Factors that delay the registration of a home loan
Failure by the seller and/or buyer to provide personal information.
Failure by the seller to provide details of the bank holding the existing home loan.
The existing home loanholder delaying provision of cancellation figures and Title Deeds to the Transferring Attorney.
Delay in receiving rates and taxes figures from the local authority and/or the clearance certificate from the Transferring Attorney.
Failure by the buyer to pay a deposit (if required).
Delay in the provision of guarantees.
Failure by the buyer to pay home loan and transfer costs on time Delay to comply with other requirements of the bank.
Delay by the buyer in signing transfer and/or home loan documents.
When the Home loan Attorney, Transferring Attorney and Cancellation Attorney are three separate firms.
Delay by the seller in signing the transfer documents