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									                      Home Loans Credit - Product Guide

Property Sales and Services guide
The purpose of this document is to introduce you to the various Products and Services
that we offer; as well as provide you with a step by step guide for purchasing these

We essentially offer three products namely,
1. Properties in Possession (PIP),
2. Sales in Execution, as well as,
3. Private Properties where our Customers have requested us to assist them
   in the Marketing and Selling of their property.

We would like to draw staff members' attention to the following :
Staff may buy Properties in Possession directly from the bank.
Staff are not permitted to purchase any Sale in Excecution properties prior to the aution
date. (no offers can be made to the bank directly and you are also not allowed to enter
into arrangements with the current owners)
We can not consider any offers from staff on private properties.

Each of these products are briefly explained:

1. Properties in Possession (PIP)
A Property in Possession is a property where the Bank, through Legal means, has
repossessed and thereby taken ownership of it. The available properties are at this point
offered to the public for sale and any offer to purchase a PIP needs to be made directly
with the Bank, using our generic Offer to Purchase (Also known as a Sale Agreement or
a Deed of Sale) document.

1.1 The Requirements for Purchasing a Property in Possession
    1. Proof of Cash if you intend paying Cash for the property.
   2. A Standard Bank Offer to Purchase to be filled in. (This is available on
   3. CK1 Document and Founding Statement if it's a Close Corporation company
      or Trust purchasing a PIP.
1.2 The Benefits of Purchasing a PIP
    1. No Transfer Duty is payable by a Purchaser.

   Transfer duty is the tax that a Purchaser is obliged to pay to the Receiver of
   Revenue (SARS) when a property is purchase. (The amount is dependent
   upon the purchase price).

It is important to note that Transfer duty and Transfer costs (Also known as
Conveyancing Fees) are two different costs.

1. Transfer Costs are the amount an Attorney will charge you for services
    rendered to you and
2. Bond Registration Costs is the amount an Attorney will charge you to register
   the Mortgage Bond in your name

On PIP's Transfer (Conveyancing) and Bond costs are payable by the Purchaser/ Buyer.

1.3 Vacant Occupation of the Property
The occupation of a property by a Purchaser is subject to the property being vacant and
the Purchaser having paid all the relevant Transfer and Bond costs with our Transferring
Attorney. The Water and Electricity consumption account also needs to be transferred
into their name.

The Bank does not guarantee vacant occupation of PIP's though it will assist in securing

1.4 Outstanding Rates and Taxes
The Bank, up to the date the property is transferred into the Purchaser's name, will pay
any outstanding Rates and Taxes on the property in full.

2. Sales in Execution
A Sale in Execution is an Auction held by the Sheriff of the Court, it occurs as a result of
the Bank having taken Legal steps to recover debt on a Home Loan.

The Bank has through a Court Order attached the property, but is not the Owner of the
property yet; as a result we cannot accept Offers to Purchase unless the Owner of the
property consents and signs it as the Seller.

These properties are advertised in the Government Gazette, as well as, in two local
newspapers circulating in the district of the property. The Bank also markets these
properties to Estate Agents and the general public to get buyers to attend the Sale.

2.1 Purchasing a property at a Sale in Execution
You may obtain a list from us at any one of the contact details mentioned below or ask at
your local branch or call our Home Loans Customer Contact Centre for further
information. The list has the venue, the date and the time of the Sale including the likely
value of the property and its features.
2.2 The Required Documents
    1. A letter stating the Buyers name, the Buyers identity number and the amount
       the Buyer intends purchasing the property for, as well as an acknowledge-
       ment that, if the the Sale is cancelled for whatever reason, the Bank will not
       be held liable.
    2. In this letter we further require an irrevocable undertaking from the Buyer to
       open their bids at the amount they state they are willing to purchase the
       property for.
    3. A copy of the Buyers identity document.

    You will then attend an auction at the venue and if you are successful in
    purchasing the property you will be required to pay the following on the date
    of sale:
You will then attend an auction at the venue and if you are successful in purchasing the
property you will be required to pay the following on the date of sale:

2.3 Required Payments at Auction (Sale in Execution)
    1. A 10% deposit based on your Purchase Price, either in Cash or by Bank
       Guaranteed Cheque to the Sheriff.
    2. Sheriff's Commission based on the purchase price, it is calculated as
       follows, payable by Cash or Bank Guaranteed Cheque:
               a) 6% on the first R30 000 of the Purchase Price
               b) 3,5% on the Balance of the Purchase Price plus Value Added
                   Tax (VAT)
               c) Sheriff's Commission is payable at a minimum of R300
                  (Excluding VAT) and a maximum of R7000 (Excluding
                  VAT) depending on the Purchase price of the property.

