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Increasingly tough business conditions, the property market slowdown and a rise in asset forfeitures has created opportunities for property investors on the auction circuit, says Park Village Auctions.
"Large numbers of homes are being auctioned as a result of bond payment defaults, liquidations and other reasons, generating outstanding stock in the process," says PVA's Peter Havenga.
This includes four sectional title units, the sale of which arises from an insolvent estate. This will take place at 10.30am, at 'Constantia Rock' 12, Linda Street, Constantia Kloof, Roodepoort, on May 5.
Unit 1 is a simplex measuring 223sqm, with entrance, lounge, dining room, kitchen, three bedrooms, one bathroom, double garage and visitors' parking.
Unit 2 is a duplex measuring 288sqm and comprises two lounges, dining room, kitchen, four bedrooms, two bathrooms and guest cloakroom on the lower level while the upper level offers a study and TV room.
Unit 3 measures 292sqm and has a similar floor plan to that of unit 2, while unit 4, measuring 316sqm, is a large duplex.
Another notable sale takes place on May 7, commencing at the customary time of 10.30am. This auction will be on site at 93 Churchill Avenue, cnr Haldane Crescent, in Wendywood, Sandton.
For information call 011-789-4375/6/7 or www.parkvillageauctions.co.za