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Repossessed Property

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What are Bank-Repossessed Properties?

Bank Repossessed properties arise from borrowers defaulting on their home loan repayments to the extent that the home loan has to be terminated.

There are 3 different phases during which buyers are able to purchase these properties: ‘Distressed Sales’, ‘Sale in Execution’ and ‘Properties in Possession’

These different phases may be best explained by describing the repossession process:

  • borrower defaults on their home loan to the extent that the only alternative for the bank is to recover the debt via repossession;

  • The bank's attorneys will apply for a judgement at the magistrates court;

  • Assuming the mortgage in arrears is not recovered, the borrower’s movable assets assets will then be auctioned;

  • If the sales from the movable assets will be auction still do not cover the mortgage in arrears, then the property is auctioned - a ‘Sale in Execution’. Up to this point the owner may however try to sell the property - the so-called "Distressed Sale";

  • Should the bank’s reserve price not be met at the ‘Sale in Execution’, the bank has the option to buy back the property itself - a ‘Property in Possession’.

Why are Properties in Possession popular?

  • There is usually no transfer duty;

  • Home loans are more easily approved by banks;

  • Properties are perceived to be good value for money;

  • Properties have often been neglected and therefore present a good to renovate and resell.

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R 450 000
3 beds 2 baths House for sale by GoldProp - Bloemfontein

Needs a bit of TLC. Come view NOW ! ! !

R 1 800 000
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3 beds 2.5 baths House for sale by Property Private

This triple storey cluster-style home offers 3 bedrooms, 2 bathrooms (en suite) and 3 living areas with a guest toilet. Open-plan kitchen (with scullery) / lounge / dining room leadi...

R 250 000
1 bed 1 bath Apartment / Flat for sale by Real Estate Brokers

Situated at the corner of Bayer Naude Drive and Princesses Avenue, this property is ideally located and very popular for rentals being only 5 minutes from Cresta Mall. This 1st floo...

R 6 000 000
5 beds 4 baths House for sale by GoldProp - Hartbeespoort

This unique property offers a cellar, spa, sauna, laundry room and much more. Discount on transfer fees. Please contact us for more information on this property.

R 1 050 000
3 beds 2 baths Apartment / Flat for sale by Properties On Line

Bank owned flat in modern complex at reduced price. Three bedrooms and two bathroom ( main bathroom has shower & bath) Beautiful dark wood kitchen with Ceasar stone tops. Spacious lo...

R 460 000
2 beds 1 bath Apartment / Flat for sale by Properties On Line

Bank owned flat next to Florida lake at low price. Spacious flat with closed balcony in neat well managed complex. Two bedrooms and one bathroom. Lounge, dining room and kitchen. Saf...

R 2 400 000
6 beds 4 baths House for sale by Yellow Brick Properties - Pretoria

6 bed, 4 bath, 4 living, study, kitchen, scullery, 2 storerooms, 3 garages, servant quarters, swimming pool, lapa.

R 1 150 000
3 beds 2 baths House for sale by Yellow Brick Properties - Pretoria

This house is a must see! Perfect for the entertainer - entertaining area consists of a Lapa, Swimming pool, splash pool and built-in braai area. Spacious 3 bedroom house plus 1 bedr...

R 1 680 000
3 beds 2 baths House for sale by Yellow Brick Properties - Pretoria

3 bed, 3 bath, study, 4 living areas, kitchen, washing room, pool, servants quarters, 2 garages

R 245 000
Vacant Land / Plot for sale by Infoprop Real Estate

HUGELY DISCOUNTED This 838 square meter stand is located in Island View in Mosselbay (Western Cape). Stands adjacent to this one sell for R470 000 each. Beautiful mountain views and ...

R 335 000
2 beds 1 bath Apartment / Flat for sale by Properties On Line

Bank owned corner unit at reduced price. Two bedrooms and one bathroom. Spacious lounge and kitchen. View and make an offer Today!

R 1 950 000
8 beds 5 baths House for sale by Properties On Line

Bank owned spacious family home with separate flat at reduced price. Main house has six bedrooms plus three bathrooms. Two study areas. Big kitchen with separate scullery. Lounge wit...

R 1 050 000
3 beds 2 baths House for sale by Infoprop Real Estate

Bank repo This family home is in need of work to turn it into the gem it can be. It is ideal for a DIY'er or a speculator. Views of the Knysna Heads and Knysna Lagoon makes this the...

R 3 200 000
5 beds 5 baths House for sale by GoldProp - Bloemfontein

All this for so little ! You can't afford to let this one pass you by ! Come view NOW ! ! !

R 1 095 000
4 beds 3 baths House for sale by Yellow Brick Properties - Pretoria

Put your personal touches here. Lovely pool and spacious enclosed garden. beautiful house a must to see beautiful house very secure close to schools and shopping centrums a must to ...

R 735 000
2 beds 2 baths Apartment / Flat for sale by Infoprop Real Estate

Main bedroom with on-suite bathroom(Bath and shower) Second bathroom with bath This security complex is situated 250 meters from the beach and has 2 Bedrooms, both with beautiful oce...

R 2 400 000
6 beds 6 baths House for sale by Properties On Line

Bank owned house ideal as guest house close to Tygervalley shopping centre. Six spacious bedrooms and six bathrooms. Three bedrooms en-suite. Lounge, TV room, entertainment room with...

R 920 000
2 beds 1 bath House for sale by Properties On Line

This Property which used to be a restaurant and hair salon is situated in South End in the Strand. Adjacent to the huge commercial space, is living quarters where the owners used to ...

R 860 000
2 beds 1 bath Apartment / Flat for sale by Darryn Brick Properties

Darryn Brick presents a lovely 2 bedroom Apartment on the 1st floor with Mountain views and with a 365 day Holiday Feel! ?This Apartment includes an open plan kitchen overlooking the...

R 130 000
Vacant Land / Plot for sale by Properties On Line

Enjoy gracious country living with security on an 18 hole golf estate with easy and quick access to Cape Town. A mere 40 minutes drive and you are in the bustle of the Cape Metropole...


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