Transfer costs are paid by the buyer, to the conveyancing attorney, who is appointed by the seller to transfer the property to the buyer’s name.
So he or she is appointed by the seller but paid by the buyer.
You can find out how much transfer costs you’ll have to pay on a property purchase using our Transfer Cost Calcuator.
The buyer also pays transfer duty, a tax on the transfer of property process, although this only applies to properties worth more than R1 000 000.
It helps to know what you’re likely to pay on a property so you can budget for additional expenses such as transfer costs and bond registration. Get prequalified with ooba Home Loans to determine what you can afford, and take it from there.