranking for the satisfaction of a debt.[138] To be valid, a notarial bond must be notarially executed, and to be enforceable against third parties, it must be registered in the Deeds Registry at the bond debtor’s place of residence or registered office within three months of execution.[139] A notarial bond can only be taken over movable property and merely grants the bondholder a right of preference (prior ranking) over unsecured creditors and hypothec holders at the debtor’s insolvency.
Generally, the bondholder does not possess the bonded property, and therefore notarial bonds usually contain “perfection clauses” allowing the bondholder to seize and dispose of the bonded property when the debtor defaults. A notarial bondholder does not acquire a security right until the bond is perfected by taking possession of the bonded property,[140] which may be construed by an attachment by a sheriff or messenger on the bondholder’s behalf.[141] In other words, the requirements for a valid pledge must be fulfilled. A bondholder may not exercise this right without a court order or the debtor’s consent; moreover, the perfection clause must be included in the bond. Notarial bonds take two forms: general and special.
Louwrens Koen Attorneys can assist with the registration and cancellation of Notarial Bonds.
For further information contact us on Tel: 087 0010 733 or This email address is being protected from spambots. You need JavaScript enabled to view it..
Protect your valuable asset from business risks and creditors.
We can assist with any property law related matter.
Get a reasonably priced written property transfer quotation.
Buying or Selling Property? Why you should consider using us to transfer your property.
When you plan to buy or sell your most important investment, you need legal assistance of the highest quality to ensure the accurate and speedy processing of your transfer. We offer professional service of the highest standard providing personalised service to our valued clients, whether buyer or seller. We know that regular feedback on the progress of your transaction is important to you, and offer instant notification of updates via sms and email.
Our Conveyancing Services include:
Approachable friendly conveyancer who will assist you through the whole purchase and transfer process
Free offer to purchase/deed of sale download service
Assistance with the completion of offer to purchasers
Written conveyancing quotations
Negotiating property transfer fee's
Free first consultation to discuss your property transfer needs
Registering the transfer of residential, sectional title, commercial, industrial, agricultural and recreational real estate
Negotiating and drafting real estate agreements
Assistance with purchasing and developing residential and commercial real estate
Preparing and submitting the registration of mortgage loans, surety and collateral bonds for institutional and private clients
Preparing and registering all notarial bonds for institutional and private clients
Preparing and registering notarial deeds (including servitudes, deeds in respect of sectional title schemes, lease agreements, notarial tie agreements)
Undertaking real estate due diligence investigations
Advising on the financial structuring of real estate transactions
Advising on real estate taxes (transfer duty, value added tax and capital gains tax)
Assisting non-resident purchasers and sellers of property in the countries in which we operate
Advising on and drafting of commercial and residential leases
Assisting with real estate sub-divisions and consolidations
Advising on the establishment and registration of townships
Advising on deceased and insolvent estate property transactions
Assisting with the planning, developing and registering of sectional title schemes, retirement villages, recreational estates and golf course estates
Assisting with commercial real estate structuring
Louwrens Koen was admitted as an Attorney in 1995 after completing his Blc LLb degrees from the University of Pretoria. He is also an admitted Conveyancer and is the author of hundreds of legal articles on the worldwide web.
Louwrens Koen Attorneys, Conveyancers and Notaries is a dynamic lawfirm, which believes that all clients must enjoy quality and cost effective service through the use of electronic media technology. We have a modern outlook on life and have modern solutions for today's problems and needs without compromising on traditional values.
Louwrens Koen was admitted as an Attorney in 1995 after completing his Blc LLb degrees from the University of Pretoria. He is also an admitted Conveyancer, Notary Public and University Guest Lecturer.
Louwrens Koen was admitted as an Attorney in 1995 after completing his Blc LLb degrees from the University of Pretoria. He is also an admitted Conveyancer, Notary Public and University Guest Lecturer.
We pride ourselves in being very aproachable.
Loftus Versveld Northern Pavillion (Gate12), 2nd Floor Office 4, 416 Kirkness Street, Arcadia, Pretoria. .
Tel 087 0010 733
Louwrens Koen
Benita De Lange
Louwrens Koen Attorneys, Conveyancers and Notaries are a dynamic law firm, which believes that all clients must enjoy quality and cost effective legal services. We have a modern outlook and have offer technological legal solutions without compromising on traditional values.
