February 2014
The importance of providing certification as soon as possible to avoid delays in a transfer
As we all know most sale agreements will accommodate for the production of certificates relating inter alia to beetles, electrical installations, electric fences, gas installations and/or water leaks in the plumbing system. These sale agreements normally provide that the certificates should be produced by the party who has accepted responsibility therefore (normally the seller) prior to the registration of transfer of the property. In most instances the seller delegates the responsibility for arranging this certification to the estate agents who brokered the sale. We have been noticing that the certification process is not receiving the urgent attention that it deserves and that this is causing delays to transfers especially when the purchaser is taking a bond. In this regard we should be aware that most financial institutions granting a bond require copies of these certificates to be provided to them before they will allow the attorneys who are attending to the registration of the bond to even lodge the bond at the deeds office (never mind to register the bond thereafter). It is therefore important that sellers and estate agents all realise the need to have the certification process done as soon as possible so as to avoid such delays.
Milton Koumbatis Director