Real rights means the right to build in a Sectional Title according to the rules of the Home Owner's Association within the period indicated by the date of registration of the certificate of Real Right in your name.
Standard Bank is the only Bank at the moment that does offer Real Rights.
It works as a building loan with draw downs as the work progresses with the land portion paid upfront to the Developers.
The intregity of the Developer is very inportant as he will guide you through the process from beginning to end.
Standard Bank will only cover 50% of the whole Complex and only in Blue chip areas with maximum of 25 units . Building cannot be done in phases and only Duplex or simplex units will be paid for. In double volume ownership units only bottom floor units will be paid for.
This is not an easy option so keep this in mind!
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