Our Conveyancing Services include:
Approachable friendly conveyancer who will assist you through the whole purchase and transfer process
Free offer to purchase/deed of sale download service
Assistance with the completion of offer to purchasers
Written conveyancing quotations
Negotiating property transfer fee's
Free first consultation to discuss your property transfer needs
Registering the transfer of residential, sectional title, commercial, industrial, agricultural and recreational real estate
Negotiating and drafting real estate agreements
Assistance with purchasing and developing residential and commercial real estate
Preparing and submitting the registration of mortgage loans, surety and collateral bonds for institutional and private clients
Preparing and registering all notarial bonds for institutional and private clients
Preparing and registering notarial deeds (including servitudes, deeds in respect of sectional title schemes, lease agreements, notarial tie agreements)
Undertaking real estate due diligence investigations
Advising on the financial structuring of real estate transactions
Advising on real estate taxes (transfer duty, value added tax and capital gains tax)
Assisting non-resident purchasers and sellers of property in the countries in which we operate
Advising on and drafting of commercial and residential leases
Assisting with real estate sub-divisions and consolidations
Advising on the establishment and registration of townships
Advising on deceased and insolvent estate property transactions
Assisting with the planning, developing and registering of sectional title schemes, retirement villages, recreational estates and golf course estates
Assisting with commercial real estate structuring
Louwrens Koen was admitted as an Attorney in 1995 after completing his Blc LLb degrees from the University of Pretoria. He is also an admitted Conveyancer and is the author of hundreds of legal articles on the worldwide web.
Also visit the following websites to find out more about our innovative approach and services:
• www.antenuptial24.co.za - Antenuptial Contracts explained and registered. Easy online registration process.
• www.conveyancing24.co.za - Property Law, Conveyancing, Sectional Title and Transfer costs explained.
• www.liquidation24.co.za - Liquidation of Companies and Close Corporations comprehensively explained. Free initial consultation.
• www.notary24.co.za – Comprehensive Notary Public, Apostille, Authentication and document legalisation services.
• www.trusts24.co.za -Trust Law explained. Easy online registration process.
Practicing Attorney, Conveyancer and Notary Public
Louwrens Koen was admitted as an Attorney in 1995 after completing his Blc LLb degrees from the University of Pretoria. He is also an admitted Conveyancer, Notary Public an University Guest Lecturer. .
Senior Conveyancing Typist
Riana is an Senior Conveyancing typist with 25 years applicable experience.
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Louwrens Koen Attorneys
Office4, Second Floor, Northern Pavilion, Loftus Versveld, 416 Kirkness Street, Arcadia, Pretoria
Beware before you sign offer to purchase.
Buying property will probably be the most important documents you will sign in your life. It is best to have a Conveyancer draft or scrutinise the Offer to Purchase before signature.
When both parties sign the offer to purchase it becomes a binding legal contract setting out the parties rights and obligations. You will sometimes hear the phrase buyer remorse or the Latin Phrases Caveat emptor or caveat scriptor.
Never be pressured to sign a contract you have not carefully scrutinized. It is not uncommon for an agent or seller to use a closing technique by pressurising the Purchaser with a statement that the purchaser must immediately sign because there are other parties also making an offer on the property at that very moment.
Reduce to writing all representations regarding the assets. Never believe salesperson talk. Always get it in writing. If not possible to incorporate in the offer to purchase independently verify the verbal facts as related.
Assess the actual market value of the property and properties in the area.
The municipal valuation of the property. Usually reflected on rates and taxes account.
Approved building plans for the property. Coverage/Zoning
Check on the availability of amenities, Schools in the area.
Check the crime statistics of the area.
Obtain a copy of the current Title Deed of the property.
Sectional Title/Security estate/Home Owners Association. Check rules, levies and costs.
Electrical and Beetle certificate.
Look at stipulated times for acquiring Finance and the issuing of Guarantees.
Deposit-Pay the deposit in the account of the transferring attorney.
Never fall for
Make sure you are 100% aware of your obligations in terms of the agreement. In certain cases, the seller could end up being entitled to as much as the whole sale price if the buyer is in breach of certain elements of the contract.
Parties to the Agreement. The identities of the parties must be ascertainable.
