What will I have to pay in advance of legally owning the property (in addition to the actual final purchase price)?
Within one to two weeks of your offer being accepted, you will be asked to pay a deposit of normally 10% of the purchase price. If you are bringing funds in from overseas, bear in mind that the international banking system can take up to two weeks to get monies into S.A., so it is worthwhile preparing your transfer of funds in advance of the deadline. The most economical and efficient way of bringing money into South Africa is through a currency broker. Please ask for further details. If you do not pay your deposit in time then you are in breach of contract, and the seller could withdraw the sale. You will then be required to pay the transfer costs, which cover the legal costs of the transaction. This cost is regulated by a standard tariff and is calculated on a sliding scale based on the value of the property you have purchased. (See table above) In the following two weeks you will be required to pay this tax. The balance of the purchase price will be requested about one month before
