Not Sure If the Cost Qualifies?
Every property transaction is different. If a seller requires funding for a cost linked to the transfer, the conveyancing attorney can provide the transaction details to BridgeFin for consideration.
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Access Transaction-Linked Funding Before Property Transfer Is Complete
Selling a property does not always mean that funds are immediately available. Before registration can take place, a seller may still need to deal with certain costs or compliance requirements even though the proceeds of the sale will only become available once the transfer process reaches completion.
BridgeFin Seller Bridging provides short-term funding for qualifying expenses connected to a pending property transaction. The application is facilitated through the conveyancing attorney handling the transfer, allowing the finance request to be considered in the context of the actual sale, supporting documentation and expected transaction proceeds.
Approved funding may be used for specific transaction-related requirements such as municipal clearance costs, electrical compliance certificates, gas compliance certificates, electric-fence certificates and other approved expenses necessary to progress the transfer. Every application remains subject to BridgeFin’s assessment and the terms of the applicable agreement.
What Seller Bridging Can Help Cover
Seller Bridging is intended for qualifying costs that arise during the transfer process but need to be dealt with before the seller receives the proceeds of the sale. The exact funding requirement is assessed in the context of the property transaction and supporting information supplied by the conveyancing attorney.
- Municipal clearance-related costs
- Property compliance certificates
- Other approved transfer-related expenses
Frequently Asked Questions
Who can use BridgeFin Seller Bridging?
Seller Bridging is intended for qualifying sellers involved in a property transaction where approved costs need to be dealt with before the proceeds of the sale become available. The application is facilitated through the conveyancing attorney handling the transfer.
What costs can Seller Bridging be used for?
Depending on the transaction, funding may be considered for approved municipal clearance requirements, electrical compliance certificates, gas compliance certificates, electric-fence certificates and other qualifying expenses directly connected to the property transfer.
Does the seller apply directly to BridgeFin?
BridgeFin’s Seller Bridging process is attorney-facilitated. The conveyancing practice handling the property transfer provides the relevant matter, client and transaction information required for BridgeFin to assess the application.
When is Seller Bridging repaid?
Seller Bridging is linked to the underlying property transaction. Repayment is dealt with in accordance with the approved agreement and the settlement of the relevant transaction. The exact repayment terms are confirmed as part of the application and approval process.
Applications and funding remain subject to BridgeFin’s assessment and applicable terms.
