Sales Relief Program
In the current climate, you may find it increasingly challenging to repay your bond, and may need to consider selling your property.
Harcourts South Africa, in partnership with the four major banks, have put together a Sales Relief Program that can assist you in this difficult time.
When listing your property in the traditional method, the price of your property is based on all the obligations you need to meet, as well as the amount you need to clear. This would mean that you need to take into account for any rates and levy accounts that may be in arrears, agent commission and other fees that accompany the sales process. In this scenario, you may find that you are overpricing your property, and in the current climate, this will have a direct impact on the time your property remains unsold.
However, with the current Sales Relief Program, you will list your property directly with the bank, at market value, and they will also be able to assist you with your financial commitments. The bank will consider all your outstanding fees, and in the case of a shortfall, the bank may negotiate a discount on your outstanding balance, and arrange for a payment plan. Provided that you adhere to all the agreements put in place, you will now have the freedom to move on, without impacting your credit score, and you may even be able to apply for credit in the future.
Forming part of this program does not mean that you lose control over your property. You still have the right to accept or decline any offer from a prospective buyer.