       Although the 10% deposit and Sheriff's Commission is not a requirement
       of the Bank, one needs to ensure that they make amicable provision for
       the cost. A Buyer must bear in mind that at the 'fall of the hammer' the
       Deposit or Sheriff's Commission cannot be paid, the property will again
       be put up for Sale.

2.4 Conditions of Sale
On successfully bidding and buying a property the Condition's of Sale document, which
represents the Sale Agreement between the Sheriff and the Buyer, will need to be
signed. It is important to read this document because it sets out all that a buyer is liable
for, some examples of these liabilities are:

1. The Buyer is liable for all the outstanding Municipal Rates and Taxes on the
    property. This will need to be paid before the property can be transferred into the
buyer's name
2. The Property is sold 'Voetstoets', the Sheriff or the Bank will not be held
   liable for any deficiency that is found to exist or is in existence.
3. The Buyer is liable to obtain his own vacant occupation of the property.
4. Transfer Duties, Transfer Costs, as well as Bond Registration costs are
3. Private Properties
These are properties where the Customer finds himself in a state of financial difficulty
and as a result has decided to sell his property, but has requested that the Bank assist in
the Marketing and Selling of it. The Bank is solely and exclusively appointed to Market
and Sell the Property and we achieve this by appointing reputable Estate Agents to
market the properties.

Purchasing a property in this manner is the same as if your buying off the Private Market,
the selling of the property is neither a forced Sale as in a Sale in Execution, nor is it a
Property in Possession. As a result, the prices at which we advertise these properties are
always Market related and all relevant Transfer Fees, Duties and Bond Costs are
applicable and payable by the Buyer.

As mentioned, although the Bank is authorised to market and sell the property, it is not
responsible for:
1. The vacancy or the date you wish to take occupation of the property,
2. Any defects (whether patent or latent), and
3. Electrical Compliance or Entomologist Certificates.

3.1 Purchasing Private Properties
Once you have obtained the Marketing list, please refer to the column marked "Agent".
This will tell you the name and telephone number of the Estate Agent working on that
specific property. If there is no Estate Agent details, the contact details of the current
Owner are shown.

Once you have decided on a property you would like to view, you will need to contact:

3.2 An Estate Agent
If an Estate Agent is handling a matter, feel free to contact him/her to enquire on the
status of the property. They will arrange the viewing of the property, as well as, provide
you with the necessary documentation e.g. the Offer to Purchase. The Estate Agent
involved will also attend to the negotiations with the Owner relating to the Occupation
Date of the property.

3.3 Owner
If no Estate Agent is attending to the matter, we will supply you with the contact details of
the Owner on request. Then you need to make an appointment to view the property.
However, please note, that you are responsible for arranging the salient details of the
Agreement, for instance, the Occupation Date. If you wish to submit an Offer to the Bank,
we can supply you with a Private Sale Agreement certified by the Estate Agents' Affairs
3.4 Submitting an Offer to the Bank
Once you have signed an Offer to Purchase, you will have to provide us with additional
information, namely:

1. Proof of Cash, if you intend purchasing the property cash.

The documentation may be sent to us via fax, mail or electronically scanned and e-

For more information on the products and services of Home Loans Credit, contact us on:

Email    us on hlpipmarketing@standardbank.co.za or visit     our webpage
(Home Page - Products and services - Home Loans - Buying my Home - Finding a
Property - Properties in Possessions)

Alternatively, you may call one of our consultants, who will gladly assist you:
Phone us on: 0860 103 869

Fax us on: (011) 227 4512.
Yours sincerely

Home Loans Credit
Credit Marketing Department
                                                                                                                                                                                  Standard Bank of South Africa Ltd.
                                                                                                                                                                                 No 45 Commissioner Str
                                                                                                                                                                                 Email: hlpipmarketing@standardbank.co.za
Special Power of Attorney Marketing List                                                                                                                                          0860 103 869
    13/Nov/10                                                                                                                                                                     Fax no : 011 227 4512

    Ref no        Expiry Date Owners Details Rates Market Value                                   Street Adress                    Suburb              Prov                          Description
This list is produced by the Standard Bank of South Africa Ltd („the Bank”) for information purposes only. The Bank does not warrant that the information on this list is true and correct,
nor that properties appearing on this list are still available for sale. All properties are sold “voetstoets” (meaning as is). Please note that these properties are being marketed by the Bank on behalf of the
mortgagor, and any prospective purchasers will be required to negotiate vacant occupation, compliance certificates and the like when concluding the sale agreement
However the Bank cannot be held liable for any breach of contract occasioned by the registered owner of the property.

All users of the information on this list do so at their own risk. The Bank will not be liable for any losses of whatsoever nature incurred, as a direct or indirect result of the use of the information on this list.

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