This solution is suitable where a property has been sold, and money is due upon registration (typically 60 to 90 days from the date the sale agreement is signed).
Minimum Requirements
Eligible clients: Juristic person (company or trust) with an annual turnover or asset value of more than R1 000 000 (as defined in the National Credit Act).
Facility: Minimum R50 000.
Loan to value: Maximum 75% of nett proceeds receivable.
Our security: Irrevocable undertaking from the seller’s transferring attorney. The purchase price must be secured, and all suspensive conditions of sale must be met.
Documentation: Completed application form (completed by seller’s transferring attorney and signed by the client) .