You will see online that there are many bond originators offering to pay your attorney costs in an effort to get your business. You do not necessarily have to use the transferring attorney that your bond originator suggests. Shop around again for the best conveyancing rates.
As a guideline for raising a bond over a piece of land, attorneys fees are made up as follows:
1. Fees for taking instruction, drawing Power of Attorney to pass Bond, drawing Bond and other documents, lodgement and registration, correspondence, etc
2. FICA identification and verification fee
3. Postage, petties and telephone
4. Deeds office search fee
5. Deeds office fee
6. Valuation fee
7. Initiation fee
The total of these fees at today’s prices is in the region of R8,000.00 to R10,000.00.
If you are selling a house and buying a new house there are also other factors to take into consideration like bond cancellation costs, rates clearance, beetle and inspection report – please contact your conveyancing attorney to obtain these costs.