transfer costs of property in south africa

PROPERTY TRANSFER COSTS IN SOUTH AFRICA

It is very exciting buying a home, whether it’s your first or your next. However, buying a property and signing the Offer To Purchase can also be stressful. To avoid causing any unnecessary additional stress, it’s important to know what costs you’ll incur when you buy a house, above and beyond its asking price. As a rule of thumb, you should allow for between 8% and 10% of the purchase price of the property for all the other costs involved in purchasing a property. These costs will include bond registration fees, transfer duty, transfer costs, and other legal fees.

When purchasing a property, there is often confusion regarding the distinction between transfer duty and transfer costs. Let’s start by explaining what they are and what you could expect to pay.

What are transfer costs?

The transfer fees are paid to a transferring attorney, who is appointed by the seller to transfer ownership of the property to the buyer. These costs are payable by the buyer and will vary, depending on the property purchase price. It will also be made up of the conveyancer’s fees, such as postage and petties, plus VAT. Usually, the attorneys will provide the buyer with a breakdown of their costs at the inception of a transaction in the form of a proforma account.

What is transfer duty?

Transfer duty is a tax levied on the sale of a fixed property acquired by any person by way of a transaction or in any other way. These costs are payable by the buyer to the SA Revenue Service (SARS) when the property is transferred from the existing owner to the new owner. Transfer duty is not to be confused with the transfer of property cost. Transfer duties only apply to properties worth more than R1 000 000. From 1 April 2011, all Transfer Duty must be paid electronically via eFiling. This will normally be done by a Conveyancer, who acts on your behalf.

How much is the current transfer duty?

The transfer duty rates applicable on property, as of March 2022 to February 2023 according to SARS is as follows:

How are transfer costs calculated in South Africa?

Transfer costs vary depending on the purchase price. They are equal to the conveyancing attorney’s fees plus VAT. You can use a BetterBond’s bond and transfer cost calculator to determine your transfer costs. For example, on a home loan of R1 000 000 at an 8.25% interest rate over 20 years, it would be R30 753.00 (including VAT). Keep in mind that there will be additional bond registration costs for those who are purchasing through home finance. These amounts can also be found on BerrerBond’s website.

Can transfer fees be included in a bond?

There is the option aimed at first-time buyers of a 105% bond, in which the extra 5% covers additional costs, including the transfer and bond registration costs. That means that, although you won’t have to pay a deposit or transfer and bond registration costs upfront, these costs will be added to your loan amount so your monthly repayments will be higher as a result.

What are the conditions for me to be exempt from transfer duty?

As mentioned, transfer duty is not applicable on a property that cost less than R1 000 000. Apart from this, there are some other conditions where you will be exempt from transfer duties:

  • Marriage In Community: If someone who owns a property gets married in community of property, his or her spouse will automatically become the owner of a half-share of that property, without paying the transfer duty.
  • Inheritance: Beneficiaries and heirs are exempt from paying transfer duty on property they inherited from a deceased estate, irrespective of whether or not the deceased died without a valid will and regardless of the nature of their relationship with the deceased.
  • Divorce: If a property is awarded to a spouse in terms of a divorce order, transfer duty does not apply. The exemption applies to all marital regimes and to civil unions. If the parties reach an agreement outside of the formal divorce proceedings, the spouse who acquires the property will be liable for transfer duty.
  • Cancelled transactions: If a property purchase is cancelled before the transfer is registered at the Deeds Office, there is no liability for transfer duty if SARS is satisfied that the cancellation is legitimate.

What if the transaction is on condition of the sale of your current home?

It is a South African law that transfer duty on any sale must be paid no later than 6 months from the date of conclusion of the deed of sale. Under normal circumstances, this condition is not worth worrying too much about as most homes take around 3 months to sell and another 3 months for the transfer to go through, all of which will fall within the stipulated 6-month period. However, if this isn’t the case, the buyer will have to ensure that the transfer duty is paid within the 6 month period.

Keep In Mind

Before you make an offer on a property, you should work out how much the transfer duties and bond registration costs will amount to, as these amounts will be payable upfront after the OTP has been accepted. You can do the calculations on BetterBond's website. For further assistance in acquiring your dream home, contact the knowledgeable real estate professionals at your nearest RE/MAX Office.

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The purchase price is not the only expense that buyers will incur

Category Property Advice

When purchasing a property in South Africa, it is essential to understand that the purchase price is not the only expense that buyers will incur. Along with the purchase price, there are several additional costs that are involved in the transfer of ownership from the seller to the buyer. These costs are collectively known as transfer costs and can be a significant expense, often requiring up to 10% of the purchase price to be set aside.

What are transfer costs?

Transfer costs are the fees associated with the transfer of ownership of a property from the seller to the buyer. These costs are payable by the buyer and are typically a percentage of the purchase price of the property. The fees associated with transfer costs can vary based on a range of factors, including the value of the property , the type of property, and the location of the property.

