06/08/2025
🌟 Wednesday Wisdom with Elsa @ Meridian Realty 🌟
📩 [email protected]
Selling your home? 🏡 Here's a quick look at the costs you might face — some expected, and a few that might surprise you!
💸 1. Advertising Costs
✅ Covered by your estate agent (if you're using one).
📋 2. Compliance Certificates
You may need:
• Electrical Compliance
• Plumbing Compliance
• Beetle Certificate (if applicable)
• Levy Clearance (for sectional title)
• Gas Certificate (if you have gas appliances)
🏛 3. Rates & Taxes Clearance
You’ll need to settle 4–5 months in advance before your home can be registered in the buyer’s name.
🏦 4. Bond Cancellation Fees
Your bank will appoint attorneys to cancel your existing bond — and this comes at a cost.
🤝 5. Estate Agent’s Commission
Usually a percentage of the sale price — and yes, it’s negotiable!
📈 6. Capital Gains Tax (CGT)
• Primary residence? Exempt up to R2 million gain.
• Second/Third property? You’ll need to declare the capital gain to SARS.
🚚 7. Moving Costs
Get a few quotes from moving companies — this adds up quickly!
🔌 BONUS TIP: Don’t forget reconnection or relocation costs for things like internet, water, and electricity if you’re buying a new home too.
Thinking of selling? Let's chat — I’ll help you plan ahead so there are no surprises along the way. 😊