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.
