A Fin24 user wants to know how he can be sure the seller of a house in a township is really the legal owner. He writes:
My question is with regards to buying a house from someone in township.
What documentation do you need to as a proof of ownership?
READ: Township house prices higher
Shawn Mackrell, master licensee of Seeff Johannesburg South, Alberton & Soweto, responds:
Usually an owner would need to supply a copy of the title deed registered in his or her name, but in a township like Soweto, for instance, it is often the case that the owner doesn’t have the title deed, because he or she is still paying off the bond.
He or she would only receive the title deed when the bond is settled.
In this case Seeff will ask for a copy of the ower’s ID and a statement of the rates and taxes and will then do a Lightstone search.
The attorney doing the transfer will request the title deed from the bank at a later stage.
ALSO READ: Township property prices grow
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