Transfer costs are fees you pay when you transfer the ownership of a property. You pay these fees to the land office, the estate agent and sometimes your lawyer too. The transfer costs in Namibia are made up of the fees a seller, buyer, and estate agent all pay. How much are transfer costs in Namibia? Below is an overview of what you can expect to pay:

The transfer costs in Namibia are made up of the fees a seller, buyer, and estate agent all pay.

• Solicitor’s fee – This covers the cost of drafting and reviewing contracts, tax returns and other documents relating to the property sale.
• Owner’s conveyance fee – This covers administrative costs involved with transferring ownership deeds from one person to another. It also includes notifying utility companies such as water boards, electricity providers etc., that you are no longer responsible for paying bills on this property.
• Agent commission – This is paid to an estate agent who facilitates the sale between buyer and seller on behalf of both parties involved in this transaction (seller/buyer).

How much are transfer costs in Namibia?

There are three parties involved in transferring property: the seller, buyer and estate agent. These parties need to pay a fee for this process to take place. The costs for each party vary depending on how much you buy or sell your property for and how many parties are involved in helping you with your transaction.

• Seller’s Transfer Cost
• The seller pays 1% (minimum of N$1 000) of the agreed purchase price or market value, whichever is higher; regarding immovable properties within Namibia; or 4% where such portion is paid by way of mortgage bond regarding immovable properties situated outside Namibia; plus stamp duty payable at rates prescribed under section 6(2)(a), 6(2)(b), 6(2)(c) and 6(2)(d).