What are the costs to sell property in Randburg, here you go. Remember your buyer will carry most of the costs. When you sell there are costs to consider and these include.
The costs to sell property
- Compliance certificates: As the seller, when you sell a house, you are responsible for all costs to obtain electrical compliance, an electric fence, and a gas certificate of compliance, across SA. Coastal regions also have other requirements like a beetle and water certificates of compliance.
- Estate agent commission or professional fee: This value is initially expressed as a percentage of the mandate that you signed. Did you know that it is not uncommon for the commission to vary between the type of property mandate that you settle on? The actual value is confirmed in writing once an offer to purchase is prepared. The OTP or offer to purchase, will present the actual value in numbers and words. This value is often settled directly by the attorneys who are working on the registration of the property.
- Rates clearance figures: As the seller, when you sell a house, you are also responsible for obtaining rates figures. Any outstanding monies from the monthly municipal accounts and also the rates and taxes must be settled before registration can continue. This also includes any outstanding levies owed to a body corporate or even SARS.
- FICA fee: Although this is a notional value.
- Bond cancellation costs: Banks require that you, the seller give them 90 days’ notice. Avoid penalty interest charges on bond cancellation. Let your home loan provider know of your intention to sell at the outset. Remember to factor in the bond cancellation costs as well. Not all banks waive this cost, especially if you take out a loan with a different mortgage lender on your next home.
- Moving costs: After you sell a house, you will need to consider the moving costs. When you move, be sure to phone around for a furniture removal or relocation quote. Remember peak times for moving are at month-end and at year-end.
- Sales Commission – between 5% and 7,5%. I work on 5% on a Sole Mandate.
If you are selling in Randburg let us help you with it will cost to sell
KW Select powers my real estate agent business in Randburg with advanced technology solutions to support a successful residential property sale. Keller Williams is the largest real estate franchise in the world. Whether you are buying a property in Randburg, or Selling a property in Randburg we can and will assist. Get all the latest residential property trends in Randburg. Accurate pricing is key. We also cover all the different property mandates. We know what it will cost you to sell a property in Randburg. We also know the costs you will need to consider when buying a property in Randburg. Get an accurate and market-related property valuation for your property and let’s make sure we sell it in under 85 days according to the FNB Property Barometer from June 2023. Call 083 550 1220 for all your residential real estate needs.