FINANCIAL REQUIREMENTS IN ORDER TO PURCHASE THIS PROPERTY:
To finance the amount of R 1 8000 000 your bond repayment will be +/- R 16 450 per month and to qualify for the loan you will need to show a (joint/ individual) gross income of no less than R 54 500 per month.
Transfer costs will be +/- R 103 000.00, you will need to have this money available in cash as the banks will not finance this amount with the home loan. The transfer costs in include attorney’s fees, bond registration costs and the transfer duty paid to SARS. If you have 5% - 10% deposit it will make the financing process a lot easier. We also strongly advise that you speak to your banker first to discuss your borrowing capacity.
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