The recent amendments to the conveyancing fee tariff have resulted in significant changes to the sliding scale used to calculate attorneys’ professional fees for property transfers. The revised tariff aims to better reflect the increased responsibilities, compliance requirements, operational costs, and professional risks associated with modern conveyancing practice.
Traditionally, conveyancing fees have been calculated according to a prescribed sliding scale, whereby the attorney’s fee increases progressively based on the value of the property being transferred. The updated scale introduces adjustments across various value bands, with particular emphasis on higher-value transactions where the complexity and risk of the transaction are generally greater.
One of the most notable changes is the restructuring of certain property value brackets, resulting in increased professional fees for transactions falling within those categories. While lower-value property transfers have seen relatively modest adjustments, properties within the mid- to upper-value ranges have experienced more substantial increases. This ensures that conveyancing fees remain aligned with the actual work performed and the increasing regulatory burden placed on attorneys.
The revised tariff also acknowledges the growing compliance obligations imposed by legislation such as the Financial Intelligence Centre Act (FICA), anti-money laundering regulations, and enhanced reporting requirements. Conveyancers are required to conduct extensive due diligence, verify client information, manage increasingly sophisticated financial transactions, and ensure compliance with various statutory requirements throughout the transfer process.
For purchasers and sellers, the practical effect of the new sliding scale is that transfer cost estimates may be higher than those calculated under the previous tariff. Estate agents, mortgage originators, and property practitioners should therefore ensure that clients are provided with updated transfer cost estimates when budgeting for property transactions.
Although the increase in conveyancing fees may impact transaction costs, the revised sliding scale assists in maintaining a sustainable conveyancing profession capable of delivering efficient, compliant, and high-quality legal services. Given the critical role conveyancers play in safeguarding property rights and ensuring the validity of transfers, the updated tariff reflects the value and responsibility associated with these professional services.
Property owners, purchasers, and property practitioners are encouraged to consult with their conveyancer regarding the updated tariff structure and the effect it may have on specific transactions.
by Lindie van Biljon