Email:
info@propertytradeinvestments.co.za
Call us
011-954-1041
012-001-6401
Find us here
51 Shannon Road Noordheuwel
About Us
The National Distressed property specialist
“Helping people help themselves”.
Property Trade Investments was founded based on the fact that we ourselves were in this unfortunate position of losing properties because of financial difficulties over 22 years ago.
Property Trade Investments as a team has specialized in distressed properties for 22 years. (As a team 70 combine) We have extensive experience in the property industry and are prepared to assist you in resolving these matters in a number of ways! Our years of experience in these unfortunate instances have led us to discover the best ways to make your experience less unfortunate as a homeowner!
Property Trade Investments as a team has specialized in distressed properties for 22 years. (As a team 70 combine) We have extensive experience in the property industry and are prepared to assist you in resolving these matters in a number of ways! Our years of experience in these unfortunate instances have led us to discover the best ways to make your experience less unfortunate as a homeowner!
Overview
– If your property is sold on auction, a shortfall and judgement will still apply.
– Risk of bank getting a lower offer is still a problem.
– The auction buyer may not perform and all debt incurred until re-auction is for your account (unfair but a reality)
– Some buyers only buy with the intent to collect rent and then don’t perform.
– Auction buyers from so called “rings” do the following : They buy the property on auction as part of a group for a low price and then re-auction it between themselves .This is done to benefit themselves and to your detriment .
Our Services
We have extensive experience in the property industry and are prepared to assist you in resolving these matters in a number of ways!
How can we help?
Buy Back Option: Sell your home back to yourself
Sell your own distressed property back to yourself with the help of close friends or family (limited conditions apply).
Our in-house bond originators can assist you with the process and will explain the calculations in layman's terms.
Standard Bank
FNB
WHAT DO WE NEED FROM YOU TO PROCEED?
- a) Latest Rates/Taxes/Electric account & outstanding Levies (if applicable)
- b) Bond holder account no
- c) Copy of ID copies (all parties)
- d) Copy of “Summons” (please note: NOT the conditions of the sale)
Meet Our Team
George F. Meyer
George Meyer
CEO & Founder
CEO & Founder
George Meyer is the founder and CEO of PTIG (Property Trade Investments Group),
Antonette Delport
Antonette Delport
Head of Marketing and Public Relations
Head of Marketing and Public Relations
The most dedicated person we know is Antonette, a real estate veteran and expert since 1994.
Armand Engels
Armand Engels
Marketing Director
Marketing Director
A person who strongly believes that building and maintaining healthy relationships with people, good communication and honesty are some of the key factors in building a successful business. He strives to live by these standards in his personal life and in business.
Kume Naude
Kume Naude
Secretary
Secretary
Very dedicated and passionate. Committed to providing excellent service and delivering on commitments made to our clients.
Sidney
Sidney
Field Manager
Field Manager
25 years sales experience, excellent in communication, decision making and a compassionate person. Passionate about helping clients resolve their distressed property concerns.
Vandy
Vandy
Field Agent
Field Agent
Vandy is a hard-working and driven individual who isn’t afraid to face a challenge.
He is passionate about his work and knows how to get the job done.
Mindy
Mindy
Admin
Admin
Results driven, detail-oriented person who aims to provide full support to ensure the delivery of an excellent customer experience.
Frequently Asked Questions
Distressed property sales refer to homes that have been put onto the market because the homeowner has fallen into some sort of financial peril and can no longer afford to keep up with his debt repayments.
A distressed property is a home on the brink of foreclosure or already owned by the bank. Investors often seek these properties out because of the opportunity to buy a home at a discount.
The term distressed properties refers to homes that have been put onto the market because the homeowner has fallen into some sort of financial peril and needs to be rescued from his/her debt.
“Sadly, in these trying financial times, we are likely to see an uptake in the amount of these kinds of sales until our economic outlook takes a turn for the better.
