South African conveyancing process 'very different to UK'

Before planning to transfer money to South Africa and purchase a property, individuals have been given advice on important things to consider.

Co-founder of property search and relocation specialist company Spacesa.com Sue McDermott warned people the conveyancing process in the country is very different to that in the UK.

She commented how in Britain investors can be "gazumped" and have no control over the date of exchange on properties "until it actually happens".

In comparison, it was noted in South Africa the process is far more rigid, with one lawyer representing both parties.

Ms McDermott suggested this "sounds like a huge conflict of interests for anybody coming in the UK, but in fact it works really well".

Those with a complicated situation were advised to get their own legal representation to make the transition smoother, but generally it was claimed the conveyancing process is "very good".

Another thing to consider is where to purchase a property, Ms McDermott commented, explaining most foreigners tend to stick to the south of South Africa.

It was suggested the north of Cape Town is often avoided and this is unlikely to change in the near future.

However, the expert claimed there is "new property coming in all the time in different areas".

"There is a little bit more interest down the Indian Ocean coast - so places like Kalk Bay and Simon's Town," Ms McDermott remarked, although it was noted these are considerably further away from central Cape Town than more traditional options.

In comparison, Hout Bay is around 20 minutes outside of the city - which is half the distance of Simon's Town – and is located on the coast.

According to Ms McDermott, most people want to have the attractions of Cape Town "on their doorstep", so they pick a home nearby.

Posted by Thomas Smith

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