Whilst South Africa boasts one of the most secure and efficient deeds registries in the world, the process involved can often be difficult to understand and downright confusing at times. There are a few key elements that buyers and sellers should acquaint themselves with, as well as a few potential pitfalls that they should be aware of, in order to make the process as seamless and safe as possible.
The sale of a property is initiated when a prospective buyer presents a written offer to the owner of a property, to purchase their property for a specific amount. This is normally done with the assistance of an estate agent. If the owner accepts the offer, a sale agreement comes into existence between the parties. Each sale agreement will contain a host of different clauses, conditions, obligations and other provisions. It will be assumed that you have read and understood all of these prior to signing. You will be held liable for all of the commitments that you have made in the agreement, so it is important that you ensure that everything is explained to you in detail before signing.