Frequently Asked Questions

1. What is a real  right?

A real right or real right of extension is a right ceded by the developer to a purchaser to develop (Build a house on) a specific portion of the sectional title scheme. This is a commonly accepted, legal and completely secure method of purchase which is underwritten by all the major SA Banks.

2. How does the registration process happen?

Once the sale agreement has been signed, the purchaser needs to pay for the portion by means of cash or guarantees. The conveyancing attorneys will then facilitate the registration of the real right with the deeds office into the purchasers’ name. When the purchaser has completed the construction of his home, the purchaser will have to have the building surveyed. The building then gets incorporated into the Sectional Title Scheme and re registered at the deeds office with the area not under building becoming an exclusive use area. The real right will then simultaneously fall away, as the home is now registered as part of the sectional title scheme.

3. Can I get a bond?

All the major SA Banks are committed to financing purchasers on Wozani Ridge. However they will not finance the purchase of just the stand portion. They will only finance a package deal with the land portion and building contract combined. This means that all the building specifications need to be finalized before the finance is applied for

If a purchaser needs to finance the purchase of the land portion only, the finance would have to be secured using another property as security.  This would allow the land to be obtained immediately, and the house to be constructed later once finance for this purpose has been raised.  The Developer allows 36 months for this purpose.

4. What is the difference between buying a Real Right and buying into a Sectional Title Scheme.

Simply put, the purchaser of a unit in a sectional title scheme would be purchasing a completed unit within the scheme, with little or no say in the design of that unit. The purchase of a Real right within a sectional scheme entitles the purchaser the have an influence on the design and construction of the unit as the construction only begins after the purchase. From the developers’ point of view, generally he would only get paid for the unit in a sectional title purchase once the unit is complete. With a real right purchase, the developer would get paid out for the stand upon registration of the right into the purchaser’s name. Thereafter the builder/developer would receive progress payments on the building as it progresses. The real rights route has obvious advantages in that it allows the developer improved cash flow and carries less financial risk.

5. How long do I have to build?

If a purchaser buys the land portion only, using cash or similar means to pay, he would have three years to commence building.
If the purchaser is using bank finance, in which case he would be financing the land and the building together, the banks would generally want everything completed within 12 months.

6. Can I customize the design of my house

To a certain extent you can. There are five standard Villa designs from which to choose and a small amount of customization would be permitted to suit the Purchaser’s needs as well as the specifics of the individual sites.

7. What is the monthly levy and from when do I have to pay.

The monthly levy at the moment is R600 per month and is payable after the registration of the portion (stand) into your name.

8. What do the levies cover?

The levies cover maintenance to the common areas, such as roads,verges, gardens (excluding individual home owners gardens), fencing, eradication of alien vegetation and insurance of the estates assets.  

Individual home owners are responsible for payment of the insurance of their own units (compulsory) water and electricity consumption (individual metering is provided) and for the maintenance of their unit and garden.

9. What Security does the estate offer?

There is a controlled access with boom gates. The entire estate has electric fencing around the perimeter with 8 zones which are alarmed. Two security guards are on duty 24 hour a day with permanent patrols. Individual homes are alarmed with the owners entering into a contract with Chubb Security for armed response.

10. Are pets allowed?

It is a condition of the environmental permit granted to the developers by the Department of Environmental Affairs that no pets are allowed on the estate.

11. Can I rent out my unit?

Yes, but subject to the rules laid out in the use agreement.

12. Are domestic workers allowed on the estate?

Yes, but subject to the rules laid out in the use agreement.

13. Can I resell my land?

Yes, but it would be subject to approval by the developers. The reason for this is not to prevent a free for all with no control. Any owner wishing to sell as well as any estate agent wanting to work on the site, would need to use the developers’ standard documentation and procedures to ensure that the process is orderly and complies with the rules as set out in the use agreement.

14. What sewer arrangements are there?

All units have their own septic tanks.

 

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