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

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

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 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 599 000
2 beds 1 bath House for sale by Ingwe Property Group

Cosy two bedroom family home situated in the heart of Shallcross. Offers a seperate lounge and dining room, a fully fitted kitchen, fully fenced with an automated front gate. A sin...

R 395 000
3 beds 2 baths House for sale by Ingwe Property Group - Umhlanga

URGENT SALE!!!! This property is well located near the Mandini Plaza. The property is an ideal family home with lots off space for improvements, has two levels, downstairs has 2 bedr...

R 500 000
3 beds 2 baths House for sale by GoldProp - Bloemfontein

Modern home in Heidelberg. All this for only R 500 000 ! Come view your new home NOW !

R 880 000
5 beds 3 baths House for sale by RE/MAX 2000

This house is in the process of being renovated

R 1 600 000
3 beds 2 baths House for sale by Multi Properties

All offers from R550 000 will be presented. Hurry for this one!

R 775 000
3 beds 2 baths House for sale by Properties On Line

Bank owned house close to shopping centre and easy access to highway. Spacious living areas with pressed ceilings. Three bedrooms and two beautiful bathrooms. Nice kitchen. Flat with...

R 475 000
2 beds 2 baths House for sale by Properties On Line

Bank owned house with Victorian charm. Two bedrooms with lots of built-in cupboards and beautiful pressed ceilings. Two bathrooms, second bathroom need to be renovated. Lounge, dinin...

R 775 000
4 beds 3 baths House for sale by Terravita Properties

Family home! This is the perfect family home with 4 bedrooms and 3 bathrooms situated in Vanderbijpark SW1, Gauteng. All bedrooms are spacious with built in cupboards and carpets...


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