What happens after signing bond documents?
The bond registration process takes place after the bank has approved your home loan application. A bond attorney is appointed by the bank to register the bond for the property in your name. They prepare the documents, which you and the bond attorney sign. You also need to pay the attorney a bond registration fee.
Once the documents are signed, the bond attorney submits them to the bank for verification, and the bank gives the go-ahead for the bond to be registered at the Deeds Office.
The Deeds Office usually takes 8 to 10 working days to register the new title deed in your name, at which point you are confirmed as the new owner of the property. The title deed is sent to the bank for safekeeping until you have paid off the home loan.
