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Nedbank Owned Properties

What is a Nedbank-owned property (NOP)?
A NOP is a property that was bought by Nedbank at a public auction. It is usually bought to recover the outstanding debt on a home loan account.

How do I buy a NOP?
  • Access the Preferred Property Guide click here >>
  • Contact the Nedbank Contact Centre on 0860 911 007 to establish availability prior to submitting the required documentation.
  • Obtain the required documentation click here >>
  • Complete the Nedbank Abridged Offer to Purchase form, with the property reference number inscribed clearly.
  • Staff must insert their employee number on the front page of the Nedbank Abridged Offer to Purchase form.
  • Fax the required documentation to 011 495 8669 or send via email to NOPOTP@nedbank.co.za
  • It is important for prospective purchasers to read the Agreement of Sale to ensure that all the terms and conditions of the sale are understood, click here to access the document

Required documentation

A prospective buyer has to provide Nedbank with the following when submitting an offer to purchase a NOP:
  • The signed Abridged Offer to Purchase;
  • The signed Addendum to the Offer to Purchase;
  • The signed Important Notes to the Offer to Purchase;
  • Identity documents;
  • A valid estate agent/agency fidelity fund certificate with every Nedbank Offer to Purchase

Reservation Fee (non-refundable deposit)

The reservation fee is non-refundable (payable in cash or by electronic funds transfer - no cheques will be accepted) and the amount payable is dependent on the purchase price, namely:

For a purchase price of up to R250 000 R1 000 (one thousand rand)
For a purchase price from R250 001 to R750 000 R5 000 (five thousand rand)
For a purchase price of R750 001 and more R10 000 (ten thousand rand)
  • The reservation fee must be paid within two business days of receipt of the approval-in-principle letter issued by Nedbank. The Nedbank account details for payment of the deposit will be reflected in the letter.
  • In the event that the reservation fee is not received by Nedbank within two days of the issue of the approval-in-principle letter, the offer will be automatically revoked.
  • Once the reservation fee is received by Nedbank, the purchaser will have 19 days from the date of the acceptance letter to provide proof of final bond grant or of cash available.
  • The proof of bond grant or of cash available must be faxed to 011 495 8669 or emailed to NOPNRD@nedbank.co.za
  • No extensions to the 19 days will be allowed.
  • The deposit will be forwarded to the transferring attorney once the proof of bond grant or of cash available has been received.
  • The deposit will be used towards the transfer costs.
  • If the purchaser does not obtain a final bond grant within the stipulated 19 days, the deposit will be forfeited and the offer will be revoked.
Occupation of the property
  • The bank does not guarantee vacant occupation of NOPs. Should the property be occupied, the purchaser will have to obtain vacant occupation at his/her own cost.
Outstanding rates and taxes
  • Nedbank will pay all outstanding rates and taxes on the property until the date of registration or the date of occupation whichever occurs earlier.
Benefits
  • No transfer duty is payable, which means huge savings when buying an NOP.
Fees payable by purchaser
  • Transfer and registration costs are for the account of the purchaser.
Attorneys
  • Nedbank will nominate the transferring attorney.
Conditions of Sale
  • Nedbank will not accept any Offer to Purchase that is subject to the sale of an existing property.
  • No renovations or alterations may be done to the property prior to registration of the property into the purchaser's name.
Notes:
  • The Offer to Purchase should be faxed to 011 495 8669 or alternatively emailed to NOPOTP@nedbank.co.za
  • All enquiries should be directed to the Nedbank Contact Centre on 0860 911 007 or alternatively emailed to hlsales@nedbank.co.za


Disclaimer
This information is produced by Nedbank Ltd ('the bank') for marketing purposes only. The bank does not warrant that the information provided is true and correct, or that properties listed are still available for sale. It is recommended that prospective purchasers consult the relevant deeds registry for accurate information pertaining to a particular property, such as extent, endorsements, servitudes, etc.

Any persons relying on the information on this list does so at his/her own risk. The bank will not be liable for any losses of whatever nature incurred as a direct or indirect result of the reliance on the information on this list.

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Nedbank Ltd Reg. No 1951/000009/06. Authorised financial services and registered credit provider (NCRCP16).

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