Bank Properties for Sale
What are bank properties?
If you’re new to the concept of bank properties for sale, then here is a look at exactly what this means. Essentially a bank property sale (also known as a bank-assisted sale or distressed property sale) is when properties are sold by owners who need to quickly address a depleted financial situation. The bank property sale gives buyers the opportunity to buy homes at realistic prices, while also giving sellers the chance to reclaim much-needed funds in a short space of time.
More value for your buck
Often bank properties will be on sale when a homeowner is unable to continue paying a bond, or if there are arrears on payment and the property has been attached. A bank representative will then put the bank property up for public auction where it will be advertised across various media such as Private Property. Because banks are not looking to make a profit on the sale – rather recoup losses – buyers are often able to find incredible deals on bank properties for sale.
Bringing you the best bank properties
Private Property features an extensive list of bank properties for sale, working in partnership with some of South Africa’s most established financial institutions. These include Standard Bank, Absa, Nedbank and SA Home Loans, all of which feature the latest bank properties from around the country.
The bank properties for sale on our user-friendly site are conveniently categorised according to price range, and property type – houses, apartments and flats, or townhouses and clusters. Alongside the comprehensive property listing, Private Property also offers potential property owners usable advice related to bank properties.