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Property Sellers Beware - You Still Need To Pay For Cancelling Your Home's Bond

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Property Sellers Beware - You Still Need To Pay For Cancelling Your Home's Bond

When a seller's property is bonded, they usually know, that they need to give the Bank 90 days' notice to avoid bond penalties

What most sellers however do not always realise, is that they are still liable for the attorney's bond cancellation fees. 

The costs are worked out per bond registered over a property and not the value of the bond or the amount outstanding at the financial institution.

For example: One bond cancellation = R5 440 ,00 and three bond cancellations = R 6 752,00.

Herewith the table of costs for the attorney's bond cancellation fees:

 

Author Tanja Nolte (DVH Attorneys)
Published 16 May 2023 / Views -
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