Tanzania Foreclosure Real Estate Listings

Where Is Tanzania? Tanzania is a country located in East Africa, and situated on the coast of the Indian Ocean, with borders to Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of Congo to the west, Zambia, Malawi, and Mozambique to the south.

The mainland of Tanzania also includes the world famous Mount Kilimanjaro, Africa's highest mountain, while the islands of Zanzibar, popular tourist destinations lie a short distance off of the coastline.

In Tanzania the major cities of note include Dar es Salaam, which is the largest city and economic center of Tanzania, Dodoma which is the official capital of Tanzania, Arusha a major tourism center, and Mwanza on Lake Victoria.

Foreclosure real estate in Tanzania refers to properties that are being sold because the owner has defaulted on their mortgage, and have stopped making loan payments. Once this occurs, the lender, often a Bank, then starts a legal process to repossess and sell the property to recover the unpaid loan balance.

Foreclosure is a legal process where a lender takes ownership of a property after the borrower fails to make mortgage or loan payments.

Properties that didn't sell at a foreclosure auction, and are then owned by the bank or lender, known as REO (Real Estate Owned).

If the the owner is behind on payments, this is called pre-foreclosure, but the property hasn't been taken back yet, but the property could be sold as a short sale through a real estate agent.

Properties that are up for 'Auction' are sold at a public auction, and to the highest bidder during the Auction procedure.


Then, if the property doesn't sell at auction, it then becomes "real estate owned" by the lender, usually again a bank which leads to the property being sold through Real Estate Agents.

Investors and individual private buyers look at foreclosures for many reasons including that the property is often below market value, could be flipped or rented out for profit, or the property can if required be renovated to increase the value.

Tanzania foreclosure real estate listings can can come with benefits and risks to the real estate investor, and are usually sold as seen, and could come with a situation where the purchase need repairs.

Also, the foreclosure process can involve more paperwork, there may be title issues, unpaid liens, plus foreclosures (like auctions) often require full payment on purchase.