Stopping sale in execution in South Africa with Real Estate Assist
Real Estate Assist is helping South Africans to stop sale in execution and stop foreclosure every day. With our unique selling strategy home owners are able to get out of a financial bind and return to financial freedom.
Do not attempt to fight the banks alone. They have a small army of lawyers and will use every trick in the book to get what they believe is theirs. Rather make use of our expertise and experience to get you out of this mess.
We have a unique selling strategy that is proven and works in your favour. The Real Estate Assist Team can help you stop the sale of your property in execution, stop foreclosure and get you out of financial distress allowing you to return to financial freedom.
What is sale in execution?
> Sale in execution is a process whereby your immovable property has been seized by the Sheriff of the Court.
> The Sheriff of the Court will seize your immovable property in order to recover monies you owe to creditors. These creditors may include, but are not limited to, banks or other financial institutions, medical aid schemes or other service providers that have obtained a court judgment for payment against you.
> The sale in execution itself is usually advertised online and in the local newspapers.
Why do you need to stop the sale in execution?
- The sale in execution will be at a price that is significantly less than the current market value of your property.
- The sheriff will take a large commission from the sale amount, which he is entitled to do.
- You will not get any of that money and you will still owe the full amount of your debt.
- You will get nothing out of this situation except losing your home, getting kicked out on the street and having nothing to show for it.
What is involved when stopping a sale in execution?
It is important to know what is involved when stopping a sale in execution. There are many different options available. The first thing that you should do is contact your lawyer, who will guide you through the process of stopping the sale in execution.
The first step in stopping the sale in execution is to get a court order as soon as possible, this will stop the auctioneer from selling your property at auction. However, you have to get the court order before they sell your property to another person at an auction. The court will then give you permission to appeal the judgment or make payment arrangements with your creditor. The judge will consider many factors when deciding whether or not to grant this permission. It can take up to four weeks for them to decide and send you an answer about whether or not they have granted permission for you to appeal or come up with a payment arrangement plan with your creditor.
How can you stop the sale in execution?
Fortunately, there are several strategies you can use to stop or prevent a sale in execution.
- Get legal advice. You should start by consulting with an attorney who is well-versed in the mortgage industry. With their help, you can determine what options might be available to you and learn how to go about executing them.
- Get a court order. If the sale has already been executed, a court order may be necessary to reverse it. While this isn’t always possible, it’s worth taking the time to seek out a reputable attorney and find out whether there is any way for you to get your property back through litigation.
- Get a reprieve from the sheriff. In some cases, it may be possible for an attorney to negotiate with the sheriff conducting the sale on behalf of your lender and arrange for them to delay or postpone it until other options are explored and/or implemented.
- Get an improvement loan. If your property has fallen into foreclosure because the borrower stopped making payments on their home equity line of credit (HELOC) or because they failed to repay funds borrowed against their home’s market value, one option you have available is obtaining financing that can allow you enough time and money to upgrade your property so that it will sell for sufficient funds to pay off your existing mortgage balance plus interest and expenses related to its foreclosure proceedings as well as additional fees associated with closing costs payable at settlement (typically totaling around 3% of your home’s market value).
Who can help me to stop the sale in execution?
If you are struggling to stop sale in execution and you want to sell, we can help you. We will assist with legal advice, stop the sale in execution and buy your property from you. If your property needs maintenance or repairs, we can improve it for you and then sell it on your behalf.
Sale in Execution – property not reachable by law enforcement or sheriff?
If the sheriff can’t get access to the property, or if he only reaches it after the auction has already begun, then he may not be able to sell it. The sheriff can only sell what is reachable. Unfortunately this means that even if you know your property is worth more than the outstanding debt, there may be no way of selling it at all.
The sheriff may also have tried to bring other items (cars for example) to auction but these were all found not to be on the property, nor anywhere else. If this happens, there really is very little that can be done.
The process must begin from scratch with a new application and judgment summons served again on you
Stop Sale in Execution – quick action needed.
So, you need to stop sale in execution with Real Estate Assist. In other words, you need to stop the Sheriff from selling your home at an auction and repossessing it for money owed by you. And, you need to do this quickly before he does. A sheriff sale date is set and no doubt you are feeling anxious and stressed about what would happen if your property gets sold. This is a pressing concern as once your property has been sold, it’s far more difficult to regain possession of it than merely stopping the sale in execution before the auction takes place.
Should a court order be issued against you and/or your business partner and should that court order result in judgement being granted against you then the creditor will issue an application for a warrant of execution against property owned by yourself or your company for any outstanding monies owed (excluding VAT). Once judgment debt has been awarded, a warrant can be requested immediately – there’s no longer time to settle out of court unless this was agreed prior to judgement being awarded or unless judgment has not yet been granted.
We can help you stop the sheriff from auctioning your property, improve it and sell it for you.
The sheriff must give notice of a sale in execution if he intends to attach and sell property. This is done by giving a letter of demand to the debtor and then sending a notice of attachment and sale in execution to the debtor, attaching creditors and the Master. The sheriff will also publish the notice in a newspaper circulating in the district where the execution property is situated. If you receive one of these notices, it means that your property will be sold unless you take action to stop it.
