Why You Need a Bond Attorney
The Importance of a Correctly Registered Bond
A mortgage bond is the bank’s only real security for the multi-million rand loan they’ve advanced you. Any error in the drafting or registration of this document at the Deeds Office can cause significant delays in the entire property transfer, create legal complications for the bank, and add unnecessary stress to your home-buying journey.
Bond registration involves complex documentation between the bank, the borrower, and the Deeds Office. A single administrative error can delay transfer, incur penalties, or affect ownership records. Our team handles every detail to protect your financial interests.
We Handle:
- Bank Instruction: The bank approves your loan and formally instructs us, as the bond attorneys on their panel, to proceed.
- Document Request: We request the necessary information from you (FICA) and the transfer attorneys (draft Deed of Transfer).
- Drafting Documents: We prepare the new bond documents based on the bank’s loan agreement and legal requirements.
- Signing & Costs: You (the borrower) meet with us to sign the bond documents and pay the separate cost of registering a bond.
- Issuing Guarantees: We issue the necessary financial guarantees to the transfer attorneys, which is a crucial step that allows the transfer to proceed.
- Lodgement & Registration: We lodge the bond documents at the Deeds Office to be registered simultaneously with the property transfer documents.
Typical timeline: 6 – 8 weeks, depending on bank and municipal clearance processing.
- Bank instruction and cancellation figure
- Preparation of bond release documents
- Lodgement with transfer documentation
- Notification to all parties once registration complete
- Not Budgeting for Bond Costs: Many first-time buyers are unaware that bond registration fees are a separate cost from the property transfer costs and are for their account.
- Delaying FICA Submission: Not providing your FICA documents promptly to the bond attorneys is a common cause of delays.
- Misunderstanding the Loan Agreement: It’s crucial to understand all the terms of your loan agreement before you sign the bond documents. We take the time to explain these to you.
- Incomplete Documents – Missing IDs or proof of income halt bank authorisation.
- Late Payment of Fees – Registration cannot proceed until all fees are cleared.
- Incorrect Signatures – Sign in the presence of the conveyancer to avoid invalidation.
- Poor Communication Between Attorneys – Causes unnecessary Deeds Office delays.
- Ignoring Mediation Options – Disputes between banks, sellers, or buyers can be mediated under the Gauteng High Court directive.
Learn About Mediation →
- Registered Conveyancers: Fully qualified and accredited with the Law Society.
- Transparent Communication: Updates at every milestone of the process.
- Mediation Expertise: Accredited mediators under the Gauteng directive for resolving related disputes.
- Efficiency & Speed: We understand that delays in bond registration can derail an entire property transaction. Our processes are optimised for speed and accuracy.
- Clear Communication: We explain the complex legal documents and provide a transparent breakdown of the costs, so you are fully informed.
- Dual Expertise: As a firm that expertly handles both transfers and bonds, we have an intimate understanding of how the two processes interact, allowing us to proactively solve issues.
Questions Answered
Bond Registration FAQs
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