What are the costs involved in buying and selling immovable property? - Abrahams & Gross Attorneys

The process of buying or selling property can be rather overwhelming, more so, when you do not know what to expect.

Below is a list of expenses which may arise for both the seller and purchaser to assist you in preparing for the unknown.

The buyer is liable for:

  1. Transfer Fees (payable to Transfer Attorneys)
  2. Transfer Duty (tax payable to SARS) or VAT
  3. Bond registration Fees*
  4. Home-Owners Association Consent Fee *
  5. Body Corporate levy clearance Fee *
  6. Costs in terms of special bond conditions *
  7. Occupational interest *
  8. Special Levies imposed by a Body Corporate before transfer

The seller is liable for:

  1. Agents commission
  2. All appropriate and necessary certificates of compliance, eg, Electrical Certificate
  3. Bond Cancellation fees *
  4. Penalty Bond Interest *
  5. Advanced rates clearance figures
  6. Levies/Special Levies
  7. Capital Gains Tax *
  8. Home-Owners Consent*
  9. Certified Copy of misplaced Title Deeds *

*if applicable

Speak to a conveyancing expert

For any enquiries related to your property and transfer proces, please contact our experienced Conveyancing and Property Law team.

For Conveyancing and Property Law expertise

Nicholas Hayes             nicholas@abgross.co.za

Marita Swanepoel        marita@abgross.co.za

Farzanah Mugjenkar    farzanah@abgross.co.za

David Kagan                  dgkagan@abgross.co.za

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Disclaimer

The articles on these web pages are provided for general information purposes only. Whilst care has been taken to ensure accuracy, the content provided is not intended to stand alone as legal advice. Always consult a suitably qualified attorney on any specific legal problem or matter.