The seller need not be the owner; he may not yet have taken transfer of the property, but may be allowed to resell it. This must however be disclosed in the contract, as well as who the owner is, and that transfer of the property cannot be passed to the purchaser before the seller has obtained transfer himself.
If a party does not have the contractual capacity to conclude a contract, his name must still be cited, together with the identity of the person assisting him (i.e. the guardian of a minor).
If a contract is entered into on behalf of a company or close corporation (cc), the name of the company or cc must be cited, together with the name of the person authorised to conclude the contract.
If a contract is entered into on behalf of a partnership, the names of the partners must be cited.
It is always a good idea to include contact numbers, i.e. Tel, Fax, Cell & Email.
Description of Property
The best description of the property is the one contained in its title deed. If you do not have the title deed available, use your water and electricity bill to locate the erf number and quote it together with the physical address of the property.
Sale and Purchase of What? Describe all included and excluded fixtures.
When you buy a house, you in fact buy the land on which the house is situated. The house, being a permanent improvement, forms part of the land. All surface and subsurface soil, water, trees and plants on the land are by law included in the purchase. Also included are all the permanent improvements (like a house or other buildings, a borehole or a swimming pool) and all movable items, which have been permanently affixed to a house or other buildings (called permanent fixtures).
All movable accessories which are of permanent service to the immovable property and which are necessary for its effective use of exploitation are also included in the purchase of the property, unless agreed otherwise (Examples are the pool cleaning equipment or stools which go with the built-in breakfast nook.)
It is not a legal rule that certain items like stoves, carpets, light fittings, built-on cupboards, and so on, are permanent fixtures.
To avoid dispute, always specify and describe in writing on the offer to purchase document which items are included and which items are excluded in the purchase/sale, especially if you are not clear whether they are permanent improvements or movable fixtures. For example, whether the swimming pool equipment or television aerial/satellite dish are included in the purchase.
Purchase Price and Guarantees
The purchase price must either be a fixed amount (i.e. R100 000.00) or be readily ascertainable (i.e. R100.00 per square meter, including the correct size of the property). Unless agreed otherwise, the purchase price is payable in a lump sum on transfer of the property to the buyer. The guarantees referred to in the offer to purchase examples mean that the purchaser furnishes the seller with a promise from a bank that the price will be paid in full once the property is registered in the name of the purchaser (the purchaser will then pay off this 'mortgage bond' to the bank).
Defects - and the "Voetstoots" Clause
BE AWARE of certain defect clauses. In certain instances, the buyer is protected against severe defects discovered after the transfer on a property has gone through. The law will attempt to determine whether the defect is patent or latent, and on these grounds, make a ruling as to who is responsible for the cost of repair.
A patent defect is clearly visible upon inspection, like a crack in a wall or window, and it should be stated in the offer to purchase who will be responsible for fixing (or replacing) the defect.
A latent defect is not so easily picked up on superficial inspection, for example a faulty geyser, a damp area concealed behind furniture or fresh paint or a leaking roof.
The seller is responsible for all latent defects in the property for three years from the date of sale of the property. The seller should supply all warranties and documentation of repairs and maintenance on transfer of the property. At the same token, the buyer must ensure that he is aware of all patent and latent flaws.
As a result of the seller's responsibility for latent defects, sellers will usually stipulate that the property is for sale 'as is' ('Voetstoots'). The seller is still responsible for any deliberately concealed latent flaw or defect. The burden of proving that the seller knows or ought to have known about the latent defect rests on the buyer. Depending on the circumstances, (and if the buyer can prove that the seller knows or ought to have known about the defect), the buyer can cancel the contract and/or claim repayment of a portion of the purchase price when a latent defect is present.
All faults that have been detected should be recorded in the offer to purchase document along with details regarding which party will be responsible for their repair. The purchaser can insist on certain guarantees. For example, under the clause section 'Special Conditions', the buyer can stipulate that, "The Seller hereby warrants that the swimming pool on the Property sold is not leaking at the date of signature hereof by him". To protect yourself, as the purchaser it may be worth having a property inspection company inspect the property. The cost of the inspection will be for the purchasers account.
