1. Are Oasis apartments sold on the basis of Sectional Title or Life Rights ownership?

 

Sectional Title. We believe this form of ownership offers far better investment value to buyers, their families and their estates.

 

 

  1. What percentage of my capital do I lose when I sell?

 

You do not lose any of your capital when you sell! An amount of 20% of your nett profit will be donated to the Oasis Levy Stabilisation Fund; the other  80% profit goes to you or your heirs. This amount will be reduced between 2020 and 2030 until the donation reaches 15% of the seller’s nett profit. The Fund is run by the Body Corporate and Oasis Resort Property Owners’ Association. These monies are used by the Body Corporate and Property Owners’ Association to maintain and improve the resort. The fund also ensures that the monthly levy stays as low as possible and that annual increases in monthly levies are kept as low as possible. The Levy Stabilisation Fund should also avoid the need for special levies needed to carry out special maintenance or improvement projects.

 

 

  1. What deposit must I put down in order to secure an apartment?

 

You have two options when purchasing an apartment at Oasis off plan:

  1. 30% deposit with no guarantee required for the balance of the purchase price until 60 days before lodgement;
  2. 10%/20% deposit along with an irrevocable bank guarantee for the balance of the purchase price.

When purchasing a second-hand apartment, you pay a 10% deposit on signature and will  be asked by the conveyancing attorney to provide a guarantee for the balance of  the purchase price two weeks after signature.

 

  1. Do I earn interest on my deposit?

 

Yes, your money is deposited into the attorneys’ trust account in your name and you earn the interest on the money.

 

 

  1. What are the legal costs involved?

 

When buying off plan directly from the developer, you are not charged transfer duty. If you are buying a second-hand apartment you will pay 8% transfer duty. In both cases, you will be charged legal fees for the conveyancing process. A quote for these fees may be obtained from the conveyancing attorneys.

 

 

  1. Can I move in before taking transfer?

 

Yes. You will pay an occupational rental agreed upon between you and the seller until transfer takes place. You will pay monthly levies from the day you take occupation.

 

 

  1. After purchasing the apartment, can I rent to a tenant if I do not want to move in straight away?

 

Yes, we will endeavour to find a suitable tenant for you. Rentals we are currently achieving:

One-bedroom apartment: from R12 000 to R16 000

Two-bedroom apartment: from R17 000 to R23 000

Three-bedroom apartment: from R24 000 to R30 000

The owner of the apartment is responsible for paying the monthly levy and the City Council rates.

 

 

  1. What does my levy pay for?

 

A three-tiered security system and the upkeep of the magnificent Club and garden facilities are just two of the most important aspects of what the levy covers. For more information on this, please refer to the leaflet in your brochure.

 

 

  1. What does the Primary Health Care Levy cover?

 

You benefit from the services of a Primary Health Care Sister who is employed by the Care Centre solely to attend to the needs of Oasis apartment dwellers. 24-hour emergency medical assistance is available. Each Oasis resident is entitled to three free bed nights per annum at the Oasis Care Centre.

 

 

  1. Are there social activities to become involved in?

 

Yes – plenty! There are clubs for bridge, art, kalookie, mountain walking, bird-watching and poetry, to mention a few. You can also join the regular water aerobics classes. An entertainment committee organises outings to wine farms, the theatre and other places of interest. It is very easy to meet and make new friends. However, should you be more inclined to lead a more private lifestyle, nobody is going to cajole you to get involved.

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