0769327250
Nyala Rock Estates
New Development, Waterfall East
No more units from Developer... Sold Out!
NYALA ROCK ESTATES
Whether you’re looking to invest in a new property, need help selling your current one, or anything else real estate-related, I’m happy to work with you in achieving your goals. With years of experience working as a certified Real Estate Agent, I’m a seasoned and dedicated professional ready to cater to all your real estate needs.
Nyala Rock Estate
NEW DEVELOPMENT IN WATERFALL EAST
Nyala Rock Estate is a sectional title property. Houses consist of 3 bedrooms, 2 bathrooms, open plan living room, dining room and modern fitted kitchen, Patio with braai area and pet friendly garden. Choice between double or single garage.
The house has a stunning modern design that includes the high roof with exposed trusses.
Every unit has a patio with build-in braai and a small pet friendly garden. Table tops in kitchen and bathroom is standard fitted with granite tops.
The development is now in its final phase. This is your last chance to purchase a unit at this selling price.
WHY RENT WHEN YOU CAN BUY.
Invest in your future
Getting involved in real estate is a big life decision that can involve a lot of paperwork and red tape. That’s why it’s crucial to take an informed and well-planned out approach. Natalie Jacobs is here to guide you through the process every step of the way, and provide all the resources and services you need.
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With Nyala Rock Estates, you will be the first owner of a brand new property.
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All you need to know and more before purchasing your very own Nyala Rock Estate home.
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OPEN PLAN
LIVING ROOM, DINING ROOM &Â KITCHEN.
Lovely open plan layout with high roof and exposed roof trusses. If you prefer the ceiling under the roof trusses the developer will make the adjustment for no extra cost.
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KITCHEN
MODERN FINISHING WITH A
PERSONAL TOUCH.
You can either choose this beautiful kitchen layout or go with the option to design your own unique layout to your fit your lifestyle and preference within the budget. There are many different cupboard colors and tiles to choose from to make your kitchen the way you have always wanted it to be.
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TWO BATHROOMS
BATH, TOILET & BASIN AND
SHOWER, TOILET & BASIN EN-SUITE
The show house floor tile has been discontinued, you can now go to any tile company and choose your own tile color with in the developers tile budget.
PERSONALIZE YOUR HOME
Additional Features
CHOOSE CUPBOARD COLORS
Large variety of cupboard colors to choose from. Our cupboard contractor will guide and provide you with different options of designing our own kitchen layout.
CHOOSE YOUR OWN TILES
You can go to your favorite tile company and choose your preferred tiles within the developer's budget for walls, floors and bathroom and kitchen mosaic sheets. Just provide the developer with the tile codes and consider it done.
LIST OF OPTIONAL
EXTRAS
The developer provides you with a list of optional extras that you can choose from to personalize your unit before move in date. These extras include; door from garage to house, electric garage motor, extractor fan, extra plugs and more. Be informed that extras are not included with sale and must be paid in advance.
Finance
MAKE AN INFORMED DECISION AND KNOW WHAT TO EXPECT.
BOND AFFORDABILITY
This calculation is just to give you an estimation many other factors will determine the outcome. Single or combined salaries are excepted. Gross income (Before deductions)
R 849,000 - R 30, 700.00
R 979,000 - R 33,800.00
MONTHLY EXPENSES
The following calculations were made on 10.25% interest rate over 20 years, this is to give you an
estimation of your monthly Bond repayments when purchasing the unit of your choice.
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Bond Single Garage - R 8,334.15
Bond Double Garage - R 9447.56
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ESTIMATION OF OTHER MONTHLY EXPENSES
Body Corporate Levies - R 850.00
Municipality Rates & Taxes - (+-) R 800.00 (Depends on the value of the property)
Water Usage - R 350.00 (Varies based on consumption)
Electricity Usage - R 800.00 (Varies based on consumption)
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Why do you need to pay these fees?
