236 OSTRICH-FARMING IN SOUTH AFRICA. 



office of the '• Register of Deeds/^ Cape Town, where 

 all transfers are resistered, and a deed of transfer is 

 handed to the purchaser. Here, too, all mortgages are 

 registered. If the land is purchased by auction, the 

 purchaser always has to pay all expenses of advertising, 

 auctioneer's fees, and transfer dues. The latter is 

 4 per cent, on the purchase money ; the auctioneer's 

 fees are often 2 J per cent,, the seller making a private 

 bartrain with the auctioneer to divide the amount, the 

 auctioneer seldom actually getting more than 1 per 

 cent. But this is sharp practice, and many sellers 

 will only charge the purchaser the amount that the 

 auctioneer is actually paid. 



The usual terms of credit are : — all the above ex- 

 penses to be paid on day of sale ; first instalment in 

 three months, next in six, and the others in twelve, 

 eighteen, and twenty-four months ; the purchaser 

 finding two approved sureties for the due fulfilment 

 of the conditions. Transfer to be given after pay- 

 ment of the second instalment, the purchaser passing 

 a mortgage bond as security for the payment of the 

 remaining instalments. In private sales a certain 

 amount down is often mven in lieu of findinfy sureties. 



Two-thirds is generally the outside that can be ob- 

 tained on a mortgage bond ; and a purchaser should 

 see his way to paying one-half of the amount, if he 



