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Buying Cluster Homes

Determine what you own when you purchase a Unit.
Property around the unit is shared by the owners of the building. The units and improvements are owned singularly by all the Sectional Title unit owners.
Common property like a swimming pool , a pathway, staircase etc is owned by all unit owners. The units are free standing and or attached as in a block of apartments . Note that garages and car ports are assigned to a specific unit. There may be a case where a unit may be sold without a garage. As an example the building may have four units and three garages. The garage close to the unit you intend buying may belong to another unit. Determine the shared and common ground.   Studying a plan is a good place to start. Note that some cluster homes do not have a body corporate. Responsibilities and cost s of services are carried out or borne by all unit members.
Costs and Levies
A levy is paid by owners of units. Service and maintenance costs are borne by all the unit owners.
Before buying a cluster home determine the levy to be paid. Find out if there is a once off levy to be paid in the immediate future. Sometimes there could be need to undertake major repairs and maintenance to the buildings. In this case a once off levy is charged, perhaps R10 000.
Further, when you buy a unit through an auction the purchaser inherits all the arrears accrued by the previous owner.
The purchaser pays a conveyancer ( an attorney who is qualified to attend to the transfer of a property. at the deeds office) for the transfer and registration of ownership of the property. The purchaser also pays for the registration of a mortgage bond.The mortgagee ( financial institution that holds a mortgage bond over a property) recommends a conveyancer on their panel. There is always room for negotiation on these fees and choice of conveyancer. You are advised to discuss these fees with your bank and attorney to ensure that you are not over charged. Like all transactions, you have to politely question the amounts levied. When purchasing a property, the financial institution granting the mortgage will require a valid entomologists and electrical certificate. Common Law requires that the seller pay for these services. The seller may state in the agreement that the purchaser/s pays for these services. In some instances these costs can be avoided if current certificates are valid. Also, there may not be a need for major repairs !!
Body Corporate
A Body Corporate manages the affairs of the building. Each unit owner has a right to stand for election to become a member of the Body Corporate.The Body Corporate sets an annual levy which is paid on a monthly basis for refuse removal, sewer charges, general rates, rates on buildings and improvements and rates on the land. In some buildings the water charges are included in the levy. The Body corporate elects trustees that manage the affairs of the Building. A management company is appointed and is entrusted to collect levies and disburse funds on behalf of the Body Corporate. This becomes one of the expenses of the Body Corporate. Body corporate members are not paid for their services rendered.
Rules
The Body Corporate will also put in place rules that will assist the unit owners. Before you buy a unit, find out what rules are in place. Pets may not be allowed in some buildings.  Rules are normally set in consultation with all unit owners.
For free online advice email Zubeida Cassim   ( CEA ) z4property@hotmail.com                                                                                            Mobile 072 809 4906 www.zubeida4Property.co.za

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