Can a property transfer proceed even if there is a shortfall on the transaction?
The financial consequences of COVID-19 have had a severe impact on all of SA. Many employees were retrenched, temporarily laid off or received reduced salaries causing financial strain and being unable to maintain their monthly bond installments.
Many home owners might find themselves in the position that they are obliged to sell their properties due to financial difficulties, but are struggling to sell it at a purchase price sufficient to cover all expenses on the property.
We at Burden Swart & Botha inc have the knowledge, experience and expertise to manage these difficult transactions in order for the transfer to proceed even if there is a shortfall on the transaction.