South Africa: Overview of the Transaction Support Centre in Khayelitsha
CAHF has established a Transaction Support Centre (TSC), piloted in Khayelitsha, Cape Town, support the realisation of effective residential property transactions. The pilot involves the establishment of a physical support office at the Desmond Tutu Sport and Recreation Hall in Khayelitsha where buyers and sellers can receive the following services:
- Preparing the property for sale – confirming integrity of the title deed, obtaining a property valuation, and assessing legality of any previous home improvements
- Matching buyers and sellers, and providing advice
- Establishing the sale: preparing the offer to purchase / deed of sale and obtaining necessary certificates
- Registering the sale
- Financing the sale
In the so-called normal market, these services are provided to buyers and sellers by various entities, including registered estate agents, conveyancers, mortgage providers and originators, property developers, and so on. In addition, the City of Cape Town, in providing rates clearance certificates, plays a critical role in facilitating housing transactions.
The Transaction Support Centre (TSC) is a free advice centre that aims to make established legal and administrative processes in the housing sector work efficiently. The TSC is funded by the Centre For Affordable Housing Finance in Africa (CAHF) through the Cities Support Programme run by the National Treasury of South Africa.
The Transaction Support Centre was established with the support from:
