SABWil Conveyancing: the First-time Buyer SABWil Conveyancing: the First-time Buyer
Part 5 – Buyer’s Checklist and Closing
Buyer’s Checklist
The following is a basic checklist which you as Buyer can use as the transaction progresses to ensure you have done the necessary from your side:
- Have you applied for a bond and has it been granted? If so, have you advised the conveyancer of the name of the bond attorney?
- Have you paid the initial deposit on the purchase price timeously and ensured that it has been invested in your favour?
- Have you provided your conveyancer with your FICA documents (proof of residence, a copy of Identity document and Income tax number)?
- Have you provided the bond attorney with all their requirements?If applicable, have you advised the conveyancer of how you intend paying the balance of the purchase price if not secured by a bond?
- Have you signed the bond and transfer documents?
- Have you paid the bond and transfer costs?
- Has the purchase price been paid or secured by the due date?
- Have you paid occupational rent in accordance with the Sale agreement?
- Have you arranged to open Municipal accounts in your name / transfer the Eskom account (as applicable) into your name?
Bringing it all together
Having a basic understanding of what to look out for in the Offer to Purchase, being aware of the costs and knowing what to expect when the Transferring and/or Bond attorneys contact you, will go a long way in ensuring a smooth, hassle-free experience when buying a property. Knowing more or less how long the transfer process will take, will also facilitate your move and allow you to plan ahead of time, rather than at the last minute.
Authoress: Conveyancer – Marlene Heppes