There are bank repossessed property lists that you can make use of if you are looking at purchasing houses or other types of property from foreclosed deals or repossessions and you will find these mainly at repo auctions. You will be able to find details on such events at banks like Standard Bank, ABSA, FNB and Nedbank so what you have to do is go down to your nearest branch of all of these banks if you can and see what information they can give you. Then you check to see which of the auctions you will be able to attend.
If you are able to get your hands on the bank repossessed property lists soon, then you will be able to make notes of the ones you would like to attend and make space in your schedule to attend them. You are sure to find many houses that you like, some being foreclosed and some come from repossession, and they might not only have houses but you may come across a good property or too that you could do something useful with. A repo property will always be cheaper than what the house would normally sell for, but it doesn’t necessarily mean that the house is going to be dirt cheap.
You have to remember that many people want to do the same thing you want to do so they will also be looking for an auction to attend. There will be a lot of people at the auction, but the highest bidder is the one who will win. This is why you have to go to an ABSA branch, as well as that of Standard Bank, Nedbank and FNB so you can find out all you need to know about bank repossessed property lists and start marking the ones you will attend.