Rates, taxes and levies are fees paid to the authority that services your property such as a body corporate or municipality. These are the costs involved in running the complex, and include municipal rates and taxes, limited building insurance coverage, repairs and maintenance
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ONCE OFF PAYMENTS
Bond Registration Cost Includes the following:
Attorneys fees for taking instruction:
Drawing Power of Attorney to pass Bond,
Drawing Bond and other documents,
Lodgement and registration,
Other Bond Registration costs:
Correspondence, etc
Postages, petties and telephone
Deeds Office Search Fee
Courier Fee
Deeds Office Fee
Electronic Facilitation & Stordoc
Verification Charges
Bond Registration Costs Single Garage - R 22,788.32
Bond Costs Double Garage - R 23,904.32
The following fee is what the bank charge to open a loan account.
Bank Initiation Fee of R 6,100.00 VAT included
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- (No Bond Costs Payable on Cash Sale) -
Provisions must be made for the following:
Municipality Connection Deposit (+-) R 500.00
Sectional Title - Levies first Payment (normally 3 months)
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The Purchase Process
THE PURCHASE PROCESS
CHOOSE A UNIT NUMBER
Step 1
The first step of the purchase process is to choose your very own unit number, take note of the following:
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Is it a Single or Double Garage?
Where is it situated?
Is the entertainment area (Patio & Braai area) at the back or in front of the street?
What is the square meters of the stand.
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Note: A holding deposit are required to secure your unit number while applying for a home loan.
THE PURCHASE PROCESS
OFFER TO PURCHASE
Step 2
Sign the offer to purchase (OTP) and pay the R 7000.00 deposit to secure the unit number of your choice on your name. If your are married in community of property or traditional marriage, both husband and wife will need to sign the Otp and must apply for a home loan together.
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Note: The deposit of R 7000.00 will be invested at the bank of your choice and is refundable with interest should your home loan not be approved. However if your home loan is approved the deposit will be used as a first payment on the bond cost. If you are a cash buyer there will be no bond costs payable and the deposit will be refunded to you with interests earned.
THE PURCHASE PROCESSES
DOCUMENTATION
Step 3
Prepare the following documentation:
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Transfer Attorney
Copy of Certified ID
Proof of Current Residence
Copy of Income Tax Certificate
Copy of Bank Statement
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Bond Originator
Copy of ID
3 to 6 Month's Bank Statements (Originals with bank stamp)
3 to 6 Month's Payslips
Proof of Current Residence
Copy of Marriage Certificate (if applicable)
The home loan approval process can only be efficient if all the correct documents are provided.
THE PURCHASE PROCESS
APPLYING FOR HOME LOAN
Step 4
Bond originator
The bond originator will process your documentation and submit your home loan request to all the banks for approval. She will give your regular feedback and help you make a informed decision.
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Bond approval
The Banks will complete the credit assessment, using the supplied documentation as well as information obtained from a credit bureau regarding your current credit status. If this is all in order, you will receive notification of approval of your bond application. This approval is subject to the completion of the valuation to ensure that the property is of value and that the bank is willing to finance it. If your application is declined, they may recommend steps you can take in order to obtain financing.
Bond acceptance
After your loan has been approved, the banks prepare a home loan proposal, called an LOA (Letter of Acceptance) or AIP (Approved in Principal). This document details the costs, interest rate, indicative installment and other important information for you to evaluate and sign. You can now weigh your options between all the Banks offers and make your decision based on who will provide you the best interest rate.
Once you have decided on the bank you want to finance your property with you will be required to sign the legal documents to finalise the loan agreement.
Please be advised this very important: Before a Home Loan is granted, your financial position and credit record will be checked again to insure that your financial status has not change from the date of acceptance and date of registration.
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Bond registration process
After signing the loan agreement with the banks the following process will start:
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The bank will instructs the bond attorney to begin registering the bond.
The seller will advise the Transferring Attorney to transfer the property. A rate clearance is requested from the local authorities/municipality.
The Bond Attorney contacts the transferring attorney and advises the amount available for guarantees. They then request the draft transfer deed and guarantee requirements.
Once the transfer attorney has received the title deed and cancellation figures, the buyer and the seller sign the transfer documents. The buyer pays the transfers costs to the Transferring Attorney.
