When purchasing a residential property or stand, the Buyer is required to pay the Seller an amount that has been mutually agreed in the Deed of Sale documentation.

The Buyer may elect to pay the full amount in cash or partly as a cash component as well as a Mortgage Bond.

This sometimes requires that the buyer needs to apply for property finance.

The Property Buyer would be required to pay by an agreed date, the stated cash amount into a Trust Account from the appointed Conveyancing / Transfer attorney's office. Property Finance is very handy when cash amounts have to be paid, which is most of the time.

The outstanding amount between the agreed transaction price and the cash deposit paid needs to be covered by a Bond. A separate Bond Application is required, assisted by a Registered Financial Services Provider, who will submit the Bond Application to the various Financial Institutions, where the best Terms and Conditions as well as the most favourable interest rates will be negotiated on behalf of the Buyer.

The Buyer also needs to cover the fees applied by the Conveyancing / Transfer attorney for services rendered as well as the pre-defined Transfer Costs as well as Bond Registration costs. Some Property Finance Institutions will allow the various additional costs applicable to the property transaction to be financed as part of the Bond.

Our appointed Legal and Financial Services Providers will assist you with the various components applicable to your property transaction.