Auction Format: Timed Auction
Multi Property Auction 29 July 2021
This Auction will take the form of a Timed Online Auction strarting at 12:00PM on 29 July 2021 and will run until 10:00AM on August 26 when it will be converted into a Virtual Live Auction. Bidders can register and bid on the timed auction and their bids will be carried over to the live auction on the 26th of August.
Auction Format: Timed Auction with Staggerd Closing Times. Lots will close in 2 minute intervals starting from 10:00 am on Thursday 29 July 2021. A 2 minute extention rule apply to this auction. Any bid placed within 2 minutes of the closing time will reset the closing time of that lot to 2 minutes.
Buyers Commission: 10% (Ten) over and above the bid price on auction payable by the Purchaser immediately after the auction.
Registration Fee: R50 000 payable prior to the auction via EFT or bank guaranteed cheque (refundable fee)
Deposit: A deposit of 5%(five percent) of the Purchase Price payable to the AUCTIONEER by the PURCHASER immediately after the fall of the hammer.
Confirmation Period: 7 days
Registration Contact: Safiya Bowes-Moosa
Property Contact: Property broker is listed with each property. Please make aranagement with the broker to view the property before the auction.