What happens after signing a purchase agreement?

Once the Offer to Purchase is signed, the next step is for the buyer to apply for a home loan to fund the purchase.

If the application is approved, it is followed by Bond Registration, Transfer of Property, and title deed registration.

Bond registration: The bank hires an attorney to cancel the seller’s bond and register the bond in the name of the buyer. The buyer must pay the attorney bond registration fees.

Transfer of Property: The seller hires an attorney to transfer the title deed to the buyer’s name. The buyer must pay transfer costs and transfer duty.

Title deed registration: Once the title deed is transferred to the buyer’s name, it is registered at the Deeds Office, making the buyer the new owner of the property.

You can use our Transfer Cost Calculator to determine what you will pay for transfer costs, transfer duty, and bond registration.