PIP Property:

General buying information:

* No transfer duty is payable by the purchaser. (Buying a PIP is a VAT transaction, which is already included in the purchase price)

* Property rates and taxes (including all arrears amounts in this regards) will be paid by the Bank until the date of registration.

* All properties are sold voetstoots (meaning as is).

* The Bank does not warrant that the Purchaser will be able to obtain vacant occupation of the property.

* Where the property is guarded, an appointment must be made with the specific security company prior to viewing the property.

* You are currently viewing a ‘property in possession’.

* This means that the property is being put up for sale by the bank, following the bank having obtained a court judgment against a prior owner of the property against whom the bank instituted legal proceedings.

* This also means that should the court judgment which the bank obtained be set aside or become unenforceable for any reason, the bank will no longer be able to sell the property.

* Should you therefore conclude a sale agreement with the Bank for the purchase of this property, and the court judgment in terms of which the bank has repossessed the property is set aside, or becomes unenforceable for any reason, the bank will be entitled in its sole discretion to cancel the agreement, and you will have no claim against the bank of any nature arising from the bank’s cancellation of the agreement.

* If you choose to purchase the property you are currently viewing, the sale agreement which you will be required to sign will contain terms and conditions setting out the banks rights of cancellation as explained above.

If you require finance for this property, you can apply at any bank for a bond, as you would do on any other property. You need to take the signed Offer to Purchase to them with the application documentation.

Bank Disclaimer:
This list is produced by the Bank for information purposes only. All properties are sold “voetstoots” (meaning as is), and prospective purchasers’ are advised that the Bank does not guarantee vacant occupation of the properties being sold, and purchasers will have to obtain vacant occupation at their own cost. You are advised to consult the relevant Deeds Registry Office for accurate information pertaining to a particular property, such as size, endorsements, servitudes etc. All users of the information on this website do so at their own risk. Neither the Bank nor the advertising portal will be liable for any losses of whatsoever nature incurred, as a direct or indirect result of the use of the information on this list.
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