LEGAL FEE FOR BUYING A HOUSE
Legal Fees for Buying a Home
Whats New:
This is La Grande's New Web Site.
February 2011
Please feel free to give your comments on La Grande's new website, by clicking on Contact Us in the Main Menu.
Current News
Interest rate Cut
November 2010
On 18 November 2010 The Reserve Bank has anounced that the repo rate is reduced by 50 basis points. This means that the banks will reduce their prime lending rate down to 9%.
Recent Events
No Transfer Duty or Capital Gain Tax?
February 2011
For those of you who have their primary residence registered in a CC., Trust or Company, now have the opportunity to transfer the property into your own name, with out paying transfer duty or capital gain tax. Before you take any action, consult with your finacial advisor to establish whether this will be to your advantage. Then consult with your transferring attorney to establish whether you will qualify not to pay transfer duty and capital gain tax. Then establish with your bank wheteher you will qualify for the outstanding bond amount. You have to take action before the end of 2011.
COSTS AND FEES OF PURCHASING
Bond Registration and Transfer Fees
• To calculate the maximum bond you may qualify for, click here.
• To calculate the minimum income required to qualify for a bond, click here.
Buyers; Please Take Note.
When your transfer attorney tells you that he will give you a forty persent discount on the transfer fees, then please take note that this persentage is only applicable to the attorney's fees. The Transfer Duty is the biggest cost factor. The Transfer Duty is paid to the taxman and unfortunately this cost is not negotiable.
