Prevent and stop your car being repossessed by ensuring that you make your monthly payments on time every time. The majority of repossessions happen because people are unable to make their monthly payments and have become stuck in a circle of debt from which they can’t escape. All banks, like FNB, Standard Bank, Nedbank and ABSA also have to make ends meet, which means that when you don’t pay they have to repossess your car, home or other good. They go on to sell these at auctions in order to recoup their costs. The laws are on their side and if you don’t pay, they will have their debt collectors come and find out why. So how do you prevent and stop your car being repossessed if you already know that you’re going to be in financial trouble? The simplest way is to approach the banks with which you have car finance and make them aware of the problem. They may take action, such as registering you as a slow payer. This puts a flag over your name so that you have more opportunity to repay them without having your car repossessed. However, you still will have to pay your debt eventually. ABSA, Standard Bank, FNB and Nedbank all also offer consolidation which allows you to collate all your debt into one loan, to reduce the stress involved in worrying about which one you’ve paid. If you don’t want your car to end up at one of the banks’ auctions… Read More

Buy second hand vehicles at bank repossession auctions if you want to save money when buying your car. As the cost of things shoots up it becomes increasingly difficult to afford life’s necessities like a good car. Many people suffer from the same feelings you do – stress and anxiety over where they will purchase their vehicle. Repossessed cars are the answer to your worries. By bidding at auctions you can get great quality cars from a variety of motor dealers, such as Toyota, at discount prices. What is even better is that often SA banks are on site to provide you with all the financial assistance that you need. If you have never thought to buy second hand vehicles at bank repossession auctions then it is time to start thinking. When SA banks repossess a vehicle, they have to sell it in order to get the money they need. In essence, they need to do this quickly and so the discount the repossessed cars and sell them at auctions. The cars are sold as they get them, so this may mean that you can get a great brand new Toyota and pay a very low price for it. However, it also means that you may get other cars from other motor dealers that are faulty, and this becomes your problem to deal with. If you would like to take part in the bidding for repossessed cars at auctions, certain information is required before you take part. This includes copies… Read More

Car repossession rights in South Africa are important to take note of, unless you bought your vehicle cash and owe nothing on it. If you went through the whole process of borrowing money from one of the banks, it is up to you to avoid getting into trouble. Even though you bought the car, the dealer still has some ownership over it until you have paid it off fully, and skipping a payment or paying late can give them the right to repossess it; the laws are on their side. A repo can take place as long as you are not repaying the banks for the money you borrowed and you are sure to get a few visits from debt collectors and you might risk your vehicle being sold at an auction. One of the most important tips for you to follow if you want to remain along the legal route and keep your car is to pay when the money is due, and pay attention to the car repossession rights in South Africa. The minute you avoid payments to the banks, they are able to process legal action against you and you will deal with debt collectors and a repo might be on the way! You have to abide by the laws, which state that if you do not pay back the money you borrowed your car may be sold at an auction and the money will be taken by the bank to pay your loan. There aren’t many… Read More

Australia’s used car auctions are where repossessed vehicles can be bought at nice prices. Motor dealers can sometimes be expensive, even for a used vehicle, so this is why many people prefer to get their dream Toyota at a discount price from an auction. Queensland is one of the areas where these auctions and bidding takes place, so all you will have to do is find where the auctions are being held and which of them you are able to attend. These are very popular auctions so make sure to get there early to avoid disappointment as it might get too full. There are many different ones that you can choose from when you want to visit Australia’s used car auctions; you just have to get the information on the details of them all and decide which to go to. Repossessed vehicles are fine to buy, but just make sure that it is in the condition you want before you purchase it. The bidding process is sometimes long, depending on how many people or motor dealers are interested in the Toyota cars and the other vehicle names. If you want a really good discount on a vehicle, you should find out about auctions in Queensland as this is where you will find what you are looking for. It is always a good idea to visit an auction, as then you can see what goes on there and you are sure to be interested in what there is to offer. You… Read More

UK bank owned property repossessions are happening all across the continent including in England. The economic global recession has hit developed economies as hard as it has hit developing economies which has meant that many people have unfortunately lost their houses. This is bad for them, but if you are in the market to purchase properties you may be able to get them at a low cost. How? It’s simple really. During times of financial stress banks attempt to get back the money that they have lost because of people defaulting on their payments. To do so they sell repossessed houses at auctions so that the funds can be returned quickly to them. Look out for the for sale sign advertising UK bank owned property repossessions and you’ll be in for a great buy. At auctions properties are sold at a fairly low cost, at least much lower than the original market price. The auctions are administered by trained professionals to ensure that they flow smoothly. The number of repossessed houses on offer means that there is often a wonderful selection of styles and models of homes. However, although they are cheaper than ordinary homes there are some things that are worth thinking about before you proceed. Firstly, bank repossessed houses are sold as they are. This means that unlike in a normal property deal where you can negotiate the house down in price because of damage or problems, in an auction this does not happen. The starting price is… Read More

