Willard Katsande at Risk of Losing Second Home in Johannesburg

Zimbabwean footballer, Willard Katsande, known for his time with the Kaizer Chiefs, faces the possibility of losing his second home in Johannesburg. In February, The South African reported that the former defender’s R2 million house was at risk. Recent reports from Zimoja reveal that Katsande’s second residence went up for auction on 25 July. However, the auction proved unsuccessful as the reserve price of R1,667,418.15 was not met.

Failed Auction and Potential New Date

The Sheriff in Krugersdorp, West Rand, had placed Katsande’s house, located at The Dunes Estates in Homes Haven Extension, for auction. As the house failed to sell, a new auction date will be decided, according to a woman named Mrs. Erasmus from Krugersdorp.

Katsande’s Response to Previous Home Repossession

In response to the news about his first home in February, Katsande had mentioned that the Gauteng High Court granted SB Guarantee Company, a subsidiary of Standard Bank, a default judgment to repossess it. Court papers disclosed that loan payments for the Boss Ya Mboko clothing brand co-owner had risen to R200,611 after missing about eight installments.

Technical Issue and Financial Management

Katsande elaborated on the situation, explaining that he was responsible for the payments of two houses. He added that he covered the R2 million Johannesburg home with extra money earned from his business. “The other payment goes out via a debit order and the other house pay via my bank app,” he said.

A technical issue with the app resulted in Katsande paying one bond twice instead of covering both. However, he claimed to have contacted the bank lawyers after receiving the summons and made the first payment at the end of January while also contributing towards the arrears.

Diversifying Income Streams

In addition to his successful career as a footballer, Katsande has ventured into entrepreneurship. As a co-owner of the Boss Ya Mboko clothing brand, he has expanded his horizons beyond the sports realm. It is essential to acknowledge the achievements of athletes like Katsande who diversify their income streams and invest their time and efforts into various ventures.

Lessons Learned and Cautionary Tale

The story of Willard Katsande’s journey from a celebrated footballer to a businessman serves as a reminder of the potential challenges and pitfalls that can accompany success. His experience demonstrates the importance of managing one’s finances wisely and maintaining clear communication with financial institutions to avoid misunderstandings that could lead to drastic consequences.

Property Market Challenges

The case of Katsande’s homes also sheds light on the property market in Johannesburg and the challenges faced by many homeowners who grapple with the pressures of managing multiple properties. As the market fluctuates, it becomes increasingly crucial to remain vigilant and ensure that all payments are up-to-date, avoiding any potential legal issues that could arise from missed payments.

In conclusion, Willard Katsande’s situation serves as a cautionary tale for current and aspiring entrepreneurs and homeowners. Maintaining a clear understanding of one’s financial obligations and ensuring that all payments are correctly managed can go a long way in preventing unpleasant surprises and ensuring a secure future.