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Total Transfer cost guide


This is a guideline of the costs levied on the sale of properties.  Please email info@centurionrealestate.co.za regarding what is possible.   We can also get a home loan consultant to come and see you should that be required.  Note that home loan debt is one of the cheapest forms of credit there is in terms of the interest % charged.

Transfer duty is not the same as transfer cost

NOTE:
Many see transfer duty to mean transfer costs!  Transfer duty is only a small part of transfer costs to be paid in a property transaction.  For example, a property of R610000 will have transfer duty of R300 but transfer fees of approximately R25000.  Banks don't finance transfer costs or transfer duties, so you need to save this sum before you enter into a property purchase transaction, which implies you have to rent until you have the funds together, if you are a first time buyer. 

Total Transfer Cost Table (Updated 23 March 2011)

  Transfer Duty Deed Search Transfer Attorney incl. VAT Deeds Office Fee FICA Bond Registration Postage Law Fee Bank Valuation Total
450000 0 70 6750 500 150 5850 150 70 5000 18540
500000 0 70 7500 500 150 6500 150 70 5000 19940
550000 0 70 8250 500 150 7150 150 70 5000 21340
600000 0 70 9000 500 150 7800 150 70 5000 22740
650000 1500 70 9750 500 150 8450 150 70 5000 25640
700000 3000 70 10500 500 150 9100 150 70 5000 28540
750000 4500 70 11250 500 150 9750 150 70 5000 31440
800000 6000 70 12000 500 150 10400 150 70 5000 34340
850000 7500 70 12750 500 150 11050 150 70 5000 37240
900000 9000 70 13500 500 150 11700 150 70 5000 40140
950000 10500 70 14250 500 150 12350 150 70 5000 43040
1000000 12000 70 15000 500 150 13000 150 70 5000 45940
1050000 14500 70 15750 500 150 13650 150 70 5000 49840
1100000 17000 70 16500 500 150 14300 150 70 5000 53740
1150000 19500 70 17250 500 150 14950 150 70 5000 57640
1200000 22000 70 18000 500 150 15600 150 70 5000 61540
1250000 24500 70 18750 500 150 16250 150 70 5000 65440
1300000 27000 70 19500 500 150 16900 150 70 5000 69340

Transfer Duty Lowered    

On 24 Feb 2011, the Finance Minister annouced that no transfer duty is payable on a property priced at R600000 or less and 3% for properties priced between R600000 and R1 million, on individuals, trusts, companies and close corporations. 
Transfer Duty is payable at the following rates on transactions which are not subject to VAT.

Acquisition of property by all persons (being natural persons and legal entities)

Value of property (R) Rate
0 600 000 0%
600001 1 000 000 3% of the value above R600 000
1 000 001 1 500 000 R12000 + 5% of the value above R1 000 000
1 500 000 and above R37000 + 8% of the value exceeding R1500 000

Minister of Finance Pravin Gordhan announced in the 2011 Budget Speech that the transfer duty exemption threshold will be increased from R500000 to R60000 bringing about major changes and savings for purchasers!

The greatest amendment is that these rates are also applicable to legal entities (being trusts, close corporations and companies)!

In the official SARS Budget Pocket Guide 2011, the revised rate structure which will apply to all properties acquired on or after 23 February 2011 is set out as follows.

  1. This will have the effect that persons acquiring a property for R600000 on the 23 February 2011 or later will be exempted from transfer duty. This will save natural persons R5000 and legal entities R48000
  2. Should the same person acquire a property for R1000000, transfer duty will be R12000 saving natural persons R13000 and legal entities R68000.
  3. Persons acquiring properties of R1500000 will pay transfer duty of R37000 saving natural persons R28000 and legal entities R83000!

Contact Us
Office
Tel: 012 654 8613.  Shop 19, Hennopsview Shopping Centre, Blackwood Street, Hennopspark

Property Consultants
 Johan on 082 905 9800 (Eco Park Estate, Highveld, Die Hoewes, Lyttelton, Centurion CBD)
Mariana on 082 775 5140 (Eco Park Estate, Highveld)
Julia on 082 796 4873 (Doringkloof, Lyttelton, Die Hoewes, Zwartkop, Hennopspark, Clubview, Eldoraigne, Wierdapark, Rooihuiskraal North) 
Trudey 082 796 4873 
(Eldoraigne, Amberfield, Rooihuiskraal, Raslouw, Celtisdal)
Vera on 082 708 9946 (Lyttelton, Die Hoewes, Zwartkop, Hennopspark, Clubview, Eldoraigne, Wierdapark, Rooihuiskraal North)
Emilie on 082 923 7572 (Doringkloof, Highveld)
Magda on 082 221 5718 (Zwartkop, Highveld)

General sales queries & newsletter subscriptions: info@centurionrealestate.co.za 
General rental queries:
rentals@centurionrealestate.co.za 

Or visit us on the web: www.centurionrealestate.co.za

Free monthly newsletter
If you would like to receive our newsletter, which is a valuable property informative on property trends for informed decision making please send us your email address to info@centurionrealestate.co.za?subject=I would like to receive...


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