Buying or selling a property is often described as one of life’s biggest milestones. It’s exciting, emotional and, for many, the largest financial transaction they will ever make. Yet while most people spend weeks choosing the right home or negotiating the best price, very few appreciate what happens after the Offer to Purchase has been signed.

It’s often during the conveyancing process that unexpected costs, administrative delays and avoidable misunderstandings begin to surface. Some are minor inconveniences. Others can delay registration by weeks or even months, placing unnecessary financial and emotional strain on everyone involved.

According to Kayley Leverton, Senior Associate and Conveyancer at Gillan & Veldhuizen Inc., many of these issues are entirely preventable. “A property transfer isn’t just paperwork. It’s a legal process with a number of moving parts, involving banks, municipalities, SARS, estate agents and, in some instances, the Master of the High Court. The more informed buyers and sellers are from the outset, expectations can be managed and the smoother the transaction is likely to be.”

Buyers: Expect more than just the purchase price

One of the biggest surprises for first-time buyers is that the purchase price is only one part of the financial picture. “In addition to the transfer costs, buyers often forget to budget for bond registration costs,” explains Leverton. “Although these are usually discussed during the bond application process, many buyers are still caught off guard when the invoices arrive.”

Transfers can also take longer than anticipated. While a standard transfer generally progresses efficiently, transactions involving deceased estates, trusts or more complex ownership structures may take considerably longer.

“A deceased estate transfer, for example, can take anywhere between four and twelve months because of the involvement of the Master of the High Court,” she says. “People often don’t realise that some delays are simply outside the control of the conveyancer.”

Accuracy at the beginning of the process also matters more than many people realise. Something as simple as incorrect information on a bond application or changing insurers halfway through the process can result in amended bank instructions and unnecessary delays.

Read the fine print – and inspect the property

While buyers are naturally drawn to kitchens, views and swimming pools, Leverton encourages them to spend just as much time reviewing the legal paperwork. The Property Condition Report has become a mandatory document where a property practitioner is involved, but buyers should still understand what it does – and doesn’t – protect them against.

“Many people assume the voetstoots clause means the seller is never responsible for defects,” says Leverton. “That’s not entirely correct. If a seller knowingly conceals a latent defect, the law will not protect fraudulent non-disclosure.”

She also recommends asking to see approved building plans before committing to the purchase. “It is surprisingly common for buyersto discover that alterations or additions were never approved by the municipality. Unfortunately, once registration takes place, resolving those issues often becomes the responsibility of the new owner.”

Sellers: Planning ahead can save money

While buyers often focus on costs, sellers can also be caught out financially. One of the most common oversights involves existing home loans. “Most banks require notice before a bond is cancelled,” explains Leverton. “If sellers leave it too late, they may be liable for an early termination penalty. The earlier the bank is notified after the property is sold, the better. Most banks require 90 days written notice.”

Many sellers are also surprised when their access bond facility is frozen after cancellation instructions have been issued. “Once the bank starts preparing the cancellation figures, it places a hold on the available funds to ensure the outstanding balance remains accurate. It’s something many homeowners don’t expect.”

Occupational rent arrangements are another area where disputes frequently arise. “Whether the buyer moves in before registration or the seller remains in occupation afterwards, the agreement needs to be clearly recorded in the Offer to Purchase. Everyone should understand exactly who pays what, when occupation takes place and when risk passes.”

The paperwork that causes the biggest delays

Contrary to popular belief, delays are not always caused by banks or the Deeds Office. According to Leverton, incomplete FICA documentation remains one of the biggest causes of unnecessary hold-ups.

“Our advice is simple: send everything together. Multiple emails with missing attachments make the administration far more complicated. Providing complete documentation upfront helps keep the transaction moving.”

Where companies, trusts or multiple parties are involved, the process can naturally become more complex as every relevant party must be identified and verified.

Generic Offers to Purchase can also create problems later. “When everything goes according to plan, a standard agreement usually works. It’s when something unexpected happens that poorly drafted agreements become problematic. The document may simply not deal with the issue at all.”

She points to incorrectly structured zero-rated VAT transactions as a recurring example. “If the transaction isn’t capable of qualifying for zero-rated VAT and that only becomes apparent months later, SARS may require VAT to be paid at 15% of the purchase price. That additional amount, usually payable by the buyer, can create serious financial pressure for a buyer who never budgeted for it.”

Small checks. Big peace of mind.

Cybercrime has also become part of the modern property transfer process. “Before making any payment, always verify banking details independently,” cautions Leverton. “Email interception scams have become incredibly sophisticated.”

She also recommends that buyers ask the conveyancer or estate agent to invest any deposits held in trust during the transfer process so that the buyer earns interest while waiting for registration.

For sectional title purchases, buyers should look beyond the front door. “Read the conduct rules carefully and don’t rely on verbal assurances about what is or isn’t permitted. For example, if you’re buying with the intention of listing the property on Airbnb, make sure the scheme rules actually allow short-term letting. Ultimately, it’s the body corporate’s rules – not someone’s verbal assurance – that determine what owners can and cannot do.”

Before you sign.

If Leverton could leave buyers and sellers with just a few pieces of advice, it would be these:

  • For buyers, understand exactly what you’re purchasing by reviewing the title deed, approved building plans and any restrictions affecting the property.

  • For both parties, make sure the Offer to Purchase accurately records every important agreement. “Don’t rely on verbal promises,” she says. “If it’s important, put it in writing.”

And finally, keep expectations realistic. “Everyone works towards the anticipated registration date, but it’s never guaranteed. Property transfers involve numerous stakeholders and unexpected delays do happen. A little flexibility and early planning can prevent a great deal of unnecessary stress.”

Ultimately, buying or selling property isn’t simply about transferring ownership. It’s about protecting one of your biggest investments. The conveyancing process shouldn’t be something people fear, but rather something they can understand. The right advice at the beginning of the transaction is almost always less expensive than fixing a problem at the end.