LAWYER’S HOUSE, PLOT AUCTION TOMORROW FOR E3.9 MILLION

MBABANE – Going once, twice and…. Lawyer Musa Leon Dlamini will have his four bedroom house and vacant plot sold by public auction for E3.9 million to recover monies owed to Standard Bank.

The property held under deed of transfer number 380/2006, which sits on a plot measuring 1.0084 hectares and located on portion 835 (a portion of portion 287) of Farm Dalriach number 188 will attract bids starting from E3.1 million following cancellation of the auction late last year.       
Improvements at the large executive residence with ample space for more developments, tarred road access with a nearby stream; include four bedrooms, master bedroom ensuite, lounge, family room with fireplace, dining room, TV room, fitted kitchen, scullery, pantry, laundry, storeroom and outside cottage.

“The sale shall be for E3.9 million and no bid less than E3.1 million will be accepted,” it has been stipulated.      
Further, a vacant plot, measuring 2.0108 hectares, will go under the hammer from a reserve price of E804 000. The property held under deed of transfer number 379/2010 is located at portion 96 of Farm number 300 in Manzini.  

On the conditions of sale, it had been mentioned that the purchaser would be expected to pay a deposit of 10 per cent in cash upon the fall of the hammer by the auctioneer. The balance against transfer to be secured by a bank guarantee, to be approved by the plaintiff’s attorneys should be furnished within 21 days.

“If transfer of the property is not registered within three months after the sale, the purchaser shall be liable for payment of interest to the plaintiff at the rate of 14 per cent per annum on the amount of the award,” reads the condition of sale in part.
The purchaser will also be expected to pay auctioneer’s charges on the day of sale. In addition, the successful bidder will have to pay transfer dues, costs of transfer, arrear rates, taxes and other charges necessary to effect transfer upon request by the attorneys for the execution creditor.

“The property may be taken possession of immediately after payment of the initial deposit, and shall after such deposit be at the risk and profit of the purchaser,” it was added.
The auction of both properties will be conducted today starting from 10:30 am at the High Court and Manzini Regional Offices. 

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