Risk, Rates, Rental Income and Ownership
The seller is responsible for any loss or damage caused by him (or his children or employees and so on) before the purchaser takes transfer. The agreement can be altered to state that the buyer is responsible for any loss or damage of any kind whatsoever from the date that the buyer takes occupation of the property. In the case of accidental damage or damage due to 'acts of God' the buyer carries the risk from the date of conclusion of a contract, provided the contract is not subject to suspensive conditions, in which case the risk remains with the seller. If the conditions are fulfilled, the risk is deemed to have passed to the buyer.
Usually from the date of transfer the buyer will have all benefits attached to the property and all the risk of the property will pass to the buyer. The buyer will be liable for all rates and taxes and/or levies payable on the property from date of transfer and the buyer will have to refund to the seller, any amounts paid upfront in respect of the rates and taxes and/or levies on the property.
The buyer will have the benefits of any rental income on the property, (if the property is let to a third party at the time of purchase), only once transfer takes place, although this can be regulated contractually between the parties. Ownership of the property takes place on transfer and not on occupation.
Registration and Transfer Fees
The purchaser will be liable for payment of transfer duty and all costs and fees in connection with the registration of the bond and transfer of the property on demand by the conveyancing attorney.
Estate Agents' Commission
The Seller will be liable for the payment of any estate agents' commission (if applicable) on demand by the conveyancing attorney, once the registration and transfer has taken place.
Occupation and Occupational Interest
Occupational Interest is more commonly known as Occupational Rent. The occupational interest can either be a fixed amount (usually it is calculated as either the amount of the seller's bond repayment on the property or 1% of the purchase price) or an amount subject to an escalation if registration of transfer has not taken place within a certain period (this may apply when the occupational interest amount is less than the seller's bond repayments). If there is uncertainty about the occupation date, it is best to record in writing the latest date upon which the purchaser is willing to take occupation of the property.
Domicilia Citandi Et Executandi
Domicilia Citandi Et Executandi, also referred to as Domicilium, is the physical address you give for any legal documents and notices to be served to you. If you have been sent a document or notice to this address, you will be deemed to have received it, even if you did not in fact receive it. This may not be a PO Box or Private Bag address.
Purchaser's Cooling Off Right
Legally the Cooling Off Right does NOT apply if:
The property is intended to be used for anything other than a residential property;
It is agricultural land;
The purchase price of the property exceeds R 250 000.00 (i.e. from R 250 001.00 and more);
The purchaser is not a natural person (i.e. a trust, company, close corporation, etc.);
The property is purchased at a publicly advertised auction;
The seller and purchaser concerned have previously entered into a sale agreement of the property on substantially the same terms;
The purchaser has nominated or appointed another person to take over his rights and obligations in terms of the offer or sale agreement in question;
The purchaser bought the property by the exercise of an option which was open for a period of at least five working days.
No person will be entitled to any remuneration payable if the purchaser exercises his Cooling Off Right. The buyer cannot waive (give up) his Cooling Off Right.
"Escape" Clause. Suspensive Conditions
In certain cases the seller could include what is generally known as an "Escape Clause". When the buyer signs the offer to purchase subject to the buyer selling his existing property or obtaining a home loan for the purchase amount, this kind of condition usually has a time frame in which it needs to be either met or waived, it could be anything between 15 and 60 days. If the seller includes an "escape" clause, it would mean that the seller has the right to accept another offer on the property only if the second offer is "clean," with no such conditions attached. In other words, he can only accept an offer from someone who does not have another property to sell or does not need to get finance from a bank to pay for this property.
If the seller does accept such a second offer after the first offer, he must give the first buyer time (usually 2 days) in which to either meet the suspensive conditions or waive them (waive meaning: continue with the transaction without any condition of selling another property or getting a bond) within that period.
Breach of Contract
A breach of contract exists when one or all of the parties to the contract not to do what was agreed upon in the offer to purchase. Examples of circumstances are:
If the buyer does not pay his deposit to the seller's attorneys in time as agreed upon in the offer to purchase;
If the buyer does not present the necessary guarantees from his bank in time as agreed upon;
If the buyer does not make any effort to get finance for the property, and this was agreed upon in the offer to purchase, to do so;
If either the buyer or seller fails to sign the necessary documentation to effect transfer of the property upon request to do so by the conveyancers.
