Who Pays What…..When a Property is Sold?
The seller is responsible the following:
- Municipal rates and taxes to date of occupation. The seller needs to get a rate clearance certificate from the council.
- Electrical compliance certificate, electric fencing and gas certificates.
- If applicable, capital gains tax to SARS.
- Bond cancellation/settlement costs.
The buyer is responsible for the following:
- Transfer duty to SARS and registration fees to the Deeds Office.
- Transfer fees to the seller’s transfer attorney
- Bond registration fees including Stamp Duty on the bond.
- Municipal rates and taxes from date of occupation.
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