The total cash needed upfront (excluding your deposit) covers: Transfer Duty (Tax): Payable to SARS on properties sold for more than R1,210,000 (rate increases on a sliding scale). Conveyancing/Transfer Fees: Paid to the Transfer Attorney for legally changing the property's ownership into your name. Bond Registration Fees: Paid to the Bond Attorney for registering the mortgage bond in your name at the Deeds Office. Bank Initiation Fee: A once-off fee charged by the bank for processing the home loan application.
