Can he use my deposit to cover my April rent? If you can’t go you should tell the court as soon as possible. A repo man can't break into enclosed property. Fortunately, house inspections are still available during the lockdown. The best thing to do if you can’t afford your monthly repayments is to speak to the bank or creditor. The lender has a legal duty to sell quickly and they also have a legal duty to obtain the best possible price for the property. Time is more on your side than your think. For more stories go to www.BusinessInsider.co.za. Repo agents cannot damage your property. I made it clear that zoom lessons wouldn't fit the bill and it had to be in person and it was agreed that lessons would be suspended if that were the case. Repossessed properties are often valued lower than normal house sales. Your car can't be repossessed if it's parked on your property — this includes your garage and yard. Nor can they access locked/fenced-in areas of your property without permission. It is possible 10 valuers looking at a property may well come up with 10 different valuations and accordingly while you may disagree with the price obtained for the property unless it is very wide of the mark there may be nothing you are able to do about it. 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You may also be able to file a counterclaim for any damages that the bank or repo agent … Q: If I was looking to buy a home, should I stop my search until the lockdown is over? June 5, 2020 by . My second worry is my health as he smokes and drinks with friends (visitors) in the property during lockdown…so leaving the property at end of April has been my request as I don’t have money to pay rent in April. Will Kirkman For Thisismoney.co.uk 05/06/2020 If the repo agent breaks into your garage to take the truck, that is breaching the peace. Some lenders will help you sell a car you can't afford anymore, and you may be able to save on costs by giving back the car rather than having it taken away. This is because they may not have been left in great condition. Seeking possession to evict tenants during the Covid-19 lockdown. Karen Baron January 5, 2021 at 10:03 am. The lender must give you details of: During April and May, car repossessions dropped to nearly zero, as a hard lockdown shut car dealership and licensing offices. I am not sure if the property has now been sold or if it is awaiting sale. While prices have dropped in certain parts of the country that is not the case everywhere and if the Covid-19 emergency slows down it may be the case that prices pick up again very quickly. This means they can’t threaten you or use physical force. It cannot break locks or destroy or damage property in attempting to reach the car. As you mention, your friend unfortunately saw their home repossessed just before the ban came into place. Is it OK to travel to another county to view properties? What are the rules for travelling to Italy this summer? A friend of mine had their house repossessed in late February, just before the lockdown … But, there are laws that protect you and your vehicle when it comes to repossession. In short, yes, workmen can enter your house in the lockdown. The simple answer is yes, your car can be repossessed on private property if it's out in the open. If they arrive outside these times without your consent, you can refuse to let them into your home and ask them to leave. Act quickly and you may be able to avoid repossession. With the government’s commitment to keeping the economy moving during the pandemic, most financial services have remained open for business. Can their lender sell the house at a reduced price because of the effects of the pandemic on the housing market? Mortgage lenders should not be considering home repossessions as an appropriate measure at this time, the City regulator has said. Microsoft and partners may be compensated if you purchase something through recommended links in this article. The rules are known as the pre action protocol for mortgage arrears. As the home was repossessed before lockdown, it's unlikely your friend's financial hardships were a result of the economic impact of the virus, which is what the Government's measures are intended to dampen. Not least of which being that the property owner remains liable for interest on his loan until such time as the property has been sold and the loan paid off in full. Repossessed properties can be sold on the open market using an estate agent or possibly at auction. PRIVACY, Telephone: 072 045 6365 | Email: admin@lawyersouthafrica.co.za. Most of these were repossessed because the home owners lacked sufficient knowledge of the law. Covid-19 lockdown has impacted households and Just Money's Sarah Nicholson gives advice if you are unable to make bond repayments. What to do to avoid repossession. Jenny April 6, 2020. It's very important to attend the hearing. There are generally good reasons for this. 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