Consumer Information

Author :

Who pays for what?

the BUYER is liable for the SELLER is liable for

1.  Transfer fees – on the Purchase Price

2.  Transfer duty [tax payable to SARS]
      (or Vat payable by the Seller if the Seller
       is a VAT vendor and the Purchaser is not)

3.  Bond registration fees
     [payable to the Bond registering attorney]

4.  Home Owners Association consent fee
      [if applicable]

5.  Body Corporate levey clearance fee
      [if in a Sectional Title complex]

6.  Costs of complying with Special Bond
       conditions [if applicable]

7.  Occupational interest pending transfer
      [if applicable]

8.  Special Leies imposed by a Body Corporate
      before transfer, if payable in instralments,
      then the Buyer inherits the balance on a
      pro-rata basis as from date of transfer

1.  Agent’s commission

2.  All Certificates of Compliance
     [Electrical; Beatle; Gas; Plumbing Elec. Fencing]

3.  Bond cancellation fee
     [if the Seller has a bond on the propert

4.  Advanced rates clearance figures

5.  Levies up to date of transfer

6.  Special Levies imposed by a Body Corporate
      before transfer:
      6.1  if apayable in a lumpsum
      6.2  if payable in instalments, then Seller
              liable up to date of transfer

7.  90  Day Penanty interest if Seller fails to advise
      the financial inst. before bond cancellation

8.  Capital Gains Tax
      [ Sale of Primary residence – after 1 October
       2001 -The first R2 million ‘Capital Gain’ is
       exempt from tax.  The balance of which only
       40% is included in the seller’s taxable income

 note:  subject to confirmation by the Conveyancing at the time of transfer: