FNB Quick Sell Repossessed properties

A property becomes a Property in Possession (PIP) or Bank Repossessed Property, once a customer has defaulted and the bank's reserve price was not achieved at auction.

General information about Bank Repossessed properties:

  • FNB offers buyers up to 100% bonds on all Quick Sell Repossessed Properties.
  • No transfer duty is payable by the purchaser.
  • There is no discount on attorney fees as per Quick Sell Private Sale Properties
  • Property rates and taxes (including all arrear amounts in this regards) will be paid by FNB until the date of registration.
  • Transfer is often much quicker.
  • All properties are sold 'as is' with no suspensive conditions allowed
  • Only the conveyancers on FNB's panel of conveyancers will be used.
  • The purchaser is responsible to obtain an electrical compliance certificate
  • FNB 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.
First National Bank - a division of FirstRand Bank Limited. An Authorised Financial Services and Credit Provider (NCRCP20).