Property Sales Service | CSi Property Group

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Sales

Our Sales Team offers a full range of Real Estate services. We specialize in high quality Sectional and Full Title properties, as well as
Affordable, Traditional and Retirement Village housing.

We provide our clients with the valuable information and facts they require before making the decision to purchase a dream home.
Due to our unique Perspective, Knowledge and Understanding of the Property Market, we have been able to develop a steady growing
clientele we can serve and provide both up to date information and understanding of the market to assist you in realizing all your
property requirements. Our core principles of Ownership, Integrity, Team Work and Efficiency have cemented us as market leader. We
look forward to being of service to you.

We are registered with the necessary authorities such as the Estate Agency Affairs Board and are already operational in various areas.

Services

We offer our clients expert advice and service on
the following products:

Free Market Appraisal
Free Valuation Reports
Qualifying Prospective Buyers
Arranging of Legal Documentation
Correspondence with Conveyance Attorneys
Viewing of Properties
Arranging of Bond Finance

We look forward to being of service to you in any way possible and is not bound by any type of residential property.
Email: info@csisales.co.za

Seller's Information Guide

The Seller's Responsibilities:

FICA

Provide the Conveyancer with copies of personal/close corporation/company/trust documents, whichever is applicable: Income Tax Number, ID Document/s, Existing Bond Details, Rates and Levy accounts, Proof of current residential address (Not older than 3 months).

Deeds Office Fee

This is to confirm that the Seller is the registered owner of the Property.

Rates and Taxes

When a property is sold, it is necessary to obtain a Rates Clearance Certificate from the council valid for between 4 and 5 months in advance. The transferring attorney will apply for rates clearance figures from the council on your behalf and will inform you of the amount due. Should there be any amount in arrears it will be calculated into the clearance figures. Payment must be made to the transferring attorney as soon as possible after receiving the figures. Should there be proceeds available in your sale, this amount may be bridged from your proceeds at minimal interest. If the property registers before the rates clearance certificate lapses, the council will refund you. It is important to know that the council can only finalize your account after the purchaser has opened an account and paid the deposit to the council. If the purchaser does not pay his deposit, the council can't close your account and refund any credit which may be due to you.

Agent's Commission

At the start of the marketing campaign it is important to discuss the estate agent fee as some agent's fees may vary according to certain circumstances. An agent's commission is based on a percentage of the selling price of the property and therefore, when a property is sold at less than the asking price, the agent's commission is automatically reduced.

Water and Electricity

Arrange final readings for Water and Electricity at the appropriate authority after transfer.

Service Providers

Make arrangements regarding the Telephone, Alarm/Security Company, Garden service and change of address.

FICA Fee

This is to verify all parties to a transaction in terms of section 29 of the Financial Intelligence Centre Act ("FICA"). For an individual, these documents include ID, proof of residence, proof of marital status, and proof of income tax number.

Electrical Compliance Certificate (ECC)

Arrange and obtain the Electrical Compliance Certificate, Gas Certificate and Electric Fence Certificate if applicable. Each transfer requires an Electrical Compliance Certificate over the property in transfer. Each certificate is valid for 2 years if no alternations were made to the property from date of issue. Should the purchaser bond the property, the Bond Attorneys will require this certificate soonest as the bank will not give a consent to proceed to lodge without an ECC. We advise that the ECC is arranged shortly after the purchaser has obtained a bond as this can cause a delay in the transfer process.

Bond Cancellation Fee

Cancellation Fee for the Bond Cancellation Attorneys who will act on behalf of the existing Mortgage Bond holder to cancel the existing Bond over the Property (this is only if there is a bond over the property). We strongly advise the seller to inform the bank in writing of intent to cancel the bond the moment that the seller has signed a mandate with the agent to sell the property. This is to avoid a cancellation penalty interest owed to the bank. The penalty period is calculated over 90 days. Should you not inform the bank, your cancellation period will start on the day that your bank sends the instruction to the cancellation attorneys. It is very important for you to maintain your monthly bond repayments until registration. You will be requested to complete a refund sheet to allow the bank to refund you for any credit after registration.

