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News and Views GhostDigest Thursday, 17 May 2012
Who gets what
1 April 2004In the table below, we see an example of the costs which would normally be incurred by natural persons in a transaction where a house is sold for R600 000, the existing bond is cancelled, and a new one is granted for R300 000.
| Estate Agent | Transfer/Bond Conveyancers | Deeds Office Levy | Financial Institution | Inland Revenue/VAT | |
| Commission | 35 000 | ||||
| Bond Cancellation | 600 | 60 | 84 | ||
| Transfer Costs | |||||
| Conveyancer's fee | 6 800 | ||||
| Transfer Duty | 30 900 | ||||
| Deeds Office fee | 400 | ||||
| Bond Costs | |||||
| Conveyancer's fee | 2 700 | ||||
| Deeds Office fee | 260 | ||||
| Initiation/Valuation fee | 700 | 98 | |||
| Totals | 35 000 | 10 100 | 720 | 700 | 31 082 |
View pie chart
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