Terms & Conditions

 

 

781 Rubenstein Drive, Moreleta Park, Pretoria, 0181

Po Box 50372, Moreleta Village, 0097

 

781 Rubenstein Drive, Moreleta Park, Pretoria, 0181

Po Box 50372, Moreleta Village, 0097

 

TERMS AND CONDITIONS - ON SITE AUCTION – PRIVATE

                               

 

Seller:          The auctioneer will announce the details before the auction takes place.

Address:       ON SITE AUCTION – The auctioneer will announce the property description
before the auction takes place.

Stand Size: The auctioneer will announce the size of the property before the auction takes place.

 

1.        This sale is subject to a 3-business day confirmation period starting the day after the auction was held.  During this confirmation period, the highest bidder may not revoke / retract his bid / offer.

2.        No offers will be accepted after the Auction.

 

BIDDING / BUYING REQUIREMENTS

 

REGISTRATION

 

3.        Any Prospective bidder is obliged to:

3.1    Register to bid on the auction with:

                  Proof of ID document and FICA documents (any utility bill not older than 3 months) and if a prospective bidder is bidding on

                  behalf of any legal entity, such entity’s FICA documents and mandates to bid, and

          3.2   Pay before the auction a refundable deposit of R10 000 (TEN THOUSAND RAND) to participate in such auction. Should a

 Bidder be the highest bidder and he/she is unable to meet the auction requirements in terms of payments; this deposit will be

                  forfeited.

 Deposit payments to be made to:  APOLLO ASSETS

 

                  Account name:    APOLLO ASSETS (PTY) LTD

 Bank:                   ABSA

 Branch & Code:   The Grove – 632005

 Account number: 4086186915

 

Send proof of payment to:  This email address is being protected from spambots. You need JavaScript enabled to view it.

 

PAYMENTS

 

4.        The Purchaser/highest bidder is liable/ obliged to pay:

         4.1    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. 

         4.2    The commission as stated will be refundable to the highest bidder should the Seller decline the highest bidder’s bid.

         4.3     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.

5.        The purchase price or guarantees must be delivered by the purchaser within 30 calendar days after the date of confirmation.

6.        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)

          7.     Occupation of the property will be given on Registration

          8.     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.

9.      All rates, taxes AND LEVIES will be paid up until date of Registration by the Seller.

10.   The seller will appoint the transfer attorneys.

11.   The Bond attorneys will be appointed by the Bank / Bondholder.

12.   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.

         13.   The Seller reserves the right to decline the highest bid.

14.   The Seller will be responsible to acquire a COC certificate, electrical fence certificate, gas certificate and/or a borehole

        certificate whichever is applicable.

15.    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)

16.    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.

17.    If required, the purchaser must sign an addendum which stipulates the rules of the estate