Buying or selling your property
Buying or selling a property can be done through an agent, or directly between seller and buyer. If you choose to sell through an agent, they will handle everything for you – from the marketing to the final transfer of ownership. If you would rather sell or buy privately, it is best that you work with an attorney, who can help you with the legal documents and processes.
Buying a property: securing finance
Whether you are selling and hoping to buy again, or a first-time buyer, you will most likely need finance from the bank or a building society to purchase the property. Speak to your bank about the right property financing solution for you. Most banks can issue what is known as ‘pre-approval’ on a loan, subject to final approval when you find a property to buy.
For your finance application you will need to submit documentation such as a valuation of the property, to validate the loan you want to take out. A bank will run a credit check to establish if you can afford a loan;
FICA compliance is required by government. Once all documentation is submitted and the bank approves your loan, you sign the deal and submit the document to your attorney who will facilitate the property transfer into your name.
Building and renovation work
When you buy a property, you may already be thinking of making changes or additions. To avoid disappointment, consult with the local
Development Management district office to find out if your future plans for the property are possible. We will also be able to tell you about any potential heritage status that the property may have.
If you want to buy a property on which building work is taking place, it is in your interest to make sure that all building work on the property is approved. You can request that the current owner of the property provide you with proof of compliance. If you don’t do this, you are at risk, because you will be liable for any illegal building work done on the property, and you may have to submit a plan, or even risk having the built structure demolished.
Ownership transfer
The new owner(s) can either take occupation when the transfer is complete. Alternatively, they can rent or pay “occupational interest” – which will need to be part of the sales agreement.
The transfer process is facilitated by an attorney (appointed by seller) who prepares and submits all the required documentation.
Transfer documents include:
- Title deed
- Cancellation documents from bank
- Rates clearance certificate issued by the municipality
The buyer must pay transfer duty to
SARS before they will issue a transfer duty receipt. Transfer Duty is calculated on a sliding scale related to the purchase price of the property. Transfer Costs include Transfer Duty, conveyancing fees (for attorney service charge), and pro rata rates and levies against the property.
Title deeds
Once paid, the attorney will lodge the documents with the
National Deeds Office for final verification.
The kinds of documents a buyer will need to complete the purchase include:
- Deed of transfer
- Buyer’s bond information
- Transfer duty receipt from
SARS
When the Deeds Office verifies everything is in order and the
Registrar of Deeds has signed the transfer, the bank will release the bond amount and the buyer officially becomes the owner of the property.
Visit the
National Government website for more information about the title deed registration process.
get a copy of your title deed
You can request a copy of your title deed from any Deeds Office.
Deceased estates
The transfer of a property will depend on what is stated in the deceased home owner’s will and testament. If there was no will, the estate must be administered and distributed in terms of the
Intestate Succession Act, 81 of 1987.
Reporting a deceased estate
If you are the person in control or possession of the deceased person's property or will, the first thing you need to do is report the death to the Master of the High Court.
when should I report it?
The deceased estate must be reported to the Master of the High Court within 14 days of the date of death.
For more information about reporting a deceased estate, visit the
National Department of Justice website.
government housing
Our
Parow Home Ownership Office provides deceased estate support for the next of kin of deceased home-owners who purchased a delayed transfer property, a saleable rental unit or a serviced site from the City.
Master of the High Court
Telephone:
021 832 3000
Address:
Dullah omar Building
45 Castle Street
Cape Town
8000
Private sales marketing
If you are selling your property privately and want to put up directional signage (i.e. a 'For Sale' board), you will need to apply for a private seller’s permit. With your permit, you will be issued with three stickers. Each sticker must be displayed on any of the boards advertising your property until your property has been sold.
The permit is only valid for a three-month period. If the property is not sold within three months, then you will need to apply for a new permit sticker. If they become damaged, they can be replaced for free as long as you bring your original stickers with you. The permit stickers are not transferable.
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