What is a “transaction” for transfer duty purposes?
According to reports, given current low interest rates, there have been an uptick in property transactions. Therefore, it is worthwhile considering the potential impact of any transfer duty taxes to be imposed on such transactions. The Transfer Duty Act imposes a transfer duty on the value of any property acquired by any person by way of a transaction, or in any […]
Have you thought of all the costs in purchasing your new home?
Purchasing a new home is undoubtedly an exciting decision, but it is also an extremely emotional one. A home is where family traditions are brought to life and where lifelong memories are made. However, in addition to the immense pride that comes with having a place to call your own, comes the heavy costs that […]
Important steps for the transfer of property
The transfer process can take up to three-months, sometimes longer. There are different steps involved in the transfer of a property, these include: 1. Instruction. A conveyancer receives the instruction to transfer the property. 2. Communication. The conveyancer communicates with the various role-players involved in the transfer process, such as the seller, purchaser, transfer and […]