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Frequently asked questions

Frequently asked questions

Frequently asked questions

What is the 90 day penalty / early termination charge on a mortgage bond? Sellers need to give 90 days’ notice to the financial institution if they intend to  cancel their bond. The penalty, or early termination charge, is usually equal to 90 days’ interest (not capital) and is calculated daily. This means that if […]

Transfer costs

Transfer costs

What costs are incurred by the Seller when selling immovable property? Rates & Rates Clearance Certificate A Rates Clearance Certificate is required to effect transfer of immovable property and certifies that the Seller’s municipal account is up to date. The Seller will be required to make a payment of rates, taxes and utilities for a […]