The responsibility for paying transfer costs rests with the buyer and must be settled within six months from the date of acquisition. Failure to pay within this timeframe will result in interest being charged at a rate of 10% per year for each completed month, starting from the first day after the expiry of the interest-free period to the payment date. In the case of conditional sales, the six-month period begins on the date the transaction was entered into, not when the contract becomes binding, meaning the period starts on the last date of party signature to the agreement, not the date the conditions are met.

What are the current transfer duty rates?

Transfer duty is a tax levied by the South African government on the transfer of property ownership from the seller to the buyer. This tax is calculated as a percentage of the purchase price of the property and is payable by the buyer. The payment for transfer duty is made to either the estate agent or conveyancing attorney responsible for transferring the property into the buyer's ownership. In South Africa, it is the seller who appoints the conveyancing attorney, though the cost is still borne by the buyer. Negotiating fees with the conveyancing attorney can be challenging, but buyers can suggest their own attorneys.

As of March 2023, the transfer duty threshold sits at R1 100 000 which means that properties valued below R1 100 000 are not subject to any transfer costs.

These costs will apply to properties purchased after March 1, 2023:

  • From R1 100 001 to R1 512 500, the transfer duty is calculated at 3% of the value above R1 100 000.
  • From R1 512 501 to R 2 117 500, the transfer duty is calculated at 6% on the value above R1 512 500 PLUS a flat rate of R12 375.
  • From R2 117 501 to R2 722 500, the transfer duty is calculated at 8% on the value above R2 117 500, PLUS a flat rate of R48 675.
  • From R22 722 501 to R12 100 000, the transfer duty is calculated at 11% of the value above  R2 722 500 PLUS R97 075.
  • From R12 100 001 and above, the transfer duty is calculated at 13% of the value exceeding R12 100 000 PLUS R1 128 600.

What are conveyancing fees?

Conveyancing fees are the fees charged by the conveyancer for handling the transfer of ownership from the seller to the buyer. These fees are typically based on the purchase price of the property and cover the conveyancer's time and expertise in facilitating the transfer.

Conveyancing fees can vary depending on the complexity of the transfer and the location of the property. However, it is common for conveyancing fees to be between 1% and 2% of the purchase price.

When buying a property , you are required to pay transfer fees to the conveyancing attorney who facilitates the transfer of ownership from the seller to you. These transfer costs cover the attorney's fees and the transfer duty payable to SARS. To avoid paying transfer costs upfront, you have the option of applying for a 105% home loan which includes the transfer and bond registration costs in the monthly repayments. 

If you're interested in buying or selling property in South Africa, including the sought-after Atlantic Seaboard region, contact Knight Frank today to get started.

Author: Knight Frank

Cape Town , Western Cape

transfer costs of property in south africa

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How Much Is the Transfer Cost on a House?

How Much Is the Transfer Cost on a House?

The transfer cost varies, depending on the purchase price and the conveyancer's fees plus VAT, as well as the bond costs and transfer duty payable to SARS. Find out the estimated costs of buying a property, when to pay, who to pay, and what the money is used for.

What Is Transfer Duty ?

When buying a home, it’s important to remember that the price tag on the property is not all you’re going to have to budget for. It’s best to have between 8 and 10% of the purchase price put aside for other purchase expenses, including bond costs and transfer duties. Transfer Duty is a government tax levied to transfer the property from the seller's name into the buyer's name.

According to SARS , the transfer duty is the tax levied on the value of any property acquired by any person by way of a transaction - or any other means. Transfer duty applying to property refers to land and fixtures, including real rights in land, rights to minerals, a share or interest in a residential property company, or a share in a share block company. 

Who Pays the Transfer Cost and When?

The burden of property transfer costs falls on the shoulders of the buyer and is payable within six months from the date of acquisition. If the buyer fails to pay the transfer costs within this timeframe, interest will be added at a rate of 10% per year for each completed month – which is calculated as the first day from the expiry of the interest-free, six-month period to the date of payment. 

It’s important to note that, in the case of conditional sales on a home, the six-month period starts on the date that the transaction was entered into, not the date when the contract becomes binding. This means the period starts on the last date of the party signature to the agreement, not the date the conditions are fulfilled. 

Who Do You Pay the Transfer Duty To?

The transfer costs are paid to the estate agent or conveyancing attorney who is responsible for the transfer of the property into your ownership. In South Africa, it is actually the seller who gets to appoint the conveyancing attorney, while the cost is still covered by the purchaser. This makes negotiating fees with the conveyancing attorneys trickier, however, there is nothing stopping the buyer from putting forward suggestions of conveyancing attorneys. Just take note that the conveyancing attorney’s fees are separate from the transfer duty costs. 

How Do You Calculate the Transfer Cost?

SARS is responsible for determining the transfer duty amount, and this is calculated according to the value of the property – not the selling price . However, in most cases, the selling price of the property will represent the property value, so it’s easier to work out an estimate. Red flags for SARS will be when a property is being sold within a family, where the selling price could possibly undercut the actual value. Use our transfer cost calculator to get a useful estimate. 

