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How to find your own home to buy on instalment sale

Waiting too long to find your home to buy on instalment sale? Find out how you can now help yourself speed up the process.

We have 1000's of buyers eager to buy a home on instalment sale but unfortunately it can be a lengthy wait until we find a suitable seller in the buyer's preferred area who is willing to sell on instalments.

In addition Propsolve is a unique online property business and does not have a footprint of agents on the ground looking in your specific area.


However, do not give up!

You can help yourself by looking out for suitable properties and sellers in your area. If you identify a property that you are interested in purchasing on an instalment sale basis, here is a quick simple way for you to see if the seller may consider selling to you, and how we would take the process forward from there.

  • Step 1:
    • Ask the owner or seller if they would consider selling their property to you on monthly instalments. Explain this would mean not getting their cash upfront as in a normal sale but rather in monthly payments over a period of time. Explain that instalment sales have many great benefits to them including a quick sale, a fair market price, and full protection under SA law.
  • Step 2:
    • If they indicate that they may be interested or would like to find out more about this, then ask them to watch two simple video's on Propsolve's website that explain the great benefits of selling this way and exactly how the whole process works.

      They should go to www.propsolve.co.za/view and watch the videos. If after watching they would like Propsolve to make contact with them, they can leave their details on the webpage.

      At the same time you should notify Propsolve of the seller's details and your name at info@propsolve.co.za.
  • Step 3:
    • Propsolve will then make contact with the owner to answer any questions and see if an instalment sale would work for them.
  • Step 4:
    • If they decide to consider selling on instalment sale, we contact you, discuss your options and prepare an offer to purchase. The offer to purchase then gets submitted to the seller.
  • Step 5:
    • Hopefully the seller approves your offer, in which case our attorneys will draw up an instalment sale agreement that all parties sign, before you then become a proud Home Owner!

So what type of seller/ property should you look out for?

Types of owners who could find an instalment sale very beneficial are the following:

  1. Sellers whose homes have been on the market for a long time – they just cannot sell and are not getting their asking price,
  2. Owners who are in financial difficulty and struggling to pay their monthly bond payments – bank repossession may also be just around the corner,
  3. Retirees who want to use their home to generate a good return and stable income stream, and
  4. Landlords or property investors who are tired of managing tenants, poor returns, and dealing with the frustrations of property investing.

If you are interested in a property that is already on the market, it certainly makes things easier if it is being sold privately. You can then approach the owner directly.

However, if a property is only advertised by an estate agent, you would have to attempt to find out through the estate agent if the seller may consider an instalment sale. In these cases, as there would be another agent involved, the whole negotiation process would be more complex and the issue of commission for the other agent would also have to be factored in. Therefore we recommend you try and focus on private sellers.

So why not give this a try - you'll be amazed at the results. It's worked for many of our clients.

We look forward to hearing from you.

Propsolve

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