When attending FNB house and repossessed property auctions, ensure that you know the procedure involved to buy properties, plots, or vacant land. You are bound to come across many cheap homes in areas such as Durban, Cape Town and Gauteng so you just have to decide what you can afford and what you like. There are many options available to you when it comes to a bank repo, as if you buy properties you can decide what to do with them; live in them, rent them out, renovate and sell or sell just as it is. You could even start your own business buying and selling properties, if you have the capital to begin with that is.
Whether you are interested in large plots, small vacant land or just cheap homes, FNB house and repossessed property auctions are where you should be to pick them up at the not-to-be-missed bank repo prices. Many people even travel far distances to attend these events where there is a possibility of them purchasing property. So if you’re in Cape Town and know of auctions happening in Durban or even Gauteng, you’ve got to get there and get your hands on those bargains! The more suggestions you are open to, the better the opportunities will be for you. If you are able to travel to other cities and purchase at auctions, you can eventually have properties all over South Africa! It’s all up to you and just how far you want to take this business.
This is a good business to get into, so if you have the money to buy in properties, then visit an auction and see what it’s all about. Don’t purchase anything the first time round, just go to the auction, sit back and observe. You can find out about FNB house and repossessed property auctions by visiting the First National Bank branches in your area.