How to Buy Property in South Africa: Step-by-Step Guide
Short answer
Buying property in South Africa involves making a written offer, securing financing, appointing a conveyancer, paying transfer duty, and registering the title in the deeds office. The full process usually takes two to three months.
1. Set your budget and get pre-approval
Decide what you can afford, including transfer duty, conveyancer fees, and bond registration costs (typically 8 to 10 percent on top of the purchase price).
If you need a mortgage, get bank pre-approval first. Non-residents usually qualify for up to 50 percent loan-to-value.
2. Find the property and submit an Offer to Purchase
Once you find a property, you submit a written Offer to Purchase. When the seller accepts and signs, it becomes a binding contract.
3. Appoint a conveyancer
The seller normally nominates a conveyancing attorney who handles transfer of title at the deeds office. They will request documents, pay transfer duty to SARS, and lodge the deed.
4. Pay deposit, transfer duty, and registration
You pay your deposit into the conveyancer's trust account. Transfer duty is calculated on a sliding scale.
Once SARS issues a transfer duty receipt and all funds are in place, the deed is registered. Title is officially yours on registration day.
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Related questions
How long does it take to buy property in South Africa?
Usually 8 to 12 weeks from signed offer to registered title.
What costs are involved beyond the purchase price?
Transfer duty, conveyancer fees, bond registration, and rates clearance certificates. Budget 8 to 10 percent extra.
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