Seller’s Proceeds Advance

The Seller’s Proceeds Advance provides a seller of a property with an upfront cash advance once the seller has successfully sold his/her property, but prior to the registration of transfer of the property into the buyer’s name.

Sw1ft is able to advance up to 70% of the total nett proceeds available to the seller after all and/or any bond costs, commissions and other fees have been deducted.

Example.

John sells his property to Michael.

Michael has secured the purchase price (with cash or bank funding, as the case may be).

John needs the proceeds of the sale urgently for, among other things, rates and taxes and/or to place a deposit on another property he wishes to buy.

John makes application to Sw1ft for bridging finance.

Sw1ft advances up to 70% of the nett proceeds due to John from the sale of his property after all deductions, bond costs and the like have been duly considered.

Let’s simplify it

Sw1ft and Easy

The seller does not have to wait the lengthy process until registration of transfer of the property before he/she gets the proceeds of the sale due.

Sw1ft works with the conveyancer mandated to process the registration of transfer of the property.

The Conveyancer undertakes to settle Sw1ft from the proceeds of the sale of the property due to the seller once registration of transfer of the property at the deeds office has occurred.

…and that’s the Sw1ft difference!

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011 728 4335