With over 25 years’ experience in transferring homes and registering bonds, Executor Law – J. Bredenkamp Inc. helps you complete one of the biggest financial transactions you will ever get involved in. Give your property the personal, professional transfer it deserves.
Whether you’re moving in, or moving on, Executor Law – J. Bredenkamp Inc. gives you the high quality, specialist service you deserve. With over 25 years’ experience in the field, and as top conveyancing attorneys for Standard Bank, ABSA and First National Bank, we can give you proactive advice tailored to your unique needs, whether it is for commercial- or residential property.
Our services include:
For more information on bond and conveyancing processes download our documents below:
Transfer fees are based on the value of the property. These fees are determined by the Law Society. The Law Society provides the fees to the transferring and bond attorneys as a guideline. The disbursements, however, are at the discretion of the attorneys and these may vary from attorney to attorney.
Clients often get confused that when they hear transfer duty, transfer fees and what they are liable for. Transfer duty is the amount paid to SARS on property that the buyer buys. Currently properties below R900 000 are exempt from transfer duty however transfer fees are always payable on any amount as this is the fee for the attorney to attend to the transfer.
Whether or not you own 10%, 50% or 80% of a property, you still pay transfer costs when you acquire the percentage of the property you did not own. There is still an actual transfer that takes place. Transfer duty is payable on the value of the property minus the amount (percentage) you already own and this is calculated by SARS and based on the market valuation of the property.
This is a question without a definite answer. The standard time is from 6-8 weeks however there may be different factors that can make this time frame longer or even shorter
The municipality’s system takes anything from 6 weeks and more to update from the deeds office and show a change in ownership. In this time, as a seller, you won’t be able to close your account or, as a buyer, open a new account. After the 6 weeks both seller and buyer can attend the offices of the municipality to open and close their account. The municipality will request the seller to provide an instruction letter from the transferring attorneys to process the refund. There is no time frame in which the municipality operates to attend to the refund and this can take any amount of time.
SARS use these estate agent valuations to estimate the market price of the property and this amount is used to calculate the amount of transfer duty if applicable.
You will work according to the offer to purchase you signed however most offers will say on registration. When the property registers, then it is up to the buyer and seller to negotiate with the agent a time convenient for both parties to either vacate or occupy.
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