RATES & LEVIES
In order for a property to be transferred from a Seller to a Purchaser, a rates clearance certificate must be obtained from the Municipality and lodged at the Deeds Office with the transfer documents. In practice, we refer to the…
BOND VS TRANSFER COSTS
So, you decide to purchase a property, a conveyancer is appointed, you obtain a bond, and the process is moving along smoothly. You are then requested to sign your transfer documents, you sign five affidavits, and then you are slapped…
TRANSFER DUTY VS TRANSFER COSTS
Transfer Duty: If you purchase a property for whatever purchase price and the fair value of the property is more than R 1 million, you will pay transfer duty on the transaction to SARS. The amount of transfer duty payable…
WHO PAYS THE CONVEYANCING COSTS?
There is often confusion between a Seller and Purchaser about who pays the transfer costs to the conveyancer in a sale of immovable property. The Purchaser is responsible for payment of the transfer costs to the conveyancer, including the transfer…
DOES THE SELLER OR THE PURCHASER APPOINT THE CONVEYANCER?
Firstly, what on earth does a Conveyancer do? Put simply, a conveyancer is an attorney who specialises in the transfer of immovable property (i.e. a house) from the Seller to the Purchaser. A conveyancer is also responsible for many other…
Property Damaged After A Flood – Now What?
It really does feel like the world is coming to an end, doesn't it? First the pandemic, then the riots and now the KZN floods... what's next? It seems that we cannot rule out anything, and all we can do…
Can Foreigners Buy Property In South Africa?
So you have decided to purchase property in South Africa; well done! That's an excellent decision. Did you know that when you purchase immovable property in South Africa, you are actually buying the land and everything built on the land? Except…
THE PROPERTY PRACTITIONERS ACT IS NOW IN EFFECT – HERE IS WHAT YOU NEED TO KNOW
The new Property Practitioners Act (PPA) is kicking into effect as of today (1 February 2022), bringing significant changes to the property industry. The Act applies to the marketing, promotion, management, sale, letting, and finance of immovable property and the…
Gone Phishing: What is Phishing and How to Avoid It?
Online fraud and email scams are becoming more widespread as technology advances. And unfortunately, scammers are growing more sophisticated by the day. While falling for these scams can happen to anyone, there are some steps you can take to avoid becoming…
Don’t Have A Will? Get One For Free!
Death is an uncomfortable topic, but it is an unavoidable part of life. And While you can't plan for what happens at the end, you can ensure that your loved ones and assets are taken care of when you are…