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Now is the time to buy, cash or bonded
Category Property News
BUYING a property with cash may carry many benefits, but not everyone has the resources to make a cash deal, says Chris Cilliers of Lew Geffen Sotheby's International Realty. That's why banks offer mortgage bonds. "The banks are hungry for business at present and there are great deals for qualified clients. If you are a strong buyer with a good credit record, and you can secure a property under market value, many banks will be happy to give 100% bonds." Some institutions will even help finance costs, so those looking to enter the property market may find banks are "currently very accommodating". Although many investors are still waiting and seeing due to the upcoming elections, Cilliers says South Africans will still need homes.
Author: Lew Geffen Sotheby's International Realty