What are transfer fees?
Once your bond has been granted you will be required to pay the below fees to attorneys:
- Costs to register the bond
These bond Registration costs will be paid to Bond Attorneys
- Costs to transfer the property
Property Transfer costs will be paid to Transferring Attorneys
A portion of the transfer costs is the Transfer duty.
This is a tax on the transfer which is paid to SARS
Do I have to pay these costs?
You will always have to pay bond registration costs and attorneys charges. If your property costs less than R900 000, you will not be required to pay transfer duty.
When buying a newly built home from a developer, you will not need to pay transfer fees, but bond registration costs are still required and you will be liable to pay these to the Bond Attorneys.
If you are purchasing a second hand property, you can estimate your transfer duties by viewing the SARS website here
Can I negotiate these costs?
You may be able to negotiate your Bond Registration and Transfer Costs. If you are purchasing a home within Kidds Beach Green Estate, you will enjoy a discounted rate through our selected attorneys. You can save as much as 20% on these fees.
Transfer duty, which is handled by your transfering attorney, is paid to SARS and can’t be negotiated.