High court cautions attorneys on forced auction sales

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A Gauteng High Court judge has laid down the law and cautioned attorneys and home loan providers that there will be no shortcuts in matters involving the forced sale of people’s homes at auction. Moneyweb Property

A Gauteng High Court judge has laid down the law and cautioned attorneys and home loan providers that there will be no shortcuts in matters involving the forced sale of people’s homes at auction.

None of the documents had been served on the homeowners because, she was told, they were not “applications” and it was not required. Judge Fisher said the rule required in these circumstances that the sheriff report back within five days of the auction. “This suggests that the legislature intends the reconsideration of the reserve price must be done without undue delay. This stands to reason. Property values are not static.

 

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