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Repossessed Property

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What Are Bank-Repossessed Properties?

Bank repossessed properties are the result of 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 phases are best explained by describing the repossession process:
A borrower defaults on their home loan to the extent that the only alternative for the Bank is to recover the debt via repossession
The Attorneys representing the Bank will apply for a judgment at the magistrate’s court
Assuming the mortgage in arrears is not recovered, the borrower’s movable assets will be auctioned
If the sales from the movable assets auction do not cover the mortgage in arrears, the property is auctioned: a ‘Sale in Execution’. Up until this point, the borrower may try to sell the property: a "Distressed Sale"
If the Bank’s reserve price is not met at the ‘Sale in Execution’, the Bank has the option to buy back the property - a ‘Property in Possession’
 
Why are Properties in Possession popular?
There is usually no transfer duty
Home loans for Properties in Possession are more easily approved by Banks
Properties in Possession are perceived to be good value for money
These properties have often been neglected and therefore present a good opportunity to renovate and resell
 
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Showing : 1 - 20 of 24
excellent fixer upper project!! mainhouse has 3 bedr,2 bathr,2 garages,domestic room 2 ...
  • REPOSSESSED
R 2 800 000 3 Bedroom House Bedfordview 5 Hill Terrace excellent fixer upper project!! mainhouse has 3 bedr,2 bathr,2 garages,domestic room 2 ... 3 2 2 Erf Size 400 m²
Insolvent 3 Bedroom Townhouse for sale in ERASMUS, BRONKHORSTPRUIT, GAUTENG. - This ...
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R 1 200 000 3 Bedroom Townhouse Bronkhorstspruit Central 32 Joubert Street Insolvent 3 Bedroom Townhouse for sale in ERASMUS, BRONKHORSTPRUIT, GAUTENG. - This ... 3 2 1
Ikhaya lakho elisha likulindile eWindmill Park ext40. Ungaphuthelwa, isigaba sokugcina sidayisa ngokushesha. I-Windmill Park ...
  • NO TRANSFER DUTY
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R 968 000 3 Bedroom House Windmill Park Ikhaya lakho elisha likulindile eWindmill Park ext40. Ungaphuthelwa, isigaba sokugcina sidayisa ngokushesha. I-Windmill Park ... 3 2 3 Erf Size 265 m²
A delightful ground-level residence showcasing a partially open kitchen layout. This property is conveniently positioned near ...
  • REPOSSESSED
Harcourts Evolve R 580 000 2 Bedroom Apartment Clarina A delightful ground-level residence showcasing a partially open kitchen layout. This property is conveniently positioned near ... 2 2 1 Floor Size 58 m²
This charming 3-bedroom, 2-bathroom property nestled on a spacious 586 sqm stand is the epitome of comfort and convenience. Step ...
  • REPOSSESSED
RealNet Pretoria North West R 1 300 000 3 Bedroom House Hesteapark This charming 3-bedroom, 2-bathroom property nestled on a spacious 586 sqm stand is the epitome of comfort and convenience. Step ... 3 2 3 Erf Size 586 m²
new in the market. Stand is 1000 sqm house is 250 sqm property has 3 bedroom ,2 ...
  • REPOSSESSED
R 1 050 000 3 Bedroom House Culemborg Park 14 Van Der El St new in the market. Stand is 1000 sqm house is 250 sqm property has 3 bedroom ,2 ... 3 2 4
Listed by 4 Estate Agencies
 
PROPERTY SUMMARY: 4-bedroom, Lounge, TV/Family room, Dining, Kitchen with scullery ...
  • REDUCED
  • REPOSSESSED
R 2 600 000 4 Bedroom House Northcliff 20 Mark Avenue PROPERTY SUMMARY: 4-bedroom, Lounge, TV/Family room, Dining, Kitchen with scullery ... 4 2.5 4 Erf Size 544 m²
Insolvent 2 Bedroom Apartment for sale in SS Fonteinhoek, SILVERTON, PRETORIA ...
  • REPOSSESSED
R 400 000 2 Bedroom Apartment Silverton 533 Jasmyn Avenue Insolvent 2 Bedroom Apartment for sale in SS Fonteinhoek, SILVERTON, PRETORIA ... 2 1 1 Floor Size 70 m²
Situated in VENTURA ESTATE. Excellent finishing,situated on 4th floor complex has ...
  • REPOSSESSED
R 1 200 000 2 Bedroom Apartment Cedar Lakes 9 Cedar West Avenue Situated in VENTURA ESTATE. Excellent finishing,situated on 4th floor complex has ... 2 2 2
Get ready to live your best life in this vibrant two-bedroom, one-bathroom apartment ...
  • UNDER OFFER
  • NO TRANSFER DUTY
  • REPOSSESSED
Harcourts Rhino R 445 000 2 Bedroom Apartment Fleurhof 117 Fleurhof Dale, 23 Fever Tree Street Get ready to live your best life in this vibrant two-bedroom, one-bathroom apartment ... 2 1 1 Floor Size 38 m²
Property has 2 bedroom,1 bathroom,1 carport secure upmarket complex with clubhouse ...
  • REPOSSESSED
R 1 160 000 2 Bedroom Apartment Maroeladal 33 Inchanga Road Property has 2 bedroom,1 bathroom,1 carport secure upmarket complex with clubhouse ... 2 1 1
Listed by 2 Estate Agencies
 
