Pre-Qualification Info

PRE-QUALIFICATION AS PURCHASER

• Most potential purchasers will only qualify for a 70% bond from the bank.
• This means a commercial purchaser must have a minimum of 30% cash available.
• Vat might need to be paid over and above the purchase price if there are no tenants.
• If purchasing a property in an entity it is advisable to obtain a vat number from SARS.
• Please remember if purchasing using an entity that financials must be audited and up to date.
• An entity must also have up to date management accounts.
• AVAT number from SARS will take a minimum of 6 months.
• All FICA documentation must be available.

PRE-QUALIFICATION AS TENANT

• Minimum of two months deposit and first month rental to be paid on signature.
• Generally a minimum period of Two year lease preferably Three years.
• Escalation generally 9% to 10% per annum.
• Copy of ID available for person signing Lease.
• Resolution letter giving person signing permission to sign on behalf of the entity if the entity is the tenant.
• All FICA documentation must be available.