Gupta house in Saxonwold auctioned for R2.6m

[surface]

Something stinks in the kingdom of gupta-tu. Mere 2.6M for a 1000m2 house in Saxonwold? Try getting a 800m2 stand in waterfall for that amount.

WATCH | Gupta house in Saxonwold auctioned for R2.6m

A Gupta-owned house in highly sought-after Saxonwold in Johannesburg was sold for R2.6m on Monday.

www.timeslive.co.za

 

[Scooby_Doo]

The property was more than likely auctioned off with any outstanding taxes due on the property becoming the responsibility of the new owner.

 

[ponder]

The property was more than likely auctioned off with any outstanding taxes due on the property becoming the responsibility of the new owner.

I thought new property owners were not liable for historical debt of previous owners as per the constitutional court ruling in Jordaan and Others v City of Tshwane Metropolitan Municipality and Others (CC) (unreported case no CCT283/16, 293/16 and 294/16, 29-8-2017)?

 

[surface]

I thought new property owners were not liable for historical debt of previous owners as per the constitutional court ruling in Jordaan and Others v City of Tshwane Metropolitan Municipality and Others (CC) (unreported case no CCT283/16, 293/16 and 294/16, 29-8-2017)?

Great find. I wonder if there is loophole in this.

 

[Mila]

That little? Is that what it is worth?

 

[ToxicBunny]

That little? Is that what it is worth?

Probably a lot less given that the house probably needs serious amounts of work...

The pool is probably wrecked, and there is a damp issue which may cost serious cash to resolve, and it speaks to a general lack of maintenance which may mean the inside is trashed as well.

 

[Temujin]

Probably a lot less given that the house probably needs serious amounts of work...

The pool is probably wrecked, and there is a damp issue which may cost serious cash to resolve, and it speaks to a general lack of maintenance which may mean the inside is trashed as well.

Thats from JZ bellyflops... surprised it got so much... I'd burn it to the ground... I wouldn't go anywhere near it even if you gave it to me... think of all the times JZs been showering in there after 'meetings', and the 'meetings' themselves

 

[Mila]

eish. I can imagine if your are such a rotten person it probably shows in your things as well

 

[R13...]

Probably a lot less given that the house probably needs serious amounts of work...

The pool is probably wrecked, and there is a damp issue which may cost serious cash to resolve, and it speaks to a general lack of maintenance which may mean the inside is trashed as well.

It is still being basically given away.

Check out some vacant land prices in the suburb. The R10.5m once look like a mislabeling but the property sizes tell a tale. Okay, maybe not a mislabel.

Plots and vacant land for sale in Saxonwold : Property24.com

Vacant land / plots for sale in Saxonwold. The largest selection of apartments, flats, farms, repossessed property, private property and houses for sale in Saxonwold by estate agents. Property24.com

www.property24.com

 

[surface]

Probably a lot less given that the house probably needs serious amounts of work...

The pool is probably wrecked, and there is a damp issue which may cost serious cash to resolve, and it speaks to a general lack of maintenance which may mean the inside is trashed as well.

Are you guessing all this or is there a source?

 

[Mila]

It is still being basically given away.

Check out some vacant land prices in the suburb. The R10.5m once look like a mislabeling but the property sizes tell a tale. Okay, maybe not a mislabel.

Plots and vacant land for sale in Saxonwold : Property24.com

Vacant land / plots for sale in Saxonwold. The largest selection of apartments, flats, farms, repossessed property, private property and houses for sale in Saxonwold by estate agents. Property24.com

www.property24.com

 

[ToxicBunny]

Are you guessing all this or is there a source?

Mostly guessing, cos its fun that way

But I had a look at the video, there are some concerning markers on the property which would make me want to dig much deeper before I'd consider putting money into the property.

The wooden floor being damaged could indicate rot, which would cost a ridiculous sum to repair.
There is damp on the exterior of the house which would need to be investigated.

Personally the decor is just very fugly, so the house needs to be renovated from that point of view.

Granted I wouldn't necessarily knock millions off the price for those, but it would still knock a significant chunk off what I would think its worth.

 

[surface]

It is still being basically given away.

Check out some vacant land prices in the suburb. The R10.5m once look like a mislabeling but the property sizes tell a tale. Okay, maybe not a mislabel.

Plots and vacant land for sale in Saxonwold : Property24.com

Vacant land / plots for sale in Saxonwold. The largest selection of apartments, flats, farms, repossessed property, private property and houses for sale in Saxonwold by estate agents. Property24.com

www.property24.com

Exactly, saxonwold is a prime location. I suspect there is some underhanded deal even in this auction. There is no way a 1100m2 property in saxonwold will sell at 2.6 M. Dilapidated properties on that size of land in Midrand go for 1.8M

 

[ponder]

I wonder if there is loophole in this.

Nope.

 

[Mystic Twilight]

The property was more than likely auctioned off with any outstanding taxes due on the property becoming the responsibility of the new owner.

Won't be, part of the deal for any auction due to sequestration would be for the buyers to settle the outstanding taxes, etc. Outstanding amounts probably not part of the auction price because of tax on the auction amount itself, otherwise you end up paying tax on top of the tax already charged for the tax being levied.

 

[Scooby_Doo]

Won't be, part of the deal for any auction due to sequestration would be for the buyers to settle the outstanding taxes, etc. Outstanding amounts probably not part of the auction price because of tax on the auction amount itself, otherwise you end up paying tax on top of the tax already charged for the tax being levied.

That's why the property was sold relatively cheaply. The people bidding took the outstanding taxes into account .

 

[Binary_Bark]

Is that dilapidated collection of bricks even worth that much?

 

[surface]

That's why the property was sold relatively cheaply. The people bidding took the outstanding taxes into account .

@ponder has already cited some constitutional judgement about this. I found this one.

Concourt rules new homeowners not liable for debts of previous owners | The Citizen

The highest court in SA has found against municipalities for wanting to make people cough up for debts that aren't theirs.

citizen.co.za

 

[xrapidx]

Why am I not surprised at the state of the house.

 

[surface]

Why am I not surprised at the state of the house.

Please share video/photo location if you can. Thanks.