Why transfer & bond registration can take months

Why transfer & bond registration can take months

Property registration moves at the speed of its slowest step. Common bottlenecks:

• Loan approval (suspensive condition): Transfer can’t start until the buyer’s finance is approved, and the buyer’s bank is ready to issue guarantees;

• Bank paperwork: Buyers must supply their banks with necessary paperwork; some banks also require an own contribution before issuing guarantees;

• Cancel the seller’s bond: The existing bond must be cancelled. In order to cancell figures must be provided and guarantees issued. No figures, no guarantees, no cancellation;

• Two banks: The process normally deals with more than one bank (old bond of the seller and new bond of the purchaser) add coordination time.

• Missing documents: Lost title deeds or original security papers trigger retrieval/duplicate processes and delays;

• Supporting documents: Normally a transfer require Transfer Duty Receipts. Any delay in paying, applying and obtaining transfer duty receipts contribute to further delays;

• Building Compliance & Clearance Certificates: Transfer pauses until compliance and clearances are provided and obtained.

• Linked sales: If the buyer must sell their current property to fund the new one, those registrations must happen before or simultaneously.

With many players (banks, municipalities, Deeds Office, agents, lawyers) and steps that must happen in sequence, even smooth transactions can run 2 months. The conveyancer’s job is to line up each prerequisite, secure guarantees, and lodge only when every box is ticked - title is safe and required funds can move securely.

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