If the proceeds of the sale will be sufficient (after amounts such as the outstanding balance of your existing bond and agents commission have been deducted), we can arrange bridging finance for you. The bridging finance can then be used to pay the municipal clearance figures.
The bridging finance will, however, only be approved once
- the transfer documents, as well as bond documents, have been signed,
- the purchase price has been guaranteed (with a bank guarantee or payment into our trust account),
- the transfer costs have been paid and
- all other requirements for the lodging of the transfer at the deeds office have been met.
After registration of the transfer of the property, the proceeds of your sale will be used to pay back the bridging finance loan amount together with interest charged thereon.
You are therefore welcome to contact us should you require such bridging finance so that we can make the necessary arrangements.