Buying or Selling Property Part 5 – Planning Your Finances
To avoid surprises, it’s important to have a clear understanding of all the costs involved:
Seller:
- Bond settlement balances
- Professional fees
- Repairs & maintenance in terms of the Property Condition Declaration
- Electrical and/or gas Certificate Of Compliance
- Optional Home Inspection
- Occupational rent
Buyer:
- Deposit
- Bond registration cost
- Transfer costs
- Transfer duty
- Rates, taxes and levies
- Insurance premiums
- Security costs
- Optional Home inspection
- Occupational rent
In the next part of this series, we’ll look at buying into a complex.
