Every buyer should read the exit before they sign the entry. A seller who is vague about how you leave is a seller who expects leaving to be difficult.
The process
- Clear your instalments. A transfer requires that nothing is outstanding on your schedule. This is the only condition we impose and it is the only one we are entitled to impose.
- Request a no-demand certificate. We check your file against the system, and issue a certificate stating that nothing is owed. It carries a QR code and a reference so your buyer can verify it independently.
- Your buyer is recorded. The new owner is registered against the unit in our records and against the instrument itself. The other two owners in your townhouse have no say in this.
- Transfer is completed at the relevant office in the normal way for the instrument.
What we may not refuse
We cannot refuse a transfer because we dislike your buyer, because we would rather sell them a different unit, or because we think your price is too low. If your instalments are clear, the no-demand certificate is yours.
If a transfer is being obstructed, put the request in writing and keep the reply. If you do not get one, that is a fact worth having on record.
What it costs
Not published yet
The transfer fee schedule — what Central Point charges to process a transfer and issue a no-demand certificate, plus the government duties payable.
We would rather show you nothing than show you something indicative. This space holds the real document as soon as it exists — not a render of what it might look like. Waiting on: Central Point.
Ask us where this has got toA transfer fee that is invented at the moment you need it is a way of charging whatever the seller can bear. It belongs on a published schedule from the start, and it will be published here.
Selling before you have paid in full
This is possible, and it is more common than sellers admit. The buyer takes on the remaining schedule, and the file transfers with its arrears position intact. Both of you should be clear about exactly how many instalments remain and what they are — ask us for a current statement rather than working from your own records.
You cannot transfer while you are behind. Bring the file current first.
An honest word about the resale market
The market for a single floor is narrower than the market for a plot. There are fewer buyers who understand the product, fewer dealers who have sold one before, and fewer banks who will finance one. That is a real cost of buying this way and it is not offset by anything we can do.
What we can do is make the file easy to diligence: a published approval, a named instrument, a document that verifies by QR, and a payment history that reconciles. A buyer can check all of it in an afternoon. A floor that is easy to check sells faster than one that is not, and most floors on the market are not.
If you are buying primarily to resell within a year or two, be honest with yourself: a plot is the better instrument for that, and we would rather say so now.