Judge criticises Nedbank for pursuing home auction despite higher private offer
A Mitchells Plain home valued at R699 000 attracted an auction bid of just R401 000, despite the owners having secured a private buyer willing to pay R650 000.
Nedbank acted unreasonably by proceeding with the public auction of a Cape Town home when its owners had already found a private buyer willing to pay nearly R250 000 more, the Western Cape High Court has ruled.
The house was put on public auction in May 2025 after Nedbank had earlier secured a default judgment – where no defence is raised – for R782 537.
