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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.

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Ooba home loans services are simply the best. My Consultant Bianca Dancer was so hands on and helpful from the get go. She guided me through the entire process and put me at ease being a first time buyer. I highly recommend their services.

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Jay Govender and Maleshini Reddy from OOBA provided outstanding assistance and guidance in securing our home loan. Response times were excellent and they were professional and friendly.

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Estelle Vorster was really helpful in securing the best deal for my home loan, she not only negotiated a lower interest rate she went as far as securing 50% discount on the transfer costs.

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