[imagesource: Property24]

Before we take a look at this palatial Constantia home, let’s get to grips with exactly what an ‘insolvent estate’ actually is.

When a person dies, their creditors are repaid from their estate. Some debts may be covered under certain provisions such as insurance policies, but otherwise, they must be paid from the sale of estate assets.

If the total of the deceased person’s debts and liabilities is greater than the value of their assets, their estate is insolvent.

Now you know.

The insolvent estate up for grabs in Constantia will be auctioned off. They’re currently accepting offers, so you can head on over to Property24 if you want to throw your hat and cash into the ring.

Let’s take a look at this thing.

It has five bedrooms, five bathrooms, three reception rooms, a family room, dining room, lounge study, storeroom, and guest cloakroom.

A picture is worth a thousand words, so scroll on:

Then there’s the kitchen, separate laundry, three fireplaces to keep everything toasty, a pool, a wine cellar, and four garages with parking for 10 cars.

Oh, and a wine cellar. And a bar.

If you’re keen on the furniture, yes, it’s for sale. You can purchase it separately.

It first hit the market on November 10 last year, which means that they haven’t settled on the right offer yet.

The benefit of a sale such as this one is that you can often get a property for well below market value.

Just remember to factor in the cost of staff.

You have to have staff, darling, otherwise what’s the point?

[source:property24]