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. The property is sold without reserve to the highest bidder. Should the sale price be lower than the outstanding bond the bank/bondholder will have to confirm the sale. During this period the contract will still be binding to all parties and the Deposit will be non-refundable.
2. No offers will be accepted after the Auction.
3. 10% Deposit is payable strictly on day of auction by EFT only by the purchaser on the fall of the hammer on the amount achieved on auction. No cheques accepted.
4. The purchaser will pay R 10 000.00 (Plus VAT) buyers commission on the fall of the hammer price.
5. Guarantees must be delivered by the purchaser within 30 calendar days after the date of confirmation.
6. The purchaser will be held responsible to issue the electrical compliance certificate.
7. No guarantees are given by the seller. The property is sold as is “Voetstoots”.
8. Occupation of the property will be given on the date of registration unless otherwise agreed between buyer and seller in writing.
9. If occupation does not coincide with the registration the purchaser will pay 0,8% occupational interest.
10. The SELLER however, gives no warranty or guarantee that the PURCHASER will obtain vacant occupation of the property on the date provided and the PURCHASER shall have no claim of whatsoever nature against the SELLER.
11. Ownership will be given to the PURCHASER on transfer of the property in his/her name.
12. All rates and taxes will be paid up until date of Registration by the Seller.
13. The purchaser will not be entitled to make any alterations, improvements or additions to the property before the date of registration of the transfer.
14. The seller will appoint the transfer attorneys.
15. The Bond attorneys will be appointed by the Bank / Bondholder.
16. The purchaser will, in addition to the purchase price, be responsible for the payment of value added tax (VAT) should the Seller be a registered VAT vendor.
17. The auctioneer’s decision will be final and binding.
18. Should the purchaser not adhere to any of the above conditions the auctioneer will reserve the right to terminate the contract.