BUYING OFF-PLAN

1. What is buying off-Plan?

Early Inverstment Opportunity

Buying property off-plan means that you are buying an apartment directly from a property developer prior to the scheme being built. The schedule of finishes, HD renders, site plans, floor plans and on-site visits with Evolution Properties will assist you in deciding which apartment is right for you.

2. Benefits of Buying off-Plan

no surprises

Buying off-plan has become a popular way to owning a brand new apartment in the most efficient way possible. Be the first to live in a brand new specced apartment. One of the biggest benefits of buying off-plan is that there are NO transfer costs or attorneys fees, these are included in the sales price of the apartment so there will be no surprises.

3. DE-RISK WHEN BUYING OFF-PLAN​

invest in a successful development brand

The biggest consideration when buying off-plan is that some developments don’t materialize due to various reasons. The smartest thing a buyer can do is buying into a successful development brand.

The team behind The Pinnacle has completed multiple successful projects, to name a few Urban Artisan Apartments, 55 Linden Lifestyle Apartments, Sussex Studios, Swift Studios, The Pals Building, The Cornerstone Campus and the newest addition Brickworks. Buying into a tried and tested recipe is imperative.

Select your exact unit/s on the The Pinnacle website and checkout with the unit/s in your basket. Your reservation deposit will be paid into the trust account of ENS.


One of our sales agents will get into contact with you as soon as you have reserved your unit. You have three working days to complete the relevant documentation.


Once all the documentation is complete, it is time to pay the balance of your deposit. Proof of payment must be received within 7 days of reserving your unit.


If you have opted to buy an apartment with a bond you will have 30 days in which you need to furnish us with a bond acceptance letter from the bank. In our experience we believe that making contact with a bond originator makes this process seamless, BetterBond is a national company with years of experience in assisting buyers obtain bonds. Buyers are categorized in the following categories:
  • Bond Purchasers: Minimum of a 10% deposit is required with a 90% bond.
  • Cash Purchasers: Minimum of a 30% deposit is required with a guarantee provided for the 70%.
  • Multiple Transactions/Foreign Buyers: Minimum of a 20% deposit/50% deposit if you are a foreign purchaser.


The developer and his professional team has given the go ahead to start with the development.


All buyers are continuously updated in order to ensure transparency regarding the final construction date. The development is starting to take shape.


The developer and his professional team are in agreement that the development is complete. The relevant conveyancer will now process the transfers. Each owner will now receive their title deed with the relevant details of their sectional title unit.


Body corporate formation will take place within 2 weeks of transfer. Those buyers whom financed their apartment via a bond will only need to service this repayment on the date of transfer.


4. NEED TO KNOWS

Business & culture hub

Experience the best of Cape Town’s central business hub on the corner of Strand and Burg streets. Cape Town is famous for its harbor, floral and mountain settings, all of these landmarks sit right at the pinnacle of this spectacular mixed-use development.

DISCLAIMER *

A basic Purchasing Process Guide

The material is provided as a very basic guide to familiarizing a buyer with the purchasing process in a new sectional title development and is for information purposes only. There are a number of factors that need to be met in order for the development to take place. Please consult with an attorney if you are unsure with a process that relates to the buying of an apartment.

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