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Sold Your Property - What's Next?

Sold Your Property - What's Next?

Referral and Relocation Assistance

Statistics Show that 80% of Sellers become Buyers and in turn 80% of these, buy in a new area. Therefore we understand that the majority of Clients are faced with the stressful task of relocating their families at the time of selling their home.

Relocating is stressful because of so many unfamiliar issues and concerns that need to be addressed. Not only has Harcourts recognised the stresses and strains its clients face, it has addressed this problem directly by developing a unique RELOCATING SERVICE to support them every step of the way.

As a Harcourts Client, you are entitled to benefit from the HARCOURTS REFERRAL AND RELOCATION SERVICE. Ask your Harcourts Estate Agent to give you details.

The Sales Registration Process

•The seller to discuss the buyer’s offer with the agent and sign the Sale Agreement

•Receive copy of the Sale Agreement from Agent

•Agent sends a copy and instruction to Conveyancer on Seller’s behalf

•Agent assists Buyer in applying for a Bond and the application is submitted

•Agent ensures deposit is secured (i.e. placed in trust or guarantee given

•If the sole is “subject to sale of another property” the deposit will be secured by way of a guarantee form the Buyer’s conveyancers in lieu of actual cash paid

•Bank inspects the property

•Buyer’s Bond is granted

•Bank instruct Bond Registration Attorneys to proceed with registering the Buyer’s bond

•Conveyancer sources the title deeds

•Agent arranges for Entomologist Report to be issued

•Agent and Conveyancer ensure that all “suspensive conditions” have been fulfilled

•Conveyancer prepares documents for both parties to sign

•Agent ensures that Buyer’s transfer costs have been placed with the Conveyancer

•Conveyancer applies for cancellation requirements of Seller’s existing bond

•Conveyancer applies for Transfer Duty Receipt from the Deeds Office

•Conveyancer applies for Rates Clearance, Certificate / Levy Clearance Certificate form local municipality / managing agents

•Conveyancer calls in both Buyer and Seller to sign Transfer papers

•Conveyancer calls for guarantee from Bond Registration Attorneys

•Conveyancer lodges all necessary documentation with local Deeds Office – this process is referred to as “the sale has been lodged”. Depending on the time delay in the Deeds Office, the transfer should take approximately 7/10 days.

•Sale is registered in the Buyer’s name

•Conveyancer pays out the net proceeds of the sale (after the seller’s bond has been settled) to the Seller and Commission to the Agent.

Note: If occupation takes place prior to Registration, receipt of occupational interest from the buyer may be arranged either personally, through the Agent or through the Conveyancer.

Occupation should never be allowed to take place whilst there are still “suspensive conditions” outstanding, i.e. Sale of another property granting of a bond or guarantee of deposit to be issued. If the seller is in turn buying another property, the profit from the sole may be used as a deposit for the second property. In which case, once the sale is secure, the Conveyancer will in turn offer a guarantee to the relevant attorneys handling the transfer of the said second property.

Check the Progress of Your Sale

Although your Harcourts Agent will keep you informed, it is sensible for you to complete the following checklist:

•Sale Agreement signed by both parties

•Received copy of Sale Agreement form Harcourts Agent?

•Purchaser’s Deposit / finance placed in trust guarantee issued

•Purchaser’s Bond granted by Financial Institution

•Purchaser’s home sold (if applicable)

•Purchaser’s sale become conclusive (if applicable)

•Seller signed transfer papers •Entomologist Report issued

•Electrical Compliance Certificate issued •Transfer Duty receipt issued

•Rates / Levy Clearance Certificate issued

•Guarantee for Bond issued by Bond Registration Attorneys

•Purchaser took occupation of the property

Now You've Sold - What's Next?

•Once the sale has been confirmed, i.e. …..

•Deposit / Finance placed in Trust

•Costs have been secured

•Suspensive conditions fulfilled

•Necessary guarantees issued

•Confirmation issued by the Conveyancing attorneys that the sale will in fact proceed

…. Thought must be given to the cancellation of existing services and the numerous arrangements that have to be put in place when a family relocates.

A. Change of Address And Telephone Number Checklist

•Telephone

•Electricity

•Water

•Post Office

•Employer (Mr)

•Employer (Mrs)

•Cell Phone provider

•Municipality

•Receiver of Revenue

•Bank

•Medical Aid

•Hospital

•Car insurance

•House contents insurance

•Personal insurance

•Personal investments
•Department of Motor Vehicles
•TV licence
•MNET / DSTV
•Security Company
•Garage
•Doctor
•Dentist
•Medical specialists
•Vet
•Accountant / Tax consultant
•Attorney
•Hairdresser
•Swimming pool service
•Garden Service
•Electrician
•Plumber
•Builder
•Schools
•Golf Club
•Country Club
•Miscellaneous clubs (sports and social)
•Newspaper subscriptions
•Public Library
•Retail accountant i.e. Woolworths
•Computer Consultant
•Overseas contacts
•Distant relatives
•Social friends
•Friends of children
•Business contacts / colleagues
•Neighbours
•Church and Church groups



B. Arrangements to put in Place
These reminders are not necessarily in any specific order, as it is a matter of personal choice.

Furniture and Furniture Removal


Obtain quotes form several removal companies (large, medium and small) and arrange for the removal of your furniture and storage, if applicable. Make tentative booking dates well in advance – they can usually be altered if necessary nearer the time. The cheapest quote is not always the best company to choose – look at their service, insurance and other issues, as well as the price.