What Are the Transfer Duty Rates ?

Before March 2020, the transfer duty threshold was limited to properties of R900 000. However, the transfer duty threshold has since been lifted to R1m, which means that properties valued below R1m are not subject to any transfer costs . 

The Transfer Duty Rates for 1 March 2020 to 28 February 2021

These costs apply to properties that were purchased after 1 March 2020 over R1m in value. 

From R 1 000 001 to R 1 357 000, the transfer duty is calculated at 3% of the value above R 1 000 000. 

From R 1 375 001 to R 1 925 000, the transfer duty is calculated at 6% on the value above R 1 375 000 PLUS a flat rate of R 11 250.

From R 1 925 001 to R 2 475 000, the transfer duty is calculated at 8% on the value above R 1 925 000, PLUS a flat rate of R 44 250.

From R 2 475 001 to R 11 000 000, the transfer duty is calculated at 11% of the value above R 2 475 000 PLUS R 88 250.

From R 11 000 001 and above, the transfer duty is calculated at 13% of the value exceeding R 11 000 000 PLUS R1 026 000.

What Are Some of the Exemptions to Transfer Duty ?

There are certain instances where transfer duty is not required on a property transfer . Here is a look at some of the exemptions.

When a Property Is Subject To VAT

No transaction, under South African law, can be subject to both VAT and transfer duty . When it comes to property transfer s, VAT will take precedence over transfer duty. You will usually encounter VAT payments in new developments, whereby no transfer duty costs are charged and the VAT is factored into the property price. However, make sure this is clarified before any agreement is entered into. 

In the Instance of Divorce

In the case of a marital or civil union divorce, where a property is awarded to a spouse in terms of a divorce order, then no transfer duty is required. However, where a property is awarded to a spouse in an agreement outside of divorce proceedings, transfer costs still apply. 

Marriage in Community of Property

When two people enter into marriage in community of property and a house is purchased, the spouse is awarded half the share of the property without requiring to pay transfer duty . 

Cancelled Transactions

When a property purchase is cancelled before the registration of the transfer at the Deeds Office , SARS can deem the cancellation legitimate and will not charge transfer duties. 

Property Inheritance 

In the case of a death, the beneficiaries of the deceased are not required to pay transfer duties on properties. This applies no matter what the relationship to the deceased, or whether a valid will is in place. 

What Extra Costs Are There When Buying a House?

Outside the transfer duties and conveyancing attorney ’s fees, buyer s should also factor in a number of other costs related to home ownership (which can be worked out through an extra cost calculator ). These could include:

If you’ve chatted to homeowners who’ve bought recently, you will notice a trend that has emerged -  it’s very difficult to qualify for a 100% home loan. If you’re considering buying a property, the current advice is to start saving for a deposit, which should be around 10 to 30% of your anticipated purchase price . Paying a deposit upfront is not only a better way to ensure you qualify for a home loan, it’s a good way to reduce your monthly instalments on the bond. Work out how much you save using a deposit savings calculator . 

When is the deposit paid?

The deposit will be made in advance to the transferring attorneys who will hold the funds in a trust account until registration of the bond. As soon as the registration is made, the deposit is paid to the bank, and the interest accrued on the deposit amount is transferred to you. 

Bond Registration  

When buying a house with a home loan, you’ll also need to factor in the fees related to bond registration which includes the registration cost of the property, the registering attorney’s fees, and the levy charged by the registering attorney (for postage and sundries).

Bond Repayment s or Occupational Rent

If you take occupation before the property has been transferred into your name, you’re liable to pay occupational rent which is agreed up in the offer to purchase. Once the property has been transferred, however, you will then start your monthly bond repayment s which are often tied to a 20-year home loan period. Use a bond calculator to work out these costs. 

What Are Some Other Costs of Home Ownership?

Building and household insurance – This provides insurance against any damage to your property or theft of household goods. 

Bond insurance – This is a form of life cover that provides for bond repayment in any event. 

Rates and taxes – This will depend on the property value and location and should be considered before any purchase is made.

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To see tax rates from 2014/5, see the Archive – Tax Rates webpage.

2025 (1 March 2024 – 28 February 2025) –  No changes from last year:

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transfer costs of property in south africa

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WHO PAYS FOR WHAT IN THE PROPERTY TRANSFER PROCESS?

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transfer costs of property in south africa

TRANSFER COSTS DEMYSTIFIED  

Buying or selling property is a very important financial decision in the life of most people. The process of buying or selling a property remains daunting and somewhat mysterious,   and as the costs involved are significant, this is an important factor. At FHA we believe in keeping our clients informed so that they can make sound decisions. So, who pays for what when purchasing and selling a property in South Africa?  

The Golden Rule – the Purchaser bears the costs of transfer when buying a property.

Exception to this Rule – the Seller is liable for, inter alia , estate agents’ commission, bond cancellation costs and the costs associated with the compliance certificates.

