Important Information for Sellers
Set your price right.
Ask the estate agents to help you with a valuation and trust their valuation. Try to obtain a bank valuation, so you know that the valuation would be acceptable to the purchaser’s bank.
Ensure all building plans for the property is in order.
Check your sale agreement.
Make sure you are happy with the terms of the sale agreement, your whole transaction is based on this document.
Give notice to your bank.
Give notice to your current bank that you intend paying off your home loan. Some banks require a 3 three month notice period, failing which penalties could be payable.
Find out who the bank appointed as cancellation attorneys.
Appoint transferring attorneys.
Remember the rule of thumb is that the seller is entitled to appoint the transferring attorneys.
Get your municipal account in order.
Make sure the municipality has the latest water and electricity readings, and that the municipal deposit is paid in full. The transferring attorneys will assist to request clearance figures, but the seller should try to limit any possible surprises.
Arrange the Certificates
Arrange an electricity- and gas certificate from a qualified professional.
Make sure the bank guarantees provided by the purchaser’s bank is in order.
Stay In Contact
Be in contact with your transferring attorneys on an ongoing basis.