If you are selling or buying property in South-Africa you can count on Conveyancing24.co.za to offer you a competitive written quotation. Our free written quotation will be fully itemised with no hidden costs. In just a few clicks you can receive a written conveyancing quote. Get started – Click Here
For further information or to book a consultation please contact us on:
Louwrens Koen Attorneys
Tel: 087 0010 733
E-mail: Riana Fourie Louwrens Koen
What is Conveyancing?
The term "CONVEYANCING" describes the legal process whereby a person, company, close corporation or trust becomes the registered and lawful owner of fixed property and ensures that such ownership cannot be challenged. It also encompasses the process of the registration of mortgage bonds. (See our brochure on "Mortgage Bonds").
WHAT or Who IS AN CONVEYANCER?
A Conveyancer is an attorney who also passed the national conveyancing examination and by law is the only person who can register fixed property transfers. This is necessary to ensure the protection of the various interests the parties have in the transaction and to maintain the high standard of land registration.
WHO APPOINTS A CONVEYANCER?
The seller usually appoints a Conveyancer to attend to the transfer of fixed property, although this, like other aspects of a sale agreement, can be varied
by negotiation between the parties.
WHAT IS THE FIRST STEP IN THE SALE OF FIXED PROPERTY?
The first requirement is a valid agreement of sale. This is a written agreement which is signed by both the purchaser and seller (and by the sellers’ spouse
in cases where the parties are married in community of property or account to the laws of a foreign country). A written "Offer to Purchase" signed by a
purchaser and accepted by a seller also constitutes a binding agreement. An oral contract for the sale of fixed property is invalid.
WHAT ARE THE TERMS OF SALE TO BE CONSIDERED BY THE SELLER (AND PURCHASER)?
The name, address, identity numbers and marital status of both buyer and seller, (e.g. married in or out of community of property, or by way of foreign marriage);
WHAT HAPPENS NEXT?
The Deed of Sale is handed to the appointed Conveyancer, who will draft the necessary documents. Both the seller and the purchaser will be required to call at the offices of the Conveyancer to sign the necessary documents. The documents to be signed include the following:
A Power of Attorney to Pass Transfer
This document must be signed by the seller as it empowers the Conveyancer to transfer the property on his/her behalf.
Declaration in respect of Marital Status, Identity Number and Insolvency
Both purchaser and seller must depose to an affidavit wherein they state their marital
status, identity number and confirm their solvency.
Transfer Duty and Value Added Tax (VAT) Declaration
Transfer duty is a form of tax payable, normally by the purchaser, to the Government and is calculated on the value of the property. Both the purchaser and seller have to sign transfer duty declarations to be furnished to the Receiver of Revenue in which they affirm the purchase price to be paid. VAT is not usually payable on transactions between private purchasers and sellers but will be if the seller is a registered vendor under the VAT Act. Where the seller is registered as a vendor, he will sign a VAT declaration. If VAT is payable on the purchase price no transfer duty will be payable.
Bond Documents
If the purchaser obtains a loan from a financial institution, the lender will require the purchaser to register a bond over the fixed property to secure the loan. To enable the Conveyancer appointed by the financial institution to prepare the necessary documentation, the purchaser must submit his/her identity document, marriage certificate and, if applicable, Antenuptial Contract to the Conveyancer concerned.
WHAT ARE THE COSTS INVOLVED?
The costs relating to the transfer of the fixed property fall into three categories.
Rates and Levies
Whilst not a cost of transfer, rates and levies must be paid in full on the date of transfer. A pro rata (normally to date of possession) portion of the charges payable on the fixed property to the relevant local authority or the levies payable to the Body Corporate in the case of a sectional title unit.
Fees
The Conveyancer's fees are prescribed by a tariff and are calculated on a sliding scale based on the purchase price. The purchaser is normally liable for payment thereof together with VAT thereon.
Bond Registration Costs
Where a bond is to be registered, stamp duty is payable to the Receiver of Revenue, the amount whereof depends on the amount of the bond. The Conveyancer's fee is calculated on a sliding scale based on the amount of the bond and is payable by the purchaser to the Conveyancer who registers the bond together with VAT thereon.
Bond Cancellation Costs
If the seller has a bond registered over his/her property, this must be cancelled on transfer and the seller is responsible for payment of the Conveyancer's fee
for cancellation together with VAT thereon. Once the documents have been signed by the purchaser and the seller, and the transfer costs, transfer duty and rates and levies have been paid, the Conveyancer may proceed with the registration of transfer of the property in the Deeds Office.
