Having identified a home and agreed terms with Sulver, a letter of offer is issued to the prospective purchaser. Deposit payments are made at this point and an external team of lawyers take over the sale process - preparing and issuing requisite sale documentation.
Purchasers typically engage their own lawyers to represent their interest, separate from the project lawyers appointed by Sulver. Sale agreements are accompanied by subleases or sectional titles depending on the legal structure of the project.
On completion of the project various certificates are issued by the architect and the local authorities. This important milestone, in addition to completion of all relevant legal and financial processes by the purchaser, enables physical handover of their new home.
Ownership is formally transferred from the development company to purchasers and a management company is established to oversee the longer term development operational matters. More information about development management is available here.