Let’s take a look at these costs for the Seller and the Purchaser in more detail below…

The Purchaser is liable for all the usual costs relating to the transfer of the property in terms of the sale agreement.   We have included below an example of a pro forma account which is presented to a Purchaser when signing transfer documents. This account is dependant on the value of the property and the deeds office fees, rates at which transfer duty is calculated, and transfer fees are all prescribed annually. Our useful transfer and bond cost   calculator   www.fha.law.za/costcalculator  will allow you to obtain cost indications at your particular purchase price or bond value.

transfer costs of property in south africa

The Seller is also liable for certain costs in the transfer process. These include payment to the Estate Agency of the commission due, the costs of obtaining the Compliance Certificates (electrical, water, gas, electrical fence and beetle, where applicable). The seller will also need to pay the municipal account upfront and in advance so that a clearance certificate can be obtained.  

The Estate Agent’s commission is negotiated by the Seller with the agent and paid from the proceeds of sale to the estate agency on transfer.  

Should the Seller have a Bond that is to be cancelled the Bank will appoint attorneys to attend to the cancellation thereof and settlement of any amounts outstanding.

Below is an example of a draft final account sent to a Seller on registration of transfer.

transfer costs of property in south africa

Please contact us should you have any further queries with regards to who pays for what in the transfer process.

transfer costs of property in south africa

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Understanding transfer duty

Understanding transfer duty

Transfer duty is a tax levied on the value of any property acquired by any person by any means. So, whether you buy a property from a seller or acquire it in any other way, you will have to pay SARS the tax due. There are exceptions to this rule which are discussed below.

According to SARS: “For the purpose of transfer duty, property means land and fixtures and includes real rights in land, rights to minerals, a share or interest in a residential property company or a share in a share-block company.”

Transfer duty should not be confused with the property transfer costs. Property transfer costs are the fees paid to the conveyancing attorney who attends to the property transfer from seller to buyer, whereas transfer duty is a tax payable to SARS.

Rate of tax

Transfer duty is only payable on the transfer of properties valued at more than R1 million. If the property you are buying is worth less than R1m, you will not be liable for transfer duty. However, you will still have to pay transfer costs to the conveyancer.

If the property you are buying is worth more than R1m, you will only be liable for transfer duty on the amount above R1m.

Transfer duty is payable within six months of the date of acquisition of the property, and failure to make payment timeously will result in penalties. However, the conveyancing attorney responsible for transferring the property into your name will usually deal with this. SARS issues transfer duty tables each year, with details of the amounts due on the transfer of properties of different values.

These are the transfer duty rates applicable from March 2022 to February 2023.

Property transfers are exempt from transfer duty in the following circumstances:

Marriage in community of property . If a property owner gets married in community of property, their spouse automatically becomes the owner of a half-share of the property without needing to pay any transfer duty.

Divorce . Transfer duty does not apply where a property is awarded to a spouse in terms of a divorce order. This exemption applies to all marital regimes as well as civil unions. However, if the property is not awarded to a spouse in terms of a divorce order and the parties reach an agreement outside of the formal divorce proceedings, the spouse who acquires the property will be liable for transfer duty as well as any transfer costs payable to the conveyancers.

Inheritance . Beneficiaries and heirs are exempt from paying transfer duty on property they inherit from a deceased estate. This is regardless of the nature of their relationship with the deceased and irrespective of whether or not the deceased died intestate (without a valid will). In this instance, heirs and beneficiaries still need to pay the conveyancing attorney’s costs of transferring the property into their name.

Cancelled transactions . If the purchase of a property is cancelled before the transfer is registered at the deeds office, there will be no liability for transfer duty. The provision is that SARS must be satisfied that the cancellation is legitimate.

Developers usually offer homes for sale in new developments with no transfer duty payable – irrespective of the property’s value. Instead, buyers pay Value Added Tax (VAT) on these homes, but this is usually included in the purchase price of the unit.

By law, a transaction may not be subject to both VAT and transfer duty. However, when it comes to property transactions, the payment of VAT will always take precedence over that of transfer duty, where the seller – usually a developer - is a VAT vendor.

When you buy a property, check to see if the sellers are registered for VAT. If they are, then VAT will be payable on the property purchase and not transfer duty.

Transfer duty and property transfer fees are additional costs you need to budget for when buying a home. Be sure your finances are in order, and don’t be caught unawares.

Writer : Sarah-Jane Meyer

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Bond and transfer cost calculator help

The more information you can provide, the more accurate your estimate will be.

Purchase Price

The purchase price of your new home will determine the size of your bond and the transfer costs payable.

Bond/Loan amount

The purchase price will determine the loan amount and therefore the bond costs, as well as the transfer costs, which are payable to the transferring attorneys.

Interest rate

This bond and transfer cost calculator uses the current interest rate, but the rate could change, based on factors like your credit profile and whether you'll be paying a deposit upfront.

Repayment Term

This bond and transfer cost calculator use a term of 20 years (240 months), which is the most common home loan term, but you can change the timelines to see varied results.

