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Transfer & Bond Cost Calculator

This calculator supplies an accurate estimate of the transfer and bond costs that can be expected to be incurred when purchasing a residential property.

Property transfer costs consist mainly of transfer duties and conveyance fees. Transfer duties are levied by the government and are payable to the South African Revenue Services (SARS). From 23 February 2011, transfer duties are calculated on the same basis for individuals and corporate entities (companies, closed corporations and trusts).

The transfer duty calculation is based on a sliding scale - currently all property purchase prices below R900,000 are exempt from transfer duty, transfer duty of 3% is levied on properties priced between R900,000 and R1,250,000, transfer duty of 6% is levied on properties priced between R1,250,000 and R1,750,000, transfer duty of 8% is levied on properties priced between R1,750,000 and R2,250,000, transfer duty of 11% is levied on properties priced between R2,250,000 and R10,000,000 and property prices which exceed R10,000,000 attract transfer duty of 13%.

Conveyance fees are payable to the lawyers responsible for the registration of the property in the buyer's name. These costs are also levied on a sliding scale based on the property purchase price. Bond registration costs are payable upon registration of the bond in the name of the buyer.

After the National Credit Act came into effect, banks have increased their initiation charges substantially. The fees are calculated on a sliding scale based on the bond amount that is required and also differ between the four major banks. In most cases the buyer will have the option of adding the charges to the bond capital amount and repaying these charges over the entire bond period.

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