Bank Repossessions

Bank reposessions are properties bought directly, from an agent, or at an auction from a lender who has foreclosed on a property over which they held a mortgage.

The bank does not usually want to retain ownership of the property for any length of time, so it can be possible to pick up a real below-market-value bargain when buying a repossessed property.

In over-supplied markets where there is a glut of similar properties, it can take a long time for prices to recover, so you may need to take a long term view with this kind of opportunity.

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-- Invest From: POA City of Cape Town, Western Cape, South Africa

Clifton Mansion is a luxury house located on South Africa's Western Cape. The property is a Bank Repossession and will be up auctioned on the 24th of November. Featuring spectacular views of table top mountain as well as many other amenities.

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