Total bond and transfer cost

The cumulative cost of registering your new bond and transfering the property into your name.

Bond registration cost

Fees for the services of registering (bond) attorneys to get your bond registered over the Title Deed of the property.

Bond deeds office fees

Fees published in the Government Gazette and based on the bond amount.

Post, petties, FICA, other fees

Costs incurred during bond registration and transfer, including telephone, postage, courier, administration and bank charges.

Bank initiation fee

Fee charged by the banks to open your home loan account, which is essentially a bank account.

Transfer duty

The government's acquisition tax that you pay to transfer a property into your name. There is no transfer duty on property valued up to R1 million.

Property transfer costs

Not the same as transfer duty, transfer costs cover the transfering of the property into your name, and are payable to the transferring attorneys.

Transfer deeds office fees

The fees for registering a property transfer to your name at the Deeds Office.

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Conveyancing fees in 2022: This is what you’re paying for

Once you find your dream home, and put in an offer that’s accepted, you’ll need a conveyancing attorney to transfer property ownership to you. this is what you’re paying for..

Conveyancing Fees

Article summary

  • Once you find your dream home, and put in an offer that’s accepted, you’ll need a conveyancing attorney to transfer ownership to you.
  • The conveyancing service includes preparation and gathering of all documents required to finalise registration of the sale once it is lodged with the Deeds Office.
  • It’s a complicated legal process that is worth every cent of the fee to make sure transfer happens and the new ownership is registered as is required by the government.
  • The transfer fees you pay the conveyancing attorneys are separate from transfer duty paid to SARS. Transfer duties are statutory and cannot be negotiated.

The home buying process doesn’t end with buyer and seller signing the contract. There are still a few steps after that, including the legal process of transferring ownership of the home to the buyer. Here, we explain what the process involves, and what you can expect to pay for it.

What are conveyancing fees?

Conveyancing is the process of transferring ownership of the property from one person to another, or a company or trust; and the conveyancing fees are what the buyer pays the attorney who conducts this legal process.  

The fees form part of the extra costs that come with purchasing a property, but are worth every penny, as they cover a range of services.

Conveyancing fees vs transfer duty

Note that Conveyancing fees are separate to transfer duty , which is a tax levied on the value of any property acquired by any person by way of a transaction or in any other way. As of March 2021, transfer duty is exempt for sales below R1 000 000 and is on a sliding scale thereafter.

What does conveyancing cost?

Fees are variable based on guidelines issued by the Law Society of South Africa. They are calculated on the purchase price of the property or the capital amount of the bond.

For example, a property that is sold for between R800 000 and R1 million attracts a conveyancing fee of between R19 849 and R23 667, inclusive of VAT.

You can use our Transfer Cost Calculator to determine how much your conveyancing fee (listed as transfer costs) will be.

Add to that, the conveyancing attorney will charge additional fees for every service they complete, from requesting cancellation figures to preparing relevant documentation , applying for rates clearance, transfer duty and conducting deeds office searches.

Who pays the fees?

The seller usually appoints the conveyancing attorney, but their cost is covered by the purchaser. This can make the fees quite challenging for the purchaser to negotiate and is something to keep in mind when signing your Offer to Purchase .

What does the service include?

  • The conveyancer will ensure that the Deed of Sale meets all the legal requirements. They will also gather and produce all supporting documentation necessary to finalise registration of the sale once it is lodged with the Deeds Office.
  • The information they will request includes details of the home loan, cancellation figures and title deeds from the seller’s bank as well as a Rates Clearance Certificate from the municipality.
  • They will also need to draft certain documents. These include a Power of Attorney to Pass Transfer, signed by the seller, authorising them to transfer ownership of the property. The conveyancers will have to file a declaration of marital status and solvency of both parties, noting each of their identity numbers in the document.
  • The conveyancers must also prepare a declaration for transfer duty or VAT in addition to home loan registration documentation for the buyer, as required.

How you can reduce your overall costs

A conveyancing attorney is one of the most important people in the home-buying process and is responsible for ensuring that ownership is transferred from the seller to the buyer, and that the buyer does not pay until the property is registered in their name.

Of course, conveyancing fees are something that occurs later in the home buying process. If you’re still at the stage of buying a property, we can help you get a better deal on your home loan, leading to lower interest rates and saving up money for additional costs, like the conveyancing fees.

We also offer a range of tools that can help with the buying process. Start with our Bond Calculator , then use our Bond Indicator to determine what you can afford. Finally, when you’re ready, you can apply for a home loan .

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Transfer of Property

Join LegalWise now and get access to our network of over 200 legal firms.

Date updated: July 2022

For all your property transfer answers, follow our guide below:.

  • What does the transfer of property mean?
  • What is an agreement of sale?
  • How is the purchase price of the property payable?
  • How does the transfer process work?
  • What else should a person know about the transfer process?
  • How can LegalWise assist you?

