The ABC of property transfers | How to limit delays in the transfer process

Writer: LB Vorster.

In any property transaction the purchaser, to a large extent, holds the key to a swift completion of the entire transfer process. Unfortunately, should it be the intention, a purchaser is well positioned to delay the process if a deed of sale does not prevent, or at least limit, potential delaying tactics.

Fortunately the majority of purchasers are keen to co-operate and contribute towards the speedy completion of the transfer. It does not take more than a couple of minutes for the purchaser to perform the required actions, such as scanning and emailing a couple of pages in order to comply with FICA, paying the agreed deposit, reading and signing standard transfer documents (or bond documents) or paying the relevant transfer costs (or bond registration costs).

The obvious solution to avoid delays is of course to comprehensively describe the various obligations of the purchaser in the deed of sale and to ensure that it adequately empowers the seller to enforce strict compliance with each obligation within a specified time frame, i.e. the shortest possible time whilst at the same time still being reasonable in order to be legally enforceable.

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