Property transfer

[loopy100]

hi
please could anyone answer 3 questions:

1. what would been a reasonable time to transfer a property from one person to another?is their a time limit in which the transfer has to happen?what can the purchases do if it takes longer then six months because of delays from seller with council when can the offer expire?

2.we buying in a sectional title inits to get electrical compliance certificate seller need to put in meter what happens if he does not to it or get certificate?what happens

3.the transfer duty has been paid to SARS how can i get this back?and how do i go about getting money back from attorney if seller breaches contract


any help will be appreciated

Thanking you

[Foxy]

Hi Loopy100,

Wow, this sounds like a carbon copy of my experience over the last few months! I purchased a propertry in CT which underwent a huge sectional title 'metamorphasis' as it was 3 seperate titles of which we had purchased two and needed it transferred from three titles to two with common use areas etc......a mine field for the uninitiated! It was agreed (suggested by the real estate agent) at time of me making the offer that we needed the expertise of a professional qualified conveyancing attorney, not just a conveyancing clerk so it was agreed to have the Deed of Sale drawn up by a professional and not just the real estate agents standard Offer to purchase agreement.

There were a number if issues that held up my transfer. Firstly the municipal strike last year caused what I was told to be a 4-6 week backlog in transfers! Added to this there were issues when the titles were lodged at the Deeds office so my transfer schedule which was already quite generous two months blew out to five months. I also paid transfer fees and had already taken occupation of one section (the flatlet) where we had incurred costs by way of making improvements for my father inlaw to move into. I thought I'd have to walk away from it and fight the Deeds Office for my transfer fees but I was advised by the conveyancing attorney to be a little more patient and the transfer eventually took place with the property registering a full 5 months after signing the contract and 3 months after the original agreed transfer date! I will add that Deeds Office were VERY thorough and picked up on things that had to be corrected. In summary, sectional title transfers can be very complex and this can increase transfer times. I will also add that if the seller is breaching the agreement as agreed by the signed Deed of Sale then you have every right to deem the contract null and void.

However, if you are still keen and want the property then make sure that your estate agent and the conveyancing attorny's are aware of your concerns (ie: electric meter etc) as it may be worthwhile holding out. In my experience real estate agents become very bad communicators when things start going pear shaped so grab the bull by the horns, know the details of your contract and fight for it.

good luck

[loopy100]

Hi Foxy

thank you for the advice , e-mailed a stern letter to Conveyancing attorneys asking seller to remedy the breach .

will see what happens

thanks again

[Foxy]

Hi Foxy

thank you for the advice , e-mailed a stern letter to Conveyancing attorneys asking seller to remedy the breach .

will see what happens

thanks again

Good luck loopy100, I very nearly walked away from my purchase but now that it's mine and everything has worked out I am one very happy camper. I'd also copy the letter to the real estate agent becasue they stand to miss out on their commission and they don't like that! That normally gets them to shake a leg and put pressure on the seller to get their act together. Just remember that the agent is representying both of you so don't hold back on making them work for their money!

cheers
Foxy