Typically the nature of the repo industry allows you to purchase property at far below the current market value

Having said that there are obviously good deals and great deals within the parameters of the financially distressed property market. Without fail those who align themselves with the correct market makers and make the proper provisions snatch up the GREAT deals and leave the GOOD deals for the rest.

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Repo property is important for today's homebuyer as it offers advantages that other property for sale does not offer. The fastest and by far the easiest way of locating repossessed property on the market is on the Internet. It is here that you’ll find the number one foreclosure listing service in South Africa, RepoProperty.co.za. On this website you’ll find a large selection of repo properties for sale all over the country.

Big Discounts and Saving

One of the main attractions of purchasing a repo home is its low price. Investors can often find properties as much as 60 percent below their market value or can persuade the property owner to discount the price. This can vary with the property’s condition and location. When viewing a property make a note of how much must be set aside for repairs and maintenance.

Better bargaining capability

The purchaser of a repo home has a better leverage than a normal property. This is because repo properties are not an asset that banks are particularly fond of. They are usually assets that don’t produce any income, so the banks are happy to get rid of them. This puts you, the buyer, in a better bargaining position than buying through an estate agent.

Excellent financial security

Once the property is yours you can use it you can use it as a way of earning extra income. If you’re not intending to live in the property yourself you have the choice of: • Renovating it and then reselling at a profit • Renting it out, thus forming a source of passive income Owning a repo home is an excellent investment, especially for people who wish to achieve financial freedom.