The Tables of Costs - ready reckoner has been updated to reflect the changes made to the Recommended Guideline of Fees for Conveyancers for the transfer of immovable property or the registration of a mortgage bond - applicable from the 1st of June 2018.
It consists of the following sections:
- Summary of Bond Repayment Interest Rates/Costs.
- Summary of Bond and Transfer Costs.
- Tables of Transfer Costs, and
- Tables of Bond Costs.
The calculations in the tables are based inter alia on the following applicable legislation:
- Conveyancing: Conventional Deeds (Act 47/1937): Guideline of Fees
- Conveyancing: Sectional Titles (Act 95/1986): Guideline of Fees
- Interprovincial Apportionment Guidelines: Sectional Titles
- Interprovincial Apportionment Guidelines: Conventional Deeds
- Conveyancing fees and Apportionment of fees: Alienation of Land Act
to be found here: Conveyancing Fee Guidelines 2018
Two changes have been made to the Tables in the last three months:
- An increase in VAT to 15% which was announced in the Budget with effect from the 1st of April; and the
- Recommended Guideline of Fees for conveyancers with effect from the 1st of June.