Why list with Marion
Taylor Properties?

Sellers trust in Marion Taylor Properties ability to close deals quickly at the most advantageous prices. Whether working with a local, national, or international client, we strive to make every transaction as seamless as possible.

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MORE INFO FOR SELLERS MORE INFO FOR LANDLORDS

Selling Guide

Best practices for selling

When selling a home please bear in mind the following:
  • Make sure your home is clean and in top condition. Display fresh flowers to add warmth to the environment.
  • Allow your agent to schedule showings at the time of day when your property looks best.
  • Remove any jittery pets and arrange to be elsewhere when your home is being shown.
  • If selling a sectional title property, obtain rules and regulations from the managing agent.
  • Obtain documents i.e. copies of three years’ financials, complex guidelines, etc. from the managing agent and have them on hand before going to market.
  • Find out if your building has working capital or if there are any special levies due.
  • You will need to select an experienced real estate attorney to represent your interests.
  • Have copies of your title deeds, rates and levy accounts and building plans available. Have a copy of your current lease if applicable.
  • Do not hide any defects, e.g. leaking roofs, cracked walls, rising damp etc. as a seller you are obliged to disclose any defects that you are aware of.

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Bidding and negotiation

Going to transfer

Once you have accepted an offer, you will enter the transfer stage. After the contract is signed by the buyer and seller, the buyer typically presents a cash deposit of 10% of the sale price. After both the seller and buyer have signed the contract; the sale agreement is forwarded to your attorney. The buyer’s deposit is usually held in the conveyancing attorney’s trust account until the transfer date. Normally, any interest earned on the deposit accrues to the purchaser

Transfer

Your attorney will give notice of cancellation to any financial institution holding a bond over the property. Your attorney will request all the necessary documents i.e., original title deed, identification documents of all parties etc. If applicable , the following fees and costs need to be paid by the seller:
  • Bond cancellation fee and penalty interest
  • Beetle, electrical, plumbing and gas inspection fees
  • Costs of repairs in order for compliance certificates to be issued
Prior to transfer a rates clearance certificate must be obtained from the city; this requires rates to be paid in advance for the balance of the financial year. The buyer will refund the seller on transfer with the conveyancer establishing the pro rata amounts due. In the case of the transfer of a sectional title unit a levy clearance certificate is also required prior to transfer.

Once the offer has been accepted, you will enter the transfer stage which typically takes 3 months from signature. Your attorney will exercise “due diligence” by asking for certain key documents from you, the seller and the relevant authorities. These typically include:
  • Copies of identity documents of all concerned
  • Proof of marital status
  • Original title deed
  • Transfer duty receipt from SARS
  • Rates clearance certificate
  • Tax clearance certificates from SARS
  • Proof of residence
  • Bond account details from the seller
  • Bond approval from the buyer
  • The deposit is usually held in the conveyancing attorney’s trust account until the transfer date. Normally, any interest earned accrues to the purchaser.