Once your home credit has been affirmed, it's a great opportunity to begin the ball rolling and get your property enlisted in your name. Despite the fact that the property enrollment process may appear to be extensive, the accompanying advances will enable you to comprehend the procedure.

Once your Offer to Purchase has been acepted and the Bank has affirmed your credit, the house then needs to move from the name of the Seller into the name of the Buyer.

To begin, the 7 key individuals expected to finish the procedure are:

1. The Seller

2. You, the Buyer

3. A Transfer Attorney

4. A Bond Cancellation Attorney

5. A Bond Registration Attorney

6. The Registrar of Deeds

7. The Estate Agent and the Mortgage Broker are for the most part included from the get-go.

Stage 1: The exchange of property

The house needs to move from the name of the Seller into the name of the Buyer. To begin with, the Transfer Attorney, who is named by the Seller, readies every one of the records required for enrolling the property exchange. The most critical archives incorporate the Title Deed and crossing out figures from the Bank, and a rates freedom endorsement which fills in as evidence of installment for rates and expenses from the pertinent region. Once these records are prepared, the district will furnish the Transfer Attorney with a rates freedom testament and SARS will issue an exchange obligation receipt subsequent to accepting installment.

In the event that a property is worth more than R600 000 then the Buyer should pay the required exchange obligation on this house. The obligation is ascertained on a sliding scale as per the price tag of the house and is payable to SARS. At this stage the Buyer is required to pay the star forma account which is a gauge of the exchange costs. This gauge comprises of the exchange obligation specified above, conveyancing expenses charged by the Transfer Attorney and ace rata rates or demands.

Stage 2: Preparing the bond documentation

The Bond Attorney presently readies the bond documentation with the Buyer. This incorporates setting up the Buyer's home advance record. The Buyer at that point signs these reports and pays every one of the costs required to the Bond Attorney.

Stage 3: Cancelling the bond

The Bond Attorney will present these archives and assurances to the Transfer Attorney for accommodation to the Deeds Office; be that as it may, the Bond Attorney and Transfer Attorney might be a similar individual. Duplicates of these reports and certifications will likewise be given to the Cancellation Attorney, who utilizes them to pick up assent from the Bank for dropping of the Seller's bond.

Stage 4: The Deeds Office

When every one of the reports have been marked and every one of the expenses have been paid, the data will be at the same time stopped at the Deeds Office by the applicable Attorneys. These reports include: Deed of Transfer, Buyer's bond data and exchange obligation receipt from the Receiver of Revenue.

The Deeds Office will take 2 – 3 weeks to check all submitted records relying upon the different conditions; once total, all Attorneys included will be advised. The last advance of bond enrollment will happen around the same time.

Stage 6: Payment of the home credit

Upon the arrival of enrollment the Bank pays out the sum required for the home credit and the Buyer authoritatively turns into the proprietor of the property. This whole enrollment process commonly takes something like 3 weeks to finish.

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