The peace of mind approach continues to apply even in the purchasing process. Straight forward and transparent steps mean you as purchaser can secure your unit with minimum fuss.
1. Select Your House
Grab the opportunity to select your most preferred house.
2. Sign The Reservation Agreement
R 10 000 Securing deposit has to paid into the appointed conveyancer’s interest bearing trust account within 2 days of signing the Reservation Agreement.
3. Sign the Agreement of Sale
Within 4 days of signing the Reservation Agreement, the unchanged Agreement of Sale needs to be signed.
4. Balance of The Purchase Price
In addition to the R 10 000 Securing deposit payable, guarantees for the balance of the purchase price will have to be provided within 21 business days of signing the Agreement of Sale. Houses cannot be bought subject to the sale of another property.
There are various types of guarantees:
4.1. Payment of the full amount into the conveyancers trust account. The purchaser earns interest on those funds until transfer.
4.2. Bank guarantee. Your bank reserves your funds for the purchase and provides a guarantee for the purchase of the unit. As account holder you continue to earn interest on your funds until they are paid over upon transfer for the purchase of the property.
4.3. Home loan. An approved home loan by a major bank serves a guarantee.
4.4. Cession. A note is made on one or more of your investments. The intention is that the funds will be used for the purchase of the unit.