• Swift and competent service;
• Regular liaison with the our Financial Institutions and Estate Agents, which includes training and legal advice;
• Presenting of marketing proposals and consideration of the interest of the financial institutions on whose panels we serve and our Agents;
• Establishing of personal interests in Estate Agencies.

WHAT IS TRANSFER DUTY? The purpose of transfer duty is another income for the government where property is sold. The amount that must be paid is calculated according to what the government stipulates from time to time.

HOW IS TRANSFER DUTY CALCULATED? As from 1 March 2006: Natural Persons Between R 0,00 and R 500 000,00 no transfer duty is payable on the purchase price. If the purchase price is between R500 000,00 and R1 000 000,00 5% is payable

Example: Purchase price = R 800 000.00 R 800 000,00-R 500 000,00 = R 300 000,00* 5% = R 15 000,00 transfer duty payable. If the purchase price is > R1 000 000,00 then 8% is payable plus R 25 000,00 (R25 000,00 is calculated for the amount between R 500 000,00 and R1 000 000,00)

Example: Purchase price = R 1 200 000,00 R 1 000 000,00-R 500 000,00=R 500 000* 5%= R 25000,00. Above R1 000 000,00 it is 8% that is payable. Purchase price R 1 200 000,00 - R 1 000 000,00 = R 200 000,00 * 8% = R 16000,00 Total Transfer Duty payable = R 16 000,00+R 25 000,00 must be paid over. Legal persons such as Companies, Close Corporations & Trusts Transfer duty is 8% of the purchase price or the value of the property calculated from R 0.01.

WHAT IS PAYABLE IN A TRANSACTION? The conveyancer is guided by the law society rules and in general, is it only a guide for a conveyancer to calculate transfer and bond fees. The fee for transferring or bonding a property increases as the purchase amount increases. For more information see below: A proforma invoice, relating to a transfer, may displays the following amounts which are payable: Transfer duty; Transfer fee for the conveyancer; Postage and petties; Deeds office fee; Clearance certificate on erf (Sectional title a fee is payable to obtain the certificate from the Body Corporate) Fica fees; Pro rata rates and taxes payable in advance. A proforma invoice, relating to a bond registration, may displays the following amounts which are payable Bond fee; Postage and petties Deeds office fee; Valuation fee (A fee charged by the bank for valuation of the property); Initiation fee (A fee charged by the bank for granting the loan).

HOW LONG WILL A TRANSFER AND BOND REGISTRATION TAKE? Registration in general for a transfer can take a minimum of eight to ten weeks. If there is monies owed on the property we shall apply for cancellation figures from the bank. The turn around times are holy dependable upon the relevant bank and its personnel. A clearance certificate from the council is also required and has to be lodged with the transfer documents. The issuing of the Clearance Certificate may take approximately three to seven days. The city council requires a prepayment for the certificate. Any excess payments made by either the Purchaser or Seller will be refunded by the city council at a later stage. A transfer duty receipt is also a prerequisite when the documents are lodged at the deeds office. The time it takes to acquire such transfer duty receipt may be three to four days.

WHAT DOCUMENTS WILL BE LODGED FOR A TRANSFER, BOND CANCELLATION & BOND? Transfer: Power of attorney (Authorization by the seller to do the transfer of the property); Concept deed; Clearance certificate for a erf ( Sectional title a certificate from the conveyancer to certify that all rates and taxes is fully paid to the body corporate); Transfer duty receipt. Cancellation of bond: Cancellation document from the bank confirming that the bond may be cancelled; Title deed (Original); Bond deed (original). Bond: Bond documents.

WHAT IS THE DIFFERENCE BETWEEN SECTIONAL TITLE, SHARE BLOCK AND TIME SHARE? A Sectional Title is where a certain part of the building is registered in the name of an owner. The areas that is not registered into a specific owners name is known as common property that can be utilised by all the owners jointly . Typical examples of Sectional Title Units are town house complexes or flats. The units may be joint or may be alone standing. Share block - where person will purchase shares in a Company, which is the sole owner, and is entitled to an exclusive right to occupy a part of a building owned by that Company. Time share - is where property or building or a portion thereof will be occupied periodically or for a specific time of the year by the Purchaser. He therefore only shares in the property and may occupy same during his alloted time periods. 

WHAT OTHER RIGHTS CAN BE REGISTERED IN THE DEEDS OFFICE? Mineral rights (for excavating minerals gold,any minerals etc); Leases for immovable properties which must be registered notarially (only certain circumstances please contact us for further enquiries); Personal (usus, habitatio, usufructus) and Praedial Servitudes (Right of way); Mortgage bonds (First and second bonds etc.The most common banks for example ABSA, FNB, Nedbank, Standard, SA Home Loans etc; Notarial bonds-passed for security over immovable property Rights to develop-large scale housing (This is usually RDP housing for people that can’t afford to buy a house or any property.