Asked by Anonymous on 06-05-2021 11:13:54
Question posted in the Property Law category relating to Western Cape
I am in the process of buying a house. This process strated in October 2020. Finally lodging will start tomorrow.
I already paid the transfer cost of about R23000 in November 2020 and soon I will have to pay the registration cost of aroumd R22 000. My dilemma is that the bond is R750000. I read this morning that if the bond is less than R900000 the buyer does not have to pay transfer cost. Can you please confirm whether my facts are correct or not...
Answer to the Question
Posted by Andrew on 14-05-2021 07:18:23
I see that you haven't made a payment for the question, but I'm going to assist you a little. If you want to ask a follow-up question, please make the required payment.
I think that if the property is worth less than R900,000 then you don't pay transfer duty... not if the bond is less than R900,000.
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