There are some administrative setup fees involved in processing your home loan application. to you, the Deeds Office, estate agent etc.) to register the property in your name. The registering (bond) attorney will charge you a small fee for the postage of all necessary documents (i.e. Your bond will have to be registered at the same time as the seller’s bond is cancelled and the transferred is registered with the Deeds Office. ![]() This fee is a fixed amount based on the amount of your home loan and is paid to the Deeds Office before the registration of your bond. You can expect to pay a once-off fee to the Deeds Office for the legal registration of your home loan. This fee amount is determined on a sliding scale, based on the value of the property. Conveyancing costsĬonveyancing attorneys are paid a fee for registering and transferring a title deed into a buyer’s name. There’s no transfer duty paid on properties of R1 million or less, for example different tax thresholds then apply to the transfer of properties of more than R1 million, calculated according to the price range of the property. ![]() The transfer duty amount you’ll be expected to pay depends on the purchase price of the property. No property transfer will be recognised until this fee is paid to the state. This fee is paid directly to a transferring attorney, who is then responsible for paying it across to the South African Revenue Services, on the buyer’s behalf, before the transfer of the property goes through. This is the government tax levied for transferring a property from a seller’s name to a buyer’s name. ![]() Taxes and fees you can expect to pay when buying a property include: Transfer duty The estimated costs of buying a home include a number of once-off fees, many of which are legal or administrative costs, for which you need to be financially prepared. It’s important to understand the full cost implications of purchasing property.
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