Transfer Duty

The transferring attorney needs to apply for a Transfer Duty Receipt from SARS. Please make sure your tax returns and details with SARS are up to date, as any incomplete/outstanding returns or incorrect details will cause a delay in receiving the Transfer Duty Receipt.

Access Bonds and Flexy Bonds

It is important to pay your costs as soon as possible after being requested by the transferring and bond attorney (if applicable).

Paying of Costs

It is important to pay your costs as soon as possible after being requested by the transferring and bond attorney (if applicable). Agent's Commission At the start of the marketing campaign it is important to discuss the estate agent fee as some agent's fees may vary according to certain circumstances. An agent's commission is based on a percentage of the selling price of the property and therefore, when a property is sold at less than the asking price, the agent's commission is automatically reduced.

Rates Clearance Figures, Certificate and Refund

Rate Clearance Figures (four to five months in advance) due to the Municipality; as well as the fee to obtain such figures. Each Deeds Office requires a Rates Clearance Certificate to confirm that all amounts owing to the Local Municipality have been paid in full before they transfer the property into the name of the new owner.

Purchaser's Information Guide

FICA

Provide the Conveyancer with copies of personal/close corporation/company/trust documents, whichever is applicable: Income Tax Number, ID Document/s, Proof of current residential address (Not older than 3 months).

Deposit

If you have a deposit, which will form part of the purchase price, your deposit must paid by a certain date to the transferring attorney as stipulated in the agreement of sale. The deposit will be invested on your behalf to enable you to earn interest on your deposit.

Water and Electricity

Arrange to fill in forms and put down deposits for Water and Electricity at the appropriate authority after Transfer - take a copy of the Agreement of Sale, Identity Document and Documents from the Conveyancer.

Transfer Duty

Transfer Costs

Transferring attorneys attend to the transfer of the property from the Seller to you.

Levies and Home Owners Association Clearance Figures

A portion of the Levy Clearance (if applicable).

Bond Finance

If you are applying for a bond (either to cover the balance of the purchase price or for the full purchase price) the bond must be granted to you by a certain date as stipulated in the agreement of sale. Provide the Conveyancer with the name of the Bank and Bond Attorney appointed by the Bank.

Cash Transaction

The amount must be paid to the transferring attorney on acceptance, or by the date specified in your agreement of sale. If you have the funds invested, guarantees need to be issued against your investment.

Service Providers

Make arrangements regarding the Telephone, Alarm/Security Company, Garden service and change of address.

Paying Of Costs

It is important to pay your costs as soon as possible after being requested by the transferring and bond attorney (if applicable).

Bond Registration Costs

Bond attorneys (if applicable) attend to the registration of your bond.

Levies and Home Owners Association Clearance Figures

Levy Clearance Figures (up to 2 months in advance) if the property you are selling is a sectional title unit, the transferring attorney will apply for levy clearance figures from the body corporate. You need to furnish the transferring attorney with the details of the body corporate. Once the figures are received the transferring attorney will inform you of the amount. If you have any problems with your account, you need to attend to it before registration.

The Transfer Process

The Property Transfer Process Explained

The sale of a property involves the Sale and Transfer of the Property from the
Seller to the Purchaser. The property may be Residential, Commercial, Industrial,
Farm Portion or Agricultural holding.

The whole process usually takes approximately 9 to 12 weeks, depending on the
finances, the terms of the agreement, the time periods to obtain a Bond or to
secure the Purchase Price, and the requirements of the Purchaser and the Seller.
The sale of a Property may also involve if applicable the sale of the member's
interest in a Property owning Close Corporation or the sale of shares in a Property
owning company. The procedure here will involve the Deeds Office and the
Companies Office. Transfer Duty is now payable on the Purchase Price of the
member's interest or shares.

Conveyancing Attorney: As the Owner of the Property, it is the Seller's prerogative
to nominate the Conveyancer to attend to the transaction.
The Estate Agent: Will send a copy of the Agreement of Sale (also known as an
Offer to Purchase) to the Conveyancer.