Insolvent 4 Bedroom House for sale in Faerie Glen Ext 1. - This property is on a HUGE 1411 SQM stand. - The property is in a GOOD ...
  • REPOSSESSED
R 2 200 000 4 Bedroom House Faerie Glen Insolvent 4 Bedroom House for sale in Faerie Glen Ext 1. - This property is on a HUGE 1411 SQM stand. - The property is in a GOOD ... 4 2 2 Erf Size 1 411 m²
Insolvent 1,5 Bedroom Apartment for sale in SS Jakarandahof, PRETORIA NORTH. - This ...
  • REPOSSESSED
R 290 000 1 Bedroom Apartment Pretoria North 204 Burger Street Insolvent 1,5 Bedroom Apartment for sale in SS Jakarandahof, PRETORIA NORTH. - This ... 1 1 1
Get ready to live your best life in this vibrant two-bedroom, one-bathroom apartment ...
  • UNDER OFFER
  • NO TRANSFER DUTY
  • REPOSSESSED
Harcourts Rhino R 445 000 2 Bedroom Apartment Fleurhof 117 Fleurhof Dale, 23 Fever Tree Street Get ready to live your best life in this vibrant two-bedroom, one-bathroom apartment ... 2 1 1 Floor Size 38 m²
Fixer upper family home.3 bedrooms,1 1/2 bathrooms,2 garages Large stand Come make a ...
  • REPOSSESSED
R 1 200 000 3 Bedroom House Roodebult 23 Tafelboom Street Fixer upper family home.3 bedrooms,1 1/2 bathrooms,2 garages Large stand Come make a ... 3 2 2 Erf Size 1 339 m²
Luxurious 3-Bedroom, 3-Bathroom Unit with Modern Kitchen - Prime Location! Welcome to Waterkloof on Main, where luxury meets ...
  • REDUCED
  • REPOSSESSED
Harcourts Capital R 2 700 000 3 Bedroom Apartment Brooklyn Luxurious 3-Bedroom, 3-Bathroom Unit with Modern Kitchen - Prime Location! Welcome to Waterkloof on Main, where luxury meets ... 3 3 2 Floor Size 101 m²
Insolvent 2 Bedroom Apartment for sale in SS THORHILL ESTATE, OLYMPUS AH, PRETORIA ...
  • REPOSSESSED
R 680 000 2 Bedroom Apartment Boardwalk 22 Thornhill Street Insolvent 2 Bedroom Apartment for sale in SS THORHILL ESTATE, OLYMPUS AH, PRETORIA ... 2 2 2 Floor Size 82 m²
Listed by 3 Estate Agencies
 
Insolvent 4 Bedroom house for sale in DALPARK, BRAKPAN, GAUTENG. - This property is on ...
  • REPOSSESSED
R 1 200 000 4 Bedroom House Dalpark Proper 7 Magnolia Street Insolvent 4 Bedroom house for sale in DALPARK, BRAKPAN, GAUTENG. - This property is on ... 4 2 2 Erf Size 992 m²
Insolvent, VACANT residential stand for sale in BASSONIA, JOHANNESBURG SOUTH - This ...
  • REPOSSESSED
R 950 000 Vacant Land Bassonia 62 Basroyd Drive Insolvent, VACANT residential stand for sale in BASSONIA, JOHANNESBURG SOUTH - This ... Erf Size 1 832 m²
Insolvent 5 Bedroom Mansion for sale in HURLINGHAM, SANDTON. This magnificent 601 SQM ...
  • REPOSSESSED
R 9 000 000 5 Bedroom House Hurlingham 7 Montrose Road Insolvent 5 Bedroom Mansion for sale in HURLINGHAM, SANDTON. This magnificent 601 SQM ... 5 4 Erf Size 2 075 m²
Well maintained property,origional yellow wood floors,oregon pine doors,steel ...
  • REPOSSESSED
R 1 850 000 3 Bedroom House Westdene 8 Winchester Street Well maintained property,origional yellow wood floors,oregon pine doors,steel ... 3 2 4 Erf Size 700 m²
Milano Security Estate    Development in Sky City
From
R 991 300
To
R 1 273 450
540 Houses
View All Developments in these areas
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