Frequently ask questions
Update - 29 September 2023
- What is the purpose of the Reservation Agreement?
The Reservation Agreement gives the client the opportunity to reserve a specifically
demarcated portion (with coordinates), at a much-reduced cost, on a to-be-developed land.
This provides the opportunity to clients to obtain and select a portion on a town plan before
services are constructed at a cost much less than when the residential area was serviced. The
Reservation Agreement will be replaced by a Deed of Sale once the deeds register is opened
and the client has conformed to the conditions of the Reservation Agreement.
- Kindly give an indication of the estimated transfer costs I can expect once my portion is
settled.
Presently the transfer costs and duties payable vary according to the sales value of the
property. For a natural person, these costs are in the region of N$ 7300.00 on a sales value of
N$50000.00. This will only become payable once the title register is opened and the
reservation amount was settled in full. For this purpose, the Reservation Agreement will at
that stage be replaced by a Sale Agreement or a Deed of Sale Agreement to reflect the value
of the purchase.
- What is the ‘Homeowners Association’ about that is referred to in the Reservation
Agreement?
At this stage there is still no Home-owners Association (HOA) at Nevdale. This clause was
brought in to make you aware that in the case that for what-ever reason Homeowners
Association bodies were to be established, that the rules which the trustees of such bodies
could establish, be followed for the good order, safety, and proper administration in favor of
the residents of that HOA.
- Please provide some information on what the expected property rates could be or where I
can find information regarding this?
Property rates is a common arrangement where property titles are held by the owner of the
property. It varies from local authority to local authority and from area to area, but Property
rates are calculated based on the municipal value of your property, the more the value the
higher the charge. The rates vary from 1.0% to 5% of the value of the property per annum
but paid monthly. Eg. If the property value is N$50000, then the property rates to the
authorities could roughly be about N$3000 - 4000 per year or N$250 - 333 per month. The
proceeds of these are used by local councils to continue to administer and provide the
services to your property such as electricity supply, water supply, sewerage, maintenance of
roads and infrastructure, refuse removal, etc. More variations of the different rates can
be found on the internet.
In conclusion:
1. The FAQ’s will be placed only on the Bakersville WhatsApp Group meant for its clients and
we will do a regular update on new relevant questions.
2. General updates with respect to progress with Bakersville as a whole will be on the website
and Facebook page.