TRANSFER DUTY


This is a government Tax and is pre-determined with each tax budget year.
 
Calculated as Follows :

Property Value R0 – R500,000	Nil
Property Value R500,000 – R1000,000	5% of the amount in excess of R500,000
Property Value R1000,000 plus	8% of the amount in excess of R1000,000

ATTORNEY PROPERTY TRANSFER FEES


Many of the costs associated with buying a property are non-negotiable, but conveyancing fees can be negotiated with the attorney you appoint. All conveyancers work on a sliding scale of fees – the higher the value of your property, the higher the fee. Below is a rough table to give you an idea of your costs, including VAT, but make sure your agent or conveyancer gives you an estimate upfront, preferably prior to appointment.

Purchase Price	Fees	Purchase Price	Fees
Below R90,000	3648.00	R1000,000	14250.00
R200,000	5472.00	R1500,000	17100.00
R400,000	7296.00	R2000,000	19950.00
R600,000	9690.00	R2500,000	22800.00
R800,000	11970.00	R3000,000	27360.00

ATTORNEY BOND REGISTRATION FEES


The attorney bond registration fees can also be negotiated with the attorney you appoint. All conveyancers work on a pre-set sliding scale of fees – the higher the value of your property, the higher the fee. Below is a rough table to give you an idea of your costs, including VAT, but make sure your agent or conveyancer gives you an estimate, upfront, preferably prior to appointment.

Purchase Price	Fees	Purchase Price	Fees
Up to R100,000	2850.00	R1000,000	10716.00
R200,000	3420.00	R1500,000	12996.00
R400,000	5244.00	R2000,000	15276.00
R600,000	7068.00	R2500,000	17556.00
R800,000	8892.00	R3000,000	19836.00

DEEDS OFFICE FEES


The Deeds Office charges a fee for the work they undertake and you will have to have the cash available for this. They will charge you once for registering your property in your name and again for registering the bond against that property.
 
Below are tables of their costs, based on the value of the property

Property Registration Fee		Bond Registration Fee
Property Value	Fee	Bond Value	Fee
R0 – R159,000	70.00	R0 – R159,000	260.00
R160,000 – R309,000	300.00	R160,000 – R309,000	300.00
R310,000 – R509,000	400.00	R310,000 – R509,000	400.00
R510,000 – R1099,000	500.00	R510,000 – R1099,000	500.00
R1100,000 – R2099,000	600.00	R1100,000 – R2099,000	650.00
R2100,000 – R3099,000	800.00	R2100,000 plus	1000.00
R3100,000 plus	1000.00

PRO RATE RATES


From the settlement date, you are responsible for all the council, water rates and levies on a property. You may have to reimburse the previous owner on a pro rata basis for any payments they have already made. Your agent or conveyancer will work these out for you. Essentially, the rate must be paid in full until end of June by the seller for the sale to take place and you must pay your portion thereof – If you for example will be taking owernership of the property on the first of May, you will be responsible for two of the twelve months.

To view an Extract of the Municipal Rates Policy or Download the Municipal Rates Info Sheet go here
 
BOND CANCELLATION FEES


If you have an existing bond on another home that is being sold, there will be bond cancellation fees to pay, as well as penalties for early cancellation, if you do not give sufficient notice. This is roughly R850.00 for cancellation fees and the penalty is generally 3 months interest which is a few thousand rand. This will normally be deducted directly by the conveyancer from the proceeds of your sale and paid over. See the page on the fees charged by the different banks.
 
APPRAISER FEES


If you appoint an appraiser you will obviously have to incur this cost. The bank however will appoint an appraiser of their own to ensure that the value of the house is correct and you will have to pay for this. This will be approximately R3000.00. They might request payment of this and other sundry fees upfront but normally add these to your bond account.
 
BOND INITIATION COSTS


Most banks are charging a fee for initiating the bond and this can vary from R600 to R900. When applying or working through your bond originator, make sure you find out. There are instances, where they might want this payment upfront but in most instances, this will simply get added to your bond account
 
HOUSE INSPECTIONS


If you are having a professional huose inspection done, whether part of the suspensive conditions of the contract or not, you will have to have this money ready. In all probability, the inspection company will not release the report until paid. This will be anything from R1000 to R3000

OTHER INSPECTIONS


You might have decided to do a pest or borer beetle report at your own cost - these will cost you around R800 each.
 
SUNDRY CONVEYANCING COSTS


If you have lost your title deed, your attorneys will obtain a copy for you – for a fee of around R550. If you required a title search to satisfy yourself as to who owns the property and what restrictions and conditions are in the title deed – you will pay a fee of around R550.00. If the propert boundaries were obscure and you wanted to do a survey to make sure of exactly where the boundary lays – look to paying around R500 for a Survey.
 
CONVEYANCING ADMIN COSTS

Posts and Petties	456.00	These are estimated costs based on normal fees charged historically by conveyancers. They might differ slightly. NOTE. These costs will be charged once for property registration and once for bond registration.
Document Generation Fee	114.00
Aktex Fee	91.20
Bond Electronic Link Fee	100.00	A once off fee for the Bond Registration

SECTIONAL TITLE ADDITIONAL COSTS


1) Your attorney will have to obtain a Levy Clearance Certificate at a cost of R550.
2) They will also obtain on Insurance Clearance Certificate – cost R550
3) If there is an exclusive use section, e.g. a garage, then add R1900.00 to the costs.

NB - These are estimates based on current tables and might have changed in the interim. Please contact us about obtaining a detailed quote from a Conveyancer

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