3 BEDROOM HOUSE SELLING FOR E520 000

MBABANE –  Property punters have been presented with an opportunity to expand their business portfolio in Pigg’s Peak through the acquisition of a three bedroom house.

Pursuant to a writ of execution in the matter between Standard Bank and Boniface Mdluli, the property, which sits on a plot measuring 764 square metres, will go under the hammer at a reserve price of E520 000.

The auction will be convened at the High Court on Friday starting from 10am.
The property is located at lot number 90 at the Glen Township.

The house comprises of three bedrooms fitted with built-in cabinets, fitted kitchen with timber cabinets and double drainer stainless steel sink unit, bathroom, wash and hand basin, half wall ceramic splash back together with lounge. It was also explained that the floors are finished with vinyl tiles throughout, windows are of glazed steel-framed casements incorporating burglar bars and the external doors are stable in steel frame.

On the conditions of sale, it had been mentioned that the purchaser would be expected to 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 or Building Society guarantee, to be approved by the plaintiff’s attorneys should be furnished within 21 days.

“In the event of the purchaser being unable to pay the 10 per cent deposit immediately, the deputy sheriff shall be entitled to forthwith cancel sale and put the property on auction. 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 nine per cent per annum on the amount of the award,” reads the condition of sale in part.

Punters

Property development punters had a busy year in 2018. 
Another independent analysis by the Business Desk on the basis of four reports issued by the Deeds Registry uncovered that nearly 1300 immovable properties exchanged hands in 12 months.

To be more specific, the Deeds Registry reported that it registered 1 103 deeds of transfer. The registry further reported that 24 Crown grants were recorded in the period between January and December 2018.

Simply put, this is a title to land which government has granted to a person (s), company (s), statutory body or an incorporated association.  However, it was not ascertained whether the grant was made for a cash consideration or on the completion of certain developments that will benefit the State or a mixture of both.

Noted

It was also noted that there were 1 065 mortgage bonds recorded by the office.
In monetary terms, it was ascertained that about E17.9 million was raked in from stamp duties, fees of office and search fees. It should be noted that stamp duties attracted most of the revenue as it stood at E17.8 million.

There had been a slight increase in the number of properties that changed hands. In nine months of 2017, there were 742 property transfers.
In the wake of news to the effect that there had been an upsurge in the property sector, it should be mentioned that non-emaSwati property owners who acquired land prior to the pronouncement that only Eswatini could now own land in the country would not have their transactions reversed.

Post your comment

Your name:

Your e-mail address:

Add your comments:

Please enter the code you see in the image:

Image:

Code: