The Department of Agriculture, Land Reform, and Rural Development has released the closing dates of the Deeds offices over this holiday season of 2022 and 2023.
The Deeds offices will officially close at 10:00 SAST on the 23rd of December 2022 and will only re-open on the 3rd of January 2023. No lodgements or registrations will be accepted on the 23rd of December 2022 and will only be accepted again on the 3rd of January 2023.
They have also mentioned that system requests will allow Deeds to be on prep between the 23rd of December 2022 and 10 January 2023 and that automatic rejections will be suspended during this period.
Even though offices are only closed for just under two weeks, the backlog of applications they will receive during this time together with all the rushed applications they receive just before and after they close will cause your property registration applications to take likely an extra month to get handled and helpfully approved.
How does the closed period of the Deeds Office affect Property Sellers?
Many people around South Africa who have sold their properties during the last quarter of the year would now have to wait even longer for all the registrations to be completed.
This adds to the total waiting period that property sellers must wait before they receive their money. Sellers can expect to receive their money only around late January or even February 2023.
Many sellers depend on receiving their money before the December holiday as they have additional expenses arising during this festive season like vacation rentals, travel costs, and even expensive Christmas gifts.
It’s also not that uncommon for people wanting to buy property near coastal areas to do so while they are in that specific area over holidays. Their much-needed cash is now still missing from the sale of their previous property will likely prevent them from making a cash purchase of such.
If you have recently sold your property this year and are afraid you will not receive your money before your December holiday, now is the time to make use of Property Bridging Finance from QuickBridge.
Benefits of Applying for Bridging Finance:
- Receive your money from your property sale, earlier!
- Receive up to 75% of your money to deliver from the sale.
- Skip the waiting queue of the lengthy transfer process to be completed.
- Use the funds for any purpose including costs related to the sale or even a holiday!
Visit QuickBridge for more information.