Buying a property involves additional financial requirements beyond the agreed purchase price:

• Deposit: A customary agreed on deposit is paid into the agents or conveyancing attorney’s trust account upon signing the Agreement of Sale.
• Transfer Duty (Tax): Paid by the buyer to the Botswana Unified Revenue Service (BURS):
  • Botswana Citizens: Exempt on the first P1.5 million; 5% applies to any amount above that.
  • Non-Citizens: 10% on property value up to P2 million, and 15% on any portion above P2 million.
  • Note: Tribal land grants and transactions where VAT is charged are exempt.
• Conveyancing Legal Fees: Fees charged by the conveyancing attorney to transfer the title or leasehold, typically ranging between 1% and 1.5% of the property value.
• Bond Registration Fees: If you are financing the property through a bank, legal fees and administrative costs apply to register the mortgage bond over the property (roughly 0.5% to 1%).
• Valuation & Administrative Fees: A property valuation report fee (if required by your lender), plus minor council rates clearance fees.

Take a look at our ‘Foreign Investor Guide’. It will help you know what to expect when procuring in Botswana. 

foreign_investor_guide

As a seller, typical costs include:

• Real estate agency commission (agreed upon prior to listing).

• Valuation fee (if required prior to pricing).

• Capital Gains Tax (CGT) (where applicable under Botswana Unified Revenue Service regulations).

• Clearance fees for utility accounts.

A formal valuation provides an accurate, objective market value of your property. It is required for mortgage applications with commercial banks, insurance assessment, estate planning, taxation, dispute resolution, and setting an accurate listing price for sales

Our charge is based on a fee scale. The value of the property is what determines the total amount payable. There is a deposit you pay, thereafter we do the valuation inspection and determine the price. Call our office today for the full fee scale.