What could delay the Transfer process?

  • The seller could be in arrears on the installments of the existing bond, and could have difficulty in coming up with the money.
  • Either/both the buyer and seller could disclose insufficient or incorrect essential information.
  • Any of the parties involved could delay the provision of documentation, guarantees, certificates, employee subsidy documents and so on, on time.
  • A delay in signatures and/or payments of conveyancing documents/costs.
  • Delay by the buyer in obtaining government capital subsidy approval/employee subsidy documents for new bondholders and failure to comply with other requirements of the bank.
  • Special consents in terms of the title deed may need to be obtained.

Article Written by Marie Van Coller 
Marie Van Coller Attorneys & Conveyancers
http://www.marievancoller.co.za/

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