A sale in execution (SIE) is a legal process whereby properties are sold at a public auction by the local sheriff (appointed as an officer of the court) on instruction by an execution creditor (usually a bank) to the highest bidder at the fall of the hammer. An SIE represents a final outcome as it is not subject either to the seller's or the bank's approval.
This is an Easy Sell sale (Bank instructed to sell property by the current owner) and attracts transfer duty which is payable by the purchaser.
Property rates and taxes (including) all arrear amounts in this regards) will be paid by the Seller until date of registration.
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