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Property
Auctions and Repossessions
Your
Questions answered
How
will you be able to help me if my house goes on auction?
Here
are some examples of specific problems that were solved by
using our service.
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All
legal action against our clients like a summons,
judgments and a number of auctions, were stopped within
a matter of days. This gave them an opportunity to
try and sell their properties or to get their accounts
up to date.
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More
importantly, they all avoided a situation where they
would have been blacklisted for 30 years. Even
those that were already blacklisted were able to side
step this period, and are now able to buy another
house or a vehicle in just a short space of time.
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Those
who could not stop their auctions avoided the 24-hour
eviction notice that would have been served on
them, and was even able to stay on in their homes for
a number of months without having to pay rent.
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The
shortages that occurred on their bond accounts after
the auctions took place they also did not have to
pay back. That alone made it more than worth their
while to make use of our service.
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Instructions
that the various sheriffs of the court would have
received to do further attachments on their movable
assets, had to be withdrawn.
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Many
of these clients of ours even managed to cancel every
garnishee order that was attached to their salaries,
and can now enjoy much better pay cheques. Many
people do not even know that they can do this.
Please
note: Should
your creditor promise to stop the auction if you pay in
half of the amount in arrears, be very careful if you do
not get this in writing. He is still entitled to proceed
with the auction.
What
happens if my house was repossessed and going on auction?
Should
you not be in a position to bring your account up to date, you can
stop the process immediately. It
depends entirely on you.
What
ever you do, do not let them sell your assets on an auction
before you have spoken to us. If you
can not avoid the auction, do something about it immediately. Do
not take it lying down, use the law to fight back. Most people do
not even know that they can do this.
There
are certain things that can happen during and after the auction.
Are you capable of
coping with it?
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Your
property will be sold to the highest bid, it might only be
R100-00.
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This
means it can be sold for much less than what you still owe on
it.
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This
balance will have to be paid by you, whether you like it or
not.
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You
could be hounded for this money for at least 30 years.
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You
could also be facing a very short notice eviction order.
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A
garnishee order could also be imposed on your salaries.
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The
sheriff could be instructed to attach all your movable assets.
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All
legal fees in this regard is for your account and will have to
be paid.
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Even
after 5 or 10 years, they can again attach your new acquired
assets.
Don’t
let this happen to you. Have a FREE evaluation done on your
financial situation and you will be
surprised to see how easy it really is to get out of this predicament.
After just 10
days of your personal application, no creditor will be able to proceed with sales
in execution or any action as a
result thereof.
Will
I have to move out on the day of the auction?
By
law you can be asked to vacate the premises
in 24 hours, or you will be presented with a
rental agreement until such time that the
house is sold by the bank. The rental agreement obviously
only applies if the bond holder
has bought the property back at
the auction. Should a private person buy the property, you could
get a week or two notice to vacate.
Why
do properties get sold on auction for only R100-00 ?
Normally
what happens at an auction of this nature is that on the day of
the auction, your creditor is
always present to protect his interests. Should there be an
interest from the public, your
creditor will also partake in the bidding process until an amount
is reached that he is satisfied
with. The shortfall will be your liability.
Should it happen that there are no bidders for your property
on the day, your creditor will
then buy back his interests for R100-00. This is normal, as he
will not buy back his own property at
market value. The R100-00 is basically to become the
legal owner of your property, and you will then be liable for the rest of your outstanding
bond. From there onwards, he will
resell it at a market related
price.
Who
is responsible for the balance on my bond after an auction ?
This
will certainly happen. You will still be
liable for the balance of your bond, and will be able to
pay it back on the bondholder's terms. You will most likely be
asked to make them an
offer, which you will be committed to until such time the balance
is paid in full.
What
do I do if my house has already been sold on an auction ?
In
the case where your property has already been sold on an auction recently,
do not abandon your home at this stage
before talking to us. Do not make this mistake !! You will still
be able to stay on for several months.
We
can show you how to stop further legal action against you
immediately and prevent the execution creditor from obtaining an
eviction order against you.
We
can also show you how the sale in execution that has taken place,
can be put on hold for at least another three months, if not
longer, during which time you may still occupy the property
without having to pay any further
installments.
You
might also not be held liable for the difference between your
outstanding bond and the price that was paid for your
property on the auction. Normally you have to pay back this
difference.
You
will legally be able to prevent the Sheriff of the court from
impounding any of your movable assets.
We
live times today where debt and credit are taking on wretched
proportions. If you do not believe me, just have a look what is
going on at the Credit bureau or at any office of the Sheriff. You
will be shocked in your findings.
Stop All Legal
Action Against you Now !!

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P.O. Box
16315 Atlasville ZA 1465
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