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If you’re looking to purchase a new home but can’t find a property you can afford while searching the houses for sale in your area, you may be over looking the bargains offered by bank repossessed homes.
In recent years Property Prices have increased sharply and interest rates are driving up the costs of home ownership, for this reason buyers are having to wait longer to find a home in their preferred areas, which they can afford.
The demand for bank repossessed properties has meanwhile been increasing. A repossessed home offers buyers a cheaper alternative, and you can find quite a few bargains in the property Repo Market.
Here’s what everyone should know about buying a Bank Repossessed Property:
On average Bank Repossessed Properties are sold at a huge discount and since banks are keen to find buyers they are often prepared to relax their lending criteria, making home loans for Repo houses more accessible.
When buying a Bank Repossessed house you don’t pay any transfer costs, although you are still liable to pay the attorney’s fees for registering the property in your name.
Another advantage is that Transfer is often much quicker, leaving you more time to do any renovations before you actually move in.
Also make sure you get a Home Loan Pre-approval from Mortgage Plus cc, before you begin browsing the latest list of in South Africa.
CONTACT US
Speak to a home loan consultant about financing your new property or reviewing your existing mortgage. We are able to assist in lowering your bond repayments and securing attorney discounts.
Complete this short form online
Call us on 011.327.4489
Email: morne@mortgagepluscc.co.za
www.mortgagepluscc.co.za
Leave A Comment
2 Comments to 'Buying Repossessed Homes and Securing Home Loan Finance.'
The loan finance is very important. It’s not worthy to invest in a property if you can’t handle the payments
HYou have a great website here , I can tell you put lots of work into it. It’s a shame how numerous people have been straddled with excessive credit card debt and really do not understand there are ways to get out from under the credit card companies thumbs , its great that you’re taking the time to point this out great job.
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