Category: Auctioning off a house
Nedbank has been slammed by a judge for auctioning off a house even though the owner’s bond repayments were up to date.
The successful bidder for the Rustenburg property sold it within two weeks for a profit of R179 000. But as a result of a judgment in the High Court in Mahikeng‚ the chain of deals two-and-a-half years ago must be unravelled and the house returned to the original owners‚ Joel and Dikeledi Makubalo.
The Makubalos also won a punitive costs order against Nedbank over what Judge Ronald Hendricks dubbed a “very disturbing” sequence of events.