What it will cost you to sell your property – with real world example

My day-job is assisting people to transfer their properties.

Again and again, I come across sellers that are not aware of the costs of selling. When that happens, they are obviously not prepared for it.

When you sell your property, you might think that you will only receive money in this process. Obviously, you are aware that you will have to pay the Estate Agent.

BUT, you will be responsible and called upon to pay for so much more than that.

So, what will you have to pay for?

For an in-depth discussion, check out this video.

Let’s have a look at the biggest costs:

  • BOND NOTICE
    There could be a penalty if you did not give 90 days’ notice.
  • BOND REMAINDER
    You will have to pay off your bond – whatever is left on it.
  • BOND CANCELLATION
    When you bond is paid off, it must be cancelled.
  • CERTIFICATES OF COMPLIANCE
    For the electricity, gas, electric fence, etc.
  • REPAIRS FOR CERTIFICATES OF COMPLIANCE
    Repairs if necessary and applicable.
  • ESTATE AGENT
    Calculate the % into rands to really see how much.
  • MUNICIPAL CLEARANCE
    This must be paid up front for 3 months.
  • LEVY CLEARANCE
    With Home Owners Association and Body Corporate if applicable.
  • CAPITAL GAINS TAX
    Have a chat with your auditor to be sure.

View the video series:

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