The process of buying a new GROFO PROPERTIES house

ASSESMENT:
The first step in buying a home is to assess your needs

• What sized house do you need
• Where would you like to build it
• How much can you afford to pay

You will then need to contact our Office 0118387971 and we will connect you to one of our GROFO PROPERTIES Agents in your chosen area.
Alternatively, you can provide us with your contact details and we will contact you. Let us help you turn your dreams into realities!

INFORMATION:
Your GROFO PROPERTIES Agent will require the following documentation from you:

• A completed GROFO PROPERTIES Client Information Form.
• A clear copy of your I.D.
• Proof of current address
• Copy of your most recent Pay Slip

Please take note of the following:

Co-applicant
If you have a co-applicant (a person who is buying the house with you) then we will need the same documentation from them.

Commission or over-time
If you earn commission or over-time, we will require a total of six months pay slips in order to calculate an average monthly income.

Married in Community of Property
If you are married in COE, we will need a copy of your marriage certificate and your spouseís I.D.

Divorced
If you are divorced we will need a copy of your divorce certificate.

Subject to Sale
If you are already a home owner and are wanting to sell your existing home in order to buy a new home, we will need a letter from your Estate Agent, indicating the value of your home and your intent to sell.
"If you do not have an Estate Agent we will gladly refer one to you".

CONSULTATION:
GROFO PROPERTIES will conduct a Credit Check and Affordability Profile for you once we have received all your information. Your GROFO PROPERTIES Agent will then contact you for a consultation.
At this meeting we will discuss your credit profile with you as well as your affordability by indicating the maximum loan amount that you will qualify for.
We will provide you with a range of affordable housing options, different sizes and different prices as well as detailed breakdowns for each as to what your monthly bank repayments would be ñ this is calculated on the current prime interest rate to give you a better idea of your affordability. Your agent will also discuss the layout of your plan and assess any special requirements you may have.
By the end of the consultation we would have designed a building package around your specific needs and affordability, having agreed on the size, price and plan of your new home.

STAND SELECTION:
Your Agent will then take you to your chosen area and point out a selection of stands for you too choose from. Once you have selected the stand of your choice we can then proceed with the documentation as we will need to indicate the stand number on the bank application as you are on your way to owning that very piece of land.
For this reason, we cannot change the stand number once the application has been submitted to the banks.

INTERVIEW & BANK APPLICATION:
Based on our previous consultations we would have prepared the documentation for you, together with your final quote, indicating all your requirements. You, and your co-applicant, will need to provide us with a copy of three months bank statements and will need to sign the following documentation before we are able to submit your application to the banks:

• Final GROFO PROPERTIES Quotation
• House plan
• Building Contract
• Offer to purchase
• Schedule of finishes NHBRC Enrolment Certificate
• Power of Attorney
• Connection documents

Your Agent will then arrange a meeting time for you to come to our offices for an interview with one of our client liaisons officers.
They will expertly guide you through a detailed interview which will ensure you get the finishing touches you wanted for your new home. They will also explain the process from here on after in greater detail, concerning the Bank Applications; Attorney Procedures; Lodgement at the Deeds Office; Registration; Plan Approval; NHBRC Enrolment; Connection Fees; Construction and finally the Handover.

BANK SUBMISSION:
Your completed application is then submitted to all the major banks to ensure you receive a competitive interest rate. Although every care is taken by GROFO PROPERTIES to conduct a thorough affordability Investigation, the banks will also do a credit check, qualification work up and an affordability assessment in far greater detail, see New National Credit Act. Although we confidently submit the applications they can still be declined.
Once a bank has approved your application, they will instruct the attorneys to draw up the necessary documentation for you to sign. We in turn have the pleasure of informing you that your application was successful and will provide you with the details, such as the name of the bank which approved your bond application and what interest rate they awarded you.

REGISTRATION:
Now that your bond has been approved, you can sit back and relax while GROFO PROPERTIES’s team of experts handle the rest of the details on your behalf, right up until the day we hand you the keys to your new home!
You will be required to sign the final grant papers from the bank, accepting their offer as well as the transfer documents. The transfer attorneys then need to confirm that the services in the area have been completed, clearance on the land has been paid and that the transfer duty has been issued by SARS.
The bond attorneys must make sure they have a proceed from the bank that all their conditions have been met.
Once both parties are ready the following two things happen:

• They need to transfer the property over into your name
• They need to register a bond in favour of the bank over the property.

The bond over the property is removed once you have paid the bank back in full. You cannot sell your house while it is still bonded to the bank, that is why you apply to have the property transferred over into a new ownerís name. In light of this you will be required to sign documents with the attorneys which legally bind you to this agreement.
The attorneys will then lodge these documents with the Deeds Office for registration.

CONSTRUCTION:
Once all the documentation is in place and the property has been registered into your name we can then begin construction.
Our team of professional project managers will supervise the entire construction process on your behalf.
The Construction Process unfolds as follows:

• The Architect receives your approved house plan. He then expertly studies the layouts from the council, stand and building lines and marks out where the electrical, water and sewage connections for the council are, and then positions your house on your stand, taking all these factors into account as well as the slope of the land and the movement of the sun.
• The Project Manager then takes your plan to the council for approval. It is during this time that we pay all the connection fees to the local council for your electricity, water and sewage. It is important to note that once your connection fees have been paid to the council you become instantly viable to start paying these monthly accounts. We strongly advise you to go to the local council on a monthly basis, whilst construction is underway, to settle any amounts owing so as not to be faced with accumulated council charges when you first take occupancy.
• The Builder goes to your stand and starts planning your project. He orders all the materials he will need and ensures his team are ready to start building as soon as they receive the instruction to do so. The construction of your house can only start when both the stand and bond have successfully been registered at the Deeds Office.
• During the building process the following parties inspect the construction:
• Engineers
• Council
• NHBRC
• Your Bank
• GROFO PROPERTIES’s Project Manager

These parties ensure your house gets built according to your approved plan and specifications and that the builders meet the specifications as stipulated by the National Home Builders Registration Council.
See Know your facts - NHBRC

• Interim Interest and, It is important to note that although GROFO PROPERTIES make estimates the possible calculated amount of interim interest and works this figure into your bond, it is possible that it may not be a sufficient enough mount to cover the interim interest costs during the construction period, especially since we cannot guarantee a specific time frame. In the event of your predetermined calculation falling short, you will then be liable to cover the interim interest on a monthly basis with your bank.

OCCUPATION:
When the finishing touches have been made to your new house, you will be contacted by the Project Manager to arrange for the handover.