These are the fees that the Conveyancers charge the Purchaser as per the recommended fees of the Legal Practice Council for the service of registering a bond at the deeds office. These fees are paid to the Conveyancer before registration by the Purchaser.
No, the bond still needs to be cancelled at the deeds office and a fee will thus be payable to the Conveyancer attending to the cancellation of the bond in the deeds office.
No. The bank has a panel of Conveyancers who are authorized to register bonds.
If you have purchased the property in cash, you will then be given your original title deed. In cases where you took out a loan from a financial institution then, the original title deed will be sent to the financial institution for safekeeping to serve as security for the loan.
The Purchaser pays the transfer costs to the Conveyancer, this amount includes the transfer duty (in cases where it is payable).
The transfer costs are levied on the purchase price of the property. The fee is based on the Tariff set by the Legal Practice Council.
A transfer takes approximately 8 weeks to register. The time frame depends largely on the time periods set in the Offer to Purchase, participation of the Purchaser and seller as well as other incidental factors.
Transfer duty is the tax levied by the South African Revenue Service on the purchase price or on the value of any property acquired by a Purchaser.