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Properties for sale

Often referred to as distressed property, these become available when clients are unfortunately unable to meet their repayment commitments and homes must be sold at below their market value.


Our aim is to assist our clients with marketing their property to achieve the best possible sale price for the property.


These can represent a good investment for buyers if careful homework is done.
 

We strive to place as many South Africans into their own homes and we take great pleasure and pride in offering home loans to clients throughout South Africa. 


As much as we exist to find homes for the ordinary South African, there are, however, a small percentage of clients who find themselves unable to honour their repayment obligations due to various factors. We try in many possible ways to find solutions that can allow them to retain their homes. Unfortunately, in some cases, financial circumstances do not allow clients to continue to meet their repayments. These properties may be foreclosed on for SA Home Loans to recoup the outstanding balance on the home loan. 
 

Five types of distressed property sales

  • 1. Sale in Execution

    This is a public auction of a bonded property by the Sheriff of the Court. A sale in execution is usually the last step that is taken when clients are unable to honour their home loan repayments - the home loan is in arrears and all other efforts at rehabilitating the loan have failed.

  • 2. Property in Possession (PIP)/ Repossessed Property:

    This happens once the borrower has defaulted, and SA Home Loans purchases the property at the Sale in Execution because the reserve price was not achieved. 

    Benefits of buying a repossessed property:

    1. No Transfer Duty (VAT is included in the purchase price) 
    2. Rates and Taxes are paid by SA Home Loans until the date of registration
    3. The transfer is often much faster
    4. In many instances repossessed properties may require repairs. This can create an excellent opportunity for an investor to upgrade the property for a profitable resale
  • 3. Insolvent Estate properties

    This happens when a client, company or CC is declared insolvent or sequestrated by the High Court. A trustee or liquidator is appointed by the Master of the High Court to manage the estate, including disposal of property

  • 4. Deceased Estate properties

    This happens in the unfortunate passing of a client. One of the options available to the beneficiaries of the estate is to sell the bonded property. Once the estate is formally reported, the Master of the High Court appoints the Executor who is responsible for administering the estate including disposing of the property.

  • 5. "Sell Assist" Properties

    This service is provided to clients in financial distress. Our aim is to assist our clients with marketing their property to achieve the best possible sale price. The process begins by the client signing a mandate that allows SA Home Loans to list the property on Private Property (free to the client) and to appoint agents on our panel to market the property. The agents on our panel agree to reduced commissions on the successful sale of the property.  For more information, feel free to email us on: SellAssist@sahomeloans.com

     

     

SA Home Loans has partnered with Private Property to make these properties available online for interested buyers to view. 

Further details are given on the SA Home Loans section of this site for the process to follow in order to purchase these properties.

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