Obligations & Rights
Summary of the purchaser’s financial obligations & rights regarding a sale in execution of immovable property.
Payments to Sheriff
Payments to the transferring attorneys
- Refundable of R15 000.00.
- 10% of the purchase price as deposit.
- Maximum of R40 000 (VAT incl).
- Balance purchase price & interest by way of guarantee or EFT.
Payments to the transferring attorneys
- Transfer costs.
- Bond costs.
- Transfer duty or VAT which ever applicable, rates, taxes & levies, if applicable.
Own responsibility
- Insure property for full value.
- Insurance policy must be kept available for the sheriff and/or plaintiff’s attorney and/of conveyancer.
Rights
- Possession after payment of deposit & commission.
- Ejectment of occupiers on own cost, if necessary.
- Prompt registration of property in transferee’s name.