When it comes to property transactions in South Africa, there are various conveyancing fees that will be payable. These fees are typically paid by the seller of the property, but there are instances where the buyer may be required to pay some or all of the fees. In this blog post, we’ll take a look at who is typically responsible for conveyancing fees in South Africa.
One of the key conveyancing fees that are payable in a property transaction is the transfer duty. This is a tax that is levied by the South African Revenue Service (SARS) on the transfer of property. The amount of transfer duty payable will depend on the value of the property being transferred.
In most cases, the seller of the property will be required to pay the transfer duty. However, there are some instances where the buyer may be required to pay the transfer duty. For example, if the property is being purchased through a share sale, the buyer may be required to pay the transfer duty.
Another key conveyancing fee that is payable in a property transaction is the attorney’s fee. This is a fee charged by the attorney who is handling the property transaction. The attorney’s fee is typically calculated as a percentage of the value of the property being transferred. In most cases, the seller of the property will be required to pay the attorney’s fee.
However, there are some instances where the buyer may be required to pay the attorney’s fee. For example, if the property is being purchased through a share sale, the buyer may be required to pay the attorney’s fee. The conveyancing fees payable in a property transaction will vary depending on the specific
