Where customers have no income or vastly decreased income and it is clear that they will be unable to rehabilitate, Quick Sell has been designed to assist and support customers in a dignified way to sell their properties through reputable estate agents in the open market.
- Increased control over the price achieved
- Reduced estate agent commissions
- Concessions of up to 25% on the shortfall (difference between selling price and outstanding debt)
This option is far more beneficial to the customer than the alternative which is sale in execution, a legal process where a customers property is attached and sold by the Sheriff of the Court to the highest bidder. In the case of a sale in execution, the property will fetch a far lower price than in a Quick Sell transaction, there will be no concessions and the customer's dignity is rarely left intact.
On Quick Sell private sale properties you get 50% discount on transfer-of-bond attorney fees & 50% off bond registration fees. No transfer duties payable on Quick Sell repossessed properties. *Terms, conditions and rules apply
Quick Sell Private Sale Properties
Quick Sell private sale properties refers to properties where customers have appointed the bank to market their properties on their behalf through approved estate agents. These properties can be viewed on www.quicksell.co.za.
- FNB offers buyers up to 100% bonds on all Quick Sell Properties
- Buyers receive a 50% discount on attorney fees pertaining to the transfer of the bond and 50% off bond registration fees (provided both transfer and registration is handled by the FNB appointed attorney)
- Property rates and taxes (including all arrear amounts in this regard) will be paid by the seller
- All properties are sold 'as is'
- Only conveyancers on FNB's panel of conveyancers will be used
- Where the property is guarded, an appointment must be made with the specific security company prior to viewing the property through the nominated estate agent
- All Quick Sell Properties are marketed via a sole mandate through an estate agent as appointed by FNB
- Normal credit lending criteria will apply on repossessed properties and Quick Sell properties
Quick Sell Repossessed Properties
A property becomes a Property in Possession (PIP) or Bank Repossessed Property, once a customer has defaulted and the bank's reserve price was not achieved at auction. These properties can be viewed on www.quicksell.co.za.
- FNB offers buyers up to 100% bonds on all Quick Sell Properties
- Buyers receive a 50% discount on attorney fees pertaining to the transfer of the bond and 50% off bond registration fees (provided both transfer and registration is handled by the FNB appointed attorney)
- Property rates and taxes (including all arrear amounts in this regard) will be paid by the seller
- All properties are sold 'as is'
- Only conveyancers on FNB's panel of conveyancers will be used
- Where the property is guarded, an appointment must be made with the specific security company prior to viewing the property through the nominated estate agent
- All Quick Sell Properties are marketed via a sole mandate through an estate agent as appointed by FNB
- Normal credit lending criteria will apply on Repossessed Properties and Quick Sell Properties
Quick Sell Insolvent Estate Property
A property becomes an Insolvent Estate Property where a customer has been sequestrated and the Master of the Supreme Court appoints a liquidator/trustee to manage the estate. These properties can be viewed on www.quicksell.co.za.
- A 10% deposit is required to be paid into the trust account of the trustee when the purchase price is between R1 to R750,000
- A 5% deposit is required to be paid into the trust account of the trustee when the purchase price is higher than R750,000
- There is no discount on attorney fees as per Quick Sell Private Sale Properties
- The property is sold 'as is' with no suspense conditions allowed
- Risk, possession and occupation of the property passes to the purchaser on date of confirmation of the sales agreement by the liquidator/trustee
- Occupational rental is payable to the estate at a rate of 1% per month on the purchase price
- The purchaser is responsible to obtain an electrical compliance certificate
- The sales agreement is subject to approval by the Master of the Supreme Court
- Guarantees are to be delivered within 30 days of confirmation of the sales agreement by the liquidator/trustee
- Only the conveyancers on FNB's panel of conveyancers will be used
