How Much Money Will Actually Land in My Bank Account After the Sale?

Wondering how much money you will actually receive after selling your property? Here is a simple breakdown of the key deductions every seller should know.

If you are planning to sell your property, you are probably wondering: how much money will actually land in my bank account after the sale?

It is a fair question. The answer is not just "the purchase price". Here is a clear breakdown of what typically gets deducted before you see your payout.

1. 🏦 Outstanding mortgage bond

The amount still owed on your existing bond (called the cancellation figure) must be settled first. This figure includes:

• Your remaining capital balance.
• Interest accrued up to the day of registration.

💡 Pro tip: Notify your bank as soon as the property is sold, and confirm the 90-day cancellation notice has been served. This avoids unnecessary penalty interest on the cancellation figure.

2. 🧾 Bond cancellation costs

Your bond does not just disappear. It must be officially cancelled at the deeds office by the bond cancellation attorney appointed by your bank. These legal and admin costs are for your account, typically R3,500 to R6,500 depending on the bond size.

3. 🏙️ Municipal and levy clearance figures

Before registration, your account with the municipality and the body corporate (if applicable) must be fully paid. This usually includes:

• 2 to 3 months' rates and levies in advance.
• Estimated amounts to ensure nothing is outstanding when the new owner takes over.

Any overpayment is refunded after registration. The municipal rates clearance certificate is a deeds office requirement, so registration cannot happen without this step being complete.

4. 🤝 Estate agent's commission

The commission you agreed upon with your estate agent will be deducted from the proceeds at registration. The standard South African residential commission is 5% to 7.5% plus 15% VAT, negotiable on higher-value properties.

5. ⚡ Electrical certificate and other compliance costs

An up-to-date Electrical Certificate of Compliance is a legal requirement under the Electrical Installation Regulations 2009 on every property sale in South Africa. If you do not already have one, the cost of inspection and any required repairs will be deducted from your proceeds. Other compliance certificates may apply depending on the property:

• Gas certificate (if gas is installed).
• Beetle certificate (Western Cape and KwaZulu-Natal common practice; optional elsewhere unless required by the buyer or bank).
• Electric fence certificate (if installed).
• Plumbing or geyser certificate (Cape Town only).

✅ In short

You will receive the purchase price minus:

• Outstanding bond amount
• Bond cancellation costs
• Municipal and levy clearance figures
• Agent's commission (plus VAT)
• Electrical certificate and any other compliance certificate costs

If the property is not your primary residence, capital gains tax (CGT) on the sale gain also applies. For primary residence sales, the first R2 million of capital gain is exempt from CGT under the SARS primary residence exclusion.

Related Africa Estate guidance

• How to sell a house in South Africa: the seven-stage seller journey including agent mandate, pricing, viewings and conveyancing.
• The residential transfer process explained: the conveyancer view of how the proceeds are settled at registration.
• Africa Estate calculators: bond repayment, transfer costs, CGT and amortisation calculators on the homepage.
• Residential property glossary: definitions of bond cancellation, rates clearance, conveyancer and other terms used here.

Need help calculating what you will walk away with on a specific sale? Contact Africa Estate. We prepare a full net-proceeds estimate before you sign the mandate so there are no surprises at registration.