Buying or selling property: what to have ready

An offer to purchase can become a binding sale agreement once properly accepted. The description of the property, purchase price, payment arrangements and conditions should be clear. Conditions relating to finance or the sale of another property need realistic dates and careful wording. Do not assume you can cancel without consequences if your plans change.

Occupation and ownership are not the same event. An agreement may allow occupation before registration, with occupational rent and responsibilities attached. Check what the agreement says about risk, repairs, fixtures and the handover of keys. Ask for clarification before signature; a verbal understanding is a poor substitute for a properly recorded term.

The conveyancer will request information to identify the parties and comply with applicable verification requirements. Marital status can affect who needs to sign. Companies, trusts and estates may require additional authority and supporting records. Sending clear, complete documents promptly is one practical way to keep the process moving.

A buyer should ask for an itemised estimate of transfer costs and, where relevant, bond registration costs. Transfer duty may apply depending on the transaction; some transactions involve VAT instead. Tax treatment should be checked for the specific sale rather than assumed from a general online table. The purchase price is not a complete budget.

Sellers may need to address bond cancellation arrangements, municipal clearance amounts and applicable compliance certificates. In sectional title or community scheme matters, levy clearance and scheme documentation may also be relevant. The agreement and the property's circumstances determine the responsibilities. Ask who must obtain each document and when payment will be required.

The transferring conveyancer coordinates the documents and requirements needed for lodgement. A bond attorney and cancellation attorney may also be involved, alongside banks, the municipality and the Deeds Office. Transfer duty requirements must be addressed with SARS. Delays in one part of that chain can affect the other parts, even where everyone is acting diligently.

Avoid planning an irreversible move around an unconfirmed registration date. Ask for progress updates that explain what is outstanding and who is responsible for it. If a condition deadline needs to change, get advice on a properly recorded extension before it expires. Never rely on an informal message to change a material term.

Property transactions involve significant sums and are a target for payment fraud. Independently confirm bank details through a trusted telephone number before transferring funds, especially if an email announces a last-minute change. Do not use a number supplied only in the same suspicious message. Keep records of payment and follow the conveyancer's verification process.

A careful transfer is not simply about speed. It is about the right people signing the right documents, clear financial arrangements and a lawful change of ownership. Asking questions early helps make the process more transparent and reduces avoidable uncertainty at an already busy time.