Upon the receipt of the Agreement of Sale (Offer to Purchase) from the Estate Agent or the Parties involved, the Conveyancer will attend to the whole transaction in accordance with the terms of the agreement as follows:

Cancellation Figures

Request the existing Mortgage Bondholder for Cancellation Figures and the original Title Deed.
FICA Documents

Liaise with the Seller and Purchaser and obtain copies of Identity Documents, Marriage Certificates, Ante nuptial Contracts or Close Corporation/Company/Trust Documents, whichever is applicable as well as FICA Documents such as Proof of Residence and Income Tax Numbers.
Deposit

Collect the deposit and invest it in an interest bearing Trust Account, interest to accrue to the Purchaser to date of registration - if the deposit is not payable to the Estate Agent.
Bond Finance

Ensure that the Purchaser's new Mortgage Bond is granted in writing by the applicable Bank on due date in terms of the Agreement of Sale, if the Sale is subject to the Purchaser obtaining a Bond.
Rates & Levy Clearance

Request a Rates Clearance Certificate assessment from the Local Authority; Levy Clearance assessment from the Managing Agents, if a Sectional Title Unit; Levy Clearance Certificate assessment from the Property Owner's/Homeowners' Association, if the Property is in a Cluster Development or Property Estate.
Signing of Transfer Documents

Draft Transfer Documents and arrange signature by the Seller and Purchaser.
Transfer Costs

Transfer Costs are payable by the Purchaser on signature of the documents.
Bond Costs

Call for Bank Guarantees from the Purchaser or if applicable from the Bond Attorney, the Purchaser will be requested to sign bond documents at the Bond Attorney and pay the Bond Costs.
Transfer Duty

Pay the Transfer Duty to the South African Revenue Service and obtain the Transfer Duty Receipt or Transfer Duty Exemption Receipt.
Clearance Certificates

Pay the Rates/Levy/Property Owners assessments and obtain the necessary Clearance Certificates.
Guarantees

Secure the full Purchase Price in the form of Bank Guarantees or payment before the Guarantee due date.
Cancellation of Existing Bond

Forward a required Guarantee to the Bond Cancellation Attorney to secure all amounts outstanding to cancel the Seller's existing Bond.
Electrical Compliance Certificate

Ensure that the Electrical Compliance Certificate is issued and if applicable, the Gas Conformity Certificate and the Electric Fence Certificate.
Lodgement

When the Transfer, new Bond and Bond Cancellation are ready, arrange simultaneous Lodgement in the appropriate Deeds Office. Under normal circumstances, the Deeds Office takes approximately 12 working days to inspect the documents. Unless there are any queries or notes raised, the matters come up "On Prep" to enable Registration to take place the next day.
Registration

All parties are notified of registration and payment of the Guarantees are effected the day following Registration.
Estate Agent's Commission

Payment of the Estate Agent's Commission, Apportion Rates if applicable, Levies between the Seller and Purchaser, adjust Occupational Rental if requested and pay the nett proceeds to the Seller and any refund due to the Purchaser.

The Seller's Responsibilities:
The Seller is liable for Rates, Refuse and Sewerage charges to date of Transfer, unless otherwise stated in the agreement. Depending on the requirements of the Municipality, the Conveyancer will adjust the Rates, Refuse and Sewerage charges. For City of JHB the full assessment is allocated to the Seller and the Municipality adjusts and refunds the Seller and charges the Purchaser separately from date of Transfer.

The Purchaser's Responsibilities:
The Party occupying the Property is responsible for Water and Electricity charges. The Conveyancer does not attend to these accounts nor with their disconnection/connection as the Seller and Purchaser need to make the necessary arrangements directly with the appropriate authority/Eskom if applicable, fill in forms, pay deposits etc. The parties should take meter readings with them to the Municipality or Eskom if applicable.

Occupational Rent:
Subject to the terms of the agreement and assuming that Registration date does not correspond with occupation date by the Purchaser, occupational rental will be payable by the Party occupying the Property whilst not the Owner.
Registration of Transfer

Notify the Local Authority/Managing Agents and Property/Homeowners' Association of Registration of Transfer.
Title Deed

The new Title Deed is released by the Deeds Office approximately 2/3 months after Registration. The original Title Deed is sent to the Purchaser or, if there is a new Bond, it will be sent to the Purchaser's Bondholder to hold as security.