This opportunity was referred to us by a potential customer around mid-2021. The owners unfortunately had fallen behind on their bond re-payments as well as their municipal bill. They were in two minds on whether or not to sell the property and after some initial discussions, we didn’t hear back from them for a couple of months.

Towards the end of 2021, they got back in touch with us and decided they now had to sell before the bank took further action. We found a solution whereby we would immediately settle the monies owed to the bank, to help relieve the owners of the burden this was on them and to stop any legal processes from pursuing.

Once the pressure had eased, we were able to structure a deal that worked for all parties and we ended up doing a deal for R1.35M.
We began renovation works off the property in January 2022 with the intention of the project being a back-to-back or quick flip deal.

The budget for the project was approximately R200k. We were able to finish the renovations within 5 weeks and completely transform the property with modern finishes and a breath of fresh air. Upon completion of the renovation works, we able to secure an end buyer within record time.

The property has now transferred ownership to it’s happy new owners, an elderly family who look to reside at and enjoy their new home throughout their retirement phase of life.