When purchasing a property there are several costs which need
to be taken into account, and which are over and above the purchase
price.
You can view the purchase costs details below or use our handy
PURCHASE
COSTS CALCULATOR to assist you.
Transfer duty
Transfer duty is calculated as a percentage of the purchase
price, levied by the government and is payable to the Receiver
of Revenue prior to the transfer of a property.
It is calculated as follows:
A) COMPANIES, TRUSTS &
CC’S
-
8% OF THE PURCHASE PRICE
B) NATURAL PERSONS
-
IN THE FIRST R500 000 OF PURCHASE PRICE
- 0%
R500 001 – R1 000 000
- 5% (R25 000)
R1 000 001 AND ABOVE
- R25 000 + 8%
Conveyancing fees
Conveyancing fees is the fee charged by the attorney appointed
by the seller to attend to the transfer of the property to the
puchaser. It is calculated as a percentage of the purchase price
plus VAT.
Deeds office
The deeds office charges R500 per transaction lodged with
the Registrar.
Posts and petties
A fee of approximately R500 is normally charged by the attorney
attending for extras including Deeds searches, correspondence
with parties of the contract, liasing with attorneys linked
to the transaction, etc.
Bond registration costs
Bond registration costs are payable to the bond registration
attorney for registering the bond. It is calculated as a percentage
of the bond to be registered, plus VAT.
This cost is covered by THE BOND CO. when using our services.
