HOW PROPERTY BRIDGING FINANCE CAN HELP RELEASE YOUR FUNDS EARLIER
In an all-too-common scenario for business owners in 2020, the sale of a home or a second property is necessary to keep business operations afloat or to take advantage of new opportunities by expanding resources or manufacturing capabilities.
Once you’ve sold your property and the transaction has been confirmed, it typically takes a few months for the sale to be registered in the deeds office and you’ll only receive the money due to you when the transfer occurs, but you need the funds now.
Read our blog on Why does the transfer of property process take so long in South Africa:
Link to Blog
If you are expecting your funds to arrive in the early days of 2023, you might have to wait quite a bit longer than you think.
With the Deeds offices closed over a part of the December holidays and only re-opening on the 3rd of January 2023 there will be a pile of registrations for them to work through.
The reality would be that you might have to wait an additional month or so for your money.
Read our blog on Deed Office Closing Arrangements for 2022/2023 for more clarity on this matter.
Link to Blog
Property bridging finance is an option that can be quickly and easily arranged as a short-term finance solution, allowing you to release an advanced portion of the sale to bridge the gap between your current cash shortfall and your future pay-out on registration of transfer.
Bridging finance takes the stress out of buying and selling by eliminating the waiting period on property transactions. The money is advanced almost immediately, and it is repaid when the transfer goes through. There is very little documentation, and the process is handled quickly.
If you are purchasing new business premises, bridging finance will also give you the ability to pay conveyancing and transfer fees, as well as settle municipal rates, taxes, and levies, thus speeding up the transfer process.
You can apply for property bridging finance once your property has been sold and the full purchase price is secured. You can then use the finance to cover any expenses you choose.
Experienced lenders such as QuickBridge can ensure a quick turnaround and tailor funding solutions that match your needs.
QuickBridge provides quick bridging finance for business and private individuals. Our short-term loans focus on property bridging transactions as well as other high-yielding financial opportunities.
The application process is extremely simple, giving you quick access to your funds, there are no hidden fees, and all are at affordable rates.
Apply today and receive your money, earlier!