When a homeowner has not paid the mortgage for at least a few months, they may fall into default and end up in foreclosure. ... If the homeowner does not pay the balance owed—or renegotiate the mortgage with the lender—the lender can put the home up for auction and force the homeowner out for non-payment. A sheriff's auction occurs when the bank is unable to recover the funds from the current bond holder, and instead applies to the court to auction the property.
Most properties are “Scheduled for Auction” until the day of the auction when they may be cancelled or postponed. Foreclosure sales often get postponed or cancelled at the last minute because the homeowner reaches an agreement with the lender, or the lender finds a buyer before the start of the auction.
At the auction, the property goes to the highest bidder. After the bidding ends, the successful bidder pays a deposit and signs conditions of sale, which stipulate that ownership and risk now transfers to them and may take possession of the property. The successful bidder can now demand access and occupation, which is normally done. At this point you no longer own the property!
A short sale occurs when a property is sold at a price lower than the amount the homeowner owes on the mortgage, and the homeowner’s mortgage lender agrees to the “short sale”
When your home is foreclosed, you have the right to remove all your personal property in the home. You're responsible for taking it with you or dispose of it as you deem right. When you leave, you have every right to take furniture, all the free-standing appliances, and personal property with you.
The auction house makes money by charging a commission on each sale. The ingenious thing is that it charges both the seller and the buyer, so it gains twice from each lot. So, they're double winners on the sale.
Do banks lose money on foreclosures? Assuming you mean does a bank that made a residential mortgage loan, and never sold the loan, and eventually foreclosed on that loan usually book a loss related to the foreclosure. In that case, yes.
Banks are run like a business because they are a business looking to earn a profit. If it costs more to foreclose over agreeing to a short sale, the bank is very likely to favour the short sale. With foreclosure, a bank takes possession of the house, then resells it at a mortgage auction to the highest bidder.
- Where the homeowner tries to sell their property to avoid having their home repossessed, which is called a "distress sale".
- A so-called “sale in execution” property. This is when a borrower continues to default on their home loan and lawyers for the bank will apply to the court for a judgment. Once the bank has received the judgment, the Sheriff of the Court will auction the borrower’s immovable assets. The property moves into the “sale in execution” phase and the sheriff auctions the property.
- A bank-possessed property. If the sheriff's auction does not meet the reserve price, the bank has the option to buy the property, and the property is then in the bank’s possession. In effect, the bank buys the property from the owner in default and the money from this acquisition clears part or all of the arrears owed by the former owner. The bank then puts the property in possession back on the market to try and get a better price.
A pre-auction offer is an offer that is made before the auction date. If the seller (while you still have the authority to do that) is willing to accept the offer, the auction may be cancelled if a sale and purchase agreement is signed.
GAUTENG LOCAL DIVISION – JOHANNESBURG In the matter between: ABSA BANK LIMITED, Plaintiff and POIL VANESSA WILLIAMSON (ID NUMBER: 6105………………..) 1st DEFENDANT, KEV WILLIAMSON (ID NUMBER: 60109…………….) 2nd DEFENDANT, MAGIC ESTATES (PTY) LTD (REG NO. 2003/016849/07) 3rd DEFENDANT NOTICE OF SALE IN EXECUTION 2021-06-17, 11:00, SHERIFF'S OFFICE, 5 ANEMOON STREET, GLEN MARAIS EXT 1 This is a Sale in Execution conducted in accordance to the Consumer Protection Act 88 of 2008 (as amended), in pursuant of a judgment obtained in the above Honourable Court dated the 26 NOVEMBER 2020 as against the First, Second and Third Defendants in terms of which the following property will be sold in execution on the 17th day of JUNE 2021 at 11:00 by the Sheriff of Kempton Park & Tembisa at 5 ANEMOON STREET, GLEN MARAIS EXT 1 to the highest bidder CERTAIN PROPERTY:- ERF 29996, GREENSTONE HILL EXTENSION 10 TOWNSHIP, REGISTRATION DIVISION, I.R., THE PROVINCE OF GAUTENG, SITUATE AT:- 67 WILDE AMANDEL DRIVE, GREENSTONE HILL EXT 10 MEASURING:- MEASURING 527 (FIVE HUNDRED AND TWENTY SEVEN) SQUARE METRES HELD by the Defendants under Deed of Transfer No.: T90068/2008 ZONING: Residential IMPROVEMENTS: The following information is furnished but not guaranteed: MAIN BUILDING LOUNGE, DINING ROOM, KITCHEN, SCULLERY, BEDROOMS X 3, BATHROOMS X 2., SEPARATE TOILET ROOF TYPE: CLAY TILE WINDOW TYPE: ALUMINIUM WALL TYPE: FACE BRICK OUTBUILDINGS GARAGES X2 OUTER WALL TYPE: FACE BRICK WINDOW TYPE: ALUMINIUM ROOF TYPE: CLAY TILE
Herewith a few answers to 2 different clients questions and our answers!
