Fees, Levies and Duties

The purchase of property is levied by the government in terms of raising transfer fees and there are also legal and admin costs for the registration of the home loan. Most of these costs are due upfront, before transfer of ownership can take place. Use this simple guide to calculate the costs so that you can have the funds available in time.

The Registering Attorneys Fees are for the service of registering the bond over the title deeds of the property. The amount varies according to your home loan amount. The fee is based on the tariffs as recommended by the Law Society, but may differ as applied by the Registering Attorney.

Note that the Attorneys Fees are always subject to VAT being added.

The Attorneys charge a levy to cover the costs of posting documents to other conveyancers, the bank, estate agents, the Deeds Office, to you personally, etc. The amount is normally fixed and differs per law firm. The current average is R550 excl. VAT, and can be different per law firm.

The Deeds Office also charges a fee for the legal registration of the mortgage bond over the property. The amount is determined by the amount of the home loan and is scaled from a minimum of R200 to a maximum of R1000.

The Transfer Duty charged for individual persons by the Deeds Office is 0% for purchase price up to and including R500 000 and thereafter 5% for purchase prices up to and including R1 000 000. For a purchase price R1 000 001 and over the Transfer Duty is R25 000 plus 8% on the value over R1 000 000.

Legal persons pay a flat fee of 8% of purchase price in terms of Transfer Duty.

Cost Calculator Click here to calculate costs on a bond