NEW DEVELOPMENTS/SECTIONAL TITLE UNITS
Steps for new developments
-Firstly land will be purchased for the purpose of building a new Sectional Title Development.
-Plans are drawn and taken to the local Municipality for approval. This can be the most time consuming part of the process.
-Before the Schemes are marketed and sold off plan by an estate agent nominated by the developer, we as the conveyancers would have had to draft a well structured Sale Agreement that will cater to the specific needs of the developer, and the new development. As each unit is sold the Signed Sale Agreements are sent to the conveyancer.
- The development is built- it can be built in stages or phases depending on the developers financial situation or requirements.
-draft sectional title plans are sent to the Municipality for approval
-Once the Sectional Title plans are approved and in the conveyancers possession, the Sectional Title register can be opened at the Deeds office for the new Development.
- The units are transferred to the new owners once their bond is approved or finance is in place. This can be done simultaneously with the opening of the Sectional Title register.
- The body corporate is formed when the first unit is transferred.