********** Home Loan
Explain Please ABSA I put my House in Danabay up For Sale in November 2020 and the agent brought people around the same week to look at the house. Something in my gut told me not to sell the house to them. On the 04 December 2021 after the visit we decided to sign the Offer To Purchase as a bond by the buyer was confirmed by ABSA bank for R900,000 and had a substandard amount as a deposit Wow what a surprise did we get as the Deeds office turned the registration Down due to the fact that the person buying the property is under Sequestration. How can a person under sequestration Firstly how did they get a bond from ABSA bank for R900,000 Secondly sign a Legal Contract I want to know from ABSA BANK how do they grand loans to n person that is under Sequestration. Even more disturbing was the fact that I phoned Absa Bank home loan and ***** Departments and spoke to three different people in both Departments and non of them knew what the meaning of “a Person under Sequestration is. The complained was made to Absa and I was told that they will close the case as it is one of their client’s and can not give me any information. That to me is not acceptable as someone is getting away with *****.
*** Bond was given for R900,000 and was only withdrawn after the Deeds Office found that She was sequestrated. So there was no second check.
This was either a result of people not doing their job or the woman did not declare her credit states on the application form
This is their answer:
Our response: The matter regarding Home Loan application approved for a person under Sequestration was expedited to the mandated officials at Home Loans. Due to confidentiality reasons, we are unable to provide all details relating to the bond application, however we can advise that: · Application for Home Loan finance was received from . · Based on the extracted documents including credit bureau inquiries, the bank could not make the determination of Sequestration by Mrs. at the time when application was received. ** As part of the second check, our bond attorneys who act on behalf of the bank picked up the Sequestration status and immediately informed the bank. *** The bond application was immediately withdraw from the Absa system and informed.
*** Bond was given for R900,000 and was only withdrawn after the Deeds Office found that She was sequestrated. So there was no second check.
This was either a result of people not doing their job or the woman did not declare her credit states on the application form
This is their answer:
Our response: The matter regarding Home Loan application approved for a person under Sequestration was expedited to the mandated officials at Home Loans. Due to confidentiality reasons, we are unable to provide all details relating to the bond application, however we can advise that: · Application for Home Loan finance was received from . · Based on the extracted documents including credit bureau inquiries, the bank could not make the determination of Sequestration by Mrs. at the time when application was received. ** As part of the second check, our bond attorneys who act on behalf of the bank picked up the Sequestration status and immediately informed the bank. *** The bond application was immediately withdraw from the Absa system and informed.