Available Solutions
Understanding Costs and
Solutions in Property Transfer.
Bridging funding acts as a temporary advance to cover upfront costs associated with property transfer, such as rates, taxes, levies, and certificates of compliance. Rates and taxes, as well as levies, often require up to six months’ payment in advance, significantly increasing funding burdens for property owners.
Here are the solutions we provide bridging funding for:
- These are government-imposed fees associated with the property, such as property taxes, transfer duties, and municipal rates.
- Bridging funding can cover these upfront costs, allowing the transaction to proceed smoothly and not delaying the issuing of the rates clearance certificate from the local municipal council.
- These are fees charged by a property owner's association or body corporate for the maintenance and upkeep of common areas in a complex or development.
- Bridging funding can also cover these levies, ensuring all funding obligations are met for a successful transfer.
- These are documents issued by local authorities (e.g., electrical, plumbing) that confirm the property meets safety and building regulations.
- Obtaining them can sometimes delay the transfer process. Bridging funding can help bridge the gap by covering the cost of obtaining these certificates beforehand.
- Realtors often experience delayed commission payouts due to the lengthy registration and transfer process.
- Bridging funding allows realtors to access their commission upfront, enabling them to reinvest in their business and maintain funding stability.