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Flats For Sale In Bryanston

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Payment Methods For Flats For Sale In Bryanston

There are different methods of payments concerning the buyer when it comes to flats for sale in Bryanston. The potential purchaser could offer you cash which will mean that the buyer has enough funds available to pay the full purchase price including transfer, admin and other related costs. In this case the buyer does not need a home loan which makes this the ideal purchaser for your flats for sale. Make sure to find out how the money is invested for example in fixed deposits and how much notice is needed to release the money.

The second method of payment is a part cash part mortgage bond transaction. This is the most common method of payment. The purchaser will have a certain amount of cash available and will need to qualify for a home loan to make up the difference regarding flats for sale in Bryanston. Commonly, the cash will be used to pay the deposit and some or all the extraneous costs, and the home loan is used for the balance for the flats for sale.

The last method of payment when purchasing flats for sale in Bryanston is a hundred percent mortgage bond transaction. In this case the potential purchaser has no cash, and is wholly dependent on a home loan to pay for the flats for sale. The financial institution will generally loan up to ninety percent of the valuation or the purchase price of the property, whichever is the lesser amount. Take into consideration that each institution has its own requirements for the granting of hundred per cent bonds. Some require security, while others will grant the additional amount based on the applicants income, stability and financial history. If the potential buyer does not qualify in terms of his income earning capacity, he may provide someone to stand surety for his loan for flats for sale.

For more information on the types of payment methods that are commonly used for flats for sale in Bryanston please contact us.



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