The Tables of Costs - ready reckoner has been updated to reflect the changes made to the Conveyancing Fee Guidelines published last week and which came into effect on the 1st of March 2013. Transfer duty rates have not been changed for the 2013/2014 Budget year. The Tables of Costs consist 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.
Download the March 2013 Ready Reckoner - 19 pages
Tables of Costs 1st of March 2013
Notes
The calculations in the tables are based inter alia on the following applicable legislation:
The Conveyancing: Conventional Deeds (Act 47/1937): Guideline of Fees, and the Conveyancing: Sectional Titles (Act 95/1986): Guideline of Fees as found in the Conveyancing Fee Guidelines 2013, the Deeds Registries Act Amended Registration Fees - 2012 and the Rates of Transfer Duty
Reader Comments:
Surely the age old principles of establishing a reasonable fee should still prevail, the experience/skill of the practitioner, the speed with which the task is to be performed and the importance of the transaction to the client, especially the importance of the transactions to the client and the constitutional imperative of equality; why then does the recommended fee set 4.4% for the property owner of property at less than R50 000 and 0.34% of the property at R30 000 000.00 surely in equity the 4.4% should apply in both instances? Or is this another example of legal fees being set by persons who have no conception of the work and stress involved and no conception of mathematics
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