Nedbank Repossessed Houses are properties that the bank has had to repo in order to recover some of the finance it has lost in granting the home loan for the purchase of the house. These repos are then sold off by the banks to the general public, often at a reduced price.
Besides being able the secure a great bargain there are other advantages to buying a Nedbank Repo House. There are no transfer duties payable and the bank will settle any outstanding rates and taxes on the property. This can amount to a very substantial saving.
If you are interested in a Nedbank Repo, it would be advisable to go and look at the property before you decide to put in an offer to buy the house. The bank does not guarantee that the properties are vacant, and it would then become your responsibility to evict the occupants.
Once you’ve had a chance to view the property, and are ready to make an offer for the house you can download the official Nedbank Offer To Purchase (OTP) Document. Complete this OTP document and fax it to the repo department at Nedbank.
Download The Nedbank Offer To Purchase Document - [Printable Format]