Asked by ThembekaM on 09-06-2020 14:46:18
Question posted in the Property Law category relating to Gauteng
I signed an offer of purchase before lockdown to buy a property in Johannesburg South and paid the full amount. Yesterday I received an email from the agent that said the purchase of the property has been cancelled due to found information that the property was repossessed by the bank and sold internally. The agent carried on saying the attorneys will therefore refund the full amount.
Answer to the Question
Posted by Att. Patrick on 12-06-2020 21:21:56
I see that you haven't made a payment for the question, but I'm going to assist you a little. If you want to ask a follow-up question, please make the required payment.
The bank can't repossess the property unless they have a Court Order, so ask to see the Court Order.
Second, the bank can't "sell it internally", the sheriff of the court needs to auction it off.
So, I would say that you should challenge this.
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