Conveyancing is a complex legal process that involves transferring ownership of property from one party to another. In South Africa, conveyancing is governed by various laws and regulations that ensure that property transfers are conducted legally and ethically. However, there are several common pitfalls that can occur during the conveyancing process, which can delay or even derail the transaction. In this blog post, we will discuss some of the common pitfalls to avoid during the conveyancing process in the South African property context.
Failing to do a thorough property inspection
One of the most common pitfalls in the conveyancing process is failing to do a thorough property inspection. It is essential to inspect the property you wish to purchase carefully to ensure that it meets your requirements and is in good condition. Some issues to look out for during a property inspection include structural defects, dampness, plumbing and electrical issues, and the general condition of the property. Failing to do a proper inspection could result in unexpected expenses and could even cause the property sale to fall through.
Ignoring zoning regulations
Zoning regulations are laws that determine how the land can be used and developed in a particular area. It is essential to be aware of the zoning regulations in the area where the property is located to ensure that the intended use of the property is allowed. Ignoring zoning regulations could result in the property being unsuitable for the intended use, which could lead to legal issues and even financial losses.
Not disclosing all relevant information
It is crucial to disclose all relevant information about the property to the buyer during the conveyancing process. This includes any defects, disputes, or legal issues that could affect the property’s value or the buyer’s ownership rights. Failure to disclose this information could result in legal action being taken against the seller and could cause the sale to fall through. This is why it is now mandatory that a Disclosure Form be completed, by the seller, as to the condition of the property before an Offer to Purchase is signed by a purchaser.
Failing to obtain the necessary certificates
Before a property can be transferred, certain certificates must be obtained to ensure that the property meets various legal requirements. These certificates include an electrical compliance certificate, a beetle and pest certificate (not applicable to properties sold in Gauteng), and a gas compliance certificate, among others. Failing to obtain the necessary certificates could result in the sale falling through or could even result in legal action being taken against the seller.
Not understanding the costs involved
The conveyancing process involves various costs, including transfer duties, legal fees, and bond registration fees. It is essential to understand the costs involved in the conveyancing process to ensure that you are financially prepared. Failing to understand the costs involved could result in financial difficulties and could even cause the sale to fall through.
Not choosing the right conveyancer
Buying property is one of the biggest financial commitments most people make and is often the most expensive asset they own. Conveyancing is a complex legal process that requires expertise and experience. It is essential to use a qualified conveyancer to guide you through the process and ensure that all legal requirements are met. Not using a qualified conveyancer could result in legal issues and could cause the sale to fall through.
A conveyancer’s specialised knowledge enables a smooth transaction as they take responsibility for the correctness of all documents submitted to the Deeds Office. South Africans are lucky and fortunate that our deeds office property registration system is one of the best and safest in the world. Our Conveyancing department’s professional team is always available to attend to the transfer of immovable property throughout South Africa.
Pagel Schulenburg Conveyancing services include:
- Attending to property transfers, whether it be commercial property transactions, or property transfers arising from divorce matters and deceased estates
- Drafting sale agreements and other necessary documents relating thereto
- Providing general legal advice on property-related matters
The conveyancing process is a complex legal process that requires expertise and experience. Failing to avoid the common pitfalls discussed in this blog post could result in legal issues, financial losses, and the sale falling through. For all your property transactions, our firm would be more than willing to assist you in making the transfer process as smooth as possible.