APPROXIMATE DAYS TAKEN TO COMPLETE

AGENT AND COMPANY

PURCHASER

SELLER

ATTORNEY

BUILDING SOCIETY OR HOME OWNERSHIP SCHEME

1 - 3 Days

Collect deposit, help Purchaser to complete Mortgage Bond Application

Pays deposit, completes Bond Application if required, arranges guarantees or cash for balances of Purchase Price

Advises Attorney of sale and to expect instructions from Agent

Awaits instruction

Awaits Bond Application

4 - 7 Days

We process deal, advise all parties via copy of Agreement

Receives copy of Agreement from Agent

Receives copy of Agreement from Agent.  Must arrange for Building Society to have access to property

Receives copy of Agreement from Agent and instructions to register transfer into the Purchaser's name

Receives Purchaser's bond Application (usually from Agent).  Instructs inspectors to value & approve.  Must have access to property

10 - 20 Days

We ascertain that Bond is granted.  Verbally notify Seller and Purchaser

Receives verbal notification re granting of Bond

Receives verbal notification that Bond is granted.  Makes sure that rates and taxes are paid up

Reminds Purchaser to be ready to produce guarantees

Notifies Agent that Bond is granted and sends copies to Agent and Purchaser

21 - 30 Days

We receive written bond advice and send copies to all parties

Receives bond advice from Agent and Building Society

Official notification that Bond is granted

Receives copy of bond advice from Agent and proceeds with the conveyancing process

Awaits Purchaser's written acceptance of the Mortgage Bond which they have granted

45 - 60 Days

Depending on Terms of Agreement

Arranges for:

i) Cash or guarantees for balance of the Purchase Price

ii) Conveyancing fees and Duty

iii) Building Society Attorney's fees and Bond registration fees

Will be called by the Attorney to sign documents

Obtains:

i) Title Deeds

ii) Bond cancellation figures

iii) Rates clearance certificate

Also draws all documents required by law and presents account for Purchaser's costs.  Will expect payment in full

Building Society is now ready to register Mortgage Bond which they have granted

60 - 90 Days

We monitor progress

Has visited all Attorneys and paid all amounts due.  Will take occupation in terms of Agreement and pay occupational rental

Makes arrangements to give occupation in terms of Agreement and will receive occupational rental before registration

Having received all payments due, documents are lodged in Deeds Office.  Depending on work load, registration will be completed in 2 - 6 weeks.  Will collect occupational rental

Bond will be registered simultaneously with the registration of title deed

90 - 100 Days

We receive advice from Attorney that registration has been completed and inform the client

Receives advice from Attorney that registration has been completed.

CONGRATULATIONS!

Will receive accounting from Attorney and payment of monies due.  Will receive advice from Attorney and any monies due by Agent.

CONGRATULATIONS!

Transferring Attorney will advise all parties that registration has been completed.  Will account to Seller and pay over any monies which may be due to any party

Advises Purchaser how and when Bond repayments must be made