As a seller it is important to remember that you are not exempt from process costs. Some things that may fall into this category are:
Electrical and Gas Conformity Certificates
As a seller, you are obligated to give the buyer an electrical and gas (if applicable) compliance certificate for the property you are selling. This includes any costs of any repairs to the existing electrical installation.
As a seller, you will be required to obtain a certificate from a suitably registered company to certify that your home is free of wood destroying insects/beetles.
Bond Cancellation Costs
To cancel a bond (if you have one on the property), you need to provide your bank with 3 months notice of intention. If you do not do this, the bank can charge interest for up to three months as a ‘cancellation’ fee so make sure you are ahead of the game.
Estate Agent Commission
Commission to your agent is payable by the seller on the registration of the transfer of the property only.
While this is not a set cost, getting your rates clearance may cost you if you get a company to help you with the process. There also may be some outstanding amounts that need to be paid here.
Capital Gains Tax
While a seller doesn’t need to pay the Transfer Duty costs, there is what is called a Capital Gains tax on a property when it is sold that MAY be applicable.
Be prepared when you sell to take these into account!
The costs of transferring ownership of property into your name comprise costs due to the government in the form of transfer duty, legal costs as well as a number of payments the attorneys have to make to obtain clearances.
Please note that all values returned by the Transfer cost calculator are quotation values subject to change.