USE YOUR PROPERTY TO SETTLE DEBT
How : Sell – Rent – Buy Using the Seller Buyback method.
The Sell and Buy Back – Process
Sell your property and use profits to settle debts
Rent the property back for 2 % of the purchase price, per month
Buy your property back within 24 months
Requirements for the sale of your property :
Types of property All types
Loan to Value ratio 50 % ( bond and debt to be less than 50 % of the property value )
Minimum Property Value No minimum
Maximum Property Value No maximum
Buy-Back price Plus 20 % per annum
Credit Profile All credit profiles welcome
Exclusions Certain locations (TBA)
Property Types Any
SELL AND RENT BACK TO PAY OFF DEBT
The Rental Agreement
You will pay 2 % per month ( of the purchase price) while you stay in the property
The rental agreement can be for 12 to 24 months
Rent escalation is 10 % in the 2nd year of the lease
You can buy the property back anytime within 24 months
USE YOUR HOME TO PAY LOANS
You have the option to purchase your property within 12 months:
The Buy Back price is the purchase price plus 20 % in the first 12 months and plus further 20 % after month and before 24 months:
Your Buyback option can be exercised at any time in the 24 months period.
Financial – Example
If you have a property worth R 1 million, access up to R500 000 ( 50 % of the property value ) through the sale of your property, with the option to buy it back within 24 months.
Property Value R 1 000 000
Less Debt :
Bond R 300 000
Credit Card R 100 000
Other Debt R 100 000
Total Debt – R 500 000 – R 500 000
Property Purchase Price R 500 000
Debt ( after transaction ) Nil
Rental +/- R10 000 p/month for 12 months and +/- R11 000 p/m for months 13 to 24.
Option Buy-Back price R 600 000 ( within 12 months or R720 000 – 12 to 24 months)
DEBT CONSOLIDATION WITH PROPERTY
Debt Settlement using property, is also known as the Buyback Sale, Sale and Leaseback, Sale and Rent, Sale and Rent Back and even Rent to Own. Essentially you settle debt using property equity.
We also facilitate Bond Consolidation, Loan Consolidation and Debt Consolidation Loans for Homeowners. This is when you consolidate your debt into your bond, with home equity loans South Africa.
If you are looking for homeowner debt relief, a mortgage debt settlement or homeowner equity loan look no further. We can assist to pay debt.
Essentially, we buy homes to settle your debt and then you stay in your home and buy your home back, within 24 months. This also applies to all other types of properties.
Can you assist if I have a bad credit profile
Yes. This is precisely who we can assist.
Can you assist if I have a good credit profile
Is there a minimum and maximum home / property value
What is the maximum debt amount
50 % of the value of your home / property
How long does it take
A few days to a few weeks
How much does it cost
See example on home page
Can I stay on in my home
Can I rent my home / property back after it is sold
Can I buy my home / property back
Yes, within 24 months
Is there any risk to me
No, as long as you abide by the Terms and Conditions of the Sale and Rental Agreement
What types of property can be used ?
What Documents Needed :
- Proof of address
- Latest municipal rates statement
- 3 months bank statements
- Latest bond statement
- Credit check authority
- Marital status confirmation
- List of all other debt over R10 000
- Proof of Income ( salary slips or business income)
Ideal Property Profile
Any type of property that has a bond of less than 40 % of the value of the property. Eg Property R 1 million Bond R 400 000.
USE PROPERTY EQUITY TO CONSOLIDATE DEBT
Use the Sale and buy back method.