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Conveyancing Fees and the Whole Shebang: Know What You Need To Pay

It’s everyone’s dream to own their own home, but it soon can turn into a nightmares. Conveyancing fees, transfer duties, deeds office levies, bond costs. These are all terms you’re going to come up against when you apply for a home loan.

The most important thing is to know where you stand and know your facts. Do some research and know what you’re up against. The last thing you need is to make an offer on your first home and then to find out you can’t afford something like the conveyancing fees or transfer duties.

Know the Terms

Terms like conveyancing fees or bond costs are alien to some folks who are not clued up on all the legal jargon. Here’s a handy list of some terms you’ll come up against and how it’s going to impact you when purchasing your dream home.

• Deposit – This is the money the bank will require you to put down when purchasing a property (20% is usually the rule of thumb).
• Bond Costs and Transfer Duties – These are the taxes levied by the government on all property transactions.
• Conveyancing Fees – The attorney who registers the property in your name needs to be paid as well as conveyancers, who are appointed by the bank to register a bond for your potential property.
• Deeds Office Levies And Fees – The deeds office falls under the Department of Land affairs and are responsible for registering ownership and rights of immovable property.
• Bank Charges – Financing the purchase of a new home with a bank will incur some costs including, valuation fees, bond initiation fee and an administration fee.

Now you should know all the major terms and it will give you the confidence to reach your goal of owning your own property. Next time someone asks about conveyancing fees, you’ll have the answer ready and waiting.

Contact Details:
Contact Number:
012 654 4107 or 082 578 3104
Fax Number:
012 654 7407
Email:
bert@bertsmith.co.za
Website:
http://www.bertsmith.co.za

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Filed under: conveyancing, Gauteng | No Comments »

Why You Need A Property Transfer Attorney

So, you’re a new property owner and suddenly there are a whole lot of new terms and procedures you have to comply with—and you’ve n ever heard of any of it! So what do you do? Although burying your head in the sand might sound tempting, it’s not going to solve the problem. That’s where property transfer attorneys come in. A property transfer attorney (sometimes known as a conveyancer) is a trained legal professional to help you with the property transfer process. It may sound daunting and difficult, but that’s what they are there for.

In South Africa the property transfer process is to document who owns what property and that they can be no dispute on the property you own. Property transfer attorneys are there to smooth the steps when you purchase a property, and getting the property into your name and ownership.

The Steps In Transferring Property

Buying a property is a great investment, but the procedure of getting it into your name can take longer than expected. Property transfer attorneys are there to make it a smooth transition without stressing you out. Here are the basic steps to transfer ownership of property:

• As a buyer you need to make sure you have all your documents and information needed such as ID documents and marriage certificates (if applicable).
• From the seller you need the name of the bondholder and an electrical certificate of compliance.
• The offer to purchase is given to the transfer attorneys and they manage the deed document and while coordinating the transferring process.
• As the buyer you then pay the deposit
• The attorneys cancel the existing bond (if there is one) and register a new bond. The deeds are then lodged with the deeds registry.
• Once the registrar signs the title deed, you as the buyer are owner of the property. And the transfer takes place.

Let Bert Smith Incorporated assist you as one of the finest property transfer attorneys. Contact Bert Smith Incorporated for quick and efficient service.

Contact Details:
Contact Number:
012 654 4107 or 082 578 3104
Fax Number:
012 654 7407
Email:
bert@bertsmith.co.za
Website:
http://www.bertsmith.co.za

iLead Attorneys is a trusted and experienced authority when it comes to listing valuable services and various businesses in a straightforward to use business directory. We make it simple for you to find all the related information in one easy accessible place.

Filed under: conveyancing, South Africa | No Comments »