With expertise in property development, project management and sales, the team will assist you in your buyers journey.
Sales Process
Michelle is here to assist you with any questions!
How does the sales process work?
Buyers sign an OTPand pay a deposit to be held in the attorney’s interest-bearing trust account. Your agent will make all documentation available to you for perusal and signature.
The attorneys counter signature it and a copy is returned back to you.
Bonds + Transfers
Once my bond is approved, when do I start paying?
Bond repayments will commence once the property has been transferred to your name and the bank has settled the payment to the seller.
Bond Registration Costs
Bond costs are payable at the time that the bond registers, once the development is complete.
Transfer Duties
There is no transfer duty payable but there are transfer fees (attorney costs).
The seller is registered for VAT so there will be no transfer duty but only transfer costs payable on the vacant plot.
What are the transfer + bond fees?
To calculate the transfer costs you can click on the below link:
Transfer CostsTransfer costs include transfer fees (inclusive of vat), Deeds Office levies and transfer duty. Transfer costs exclude postage, petties and application fees associated with obtaining clearance figures.
What do the levies include?
The levies are R500 per month that covers the costs of security, cleaning & upkeep of the common areas and entrance.
Monthly Rates
Monthly rates are based on the value of the property and are calculated based on the value of the property and then multiplied by 0.006344 to get your yearly rates. Divide this by 12 to get your monthly rates.
Are there any hidden costs?
The contract price is the price the client will pay for the property. You must be aware that there is occupational interest due from the date you take occupation until you take ownership (transfer takes place).
The other costs applicable are detailed above and include monthly rates and levies. Bond costs will be payable prior to registration of your bond once you take transfer of your unit. Transfer costs at this point will also be applicable but these costs are largely offset by the interest that you earn on your deposit during the construction period.
When will we be able to move in/find a tenant?
After the completion of the development- 3 to 4 months, occupation will be given as soon as an occupation certificate is granted. You will be able to occupy or rent out your apartment from the date of occupation. Rental agreements must be approved by the Body Corporate.
What happens if my bond is not approved, do I get my deposit back?
No deposit payable however you should get pre-qualified before your OTP - offer to purchase.
What will happen to
my deposit in the interim?
The attorneys will invest the deposit on your behalf and interest earned will be for your benefit. The deposit is refundable.
Will I need to pay
VAT or transfer duty?
The selling price includes VAT and no
transfer duty is payable. You will however by responsible for the transfer fees and bond registration fees, if you will be using bank finance.
Investing? Here's More About Tax Incentives
Investors have access to powerful tax incentives, including the popular Section 13sex of the Income Tax Act No 58 of 1962. This scheme enables any taxpayer who owns five or more new, residential rental units (do not all have to be from the same development), to claim up to 55% of the purchase price as a tax deduction.
Home Loan Application
Where can I get Home Loan Application Assistance?
When you are ready to start your Poplar Grove buyers process, contact Dewald at Mortgage Express to get pre-qualified for a home loan by filling out the Pre-Approval form and submitting it online.
Once you have found your perfect Poplar plot+plan and are ready to submit an offer to purchase, contact us for assistance with your home loan application.
Estate Life
Join our vibrant community in this new security complex.
What is the minimum age prefered at PGE?
No age restriction but bear in mind the estate is geared towards scaling down and thus not suitable for extended families or additional buildings.
Is my dog or cat welcome at PGE?
Small dogs will be considered as well as cats and will be voted on at the AGM.
Small size gardens are not suitable for big size dogs and thus won't be allowed.
What type of social events are there at PGE?
The Estate don't offer any onsite facilities but is very conveniently close located to all shops and some restaurants.
Design Enquiries
Make Your Pre-Installed House Features Uniquely Yours... Get Out Your Paint and Decor Swaps
What if I like to add a indoor braai or fireplace?
You can discuss these added features with the developers who will provide you with quotations. Outside braai areas need to be approved by the Body Corporate and developer.
Will my garden be fenced?
Backyard Security Fencing will be installed by the developers. Refer to the Estate Rules Brochure and Building Specs Files for info on allowed materials for fences.
