The Deeds Office has slowed down somewhat in the last three weeks due to the public holidays and one short day of early closure before the Easter weekend. The result is that the Deeds Office is 7000 deeds behind schedule.
What can parties do to facilitate a speedier sale? And following on this question is what can parties do to facilitate a quicker registration when the Deeds Office presents deeds for registration?
We have found that transactions where Sellers are organised and have advised the Bank of their intention to cancel their bonds right from the outset of the sale process by giving the mandatory 90 days or three months’ notice, have gone a long way in registering transactions in time.
Secondly, attending to the electrical inspection, beetle inspection, plumbing inspection, gas compliance and, where applicable, electrical fence inspection from the outset of the transaction can be very beneficial to the parties. The reason for this is that if any repairs are required they can be attended to immediately and not when the Deeds Office presents the deeds for registration. Then it may be too late to attend to repairs as one only has 7 days to register once the deeds office are up (ready) for registration and contractors are potentially booked up at that point in time.
Contact Mark Witzmann at firstname.lastname@example.org or on 021 461 0065 for further details regarding the above.
This article is a general information sheet and should not be used or relied on as legal or other professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your legal adviser for specific and detailed advice.