Click here to download a comprehensive Offer to Purchase/Deed of Sale/Koopkontrak van grond
Click here for a writer conveyancing quotation
For further information please contact us on:
Telephone: 012 343 0267 ext 4
Fax: 012 343 0269
Cell: 0828805646
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Office 4, Second Floor, Northern Pavilion, Loftus Versveld, 416 Kirkness Street, Arcadia, Pretoria.
CUSTOMER PRIVACY NOTICE
This Notice explains how we obtain, use and disclose your personal information, as is required by the Protection of Personal Information Act (“POPI”).
At Louwrens Koen Attorneys we are committed to protecting your privacy and to ensure that your personal information is collected and used properly, lawfully and transparently.
This Notice sets out:
• Who we are
• What information we collect
• To whom we disclose your information
• How we safeguard your information
• Your rights to access and correction of information
• Changes to this Notice
• How to contact us
1. Who we are
In this Notice, “Louwrens Koen Attorneys” or “we” refers to one or more of the websites in Louwrens Koen Group that operate in South Africa.
2. The information we collect
We collect and process your personal information mainly to provide you with access to our services, to help us improve our offerings to you and for certain other purposes explained below.
The type of information we collect will depend on the purpose for which it is collected and used. We will only collect information that we need for that purpose.
We collect information directly from you where you provide us with your personal details, for example when you purchase services from us or when you submit enquiries to us or contact us. Where possible, we will inform you what information you are required to provide to us and what information is optional.
We also collect information about you from other sources as explained below.
Website usage information is collected using “cookies” which allows us to collect standard internet visitor usage information.
3. How we use your information
We will use your personal information only for the purposes for which it was collected or agreed with you, for example:
• To provide our services to you, to carry out the transaction you requested and to maintain our relationship;
• To confirm and verify your identity or to verify that you are an authorised user for security purposes;
• For the detection and prevention of fraud, crime, money laundering or other malpractice;
• To conduct market or customer satisfaction research or for statistical analysis;
• For audit and record keeping purposes;
• In connection with legal proceedings.
We will also use your personal information to comply with legal and regulatory requirements or industry codes to which we subscribe or which apply to us, or when it is otherwise allowed by law.
4. Disclosure of information
We may disclose your personal information to our service providers who are involved in the delivery of services to you. We have agreements in place to ensure that they comply with these privacy terms.
We may also disclose your information:
• Where we have a duty or a right to disclose in terms of law or industry codes;
• Where we believe it is necessary to protect our rights.
5. Information Security
We are legally obliged to provide adequate protection for the personal information we hold and to stop unauthorised access and use of personal information. We will, on an ongoing basis, continue to review our security controls and related processes to ensure that your personal information is secure.
Our security policies and procedures cover:
• Physical security;
• Computer and network security;
• Access to personal information;
• Secure communications;
• Security in contracting out activities or functions;
• Retention and disposal of information;
• Acceptable usage of personal information;
• Governance and regulatory issues;
• Monitoring access and usage of private information;
• Investigating and reacting to security incidents.
When we contract with third parties, we impose appropriate security, privacy and confidentiality obligations on them to ensure that personal information that we remain responsible for, is kept secure. We may need to transfer your personal information to another country for processing or storage. We will ensure that anyone to whom we pass your personal information agrees to treat your information with the same level of protection as we are obliged to.
6. Your Rights: Access to information
You have the right to request a copy of the personal information we hold about you. To do this, simply click here to review your personal information or contact us at the numbers/addresses listed below and specify what information you would like. We will take all reasonable steps to confirm your identity before providing details of your personal information.
Please note that any such access request may be subject to a payment of a legally allowable fee.
7. Correction of your information
You have the right to ask us to update, correct or delete your personal information. You may do this by clicking here to review and change your personal information or by contacting us at the numbers/addresses provided below.
We will take all reasonable steps to confirm your identity before making changes to personal information we may hold about you.
8. Changes to this Notice
Please note that we may amend this Notice from time to time. Please check this website periodically to inform yourself of any changes.