There are auctions selling property in Cape Town, so if you are looking to purchase one of the cheap homes that are still in great condition, you should look at the bank repo ones. To buy houses isn’t always an easy job as the ones you like are normally way out of your budget, but when vacant land and plots are sold at auctions, they will be much cheaper. Spending a fortune on a house is great, if you have a fortune to spend, but if you don’t, buying from an auction will allow you to buy a house that is worth a fortune, for a fraction of the cost. There are different venues that these auctions take place at, so when you want to attend auctions selling property in Cape Town, visit the banks in your area and ask them for a list of their planned auctions. Cheap homes that can be found at auctions aren’t likely going to be found anywhere else, so when you see plots and vacant land for sale at an auction, take the opportunity. When you are shopping to buy houses, you know that it is a lengthy process and finding the perfect house for a good price might not always be the easiest task. The bank repo will happen when the bank repossesses the house from its owner and the bank will then sell it off, most likely at an auction where many people will attend. You may bid on the homes that… Read More

There are repossessed house auctions in the UK that you could visit when you are looking for houses for sale. Some of the areas you could purchase a house in are Wales, England, Ireland, Scotland or anywhere else in Britain. By visiting auctions where bank repossessions are sold, you will be able to get a house at an affordable price. There are many properties sold at these auctions so you are sure to find a house that you really like. The only thing you have to look out for is the amount of money you can spend at the auction. Many people sometimes spend more money than they should when they are at repossessed house auctions in the UK. Whether you want to live in Wales or Scotland or you would prefer to be in Ireland or England, there are houses available throughout the United Kingdom so you can choose which you wish to bid on. Bank repossessions take place when the bank takes back a house from the owner because they have not paid their bond. The properties will be for sale at the auctions and you will have to bid on them. Whoever bids the highest will win. The reason why people who are looking to purchase a house will rather do so at an auction is because the properties are sure to be quite a bit cheaper. This is because the banks aren’t looking to make a lot of money out of the deal; all they want… Read More

Houses repossessed by South African banks are often sold at auctions to allow banks to gain back some of the money that they’ve lost when tenants have not made their repayments. It is a great time for buying property and because the market is quite quiet and many sellers are trying to get things done as quickly as possible. Banks like FNB, Nedbank, Standard Bank, ABSA are all involved in the sale of foreclosed homes at much cheaper rates than they would originally have been sold for. Auctions are a great place to sell homes because of the excitement of the day. Auctions for houses repossessed by South African banks are really exciting places to purchase homes. Repo homes come in a variety of shapes and sizes, and also in a variety of conditions. Some are foreclosed when they are nearly new and others are only repossessed later into their ownership. In some cases you can buy a home and move straight in and in other cases you will need to do renovations, and you may even need to rebuild a portion of the house. It is best to inspect the property before you purchase it so you have an idea of what you’re in for. If you are interested in buying a repo home but are not sure if you are in a financially secure position then it is worth talking to your bank about home finance. Banks like FNB, Nedbank, Standard Bank and ABSA do offer some finance… Read More

Homes repossessed by banks normally sell off at an affordable price, so if you are looking to buy, this is where you should start. When a homeowner does not pay their mortgage, the deal will be foreclosed and the property more than likely will be shown at auctions. To have repossession take place on your houses is terrible, and the worst part is that they auction it off at such a ridiculous price; it makes you feel as though you wasted your time, money and energy on the house. When it comes to a repo, you might not have all that much warning, it all depends on the situation. In order for you to avoid it and keep you home, you have to make sure that your mortgage is paid on time, every time and then you shouldn’t become a victim of homes repossessed by banks. Your property is important to you, but if you are unable to keep up with the mortgage, rather talk to the bank about the auctions they hold and ask them for their advice. Maybe you should sell what you have and move on, maybe to a smaller place where the mortgage or rent isn’t so expensive. Do not wait until the foreclosed documentation arrives, go and talk to them about your situation and see what the say, they might be able to help you. Going through the repo stages of houses is not the best situation, but if it has come down to repossession… Read More

Some things to consider before buying a repossessed house are the amount of time you have to spend working on the house, its locations and its condition. Some repossessed homes are in excellent condition and you really do benefit from the cheap prices at bank auctions. However this is not the case with all houses and some require a lot of work before they can be lived in. If you are a first time property buyer, then there are some tips for before, after, to avoid being taken advantage of. Advice on things to consider before buying a repossessed home is available from your bank and online. Repossession normally occurs when the previous owner could no longer make their monthly repayments. The bank needs to get back some of the money that it has lost due to lack of repayments, and they need to do it fast. So the repo-houses are normally very cheap. However, they are often sold as is, which means that the conditions of the homes are variable and sometimes they require extensive renovations. If you have a homemaker in you though, this could be an exciting endeavour! Sometimes the furniture is included too. When you go to an auction have an amount in mind that you feel comfortable spending. Remember that if you are going to renovate a house, this should be taken into account when you are budgeting. There are often banks at the auction with whom you can negotiate further home loans should you… Read More