Possible Foreseen & Unforeseen Costs Payable by the Seller
Category Sellers Guide
Not many homeowners are aware of the costs involved when selling their property. Our team at Louw & Coetzee Properties thought it worthwhile to share...
Costs for the Seller
- The Estate Agent's commission;
- An amount required to settle & cancel the existing bond of your property;
- Penalty interest on the outstanding bond amount (if the required 90-day written notice to the bank was not complied with);
- Bond cancellation costs payable to the bank's appointed Cancellation Attorneys;
- Approximately 120 days' advance municipal rates and services;
- Advance pro-rata levies payable to the Body Corporate or Home Owner's Association (if applicable);
- Inspection fees in respect of the Compliance Certificates;
- Costs of the repairs required to have the Compliance Certificates issued.
Further costs could possibly include hiring a moving company, paying for boxes, as well as hiring professional cleaners to clean your property for the buyers moving in, and/or cleaning the house you are moving into.
City of Cape Town: Seller Refunds
City of Cape Town is notified by the Deeds Office directly once transfers register in the Deeds Office.
At Louw & Coetzee, our policy is to apply for the Seller's refund via our electronic communication system on behalf of the Seller.
The City of Cape Town takes approximately two months from date of registration to process the refund application. Should a refund be due to the Seller, the said refund will be paid to our Attorney's trust account.
Once the funds are received from the City of Cape Town, we will pay the refund to the Seller.
For any questions or queries about selling your property, get in contact with our team of professionals at Louw & Coetzee Properties: 021 976 2730.
Read more about the advantages of a market related assessment of your property & the benefits of a sole mandate.
Written by: Hayley Kellerman
Author: Louw & Coetzee Properties