Investigate the various offers regarding insurance: What is covered, what is not, what is the actual cover, how much, etc. sometimes it is better to take into account your normal house contents insurance policy as well as that of the removal company.

Budget
Ascertain a comprehensive list of the costs you will be incurring through the purchase of your new home from the agent who is handling this transaction. The list below contains common cost items.

Existing Home
• Entomologist Report (and repairs if necessary)
• Electrical Compliance Certificate (and repairs if necessary
• Bond Cancellation Fee
• Staff Payments (i.e. maid, gardener etc.)
New Home
• Conveyancing / Transfer costs (to transfer the property into the buyer’s name
• Bond Registration Costs (to register a bond over the property)
• Removal costs
• Deposits required at new destination, i.e. Telephone, water, electricity, school fees and deposits
• Curtains
• Carpets
• Minor renovation items such as cleaning, painting, garden services, electrical, plumbing, etc.


What Stays – What Goes


Systematically list all items and decide which things are going to the new house, which are to be sold, which are to be given away to members of the family and which are to be thrown away.
Ideally if your new home is already known to you, draw a floor plan and place your furniture approximately. This will give you a good idea of those items which may be unsuitable for your new home.


Have a garage / boot / flea market sale for those items you will not be taking with you.


Boxes
Most companies charge heavily if you ask them to provide packing boxes. Give yourself plenty of time by collecting boxes early: most supermarkets and cafes are only too happy to give them away.


If you have the storage space, you can actually start packing all of those items that you would not dream of giving away, but that you do not use on a day-to-day basis in order to save time later.

Packing kit

Assemble your Packing Kit well in advance and include one or more of the essential items:
• Boxes, boxes and more boxes
• Packing tape, masking tape, sticky tape etc.
• Scissor
• Knife
• Large self-adhesive labels (to number the boxes and record contents).
• Different colour Koki pens
• Bubble wrap
• Old newspapers
• Make a list of boxes and contents as a backup if labels come off a couple of boxes. Also record which ones are to be opened immediately, which rooms they belong to and which can be stored in the garage and opened at a later stage.
• Remember to arrange for the separate packing of all legal documents and valuables, which should be carried with you rather than with the removal company.
• Make sure that the children’s toys are packed together and are easily found on arrival. These go a long way to ensuring that the children adjust easily to their new home

Sale Legalities


With the assistance / advice of your Agent, arrange for:
• The issue of the Electrical Compliance Certificate.
• The issue of the Entomologist Certificate (if called for by the buyer’s bank and / or the sale agreement)
• The signing of the transfer papers at the Conveyancer’s office.
• Official hand-over of the keys on your departure / buyer’s occupation
• Official collection of the keys on your arrival at your new property.
• The payment of any outstanding levies, if his property is Sectional Title as any outstanding amounts will delay transfer. 


Cleaning
Clean, wash, repair items such as curtains, carpets, etc., rather than wait until you move into your new house.


Arrange Services


• Arrange to cancel all services on a certain day taking into consideration when the buyer is moving in (if property is to be left vacant for a while, it would make sense to leave lights and pool pump on, but turn off geyser for example.)
• Arrange for new services to be available at destination on a certain day.
• Arrange for electricity / water etc. deposit to be refunded or transferred.
• Transfer any doctor’s repeat prescriptions from one chemist to another.


Arrival Kit


Pack an arrival kit to be opened the minute you arrive at the other end.
• Toiletries
• Refreshments
• Children’s Toys and books
• Hardware
• First Aid Kit
• Soap, toilet paper, hand towel.
• Tea, coffee, sugar, milk, cool drink, etc.
• Colouring books and crayons, a reading book and puzzle.
• Plugs, scissors, knife, screwdriver, hammer, light bulbs, batteries, etc. kettle, cutlery, Paper plates, dustbin bags, bath towels.
• Basic home / car kit


Kitchen

Use up all the food stuffs that cannot be taken with you. Defrost fridge in good time.


Children


A move to a new neighbourhood or province can be traumatic for children. Many parents are tempted to take children to a relative or friend on the day of the move. It is, however, important to allow children to watch the packing and loading to make them feel that they have participated in order for them to understand the moving process.


Pets

If you have to relocate pets, special arrangements can be made via certain removal companies or with an independent animal mover company. Special containers, designed for maximum comfort and security, can be arranged to accommodate your pet for the trip.

It is recommended that the container be delivered to your home a few days before the move to allow your pet to become accustomed to it. It is advisable to feed your pet in the container or put a favourite blanket or toy in the container and encourage him to sleep there for few days prior to departure.


Plants
Your local florist / nursery will be well equipped to advise you regarding the best way in which to move any plants you wish to relocate to your new home.


Motor Vehicles
Should you and your family be flying to your new destination, arrangements can be made for the transport of your car.


Last minute Arrangements


• Pack in good time and b ready when the removal company arrives.
• Remember to have cash available to pay driver and movers, if applicable.
• Lock all doors, windows and outbuildings.
• Check Arrival kit.
• Check valuables
• Check inventory
• Hand over keys directly to Buyer or Agent
• Leave happy in the knowledge that this move has been a stress-free, organised one and a pleasant experience.

 

On Arrival


• Unpack the arrival kit.
• Check all boxes and items as they come off the removal truck against your list.
• Direct removal staff to place boxes in appropriate rooms. Have a cup of tea and congratulate yourself on a truly well-organised move!