In the case of full title even the purchaser will sign a contract for the purchase of the ERF with the Developer and this property will be transferred to the purchaser after completion of the internal services.
In most cases no transfer cost will be payable as ERF prices are below the minimum determined by law and only the transferring attorneys costs will be payable. Immediately after signing the Contract to purchase the ERF the purchaser will have to select a dwelling to be constructed on the property and sign a building contract, for the construction of the dwelling, with a Building Contractor nominated by the Developer. The Building prices will be adjusted using the Haylett Contract Price Adjustment formula standardly used in the Namibian Building Industry. In the case of sectional title units, transfer costs will be payable on the Contract Price and construction will commence when 80% of the apartments in a specific block have been sold. Transfer will take place as soon as the sectional title plan can be registered. All prices include commission