LAND SALES PROCESS

Step 1

• The Potential Developer / Purchaser (hereafter called the Developer) will secure an appointment with a Sales Consultant (031 5004628 or 0800 212164 toll free).
• Meet the Sales Consultant and go through the Bridge City vision, concept, permitted uses, zoning, development controls and Precinct plans.
• The Developer must prove that he is able to raise finance for the deposit, the balance of the purchase price and the estimated development costs.
• The Developer must indicate what legal entity (e.g. a company, CC, etc) will purchase the site(s) and undertake the development and must supply details of the directors/members and its current financial standing.
• Once the proposed development concept and the intended use is agreed, the Developer, in conjunction with the Sales Consultant, selects a particular site/s or block of sites that most suits the concept.
• The Sales Consultant hands over all relevant plans & documents i.e. Precinct Plans, Sales Plans, Development Manual, Construction Design Review, Developer Checklist & S.G. (Surveyor General) Diagrams, if available.
• Q & A Session.

Step 2

• The Developer will secure a second appointment with the Sales Consultant to present the initial concept and business plan with conceptual designs prepared by his architect. The business plan must show that the development is likely to be financially viable.
• Comments are recorded by the Developer to be addressed for further presentation to the Sales Consultant.
• The parties to meet again to again look at the concept / business plan, if needed.

Step 3

• Once the concept and business plan are acceptable to both the Sales Consultant and the Developer, the Sales Consultant will schedule the first formal DRP (Design Review Panel) Meeting.
• The detailed Design Concept, Business Plan and preliminary feasibility study is then presented by the Developer and his Technical Team to the DRP.
• Q & A session with the DRP.
• Further DRP meetings will be held until the DRP is satisfied that the development scheme is within the Precinct Plan and Scheme controls, the bulk (to be purchased) is within the maximum permitted bulk and the overall scheme is acceptable to the DRP (as provided for in the Development Manual).
• A Draft Sale Agreement is then prepared and sent to the Developer for comment.
• Action points are agreed and recorded by the DRP Team and the next DRP meeting is scheduled.
• Minutes of the meetings are circulated to all present.

Step 4

• Once all the design scheme issues have been resolved and the developable bulk is agreed, then the Sale Agreement is finalized and submitted to the Developer for final consideration and signature.
• A Signed Sale Agreement is then submitted to THD with all relevant supporting FICA (Financial Intelligence Centre Act) documents and other annexures as required by the sale agreement (failing which, the agreement will not be signed by the seller). Proof of deposit of the Deposit (10% of the purchase price) into THD’s Attorney’s account must also be submitted to THDev, on the date of signature by the seller. Failure to make the deposit will render the sale agreement null and void (cancelled).
• The process is then handed over to THD and its nominated Conveyancing Attorneys to effect registration of transfer of the property into the name of the Purchaser.

Step 5

• The process of DRP approvals continues. This process is outlined in the Development Manual and includes approval of both a Site Development Plan (SDP) and Building Plans, firstly by THD and then by eThekwini Municipality.
• Development on site may only commence once the Building Plans have been approved by eThekwini Municipality.