The Bond Attorney prepares the bond documents and the buyer signs these documents and pays the cost.
The Bond Attorney lodges the documents at the deeds office.
The deeds office receives the documentation and checks it before being registered.
This process can take about three months from the date of approval. The Attorneys will notify the Developer of the bond approval and while the legal process is on going the Developer will build your unit. It will take them more or less than 2 months and 2 weeks to complete your unit.
Step 5
THE PURCHASE PROCESS
THE BUILDING PROCESS
Congratulations
You will soon be the proud owner of your brand New home.
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Now the fun part begins, you can now customize your new home with your own personal touch. You must first decide on the finishing of your property before the developer can start building your home.
Finishing & Extras
The developer will contact you to book an appointment to discuss all the changes you want to make to the unit for example; what tiles you prefer, if you want the ceiling to be brought down under the roof trusses or maybe you want to order some extras to be installed in your unit. I can email you a list before meeting with the Developer. Please note that if you decide to order extras for your unit that it can not be included in the purchase amount and must be paid in advance so the Developer can order and install it for you, they will provide you with a invoice for your acceptance and you will be required to pay it in advance.
Cupboard Contractor
Another appointment will also be made with the cupboard contractor so you can design the layout of your kitchen with in the budget.
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Additional Extras
Also take note that there is no window railings, blinds or poles included in the sale and that you must make arrangements to purchase and install it on your own costs. If you want to install air conditioning or security gates you must also make your own arrangements with the contractors you decide to use.
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Completion of the unit
The Developer will contact you to sign a "Happy Letter" in other words a letter of satisfaction after your unit has been build and all alterations have been made. Note that the happy letter is only to confirm that the property is completed according to the specifications that was handed in to the bank during the loan process at the beginning. If you are not fully satisfied of your unit's finishing the Developer will repair or replace what ever is necessary before registration. Also remember that the developer gives you 7 day's after registration to report any defaults to the property that may have been overseen before and they will repair within 30 to 60 days. The developer furthermore gives you 1 year guarantee on Cracks, Roof leaks, Structural defects, and any defect that could not have been reasonably detected within the 7 day period which the developer undertakes to rectify or make good within a period of 90 days.
Occupation Rent
If you want, you can move in to your New home before registration however you will be required to pay occupational rent to the Developer.
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Single Garage Unit - R 6,500,00 pm
Double Garage Unit - R 8,000.00 pm
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If your are paying more where your currently living you can save some money before registration. If not you can wait for registration before moving in. The bank will only require your first bond installment before the 15th of the month the property is registering in. Lets say you have already paid your occupational rent for the month ahead and the property register within that month the Developer will refund you the days in which the property was no longer in his name. Also remember that once you move in to your property on date of occupation all profit, loss and risk with regards to the unit will pass to you as the purchaser.
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- Always make sure to put all the changes and correspondence with the contractors and any one involved in writing to cancel out any misunderstandings that may arise. -
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THE PURCHASE PROCESS
MOVE INTO YOUR NEW HOME
Step 6
Moving into your new home is an exciting experience, but it can also be overwhelming. Here are some tips to help you settle in faster.
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Change address with all relevant parties and specific authorities. You can get a 'Change of Address' form from the Post Office to make the necessary changes.
Remember to sort out your utilities (water and lights) connections.
Locate your nearest emergency services: closest hospital, local police station, etc and record their numbers.
It's a good idea to meet your neighbors and find out about any initiatives in the area to combat crime, etc.
In case of an emergency, make sure you know where to find the main shutoff valve for water, the fuse box and any other important switches.
HOC and insurance cover will be in place from date of transfer or occupation.
Always plan a budget for other expenses like maintenance and repair, service costs such as security alarm, gardening services and any other home emergencies
Every building has a life cycle, which means your home will require major repairs at some point. Repairs must be expected and planned for. Set aside an emergency fund to deal with unexpected problems ranging from major repairs to illness and job loss.
Live within your budget. Prepare a monthly budget and stick to it. You should monitor your spending every month and evaluate your progress in meeting your financial goals.