General rules of the Sheriff’s auctions –
Conditions for participating in an auction for immovable property:
Registration must be completed with the auctioneer (the Sheriff) at the place of auction by providing him/her with the following:
- A refundable registration fee of ten thousand rand. (Please contact our offices for banking details.)
- A copy of your Identity Document/company registration documents.
- If you are purchasing on behalf of a Company, CC or Third Party, you must supply consent from the respective Company, CC or Third Party. Consent may be given in the form of a written letter of authority (Power of Attorney and/or resolution from its members) that expressly authorizes the representative to bid in its stead. In the case of a Company, the letter of authority must appear on the letterhead of the said Company and must be accompanied by a certified copy of the resolution authorising such representative to bid. If you are buying on behalf of a Third Party, you will need a Special Power of Attorney in which the property in question is explicitly mentioned. The Special Power of Attorney must be signed by two witnesses and the amount up to which the representative may bid must be clearly indicated.
- Proof of address.
IF YOUR BID IS SUCCESSFUL –
A 10% deposit as well as the Sheriff’s commission is to be paid immediately after the sale. If this has not been paid, the property will be resold and the difference in commission, if any, will be deducted from your registration fee.
THE REGISTRATION FEE WILL BE REFUNDED WITHIN 5 WORKING DAYS OF IT APPEARING IN THE SHERIFF’S BANK ACCOUNT.
SHERIFF’S COMMISSION –
The purchaser shall immediately on demand pay the Sheriff’s commission calculated as follows:
- 6% on the first R100 000.00, and
- 3.5% on R100 001.00 to R400 000.00, and
- 1.5% on the balance of the proceeds of the sale (subject to a maximum commission of R40 000.00, plus VAT, in total and a minimum of R3 000.00, plus VAT, (inclusive of all the Sheriff’s bank charges and other expenses incurred in paying the proceeds into his/her trust account).
The balance of the purchase price shall be paid to the Sheriff against transfer and shall be secured by a Bank Guarantee, to be approved by the Sheriff within 21 days after the date of sale.
Should the Purchaser fail to furnish the Sheriff with a Bank Guarantee within the said 21 days after the date of sale, the Sheriff may in his/her sole discretion grant the Purchaser a 5-day extension period within which to provide same.
Should the Purchaser still fail to furnish the Sheriff with a Bank Guarantee within the necessary time period, as approved by the execution Creditor’s Attorney, the sale may be cancelled.
If married in Community of Property, the Purchaser must furnish the Sheriff with written consent of the other spouse, as required ito Section 15(1)(g) of the Matrimonial Property Act 88 of 1984, within 48 hours of the signature of the Conditions of Sale.
The purchaser must evict the occupants at his/her own cost.
08 JUNE 2023: 10H00 @ NO. 1 FIRST STREET CULLINAN
| 1) 54406/2020 FRB// ELLISTON ERF 76 SABLE HILLS WATERFRONT ESTATE ****** RESERVE PRICE R 1 300 000.00 | ||
2) 14766/2020 FRB//MP KABANI ERF 208 MAHUBE VALLEY X1 aka 2 REV H MONONYANE STREET MAHUBE VALLEY ******* RESERVE PRICE RNIL | ||
| 3) 28407/21 CHANGING TIDES 17(PTY)LTD//MATHETA ERF 3592 GEM VALLEY EXT.3 aka 3592 LINWAZHIVHA STREET GEM VALLEY EXT.3 .******** RESERVE PRICE R 401 520.95 | ||
| 4) 34372/22 NEDBANK// NAZIA MOERAT N.O EXECUTRIX LATE ESTATE BA ZWANE REMAINING EXTENT OF PTN 65(PTN OF PTN 3) OF THE FARM DERDEPOORT RESERVE PRICE R400000.00 | ||
Conditions for participating in an auction for movable property:
- All goods are sold for Cash/EFT.
- No goods may be removed without payment in full.
- The price of goods exclude VAT and each bid will attract VAT.
- The goods are sold “as is” , “voetstoets”, without guarantee.
- Bidders must register prior to the auction.