- Property Trade investments will pay and settle the bond and arrears with the relevant banking institute for the property. The bond is registered for R3 000 000.
- According to the property information I understand the Bond amount is R3 050 000 + Levy +- R43,000 + Elec +- R180,000 = R3 273 000 – If sold for R3 500 000 minus agents’ commissions +- (5%) R175,000 + R3273 000 = R3 448 000. Profit only R52,000.
- According to this information there is too little money in this deal! However, I suggest making the bank a lower offer of R2 700 000 (And include the outstanding Levy/elec latest account and wait their reply, if they decline, I suggest maximum of R2 800 000 new offer to bank, but homeowner must sign an acknowledgement of debt (AOD) in order for this to work.
- This exercise is to help homeowner get some money out of the deal. Yes, arrears need to be paid, in addition to paying arrears, the bond will be settled concurrently with a successful sale and transfer through a third party! Therefore, a simultaneous transfer is made.
- Correct! A deed of sale contract will be signed and sent to the bank, which will act as a temporary Cash buyer until a 3rd party buyer is found, to eliminate the seller's liability.
- Correct! A deed of sale contract will be signed and sent to the bank, which will act as a temporary Cash buyer until a 3rd party buyer is found, to eliminate the seller's liability.
- Correct! We engage highly trained experts in the field of real estate.
- That is 100% correct! No Cost Whatsoever!
- Yes! After all expenses profit is split in order to help you make a fresh start and help with relocation costs!
GAUTENG LOCAL DIVISION – JOHANNESBURG In the matter between: ABSA BANK LIMITED, Plaintiff and POIL VANESSA WILLIAMSON (ID NUMBER: 6105………………..) 1st DEFENDANT, KEV WILLIAMSON (ID NUMBER: 60109…………….) 2nd DEFENDANT, MAGIC ESTATES (PTY) LTD (REG NO. 2003/016849/07) 3rd DEFENDANT NOTICE OF SALE IN EXECUTION 2021-06-17, 11:00, SHERIFF'S OFFICE, 5 ANEMOON STREET, GLEN MARAIS EXT 1 This is a Sale in Execution conducted in accordance to the Consumer Protection Act 88 of 2008 (as amended), in pursuant of a judgment obtained in the above Honourable Court dated the 26 NOVEMBER 2020 as against the First, Second and Third Defendants in terms of which the following property will be sold in execution on the 17th day of JUNE 2021 at 11:00 by the Sheriff of Kempton Park & Tembisa at 5 ANEMOON STREET, GLEN MARAIS EXT 1 to the highest bidder CERTAIN PROPERTY:- ERF 29996, GREENSTONE HILL EXTENSION 10 TOWNSHIP, REGISTRATION DIVISION, I.R., THE PROVINCE OF GAUTENG, SITUATE AT:- 67 WILDE AMANDEL DRIVE, GREENSTONE HILL EXT 10 MEASURING:- MEASURING 527 (FIVE HUNDRED AND TWENTY SEVEN) SQUARE METRES HELD by the Defendants under Deed of Transfer No.: T90068/2008 ZONING: Residential IMPROVEMENTS: The following information is furnished but not guaranteed: MAIN BUILDING LOUNGE, DINING ROOM, KITCHEN, SCULLERY, BEDROOMS X 3, BATHROOMS X 2., SEPARATE TOILET ROOF TYPE: CLAY TILE WINDOW TYPE: ALUMINIUM WALL TYPE: FACE BRICK OUTBUILDINGS GARAGES X2 OUTER WALL TYPE: FACE BRICK WINDOW TYPE: ALUMINIUM ROOF TYPE: CLAY TILE
- 8-12 weeks (subject to deeds office, if they keep operating without any unforeseen delays)
- 8-12 weeks (subject to deeds office, if they keep operating without any unforeseen delays
- Only on date of transfer (8-12 weeks) or earlier only by mutual consent!
