What are Bank-Repossessed Properties?Bank Repossed properties are the result of borrowers defaulting on their home loan repayments to the extent that the home loan has to be
cancelled.
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Why are Properties in Possession Popular?It is best to check the terms before you put in an offer, but usually:
On the downside however, the property may still be occupied when you purchase it and also PiPs are usually sold ‘voetstoets’; again it is worthwhile to verify with the bank first. |
