Question:
I put down a deposit for a property in a development in 2006, but to this date no transfer has taken place.

How long can they make me wait? Would it be possible to walk away from the deal?

The relevant paperwork has been signed some time ago.

Answer:
I do not know the circumstances of the deal or the contract.

New developments can take a lot of time to transfer as all kinds of municipal processes have to be taken care of.

You can only pull out of the deal if they have breached any specific clauses in the agreement you signed. For example, if they stated that transfer would take place within a specified period of time and this time limit has been exceeded, then you could cancel the contract. However, these agreements are often written in such a way that times are not specified.

If you want to cancel the deal you need to read your agreement to ascertain what damages they will be seeking. In all likelihood you will lose your deposit and perhaps be liable for the agent's commission.