DIFFORD UNDERWOOD INC.
ATTORNEYS, NOTARIES AND CONVEYANCERS
What Is Conveyancing?
Because property transactions can often be involved and complicated, the transfer of ownership in property can only be attended to by an Attorney who is also a Conveyancer. Conveyancers are required to write and pass a very stringent exam and because such transactions often overlap with other areas of law, it is important that the Conveyancer has knowledge relating to these other areas such as family law, wills and the administration of deceased estates, insolvency law and corporate law.
The Conveyancer (also often referred to as the Transferring Attorney) is therefore the one who is responsible for overseeing and managing the entire transfer of the property from the Seller to the Buyer.
Who Appoints The Conveyancer?
A Simple Guide To The Conveyancing Process
- The Buyer is ordinarily called upon to pay a deposit into the Trust Account of the Conveyancer Attorneys at the start of the conveyancing process. The Conveyancing Attorneys, with the consent of the Buyer, will then invest the funds in an interest bearing account for the benefit of the Buyer until the transfer is registered.
- The Buyer should ensure that there are sufficient funds available to cover the transfer costs relating to the transaction and to pay these to the Conveyancing Attorney when called upon to do so.
- Most Conveyancers will not attend to the registration of a property transaction unless and until there are sufficient funds in their Trust Account to cover the transfer costs.
- As soon as the Deed of Sale/Offer to Purchase has been accepted, the Seller (or the Seller’s Estate Agent if it is agreed that he/she will attend to same) should take steps to obtain the relevant electrical, plumbing, gas and borer beetle certificates.
- The Seller must also ensure that all rates and services on the property being sold, are paid up.
- It is in the interest of the Seller that the date that the Buyer takes occupation of the property correlates with the date that the Buyer takes ownership of the property. It the Seller agrees to the Buyer taking occupation of the property before ownership has been transferred to the Buyer, the Buyer will usually be required to pay what is known as ‘occupational rental’ to the Seller.
Why Difford Underwood Inc.?
Property transactions require us to interact and co-ordinate with several other key role players such as banks, estate agents, the municipality, the bond attorneys and the deeds office itself. Our goal is to process property transfers as timeously as possible. A normal property transfer, where all role players work efficiently and no unforeseen delays arise, usually takes between 2 – 3 months from the date upon which all suspensive conditions are complied with.
We undertake to communicate with you regularly and frequently and keep you updated as to the progress of the property transfer and attend to any of your queries.