Bank repossessed properties are the result of borrowers defaulting on their home loan repayments to the extent that the home loan has to be terminated.
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Fnb s main objective is to minimize the default indebtedness of the property s previous owner.
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Bank wants to get rid of fnb repossessed houses fast.
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Repossessed houses bank repossessed properties for sale bank repo properties properties in possession pip fnb mandated sales quick sell.
There are 3 different phases during which buyers are able to purchase these properties.
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The bank is only interested in recovering their losses and are therefor very likely to accept low offers for these houses.
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The bank wants it money fast.
Benefits of buying an fnb repossessed house fnb repo properties are often sold well below their true market value.
Myroof provides a platform for fnb to list properties.
This means that you can get a bargain especially if the property is empty.
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Once the bank has repossessed a home it will then look to recoup some of the loses it has made by placing it on auction or sometimes by selling the property online.
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Nedbank properties in possession is a list of houses repossessed by the bank.
Fnb also offers full 100 bonds to buyer of any of their quick sell repo houses.
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If you are interested in buy a property do visit the property several time accompanied by a solicitor or surveyor.
