Houses up for grabs in N West

Posted On Wednesday, 01 December 2004 02:00 Published by eProp Commercial Property News
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About 8 240 properties are up for grabs in the platinum province after the North West Housing Corporation (NWHC) resolved to sell them as they have for long been leased.

Property-Housing-ResidentialNWHC CEO Pitso Tolo announced yesterday that they would encourage current occupants about these properties. 

 "We hold the view that property is an economic asset, the owner should be able to use it as a collateral in cases where he/she borrows money.
 
"We say it also creates wealth as property appreciates value and that installments paid towards the property is for one's own asset as opposed to rental," said Mr Tolo.
 
Mr Tolo said they had already appointed agents in all areas where the properties were located to assist with the sales.
 
"The agents will assist occupants to find finance for the purchase. The corporation is currently engaging with finance institutions to work out the best possible deals," he said.
 
He said the marketing value of properties have been determined based on the original structure of the properties' construction.
 
"This is recognizing the fact that the current occupant may have made improvements on the property," he said.
 
Mr Tolo said they had approached home loan financiers, Green Start Finance, who indicated their readiness to assist.
 
"The corporation has made a decision to offer in-house finance to occupants who would fail to obtain finance from outside financiers," he said.

Last modified on Thursday, 22 May 2014 15:34

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