1. What does the transfer of property mean?

  • The transfer of property is when the ownership of a property is moved from one person to another person. This happens when a property is sold or when the owner of the property dies and leaves the property to another person.
  • Ownership is a right that cannot be seen, but the evidence of ownership can be found in something called a deed of transfer (“deed”).
  • This deed must be registered at the deeds office for it to be valid.

2. What is an agreement of sale?

  • When a purchaser makes an offer to buy the property of the seller, and the seller accepts the offer of the purchaser, an agreement of sale comes into existence.
  • property description, for example, if it is a house it will be described as “Erf 500 in Tyger Valley situated in the City of Cape Town…”;
  • personal information about the purchaser and seller, for example, their names and identity numbers and so on;
  • purchase price and/or deposit, if payable;
  • details of the attorney instructed to transfer the property (“conveyancer”);
  • estate agent commission payable, if any;
  • any conditions the agreement of sale is subject to, for example, the purchaser obtaining a loan (“bond”).
  • An agreement of sale will only be valid if it is in writing and signed by both the seller and the purchaser. An oral agreement of sale is not binding.
  • The agreement of sale forms the basis for the transfer of property. Without a valid agreement of sale, and compliance with the terms and conditions contained therein, there can be no transfer of property.

3. How is the purchase price of the property payable?

  • The payment of the purchase price may be made in cash or by obtaining a bond.
  • The agreement of sale may provide for a deposit being payable by a certain date. However, the payment of a deposit is not a requirement in law, rather a gesture in good faith by the purchaser.
  • When the purchaser is unable to pay the full purchase price, the purchaser can obtain a bond. The purchase price will then be secured by a bank guarantee.
  • The purchase price or bank guarantee must be given to the conveyancer, pending the transfer of the property. On the request of the purchaser, this purchase price may be invested into an interest bearing bank account.
  • Normally, the full purchase price may only be payable to the seller on registration at the deeds office.

4. How does the transfer process work?

The transfer process can take up to 3 months. There are different phases involved in the transfer of a property. These phases are:

  • Instruction: a conveyancer receives the instruction to transfer the property.
  • Communication: the conveyancer communicates with the various role-players involved in the transfer process, such as the seller, purchaser, transfer and bond attorneys, municipality, bank, South African Revenue Service (“SARS”) and so on.
  • Collection: Certain information and documents are required, such as the agreement of sale, deeds office search, existing deed, bond cancellation figures from the bank and so on. The conveyancer should continuously report to the various role-players about the progress being made.
  • Drafting and signing: As soon as all the information and documents have been collected, the conveyancer will draft the transfer documents and request the seller and purchaser to sign them. These transfer documents will include a power of attorney and various affidavits.
  • Finances: Financial arrangements include requesting an advance payment for the conveyancer’s interim account for certain expenses, requesting the bank guarantee, collecting the purchase price or deposit and so on.
  • Transfer duty: Obtaining a transfer duty receipt from SARS, confirming that the tax relating to the transfer of the property has been paid by the purchaser.
  • Clearance certificate: Obtaining a clearance certificate from the municipality, confirming that all amounts in respect of property have been paid for the last two years.
  • Prep: The conveyancer prepares for lodgement (submission) of the deed of transfer and other documents necessary for registration at the deeds office.
  • Registration: Once the deed of transfer and other documents have been lodged it, the deeds office will investigate the documents. If the deeds office is satisfied that the requirement for the transfer of property has been met, the deed of property is registered. The conveyancer will notify the various role-players of the registration.
  • Accounts: Once registered, the conveyancer makes the necessary calculations and payments relating to the sale, for example, the estate agent’s commission, purchase price and so on. The conveyancer’s final account is also drawn up and sent to the purchaser and the seller for payment.

5. What else should a person know about the transfer process?

  • Normally there are 3 attorneys involved in the transfer process, being the transfer attorney, bond cancellation attorney and bond registration attorney.
  • The transfer attorney is the conveyancer that has been instructed to attend to the transfer of the property and registration in the deeds office.
  • The bond cancellation attorney is the attorney that cancels the existing bond of the seller over the property and ensures that the bank receives the outstanding bond amount when the purchase price is paid on registration.
  • The bond registration attorney is the attorney that registers the purchaser’s bond over the property. The purchaser is responsible for his/her bond payments.
  • transfer duty to SARS;
  • rates payable to the municipality;
  • conveyancer’s interim and final account payable; and
  • fees to the relevant banks.
  • The registered deed is given to the purchaser if the property was paid for in cash, alternatively the purchaser’s bank if a bond was registered over the property.

6. How can LegalWise assist you?

If you are a LegalWise Member and require more information or advice please contact your nearest LegalWise Branch , call, e-mail or WhatsApp us. For more information about our membership options visit our legal services page or to join visit our join now page.

