InvestorBid Auctioneers

Bank Repossessed Properties are properties that were bought by THE BANK at a public auction.

They are usually bought to recover the outstanding debt on home loan accounts.

ü We will provide you with access information for the property so that you can visit the property at your leisure.

ü Verbal offers are not accepted by INVESTORBID or the bank: only written offers will be presented

ü Upon your request, Offer to Purchase documents will be emailed to you. Read through &complete all the paperwork.

ü Pay the Auction Commission (only 4% of the purchase price). As an Auction House, all our Properties are earmarked for Auction.

ü Email proof of payment and all Offer to Purchase documentation through to the relevant Agent / Head Office

ü Your offer is then forwarded to the bank by our Head Office.

ü You will receive a letter of acceptance / rejection within 14 working days.
If your offer is rejected, your auction commission will be refunded to you in the same way you paid it over. No admin charge applicable.

ü If your offer is accepted, you then have 19 days to send the bank / Head Office proof of bond grant or of cash available.
This proof must be emailed to relevant Agent / Head Office. No extensions to the 19 days will be allowed.

ü Should you require bond finance, our sister company - HOMELOANS 4U - is able to assist.
Depending on your credit scoring, the bank is able to offer 100% bonds on PiP’s.

ü Once these guarantees are received, the bank will instruct the attorney to begin the transfer

WARNING
If you DO NOT secure a bond within the stipulated 19 days, you FORFEIT your Auction Commission and your offer is REVOKED.

ü The Bank will nominate the transferring attorney.

ü The Bank does not guarantee vacant occupation of PiPs.
Should the property be occupied, the purchaser will have to obtain vacant occupation at his/her own cost.

ü No renovations or alterations may be done to the property prior to registration of the property.

End to end assistance from purchasing to bond finance to registration

Important information:

ü A 4% Auction Commission is payable before your offer will be presented to the Bank.

ü The Bank will not accept any offer that is subject to the sale of an existing property.

ü The Bank will pay all outstanding rates and taxes on the property until the date of registration or the date of occupation whichever occurs earlier.

ü No transfer duty is payable, which means huge savings on these PiPs.

ü Transfer costs -the fee for the transferring attorney to register the property in your name - are payable by YOU.

ü When applicable, bond costs are also for YOUR account.

www.propertyreality.co.za/bond_calculator.asp
Please note that this is only a GUIDELINE and fees may vary from attorney to attorney / bank to bank.

Bank Repossesd Properties:

Rates, taxes and levies are paid up to date!!!

No Transfer duty!!!

Conveyance fee, bank costs, electrical compliance

And wood borer certificate is for the clients account.

Feel free to contact us for more information and lists of available properties in your area. We are waiting for your call!

Contact us at any time 0861 22 22 97 for more information.