Latest Auctions News
The courts could not place a reserve price on a property when its was sold in execution, the Gauteng High Court, Pretoria, ruled in what could be a blow to thousands who lost their homes, or stand to lose them, after failing to pay the bond.
A family of four were left homeless yesterday after the owner of a hijacked Cleveland, Joburg house finally got it back.
When Hillcrest pensioner Gale Nel secured her bid for a home in the Camelot Estate during an auction in September last year she looked forward to the comfort and security it would provide.
The Ga-Rankuwa man who fell into arrears with the repayment of his bond is asking the court to order that there should be a reserve price set when a house is sold in execution.
Auctions have become a popular market place for property buyers and sellers because of the "straight forwardness" of the transaction.