Costs for the Seller

  • In the event that the Seller is a VAT vendor, and is selling the property in the furtherance of his enterprise, the amount of VAT included in the selling price, is payable to SARS.
  • All outstanding amounts on a mortgage bond are payable to the lending institution, as well as any      applicable penalties and bond cancellation fees.
  • Any municipal rates, taxes and charges due, plus an advance payment for 120 days.
  • In the event of a sectional title unit or property in a homeowners’ estate being sold, all outstanding levies need to be paid up to ensure a levy clearance certificate is issued by the Body Corporate or HOA.
  • Compliance certificates have to be issued in terms of electricity, beetle, plumbing, gas and electrical      fencing.
  • Estate agent’s commission is normally payable by the seller on date of transfer.