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The information contained on this website is aimed at providing members of the public with guidance on the law in South Africa. This information has not been provided to meet the individual requirements of a specific person and LegalWise insists that legal advice be obtained to address a person’s unique circumstances. It is important to remember that the law is constantly changing and although LegalWise strives to keep the information up to date and of high quality, it cannot be guaranteed that the information will be updated and/or be without errors or omissions. As a result, LegalWise, its employees, independent contractors, associates or third parties will under no circumstances accept liability or be held liable, for any innocent or negligent actions or omissions by LegalWise, which may result in any harm or liability flowing from the use of or the inability to use the information provided.

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Transfer Cost Calculator

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Total costs (including VAT)

* This is a once-off bank fee which you have the option of adding to your bond account. Certain lenders may charge a higher amount for juristic entities, e.g. companies and trusts. ** If the seller is a VAT vendor, there will be VAT payable on the purchase price **** Approximate post & petties as these are property specific and attorneys firm have different charges.

T & Cs apply: This estimation is provided for general information purposes. Please note this calculator does:

  • not include an amount for rates & taxes / sectional title levies and other charges that may be property specific;
  • include a bank initiation fee on your bond, which other calculators may not;

When comparing our calculator results with others, please ensure you are comparing like for like.

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Your repayment cannot be more than 30% of your gross monthly income and cannot exceed your net surplus income.

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Your net monthly income is your total income after tax and deductions.

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The bond calculator is a guideline. It does not include a credit check or full affordability assessment which the bank will require.

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IMAGES

  1. Understanding the transfer of property process in South Africa

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  2. The Property Transfer Process In South Africa Explained

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  3. What are the transfer costs when buying a house?

    transfer costs of property in south africa

  4. Property Transfer Guidelines in South Africa

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  5. How To Calculate Transfer Costs In South Africa?

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  6. How To Calculate Transfer Costs In South Africa?

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VIDEO

  1. How Non Residents Can Buy And Sell Property In South Africa

  2. Buying a house in South Africa? Costs explained in under 5 minutes

  3. Understanding the property transfer process in South Africa (first time home buyers)

  4. Property Transfer and Registration in South Africa

  5. Buying Property in South Africa as a Foreigner: Legal Requirements and Risks to Consider

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COMMENTS

  1. PROPERTY TRANSFER COSTS IN SOUTH AFRICA

    These costs are payable by the buyer to the SA Revenue Service (SARS) when the property is transferred from the existing owner to the new owner. Transfer duty is not to be confused with the transfer of property cost. Transfer duties only apply to properties worth more than R1 000 000. From 1 April 2011, all Transfer Duty must be paid ...

  2. What your transfer fees will be in South Africa

    In addition to the transfer costs, you also have to pay a fee to SARS, called transfer duty. As of 2023, properties valued below R1 100 000 are exempt from transfer duty. The higher the value of the home, the higher your transfer costs and transfer duty will be. Here's more detail so you can budget appropriately. Transfer fees: What you'll ...

  3. Property transfer costs: Everything you need to know

    The transfer of property cost includes: The transfer costs: This is paid to the conveyancing attorney and varies depending on the value of the property. The higher the value of the property, the higher the transfer cost. Transfer duty: A tax on the transfer of property payable to SARS. This also varies according to the value of the property.

  4. Transfer duty in 2023: What buying a home will cost you

    These are the transfer duty rates applicable on property, as of March 2022 to February 2023. Value of property (R) Rate. 0 - 1 100 000. No transfer duty. R1 100 000 — R1 512 500. 3% of the value above R1 100 000. R1 512 501 - R2 117 500. R12 375 + 6% of the value above R1 512 500.

  5. Understanding transfer costs and duties when buying property in South

    These costs will apply to properties purchased after March 1, 2023: From R1 100 001 to R1 512 500, the transfer duty is calculated at 3% of the value above R1 100 000. From R1 512 501 to R 2 117 500, the transfer duty is calculated at 6% on the value above R1 512 500 PLUS a flat rate of R12 375. From R2 117 501 to R2 722 500, the transfer duty ...

  6. Property Buying Costs

    As a rule of thumb, you should allow for between 8% and 10% of the amount of the purchase price of the property for all the other costs involved in purchasing a home. This amount excludes the deposit. These costs are commonly referred to as Transfer Costs or Registration and Transfer Costs and are paid by the purchaser. FYI : The costs incurred ...

  7. How Much Is the Transfer Cost on a House?

    These costs apply to properties that were purchased after 1 March 2020 over R1m in value. From R 1 000 001 to R 1 357 000, the transfer duty is calculated at 3% of the value above R 1 000 000. From R 1 375 001 to R 1 925 000, the transfer duty is calculated at 6% on the value above R 1 375 000 PLUS a flat rate of R 11 250.

  8. Transfer Duty

    Transfer Duty. To see tax rates from 2014/5, see the Archive - Tax Rates webpage. 2025 (1 March 2024 - 28 February 2025) - No changes from last year: Value of the property (R) Rate. 1 - 1 100 000. 0%. 1 100 001 - 1 512 500. 3% of the value above R1 100 000.

  9. Bond & Transfer Cost Calculator

    Transfer Costs The tax you pay to the South African government to transfer a property into your name. This tax is based on the purchase price and properties bought for less than R1,000,000 are exempt.