- The seller needs to comply with negotiated times for viewing the property!
- In the past 22 years, we have averaged 10 to 15 properties a month (with some being purchased directly from auctions).
+- R3600 That is for rescinding the judgement and interdict, however Nedbank blacklisted ITC (internal) is another case, which we do not deal with.
https://www.sowetanlive.co.za/business/money/2020-08-27-beware-of-debt-relief-scams/
The short version is, debt review helps you avoid personal bankruptcy, as it protects you from losing your valuable assets, except in the case where 10 or more days have passed since you received a section 129 letter of demand. In other words, you’ve been served with a summons relating to your mortgage or car finance.
The notice is issued in terms of section 129 of the National Credit Act (NCA) and advises a consumer that they are in arrears of a certain amount in unpaid instalment(s) at a given date. ... The section 129 notice is your last chance to take action before you are faced with serious legal action from your credit providers.
What is a section 129?
Named after a section of the National Credit Act, a section 129 notice is a letter issued by a credit provider when you are at least 20 days behind on your payments. It's a notice of “impending” legal action, which means that legal action will be taken against you if you don't act on the notice.
Morning Riaan!
I've attached a graph that shows the average selling prices for your complex and area of about R700,000, giving us an indication of the value of your property!
Also In addition, the proposal you received on your Whatsapp,
We recommend that homeowners in predicaments like yours stop the auction as soon as possible through our legal team.
The best way to proceed is for you to sell the property to us at the lowest price; to do this, you need the latest updated balance of levy and electric and copy of the summons as soon as possible (not the terms of sale).
This will be a cash sale from our side. A separate document will specify that we are to share the proceeds after expenses after the execution auction sale is stopped because of our cash offer to you, on the condition that all outstanding fees, including the bank, are to be paid immediately! Also, this judgment is therefore rescinded in your name!
Our next task will be marketing and securing a successful sale of the property for the best possible return for you and us as your financial partner.
What about DEBT RELIEF now? Can my house still go on Auction if I signed for debt relief?
https://www.sowetanlive.co.za/business/money/2020-08-27-beware-of-debt-relief-scams/
The short version is, debt review helps you avoid personal bankruptcy, as it protects you from losing your valuable assets, except in the case where 10 or more days have passed since you received a section 129 letter of demand. In other words, you’ve been served with a summons relating to your mortgage or car finance.
The notice is issued in terms of section 129 of the National Credit Act (NCA) and advises a consumer that they are in arrears of a certain amount in unpaid instalment(s) at a given date. ... The section 129 notice is your last chance to take action before you are faced with serious legal action from your credit providers.
What is a section 129?
Named after a section of the National Credit Act, a section 129 notice is a letter issued by a credit provider when you are at least 20 days behind on your payments. It's a notice of “impending” legal action, which means that legal action will be taken against you if you don't act on the notice.
Important Documents
Information and Links
Client Reviews
These reviews and references is about only a few of the thousands who got help and guidance in a very dark time in their life, you are more than welcome to engaged with them, there is even links to confirm that some of them were on a brink of losing everything on an execution auction sale. If you have doubt come and meet us personally and visit our offices!
Contact our head office to inquire about a representative serving your province/region/area/ or suburb
Get in Touch
Please leave your details and query on the form and we will be in touch.