Costs in Conveyancing
Category Advice
Article Provided by Leanne Jooste, B Law Inc. Attorneys
Seller pays for:
- Estate Agent's commission;
- All applicable compliance certificates (i.e. Electrical Certificate / Gas Certificate);
- Bond cancellation fees (if applicable);
- Advanced rates clearance figures Levies up to date of transfer;
- Special Levies imposed by a Body Corporate before transfer:
- If payable in a lump sum, or
- If payable in instalments, then the Seller pays up until the date of transfer 90-day penalty interest if a bond must be cancelled
- Capital Gains Tax (if applicable) Home Owners Consent (if applicable).
Purchaser Pays for:
- Transfer fees (payable to the Transfer Attorneys);
- Transfer duty (tax payable to SARS) or VAT;
- Bond registration fees (payable to the Bond Attorneys);
- Body Corporate levy clearance fee (if applicable);
- The costs of complying with special bond conditions (if applicable) ;
- Occupation interest pending transfer (if any); and
- Special Levies imposed by a Body Corporate before transfer if payable in instalments, then the Buyer inherits the balance on a pro-rata basis as from the date of transfer.
De Lucia Group has been servicing the property industry for over 45 years. Contact us to ensure you get the best advice for all your property-related queries. Michael De Lucia - michaeldl@delucia.co.za
The information contained herein is not intended to constitute advice and shall only be relied upon by you at your own risk. De Lucia Group does not guarantee the accuracy or completeness of any information posted in this newsletter or otherwise. Any information relied upon by you should be independently verified for accuracy. De Lucia Group reserves the right to change the content distributed or published without prior notice.
Author: De Lucia Group