  10. PDF TABLE OF TRANSFER COSTS 2023

    of property Transfer fee General Disbursements VAT [15%] Deeds Office Transfer Duty Total 500 000 12 990 3 500 2 474 800 19 764 550 000 14 750 3 500 2 738 800 21 788 ... The Disbursement estimate excludes the cost, if applicable, of a levy clearance certificate and/or home owners association consent. The Bond cancellation Attorney tariff fee ...

  11. Who Pays for What in The Property Transfer Process?

    So, who pays for what when purchasing and selling a property in South Africa? The Golden Rule - the Purchaser bears the costs of transfer when buying a property. Exception to this Rule - the Seller is liable for, inter alia, estate agents' commission, bond cancellation costs and the costs associated with the compliance certificates.

  12. How Does the Property Transfer Process Work in South Africa?

    The Property Transfer Process. 1. Receive Offer to Purchase. This is a document signifying the buyer's intention to purchase the seller's property. It stipulates the terms and conditions for the sale and purchase of the property. An Offer to Purchase becomes legally binding once accepted by the seller.

  13. Transfer Duty Calculator

    Property transfer costs (incl VAT) R 0. Transfer duty ** R 0. Deeds office fees. R 0. Post, petties, FICA and other fees (incl VAT) *** R 0. CHECK CREDIT SCORE Email my results. ... national, prime interest rate, as set by the South African Reserve Bank. The interest rate offered by your bank when applying for a loan may vary. Transfer Costs ...

  14. Calculate your transfer duty

    Calculate your transfer duty using the information below. . Value of the property (R) Rate. 1 - 1000 000 . 0%. 1 000 001 - 1 375 000. 3% of the value above R1 000 000. 1 375 001 - 1 925 000.

  15. Understanding transfer duty

    Transfer duty should not be confused with the property transfer costs. Property transfer costs are the fees paid to the conveyancing attorney who attends to the property transfer from seller to buyer, whereas transfer duty is a tax payable to SARS. Rate of tax. Transfer duty is only payable on the transfer of properties valued at more than R1 ...

  16. Understanding the Transfer Duty Costs in South Africa

    The transfer duty rates in South Africa range from 0% to 13% of the value of the property. The exact amount you will have to pay depends on the value of the property. Here is a breakdown of the transfer duty rates: Value of property up to R1 million: 0% transfer duty. Value of property between R1 million and R1.5 million: 3% transfer duty.

  17. Bond & Transfer Cost Calculator

    Calculate the estimated bond and transfer costs when on a property sale in South Africa. ... The tax you pay to the South African government to transfer a property into your name. ... Atlantic Real estate cc trading as RE/MAX Living an independently owned and operated franchise of RE/MAX of Southern Africa. Registered with the PPRA CIPC REG ...

  18. Bond & transfer cost calculator

    Calculate the total bond registration and property transfer costs on your new home. | BetterBond Call us on 0800 007 111 Get started | Login | Search Pre-approve

  19. Transfer Cost Calculator

    Official website of Rawson South Africa. We help you rent, sell, or buy houses & real estate in Johannesburg, Cape Town and many more places around South Africa. ... Transfer cost Bond cost . Government costs. Transfer duty: Deeds office fee: Attorney costs. Attorney's fee: Post & petties: Electronic facilitation cost: ... We know property ...

  20. Property Calculators

    Access property calculators by Adams & Adams. Utilize our tools for accurate calculations and informed decisions in property-related matters. ... So if you're on a tight budget or need an insight into some of the bigger picture costs like transfer duties and bond registration fees, use our buying costs calculator. ... , 0081, South Africa ...

  21. Conveyancing fees in 2022: This is what you're paying for

    As of March 2021, transfer duty is exempt for sales below R1 000 000 and is on a sliding scale thereafter. What does conveyancing cost? Fees are variable based on guidelines issued by the Law Society of South Africa. They are calculated on the purchase price of the property or the capital amount of the bond.

  22. Transfer of Property Process

    The costs relating to the transfer of property are: transfer duty to SARS; rates payable to the municipality; conveyancer's interim and final account payable; and ... LegalWise South Africa (RF) (Pty) Ltd (Reg. No 1999/003661/07) is an Authorised Financial Services Provider (FSP 50292). Head Office: 604 Kudu Street, Somerset Office Estate ...

  23. Transfer Duty Calculator

    Transfer costs (incl VAT) * This is a once-off bank fee which you have the option of adding to your bond account. Certain lenders may charge a higher amount for juristic entities, e.g. companies and trusts. **** Approximate post & petties as these are property specific and attorneys firm have different charges.

  24. ScienceDirect

    ScienceDirect is a leading platform for peer-reviewed scientific research, covering a wide range of disciplines and topics. If you are looking for an article published in 2020 in the Journal of the American College of Cardiology, you can use the advanced search function to filter by journal, year, and keyword. You can also browse related webpages to find more articles of interest.