Process when buying a new house

The four-step process to follow when buying a home in 2023

There are several aspects to consider before buying a house to ensure a smooth and successful transaction.

COSMOPOLITAN PROJECTS sales agent Bongani Moeng says you need a sales agent who will be the perfect aid when purchasing a new home. “Instead of doing everything yourself, an agent can guide you and help you step-by-step, especially while tackling any issues you may encounter in the process,” he adds.

In addition to finding the right sales agent, here are four steps to be familiar with when buying a house:

  1. Get pre-approval: Consider getting pre-approved for a bond before house hunting. This will give you a clear idea of the loan amount you qualify for and can make you a more attractive buyer to sellers.
  2. Set a viewing appointment: Before buying a house or apartment, ensure you have gone for a viewing. Moeng says this will help you identify what you like before deciding whether to purchase or not. Attend ‘open days’ to see which property will suit your requirements.
  3. Application process: Your bond application is submitted to the banks and awaits approval. Once the bank has approved you, the attorneys will be in contact with you to sign transfer documents. This process will include lodgement of the title deed in your name at the deed’s office. When this has been verified, the registrar of the deed’s office signs off on it, and the title deed is officially lodged.
  4. The handover: Once your bond is registered and you have a copy of your title deed, an official handover is arranged so that you can identify any defects or issues during the inspection; it provides an opportunity for defects or issues identified to be rectified by construction before you can officially move into your new home.