The buyer of the property pays transfer duty to SARS.
Transfer duty is a tax on the transfer of property. The buyer pays the conveyancing attorney for the transfer of property, followed by a tax on that transfer.
However, transfer duty only applies for properties worth more than R1 000 000.
The buyer is also exempt from transfer duty if they acquired the property through marriage, divorce, or inheritance.
You can use our Transfer Cost Calculator to determine the transfer fees and transfer duty owned.
Transfer duty and transfer fees are two of the additional expenses a buyer must pay, aside from the cost of the home loan. Get prequalified with ooba Home Loans so you can determine what you can afford on a home loan. This will help you budget for additional costs.