| Deeds Office Levies |
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Fee for registering of Title Deeds paid to transferring attorneys
A transfer of land which the purchase price:
Fee for registering of home loan paid to registering attorneys
A bond of which the amount : |
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| What is an Initiation Fee ? |
| An amount that the bank may charge as part of the principle debt. This amount may currently not exceed R5000.00 (exclusive of VAT). |
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| What is the Bond Registration Fee ? |
| Where home loan finance is utilised, there is a registration fee payable to the registering attorney to register the home loan. These fees are determined according to a prescribed guideline and vary depending on the size of the home loan registered |
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| What is Transfer Duty ? |
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This is a government taxation which applies in every case except where the seller is a registered VAT vendor (an example being a property developer). It is calculated as a percentage of the purchase price and varies depending on the purchaser's legal status. As of 1 March 2006 the transfer duty is as follows : For a legal person it is 8% For a natural person the calculation is as follows : |
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| What are Transfer Fees |
| These are costs payable to the transferring attorney for transferring the property into your name and are calculated on a regulated sliding scale based on the purchase price. The fee attracts VAT and is the same for a natural or legal person. |
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