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What will my transfer costs be?

Transfer Costs

These must be paid once off to the transferring attorneys as soon as possible and before date of registration. It consists of the following:

Transfer Duty: This is a Government Tax (payable to SARS) levied to transfer the property from the seller’s name into the buyer’s name. It generally constitutes the major portion of the costs involved. There is no Transfer Duty on property under R900 000. If the seller is registered as a VAT vendor, no Transfer Duty is payable. In such a case, the seller must have included VAT in the purchase price. This is usually the case when buying property in a new development – the developer is generally VAT registered.

Transferring Conveyancers Fee: These are for the service the Transferring Attorneys provide to get your new home transferred from its old owner to you, and to get the property registered in your name. The amount varies according to the purchase price of the property. The fee is based on tariffs recommended by the Law Society, but may differ slightly from one law firm to another.

Property Transfer Sundries / Postage & Petties: The Transferring Attorneys charge a levy to cover small things like posting documents to other conveyancers, the bank, the estate agent, the Deeds Office, to you, etc. The amount is usually fixed. Each different law firm has its own rates.

Property Transfer Deeds Office Registry Fee: This fee as charged by the Deeds Office for the Title Deed and legal transfer and registration of your new home into your name. The amount is fixed according to the purchase amount.

Bond Costs

These must be paid once-off to the bond registration attorneys as soon as possible and before date of registration. It consists of the following:

Bond Registration Conveyancing Fees: They are for the service the bond registration attorneys provide to get your bond registered. The amount varies according to your home loan amount. The fee is based on tariffs recommended by the Law Society, but may differ slightly from one law firm to another. The amount must be paid once off to the attorney before your bond is registered.

Bond Registration Sundries / Postage & Petties: The Registering (Bond) Attorneys charge a levy to cover small things like posting documents to other conveyancers, the bank, the estate agent, the Deeds Office, to you, etc.

Bond Registration Deeds Office Registry Fee: This fee is charged by the Deeds Office for the legal registration of your mortgage bond. The amount is fixed according to the amount of your home loan.

Below is a guideline to the costs. The actual amount will vary from attorney to attorney.

Ghostconvey May 2017 Tables of Costs