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Property purchases in South Africa benefit from an established and straight forward method of purchase, meaning transactions are generally smooth and simple. As always, a local trusted lawyer should be employed to help with all dealings and to help avoid any potential pitfalls a buyer could encounter. Once a property has been decided upon, an Agreement of Sale is signed by both parties and a deposit of around ten to fifteen percent is normally paid. At this point it is normal for a number of checks to be carried out, both physically on the property and regarding legal aspects of the transaction. Once these checks have been finalised and any problems sorted out, the remainder of the fee is paid, any other outstanding fees are paid and the documents are then sent to a local Deeds Registry – the property is then signed over to the new owner. Fees for estate agents, lawyers and notaries vary, but are usually agreed upon early in the buying process.
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