13 Nov Can I buy an RDP house that someone is selling using FLISP?

If you are planning to buy your first home with the FLISP government housing subsidy, it is natural to have questions. If one of the questions is “Can I buy an RDP house that someone is selling using FLISP?” then the answer is yes, you can. If the property and the transaction details meet the FLISP qualifying criteria, you can pursue the purchase using FLISP.

What is FLISP? FLISP (Finance Linked Individual Subsidy Program) is a government housing grant that assists South Africa’s GAP market in affording the purchase of their first property. So, do you want to buy an RDP house with FLISP? If this home is being sold by the owner, then you can buy it using FLISP (also known as First Home Finance).

What should be in place to buy an RDP property with FLISP?

• The title deed must be formally transferred to the seller. The seller can only sell their RPD home if they are the legal owner.
• There is a mandatory occupation period of 8 years for FLISP home owners. Legally, the house can only be sold after 8 years.
• A conveyancer must legally handle the property transfer process.
• Your home loan application needs to be linked to the FLISP subsidy through an approved lender.

Are you ready to claim government subsidy funds for your first house? First Step Housing can assist you with your FLISP application, making your journey to homeownership a fullfilling one. APPLY NOW