Please sign the below Rules of Auction and Submit.
Please create your Username / Email and Password with which you can bid on this page on the day of auction.
1) IDENTITY AND BIDDERS VERIFICATION
1.1) The following Rules of Auction ensure fair participation and a clear understanding of the property sale process. By signing this Rules of Auction document, you (the bidder) acknowledge that you have read, understood, and agreed to be held liable to all the rules set out in these clauses stated below, which will reflect on the Offer to Purchase document (OTP) document which has been attached to the bidding page.
1.1.1) Upon signature of this document, the signatory agrees that each bid they make on the date of auction will be held to the same legal standard as that of a legitimate offer on the property, and should they be the highest bidder after the auction has concluded, the auctioneer may demand immediate payment of applicable deposits.
1.2) Every prospective bidder must provide his or her positive identification, juristic registration documents, and proof of residence in terms of the Financial Intelligence Centre Act (FICA), No. 31 of 2001 published in Notice R1595 in Gazette 24176 of 20 December 2002.
1.3) All monies and deposits which are deposited in the regular trust account or business account of the auctioneer will not earn any interest.
1.4) The rules of auction need not be read out at the auction to be valid, as long as they were made available to the general public.
2) ADMISSION AND REGISTRATION
2.1) To register as and bid on the property, prospective Bidders must fill and sign the bottom of this document and upload the following documents:
A copy of the ID of the person bidding.
Proof of Residence/Address.
If bidding to buy in the name of another Person, Company or Trust, a signed letter from the Directors or Trustees giving the bidding individual permission to bid on and purchase the property in the name of the business entity.
3) TERMS AND CONDITIONS
3.1) The Purchaser/highest bidder is liable/ obliged to pay 10% buyers commission (plus VAT) on top of the purchase price. This payment must be paid by means of EFT or direct bank deposit directly after the auction. No cheques / cash will be accepted.
3.2) The commission as stated will be refundable to the highest bidder should the Seller decline the highest bidder’s bid.
3.3) In the event that the highest bidder’s bid is accepted by the seller the 10% paid by the highest bidder will become non-refundable.
3.4) The balance of the purchase price must be obtained by means of an approved bond and or cash payment which approved bond or proof of payment must be delivered by the purchaser within 30 calendar days after the date of confirmation. The Purchaser has 10 days thereafter to deliver either issued bond guarantees and/or bank guarantees.
3.5) No guarantees are given by the seller. The property is sold as is “Voetstoots”. (Section 55 of the CPA does not apply to goods sold on auction)
3.6)Occupation of the property will be given on Registration
3.7) The SELLER gives no warranty or guarantee that the PURCHASER will obtain vacant occupation of the property and the PURCHASER shall have no claim of whatsoever nature against the SELLER to obtain vacant occupation.
3.8) All rates, taxes AND LEVIES will be paid up until date of Registration by the Seller.
3.9)The seller will appoint the transfer attorneys.
3.10) The Bond attorneys will be appointed by the Bank / Bondholder.
3.11) The purchaser will, in addition to the purchase price, be responsible for the payment of transfer costs, transfer duties or value added tax whichever is applicable.
3.12) The Seller reserves the right to decline the highest bid.
3.13) The Seller will be responsible to acquire a COC certificate, electrical fence certificate, gas certificate and/or a borehole certificate whichever is applicable.
3.14) in terms of Sect 45 of the Consumer Protection Act (Act 68/2008): • This is a “Auction” as defined. • Each lot is a separate transaction. • A sale is complete when the Auctioneer announces its completion for instance: “sold, the fall of the hammer, or any other. • customary manner” • The sale is subject to a reserve or upset price. • the auctioneer reserves the right to bid on behalf of the owner (either himself or any other person on his behalf until such • reserve price is reached)
3.15) The Purchaser regards these terms and conditions as binding on he/she/its executors, Legatees, Heirs, Successors in title and or assigned respectively, as specified during the announcements irrespective of whether he/she/it is present at the time such announcements are made. Special terms and conditions relating to each auction may be announced prior to the commencement of the auction and/or during the auction.
3.16) If the Purchaser breaches any of these Conditions of Sale, he/she shall be liable to pay any cost incurred by the auctioneer because of the breach, including but not limited to administration costs and legal costs as between the attorney and own client including collection commission.
3.17) These Terms and Conditions constitute the agreement between the parties as to the subject matter hereof and no agreement, representation, or warranty between the parties other than those set out herein are binding on the parties. The parties accept these Terms and Conditions and confirm that they have read and understood all the terms and conditions contained herein and agree that they are bound hereto.
3.18) The auctioneer’s decision will be final and binding. Should the purchaser not adhere to any of the above conditions the auctioneer will reserve the right to terminate the contract and resell the property to any other person without notice. 3.19) If required, the purchaser must sign an addendum which stipulates the rules of the estate.
If you need any more information please contact our office:
leeanne@apolloassets.co.za | 010 534 5000