Most of what happens now is legal process and requirements of law. Take the time to browse through the legal pages we have provided to get a better understanding of the steps that will now happen.
From the seller and buyer’s side however they must immediately supply necessary documents to their agent or directly to the Conveyancer who will be handling the transaction. Go here to see the documents required from you.
It is also important to immediately ;
- Arrange for an Electrical Wiring Certificate
- Set aside the necessary funds to pay agreed to costs – the sooner the conveyancers have this in their trust account the better.
- Arrange for the full inspection of the home if required
- Finalise any repairs to your home that have to be done per the agreement
- Begin planning your move – visit the section on Moving to get full guidance and help
- Liaise with the buyer regarding viewing times for measurements etc as well as an agreed upon moving date if possible and if this will be different to the registration date.
CONVEYANCING PROCESS
Once deposits have been paid, arrangements made for costs and all paperwork is received, the legal eagles will draft all necessary documents and prepare for submission to the deeds office.
You will be called in to sign all of these documents at the lawyer’s offices and this will include your bond cancellation documents for the bank
Once you have signed all documents they will submit them and from there on in, it will take around two weeks for the property to get registered in your name. Overall, from date of original offer being accepted you are probably looking at a period of 80 to 90 days.
In these days of automation and technology, this process happens faster and faster.
To get a step by step guide to this whole process go to the Legal section.
THINGS TO CONSIDER
- The buyer might well want to come back and view again. Just out of excitement or to start picturing their furniture in place. Or maybe to start measuring for curtains. Be patient with them but make sure all appointments are made through the agent.
- If the buyer has made an offer subject to the making certain repairs themselves, the contractors might need access to prepare quotes and estimates.
- The agent will continue marketing the property until all suspensive conditions have been met. So keep the home looking spotless for ongoing viewings.
- Don't delay getting your own things in order - the weeks fly by and before you know it registration will be upon you. You do not want to be caught unprepared.
- It
might suit both you and the buyer for them to take early occupancy -
but we alwaysl recommend that NO occupation takes place until all
suspensive conditions have been met. You do not want buyers moving
in - then not getting their bond - and squatting in your home!
STAY IN TOUCH WITH YOUR AGENT
Your agent’s job is by far not yet over, once you have signed the offer to purchase and they must now begin the monitoring process for you. Make sure they understand that you expect regular report backs as to how far the deal is progressing.
They should be in regular contact with the buyer or their agent, as well as legal role players and providing you with feedback as to how things are progressing, what the hold ups are and if there is anything required from you.
Especially in the last few days until registration, (which is the date title to the property changes), when you will be planning you final move date, they need to be on top of the situation for you. Very importantly, if registration is going to happen in the middle of a month or at an inconvenient date, make arrangement ahead of time with the buyer as well as your new property, as to when you will move in if it is not exactly on registration date.
Otherwise all you have to do is relax - and do not be hesitant about nagging both your conveyancer and agent for feedback
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