Warren Properties
Game Farms & Property in the Eastern Cape of South Africa
How to Sell your property
GOOD NEWS ! ! !
You don't have to sell your property, we will do it for you!
Simply fill in a 1 page document that you can download
and send it to us. We will get an agent to take care of the details so you can take care of your dreams.
send document via an e-mail to us
or Fax to 086 540 8364 (SA Only)
Important Info
VALUE ADDED TAX (VAT) AND TRANSFER DUTY
If the seller is registered for VAT, the sale of immovable property is subject to VAT. The current rate is 14 %. If the buyer is also a VAT registered vendor, he/she can claim the VAT back as a VAT input if the buyer was the party who paid the VAT. If the sale was VAT inclusive, then the seller will qualify to claim back the VAT.
If the seller is not a VAT registered vendor, the sale is subject to transfer duty, payable by the buyer. If the buyer is a VAT registered vendor, the transfer duty may be claimed back as a deemed VAT input.
If the immovable property is registered in the name of a company or a closed corporation, and the company or closed corporation is sold, no transfer duty is payable unless the immovable assets comprises of more than 50 % residential property.
TRANSFER COSTS
Transfer cost will consist of several components
a) Transfer duty or VAT that may be claimed back if the buyer is VAT registered.
b) Conveyancer fee
c) Post and petties
d) VAT on conveyancer fees
e) Deeds office fees
f) Bond registration fees if applicable.
