Home buying step‐by‐step

Home Buying

Part 1: House hunting

  • Find out the hidden homeloan costs, do the buyers checklist

Part 2: Sign offer to purchase

Part 3: Seller accepts offer

Financing your Home

Part 4: Contact Genesis Mortgage

  • Freehold properties, Building a Home and Sectional Title properties

Part 5: Financial Institution will confirm requirements

Part 6: Property Valuation done by bank

Part 7: Decision taken by bank

Registering your Home

Part 8: Letter of Grant sent to

  • Genesis Mortgage
  • Property Consultant
  • Customer

Part 9: Registration attorney instructed to attend to the registration of the bond

Part 10: Customer to sign documents at 2 sets of attorneys

  • Transfer
  • Registration

Part 11: Homeloan registered in buyers name at Deeds Office by registering attorney

Part 12: Registration attorney confirms registration to buyer & financial institution

Part 13: Seller’s bond cancelled and settled

Part 14: Amount owing will reflect on buyer’s homeloan account

Part 15: Bank will confirm monthly instalment due in writing

Part 16: First monthly instalment due within 30 days of registration date

  • For building loans: First instalment due within 30 days after 90% of the loan paid out or occupation

Part 17: Title deed & Mortgage Bond document sent from attorney to Bank for safekeeping