AUCTION OPPORTUNITY
Mixed-Use Freehold
House & Shop Combination | Residential + Commercial Potential | Freehold
A rare freehold offering that gives you the flexibility of a residential home combined with an established shop component, ideal for an owner-occupier wanting to live and trade from the same property, an investor looking for dual rental income, or a buyer wanting to convert the commercial portion into additional living space.
This property forms part of an insolvent estate sale, giving prospective buyers the chance to secure a mixed-use freehold property through the auction process. As with all insolvent estate sales, there are a few important things you need to know before making an offer:
1. Trustee-Approved Sale
This property is being sold under the authority of a Trustee appointed to conclude the sale on behalf of the estate. The Trustee has final say over any offer, so acceptance can take some time. Offers need to cover all outstanding costs tied to the property — rates, taxes, levies, or bonds — so the buyer takes transfer with a clean slate. The Trustee also weighs the property's value and condition, including any repairs that may be needed, before making a decision.
2. Deposit & Financing
A 10% deposit of the purchase price is required within 48 hours of the Trustee approving the offer. This can come from personal funds, or via a short-term bridging loan taken out ahead of bond approval (if you're not paying cash). Once your bond is approved, the bridging loan is settled and you move onto your normal monthly mortgage repayments.
3. Voetstoots Sale — No Warranties
The property is sold voetstoots ("as is"), with no warranties or guarantees from the seller. A viewing is strongly recommended before offering, given the mixed-use nature of the property and the different considerations for the residential versus commercial sections. The buyer is also responsible for arranging an electrical Certificate of Compliance (COC) as part of the sale process.
4. Who's Who in the Transaction
There's a clear hierarchy on insolvent estate sales: you (the buyer) → the seller (the Trustee) → the auctioneers, who facilitate the transaction and property matters → and then us, the property practitioners advertising under the auctioneers' mandate.
Interested in viewing or finding out more? Get in touch with us today.
(Address and further property specifics available on request/at viewing.)
