Cape Town repossessed property auctions for those looking at buying land, houses or business premises at a competitive price in the Western Cape are great to utilise as a starting point. In times of financial difficulty many banks are forced to repossess homes, properties and other assets when owners have defaulted on their payments or were simply no longer able to afford them. Many of this real estate is then sold at auctions for a much cheaper price. Whether you’re a first time home buyer or are simply looking to buy vacant plots or premises, auctions are a great place to get started. So now is the time to get bidding!
The Western Cape is a beautiful place and Cape Town repossessed property auctions are a way for you to share in that beauty. You may not have all the funds you need but if you approach your credit provider or bank, they will often be able to offer you home finance. This simple step can help you to piece together the puzzle of your dream life. Banks are probably the safest place to get secured finance, because they provide you with affordable repayments and interest rates.
Many houses are reposessed as they are, which can make repossessions a great way to get the home you want with the decorations and refurbishments included. Auction events and the bidding atmosphere can be really exciting but it’s important not to get caught up in that excitement without properly evaluating the properties you are interested in. Properties are often sold as is, which means that you may need to do a little work on renovating your home. But at the cheap prices you can often take advantage of at auctions, this can be something to look forward to.
So if you’re in the Western Cape and have fallen in love with the scenery, why not visit one of the regular Cape Town repossessed property auctions and see if you can’t find the home you’ve always been looking for.
Attend FNB Property Repossession Sales
If you wish to attend FNB property repossession sales then here are a few tips and guidelines for you to consider beforehand. Firstly, the properties on auction come as is. This means that even though you may think that you can negotiate a price based on the condition of the house, you cannot. FNB will have repossessed the property due to the fact that the previous owners missed bond payments and as a result the bank is merely trying to get back the money still owing to them on the bond. This is why the properties are sold at a reduced rate. Therefore, the banks are not interested in the condition of the house or office. It is therefore always important to set up a viewing of the house, flat, or office space before you purchase anything on auction.
Another important thing to remember should you wish to attend FNB property repossession sales is your budget. It is always important to go in to an auction with a fixed amount that you are willing to spend on the property. What is more important is that you do not go over that amount otherwise you may end up where the previous owners of the land, flat or house are. Many people get caught up in the atmosphere and vibe of the auction and continue bidding when they should not, therefore one suggestion is taking someone with you to a property auction should you feel that you may not be able to stick to your budget.
If you still feel that you want to attend a property auction but are unsure of where to find the FNB repossession listings, then you need to visit their website at www.fnb.co.za as they provide further information on their property sales as well as a list of properties that they will be auctioning.