Flats repossessed by the banks are some of the cheapest places on the market to buy. Visiting auction houses hosted by Nedbank, Standard Bank, ABSA or FNB means that you will be looking for a property to purchase by bidding on it. Such auctions take place all over the world, but in South Africa they are popular in Natal, Cape Town and Gauteng among many other cities. You can find out about these auctions by visiting your nearest bank, any one of the above mentioned branches will do – as long as they have upcoming auctions you don’t have to worry about which one of them to ask, ask them all if you can.
There are many benefits to purchasing flats repossessed by the banks; besides the fact that they are cheap, you also get some really awesome places to choose from. There are hundreds of auction houses in Gauteng, Cape Town and Natal, so if you are in any of these cities and wish to attend an auction, all you have to do is go into your nearest Nedbank, ABSA, FNB or Standard Bank and find out the locations and dates of their auctions. Auctions don’t always take place at the same venue, so it is better for you to go and find out where they are rather than just assuming that it will be where it was held the last time.
When you are specifically looking to buy an apartment, you know that you have many options and because flats are generally cheaper than houses are, getting the money together shouldn’t be a problem. Even if you don’t have the cash in your account, you could always apply for financing to help you. There are many options for you to explore; search them all and find out how you are going to get your hands on the property repossessions at the banks.