Q: Am I as the buyer responsible for any outstanding accounts on the property I would like to buy?
A: Sellers are responsible to settle all outstanding council, municipal and other associated accounts such as levies and special levies prior to or during the registration process. An undertaking can also be given by the Attorney firm doing the transfer, to settle such accounts from the proceeds of the sale upon registration.
As part of the registration process, the Conveyancer needs to get a council and body corporate or home owners association clearance certificate before the registration can proceed. It is important to make sure that it states clearly in the contract (Offer to Purchase) that the buyer is not liable for any of these accounts up to the date of transfer into the new owners name.