My conscience wouldnt allow me to do so...

The only reason why some people are still alive is coz its illegal to shoot them!!

Would you buy shares at a LOWER price? Then why not buy a property?

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB

Hey guyz whea r these auctions taking place av always been interested.any1 ...pliz give me info.. Having said that,the tricky bit in Kenya always comes to the issue of title deeds. If you get the land and you're able to get a clean title deed then i don't see why not. If one can not jipanga when it comes to loan then its not your fault when you buy the land from the bank.

Stash Inc.

Although auctioning other peoples property over bank loans or guarantees is considered kind of immoral in kenyan set up,the real issue lies in the form/status that the previous owners are left in. In the past,there were only few cases,but nowadays there are so many auctions around that they are now becoming a normal way of life or another type of clean business to the people with or without money...

the only problem with the auctioned property is if the previous owner has enough musscle to sustain an injunction in court....it becomes a night mare to the buyer...


NEVER TALK OF A RHINO IF THERE IS NO TREE NEAREBY - ZULU PROVERB

Skabz and anyone else bothered by conscience,look for houses that are defaulted but not on yet reached auction stage. Then give offers to owners - at less than or equal to market price.

You can get such contacts from the bank debt collection dept, bank debt collectors,lawyers,etc.

there is no harm in participating in auctioned properties since fate has it that the would be 'owners' are not in a position to service the loans they had borrowed from banks and for one reason or the other no conscience can be forfeited for anyone's fate

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The fool folds his arms and consumes his own flesh. Better is one handful with tranquility than two with toil and a chase after wind!

no way.... unless i am buying to sell... no way i will be sitting comfy in an auction house while the displaced owner and his kin hate me to the marrow .... everyday praying for my demise.... its bad karma... buying a car is one thing... you drive away into the sunset but not property... remember this is kenya where thugs for hire are a dime a dozen... nothing the law can do about it

I would buy anything else from an auction except real estate. I can relate to @Kaigangio's concern because I too have a relative (separate gene pool! hehe) that has tried to give hell to the new owner of a house that his bank sold following loan repayment default.

I would rather pay for real estate through my nose and sleep soundly thereafter than get a rock-bottom bargain and end up with restless nights after getting caught up in the cross-hairs of a fight that has nothing to do with me or my kin.

Maybe the approach for real estate would be to buy and dispose off at a profit almost immediately (you know,the KANU thing?) assuming you bought it at a ridiculous bargain and the documentation is air tight.

my learned friends these auctions are all stage managed to get the best prices that the auctioneer can get. believe me you will not be able to bid fairly and buy a property unless you have cut a deal with the auctioneer before hand where u give him a percentage in advance to be favoured,and the balance is what you bid for. thats why the auction prices seem low,but in reality you pay more. trust me,i have been in the business for long. if you want to buy something,go and see the auctioneer first to cut a deal,then work out if its really worth the value. normally banks pass information onto their prefered clients long before the property is even advertised in the papers,and the auctioneers have already made the deals. that way the bank guy makes a cut and so does the auctioneer,and the client get his property using the same bank finance,so bank makes money also. that way everyone happy!

Hi All,we discussed this some time back,it's high time some of us together with auctioneers set up a website to sell these properties to a wider market,just like it happens in most developed countries. This way the owners would have a chance to get more,the buyers would compete fairly,the bank would get the right money and the corrupt ones would have to look somewhere else for their shady deals.

Just a thought.


Mors Tua,Vita Mea. (latin)