Friday 18th of June 2021

Seller Advances

COD BRIDGING FINANCE provides SELLERS of residential and commercial properties with up front access to 80% of the surplus sale proceeds that they would otherwise only be available to them on transfer of their properties. This finance may be used to fund costs related to the sale (for example pay the outstanding rates and levies), fund the acquisition of another property or for any purpose whatsoever.

What COD BRIDGING FINANCE typically requires to assess such an application:

  • Copy of the sale agreement / offer to purchase
  • Proof of finance i.e. bond instruction and/or guarantees and/or proof of funds in Trust
  • Bond cancelation figures, if applicable;
  • Rates statement
  • Home owners/levy statement, if applicable

COD BRIDGING FINANCE will pay out when:

  • The client has signed COD BRIDGING FINANCE’s Master Discounting Agreement
  • All material conditions in the sale agreement have been fulfilled
  • 100% of the purchase price has been secured
  • On receipt of a Letter or Undertaking or bank guarantee from the transferring attorneys
  • COD BRIDGING FINANCE’s Credit team has approved the application