9. How to contact us
If you have questions about this Notice or believe we have not adhered to it, or need further information about our privacy practices or wish to give or withdraw consent, exercise preferences or access or correct your personal information, please contact us at the following numbers/addresses:
Louwrens Koen Attorneys
Physical Address: Park Street 755, Arcad8ia, Pretoria, Gauteng Province, South Africa
Telephone: +27(0)12 343 0267 ext 4
Fax: +27(0)862764377
About Louwrens Koen Attorneys Conveyancing Services:
Louwrens Koen Attorneys, Conveyancers and Notaries are a dynamic law firm, which believes that all clients must enjoy quality and cost effective legal services. We have a modern outlook and have offer technological legal solutions without compromising on traditional values.
Our Conveyancing Services include:
Approachable friendly conveyancer who will assist you through the whole purchase and transfer process
Free offer to purchase/deed of sale download service
Assistance with the completion of offer to purchasers
Written conveyancing quotations
Negotiating property transfer fee's
Free first consultation to discuss your property transfer needs
Registering the transfer of residential, sectional title, commercial, industrial, agricultural and recreational real estate
Negotiating and drafting real estate agreements
Assistance with purchasing and developing residential and commercial real estate
Preparing and submitting the registration of mortgage loans, surety and collateral bonds for institutional and private clients
Preparing and registering all notarial bonds for institutional and private clients
Preparing and registering notarial deeds (including servitudes, deeds in respect of sectional title schemes, lease agreements, notarial tie agreements)
Undertaking real estate due diligence investigations
Advising on the financial structuring of real estate transactions
Advising on real estate taxes (transfer duty, value added tax and capital gains tax)
Assisting non-resident purchasers and sellers of property in the countries in which we operate
Advising on and drafting of commercial and residential leases
Assisting with real estate sub-divisions and consolidations
Advising on the establishment and registration of townships
Advising on deceased and insolvent estate property transactions
Assisting with the planning, developing and registering of sectional title schemes, retirement villages, recreational estates and golf course estates
Assisting with commercial real estate structuring
Louwrens Koen was admitted as an Attorney in 1995 after completing his Blc LLb degrees from the University of Pretoria. He is also an admitted Conveyancer and is the author of hundreds of legal articles on the worldwide web.
Also visit the following websites to find out more about our innovative approach and services:
• www.antenuptial24.co.za - Antenuptial Contracts explained and registered. Easy online registration process.
• www.conveyancing24.co.za - Property Law, Conveyancing, Sectional Title and Transfer costs explained.
• www.liquidation24.co.za - Liquidation of Companies and Close Corporations comprehensively explained. Free initial consultation.
• www.notary24.co.za – Comprehensive Notary Public, Apostille, Authentication and document legalisation services.
• www.trusts24.co.za -Trust Law explained. Easy online registration process.
Louwrens Koen can be contacted on:
Telephone: 012 343 0267
Fax: 0862764377
Cell: 0828805646
Postal: Po Box 14382, Hatfield 0028
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website http://www.louwrenskoen.co.za
Deeds Office Lodgement Number 15
44. Rectification of title by endorsement.—(1) If rectification of title is required in respect of any one piece of land in consequence of a survey or re-survey of such land or of the correction of any error in the diagram thereof under the Land Survey Act, 1997, the registrar may, on written application by the owner of the land accompanied by the title deed and the new or the corrected diagram thereof, any bond thereon and any registered deed of lease or other registered deed whereby any real right therein is held by any other person and the written consent of the holder of such bond, lease or right, endorse on the aforesaid deed a description of the land according to the new or corrected diagram, which description shall supersede the description already appearing in the aforesaid deeds.
(2) If a new diagram is produced the registrar shall in making the said endorsement substitute the new diagram for the old one.
(3) . . . . . .
[Sub-s. (3) added by s. 16 of Act No. 87 of 1965 and repealed by s. 53 of Act No. 24 of 2003 (as substituted by s. 1 of Act No. 11 of 2005).]
35. Certificate of registered title of aggregate share.—Any person who is, by virtue of more than one title deed, the owner of undivided shares in one or more than one piece of land may, subject to the provisions of section thirty-seven, obtain a certificate of registered title in respect of his aggregate share in the land: Provided that if there are two or more pieces of land the several pieces of land or shares therein shall be described in separate paragraphs.