There’s a better way – Rodel It!

You’ve already had your eye on your dream home, and even though it’s pricier than what you had hoped to find, it’s everything you’ve wanted: a dream kitchen, a granny flat you can use for your aging mom and dad, and an outside entertainment area leading out to a big garden!
But there’s a problem.
There’s someone else that’s convinced it’s also their dream home.
The only option is to put down a deposit to secure the property. Seems simple enough, but the Deeds Office is backlogged in property transfers and that generally means a three month waiting period before you’ll receive your funds from the bank. Similarly, you may have just been awarded a new, further or switch bond and have to wait six weeks for registration. So what now?
Enter bridging finance.
With an advance on the sale proceeds from your property (up to 80%), you’ll be able to pay the deposit on your home or use the money however you want. This may be to pay home purchase costs like transfer duties and conveyancing fees which need to be paid before the bond can be registered. It could also be used to negotiate the price down with the lure of a cash deposit – cash is king right – or pay outstanding rates and taxes or levies that need to be settled before taking transfer on your new home. The same advance of funds can also be accessed on approved new, further and switch bonds.
So what’s the catch?
For many it’s a win-win short-term finance option. The funds are paid back when the property is sold, the borrower’s creditworthiness improves, there’s relatively little documentation and hassles associated with traditional forms of lending, and having access to cash means you can negotiate better deals.
Since inception 14 years ago, Rodel is firmly entrenched as a specialist bridging finance company and market leader, boasting longstanding relationships with SA’s largest bond originators, legal firms, banks and estate agencies. The Rodel family of specialist consultants operate nationally across South Africa, have strong legal and banking backgrounds and are trained to offer the fastest turnaround time for a quick, clean and professional customer experience.
The bottom line
Funds are often paid out on the same day of application and Rodel’s standard discounting fee is 0.150% per day. This amounts to R1.50 per R1,000 per day. Rodel does not charge any administrative or penalty fees, but a minimum fee equal to the higher of R250 or 15 days’ fees will apply on all transactions, excluding agents commission discounting.
Andrew Church, Rodel’s Managing Director since inception, invites consumers to consider their specialist services for bridging finance and simply “Rodel it!”
• To pay transfer duty on a new property
• For owners pending registration of a new bond
• For estate agents needing commission on their sale
• Rates /taxes and levies on a property being sold
• Deposit on a new property
• Repayment of personal debt, working capital or any other personal reason.

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