Why you pay Conveyancers/Transfer Attorneys

Why you are paying Conveyancers/Transfer

By HouseFurb, Sep 18, 2018

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Ownership of a property is only obtained on registration of the property, into the buyer's name, in the Deeds Registry Office. A transfer attorney/conveyancer is responsible for this registration

Conveyancing is the legal process that takes place when lawful ownership is obtained of immovable property. Each time a property is sold; a new deed of transfer must be drawn up and registered. This is to ensure the security and certainty of an owner's title to his property.

There are three conveyancing attorneys involved in the property buying/selling process:

• Transfer Attorneys - transfer the property from the seller to the buyer and they represent and are appointed by the seller.
• Bond Registration Attorneys - registers the bond over the property in favour of the bank that is financing the purchase of the property and they represent the buyer and the bank granting the buyer's home loan.
• Bond Cancellation Attorneys - cancels the seller's existing home loan on the property. They represent the bank cancelling the seller's home loan and they are appointed by the bank cancelling the seller's bond

are heavily dependent on banks, city councils, revenue offices and other role players (including local deeds offices) to perform their duties by furnishing them with bond instructions, rates clearances and so on. Conveyancers and their secretaries are delayed and compromised by buyers who fail to pay deposits or rentals on time, or by both buyers and/or sellers wanting to change agreements resulting in inevitable further delays. Often it is just one party that defaults, resulting in the other pressuring the conveyancer to remedy the situation, hassles with electrical certificates and latent defects pressurise conveyancers even further

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