We make it happen!

St ep 2: Complet e t he Offer t o Purchase

St ep 3: Financing t he Propert y

St ep 1: House Hunt ing

realBUYERS
Avoid mistakes when buying a
property
AVOID MISTAKES WHEN BUYING A PROPERTY
At RealNet we recognize your dreams and aspirations when buying a home as investing in a property is most likely the
largest single investment you will ever make.
RealNets expertise enables you to achieve successful home buying whereby we will guide you in all aspects making you
feel at home!
Think about your future needs and make a list of what your home should offer; differentate between what are
necessities and what can be considered to be a luxury
Decide on the location of the property, i.e. preferred area, close to work, hospitals, shops, schools, easy
access to main roads, etc
Is the property located in a good neighbourhood providing necessary security
Assess your affordability including the bond repayments, rates and taxes, electricity, water, levy, etc.
Calculate additional costs (not included in the purchase price), such as Transfer, Bond and Attorney Costs
Once you have decided on a property your RealNet Agent will assist you in completing an Offer to Purchase
The Offer to Purchase will be submitted to the Seller. The Offer to Purchase is not binding until it has been
accepted and signed by the Seller which then forms the frst step in the registration process
Your RealNet agent will inform you of the necessary information and forms that need to accompany the Offer
to Purchase
The Offer to Purchase will dictate the fnancing of the transaction i.e. cash and/or private loan or a deposit
and bond
The Buyer may make use of a Bond Originator or directly approach a Banking Institution / Personal Banker
Once all suspensive conditions have been met, you can proceed to the next step
5 STEPS FOR BUYERS:
We make it happen!

St ep 5: Lodgement at t he Deeds Ofce

realBUYERS
Avoid mistakes when buying a
property
OBTAIN CANCELLATION FIGURES
Is the amount required by the existing bank/bondholder enough to settle or cancel the existing bond over the
property. The seller is obligated, in terms of his loan agreement with the bank, to give the bank 90 days notice
of his intent to cancel the bond. Non compliance will result in the bank charging extra penalty interest from
the seller
OBTAIN A TAX CLEARANCE CERTIFICATE FROM THE SELLER
OBTAIN CLEARANCE CERTIFICATE
The local authority/city council issues a clearance certifcate whereby all rates and taxes on the subject
property has been paid up to date. This certifcate is valid for a period of 2 months after date of issue
TRANSFER DUTY RECEIPT
In terms of the Transfer Duty Act a purchaser is obligated to pay a tax called transfer duty whenever he
acquires unmovable property. This tax is based on the purchase price of which the frst R 500 000 is exempt
ELECTRICAL COMPLIANCE CERTIFICATE
An Electrical Compliance Certifcate is issued by an accredited electrician that certifes that the electrical
installation of the property to be purchased is safe for the occupants of the property. This certifcate is only
valid for two years from date of issue and only if no alterations were made to the installation in the interim.
The seller of the property is responsible to obtain such a certifcate
Once all of the necessary documentation and/or documents have been collected and verifed, the transaction
is ready for lodgement at the Deeds Offce
The Transferring Attorney attends to the registration of the property from the Seller onto the name of the
Purchaser while the Bond Attorney attends to the cancellation of the Sellers bond as well as the registration
of the new bond
All documentation is examined by the Deeds Offce and if found compliant, it is placed on preparation. This
normally takes 10 14 working days
Once all documentation on preparation is cleared by the Deeds Offce, registration takes place on the
following working day

St ep 4: Inst ruct ion t o t he Transferring At t orney

The signed Offer to Purchase should be submitted to the Transferring Attorney
The Transferring Attorney will manage the process further. This entails obtaining the following information
and/or documentation to enable the transaction to be lodged at the Deeds Offce