What is the Quick Sell Plan?
South Africans are feeling financially stressed with no one to turn to for help. FNB Home Loans understands this and therefore is now offering our customers a tangible solution aimed at assisting them in their time of need. The FNB Quick Sell Plan (QSP) is designed specifically to assist customers in these tough times.
What are the benefits of Quick Sell?
- FNB offers buyers up to 100% bonds on all Quick Sell Properties;
- Buyers receive a 50% discount off both transfer costs and registration fees (provided both transfer and registration is handled by the FNB appointed attorney), this does not include transfer duty;
- Serious qualified buyers are attracted to the sale of the customer’s property through FNB nominated estate agents;
- The agent’s commission will be covered by FNB Home Loans which is part of the discount offering, in other words you still pays the commission from the proceeds of the sale however the Quick Sell discount which is applied in the event of a shortfall will offset the commission paid;
- FNB Home Loans and its nominated estate agents will invest time, energy and money in their sale efforts to ensure that the customer gets the best possible price for their property;
- Property rates and taxes (including all arrear amounts in this regard) will be paid by the seller (in this case it is not FNB until date of registration);
- All Quick Sell Properties are marketed via a sole mandate through an estate agent as appointed by FNB;
- An attractive discount of up to 25% of the current outstanding loan balance, could be applied when there is a shortfall after the sale of the property. Discounts are not guaranteed but negotiated on an individual basis. The sooner the Quick Sell Plan is accepted by you once your account goes into arrears, the more likely you will be granted a higher discount not exceeding 25%;
- Any shortfall is repayable over a period of up to 10 years interest free;
- You as the seller stay in control of the sale of the property, meaning a minimum reserve price will be agreed upfront;
- The process is transparent and easy to understand, which minimises delays and the prospect of a prolonged deal.