The costliest misunderstanding is believing that once the contract is signed and the price paid, the land belongs to the buyer. A sale of immovable property is complete only on registration before the competent official at the Land Office. A buyer who has paid in full but not registered holds a contractual claim, not ownership.
For that reason the safest practice is to pay the balance on the same day the transfer is registered, at the Land Office — not to transfer funds and arrange registration later.
We draft the contract, prepare the documents, calculate the fees and taxes in advance, and attend the Land Office on the day.
What the sale agreement should contain
- The property identified by title number and area, matching the register.
- The price, the instalments, and what must happen before each is paid.
- A fixed registration date and what follows if either side does not attend.
- Who pays each fee and tax — substantial sums, and a frequent dispute where not agreed.
- The seller's warranty that the property is free of encumbrances, and what follows if it is not.
- The buyer's right to withdraw and recover funds — for example if finance is refused, or an undisclosed encumbrance appears.
Costs on the day
Several items, each calculated on a different base. Work them out in advance and agree who pays what.
- The transfer fee, calculated on the government appraised value.
- Withholding tax, calculated differently for individual and corporate sellers.
- Specific business tax or stamp duty, depending on how long the seller has held the property.
- The mortgage registration fee, if the buyer is using bank finance.
What to bring on the day
- The original title document.
- Original ID cards and house registrations for both parties.
- Spousal consent, where the property is marital property.
- Company certificate, shareholder list, seal and board minutes, where a party is a company.
- A properly drawn power of attorney, if attending by representative.
- Cashier's cheques in the agreed amounts, drawn as the contract specifies.
This page is general information, not advice on your situation. Fees and tax rates are administrative rules that change periodically. Send us the details and they can be calculated in advance.