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Finweek English Edition - - COVER - Trans­fer duty: Trans­fer fees/con­veyanc­ing costs: Bond ini­ti­a­tion fee: Bond reg­is­tra­tion costs: Other fees:

Those in the for­tu­nate po­si­tion of be­ing able to af­ford their dream home of­ten only fac­tor in the de­posit and are fre­quently caught out by other costs as­so­ci­ated with buy­ing prop­erty.

The tax levied by Sars on a prop­erty ac­qui­si­tion (see ta­ble).

Fees paid to the lawyer re­spon­si­ble for deal­ing with the Deeds Of­fice and trans­fer­ring the prop­erty into your name. Pur­chasers can ex­pect to pay around 1% of the pur­chase price.

Most banks charge R5 700, the fee al­lowed by the Na­tional Credit Act.

Costs to cover the ad­min­is­tra­tion and reg­is­tra­tion of the home loan. Buy­ers should bud­get for roughly around 1% to 1.5% of the loan amount.

Post, pet­ties and Fica fees from both the bond orig­i­na­tor and lawyer come to just un­der R3 000.

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