Transfer Costs


Transfer Costs

The fees associated with any conveyancing transaction are unique to that specific transaction.
For a more comprehensive estimate of fees and other costs associated therewith, please contact either Michelle or Jennifer at Richard Evans & Associates (031 – 764 0773).

PURCHASER’S ADDITIONAL COSTS

• Rates Clearance Certificate fee

• Pro rata rates for clearance

• Levy Clearance Certificate fee (if applicable)

• Pro rata levies for clearance (if applicable)

• FICA Compliance fee

• Windeed Search fees

• Notarial Deed fee (if exclusive use area / servitude is applicable)

• Bond Initiation fee (if applicable)

• Postages and Petties



SELLER’S ADDITIONAL COSTS

• Estate Agent’s Commission

• Pest Clearance Certificate fee (and treatment if applicable)

• Electrical Compliance Certificate fee (and repairs if applicable)

• Gas Compliance Certificate fee (and repairs if applicable)

• Electric Fence System Certificate fee (and repairs if applicable)

• Pro rata rates for clearance

• Pro rata levies for clearance (if applicable)

• Bond Cancellation Costs (if applicable)

NOTE FOR SELLER IN RESPECT OF BOND CANCELLATIONS:
As soon as you have signed a sale agreement, contact your bank and tell them that your bond will need to be cancelled.
Most banks charge an early termination penalty fee if they are not notified timeously. This fee is dependent on what amount is owed on your bond.
The costs associated with any transaction are unique to that specific transaction.
For a more comprehensive estimate of costs, please contact either Michelle or Jennifer at Richard Evans & Associates (031 – 764 0773)

Sale Agreement is concluded

It is preferable for an attorney to go through any agreement of sale before you sign it (whether you are the purchaser or the seller) in order to avoid having unexpected or problematic issues arise after signature. Please contact either Michelle or Jennifer at Richard Evans & Associates (031 – 764 0773). in order to assist you in this regard.

Conveyancers are instructed to attend to the transfer
Usually the seller appoints the conveyancers. However, nothing precludes a purchaser from doing so, if the seller agrees.
FICA
Conveyancers will ask for both the seller and purchaser’s FICA information and documentation. This will include certified copies of identity documents, proof of residence, marriage certificates, antenuptial contracts and income tax reference numbers.
Pro forma costs
Conveyancers will ask for payment of pro forma costs from purchaser.
Transfer documents
Conveyancers will apply for clearance certificates and a transfer duty receipt (if applicable), and prepare the transfer documents for signature by both the seller and the purchaser.
Simultaneous transactions
Conveyancers will liaise with the seller’s bond cancellation attorneys (if applicable) and the purchaser’s bond registration attorneys (if applicable) in order to secure payment of the purchase price and any amount owing on the seller’s bond. The transfer, bond cancellation and bond registration will all be registered in the Deeds Office at the same time.
Lodgement and registration
Once all of the documents are lodged in the Deeds Office, it will take approximately 10 working days before the transfer is registered. The new deed will be released from the Deeds Office about 4 weeks after registration.
Time Period
This entire process takes approximately 6 – 12 weeks depending on the nature and complexity of the transaction. Please bear in mind that the conveyancers will need to deal with and rely on third parties for certain information and documentation required for lodgement (e.g.: municipality, SARS, body corporate, association, etc.).