If you’re wondering what is a conveyancer or how much does a conveyancer cost then you’ve come to the right place!
A simple definition of conveyancing is “the process of transferring legal ownership of a fixed property from one person (or a company or trust) to another.” In order to complete this transfer, a conveyance fee must be paid.
Conveyancing fees are one of the costs of buying a house in South Africa. These fees are separate from the transfer duty and it’s important to research and understand the conveyancing fees for buying and selling property.
What is a Conveyancer
A conveyancer is an admitted attorney who has passed a specialized conveyancing examination and has been admitted as a Conveyancer by the High Court of South Africa.
A conveyancer’s job is to assist in the transfer of his immovable property. Their tasks include filing paperwork for a mortgage bond, cancellation figures and Title Deeds from the seller’s bank, and, if applicable, compliance certificates from the seller, as well as the amounts from the municipality for a Rates Clearance Certificate on the property in question.
How much does a Conveyancer Cost?
Heres everything you need to know about conveyancer fees in South Africa:
What are Conveyancing Fees
Conveyancer fees are variable based on guidelines issued by the Law Society of South Africa. The cost of a conveyancer in South Africa depends on the value of the property. Typically conveyors charge 0.7% and 1.2% of the value of your bond/property and an additional 15% VAT.
Conveyancing fees for buying a house
Here is an example of the conveyancing fees for buying a house valued at R1 590 000
Who pays Conveyancing Fees?
Although the seller appoints the conveyancing attorney, the conveyancing fees are paid by the purchaser.
Where to find a Conveyancing Attorney
Here are some industry experts to consider:
Conveyancing Attorneys in Cape Town
Conveyancing Attorneys Durban
- Anisa Khan Attorneys
- Vinesh Badri & Partners
Conveyancing Attorneys in Pretoria
Understanding what Conveyancers do
Listen to the full episode on the UNPACK Podcast
- What is a conveyancer? What do you have to study and how long does it take to become one?
- How much does a conveyancer cost: what are conveyancing fees? How are they determined?
- Who pays conveyancing fees? Buyer or seller
- Can I choose my own conveyancer or must I use the one recommended by the estate agent?
- What is the difference between a conveyancer and a solicitor?
- 5 important questions, first time home buyers must ask their conveyancer
Reach out to Phemi Sefemo
- Website: Vdt.co.za