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MBABANE COUNCIL TO MAKE E6.5M FROM E167 000 ARREAR RATES

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 MBABANE – The Municipal Council of Mbabane stands to rake in E6.5 million from auctioning properties with arrear rates amounting to only E167 805.


 A notice of sale for the public auction of 17 properties has already been issued by the Mbabane Magistrates Court, wherein it has been stated that the auction will be conducted by a Messenger of Court for the Hhohho district, whose name has been withheld.


In the notice of sale, it has been stipulated that no bid less than E300 000 would be accepted for the recovery of rates valued at only E4 856.48 for some of the rates defaulters.


In some of the worst case scenarios for the rates defaulters, their property will go under the hammer for E1.5 million yet rates due were valued at only E11 092.


Auction


In the conditions of sale, it has been precisely mentioned that if any dispute arises about any bid of the property, it may again be put up for auction.
It was clarified that if the auctioneer makes any mistake in selling, such mistake shall not be binding on any of the parties, but may be rectified.


“If the auctioneer suspects that the bidder is unable to pay the deposit (of 10 per cent of the purchase price in cash on the day of the sale) or the balance of the purchase price, he may refuse the bid of such offer or accept it provisionally until the bidder has satisfied him that he is in a position to pay both such amounts,” reads the conditions in part.

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