Selling property is exciting but let’s be honest, it can also create cashflow problems. Before receiving your proceeds from the sale of your property, a Seller is liable to pay upfront rates and taxes to obtain a rates clearance certificate, moving costs will have to be considered and repairs that you have agreed to attend to, prior to registration of the sale.
The good news there are solutions.
Bridging finance is short-term funding provided by a Registered Financial Institution to help cover the above costs.
These companies advance the funds to the transferring attorneys you require upfront, and you only repay the amount upon receipt of the proceeds from your property’s sale.
Bridging finance is designed specifically for property transactions and is commonly used by sellers who have equity in their property but are temporarily cash-strapped.
As with any financial product, it’s important to understand the terms, fees, and repayment structure before proceeding.
While we don’t provide bridging finance ourselves, we work with reputable bridging finance companies and can guide you through the process.
Sometimes a little bridge is all you need to get to the finish line.
