Sanette Viljoen

Immovable property is bought and sold everyday. Nevertheless, the question about who pays for what crops up regularly. The following is a short exposition of this:

SELLER

• VAT
• Beetle, electrical and gas certificates and the cost of any work that has to be done to get the certificate
• Bond cancellation costs
• Agent’s commission
• Cost of pointing out erf pegs and provision of building plans
• Repeal of any interdicts and attachments registered against the property
• All amendments to the current deed of transfer or rectification of errors in the deed of transfer

• Municipal rates and taxes and services up to the date of registration of the transfer in die Deeds Office (including all fees payable by previous occupants or tenants of the property)

  
  BUYER

• Transfer costs
• Transfer duty
• Bond registration costs
• Initiation fees payable to bank granting the bond (differs from bank to bank)
• Pro rata municipal rates (usually payable up to 30 June)
• Pro rata availability fees to the municipality (applicable only to vacant land)