Frequently Asked Questions
Below are some of the Frequently Asked Questions about Deeds and Property Information
Reviewing the title deed before signing an Offer to Purchase helps uncover conditions or restrictions that may affect the property's value or your plans for it. For example, there may be servitudes, zoning limitations, or rules from an HOA that could impact your decision.
Accessing Deeds Office records involves administrative and archival services, and the fees help cover these costs.
Transfer duty is a tax paid to SARS (South African Revenue Service) based on the value of the property. This tax is collected by the conveyancer during the transfer process.
A Deed of Sale is a legal agreement outlining the terms and conditions of a property sale. Both the buyer and the seller (or their authorized representatives) must sign this document.
A property valuation is an estimate of the current market value of a property based on various factors, including its location, size, condition, and recent sales of similar properties in the area. It provides an informed estimate of what a property is worth in the current market.
Property valuations are essential for various reasons, including buying or selling a property, refinancing a mortgage, settling estates, divorce settlements, or for insurance purposes. They help ensure that the property’s value is accurately reflected in any transaction or legal matter.
Several factors influence property value, including location, property size, the condition of the property, recent sales of similar properties in the area, zoning laws, and market conditions. External factors like economic conditions and interest rates can also play a significant role.