The High St Auction Co
Multi Property Auctions
Rules of Auction
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* First Name
* ID Number
Juristic Entity Name
Married out of community of property
Married in community of property
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If a Company or Close Corporation
Annual turnover is
Less than R2,000,000
Asset value is
Less than R2,000,000
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3 October 2019,Summer Place, 69 Melville Road, Hyde Park
31 October 2019,Summer Place, 69 Melville Road, Hyde Park
28 November 2019,Summer Place, 69 Melville Road, Hyde Park
Property / Movable
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How will you be paying your registration deposit? (A registration fee is applicable. Please see the relevant property investor pack to find out what the registration fee is.)
In the event that a cash deposit is made, the Depositor will be liable for the bank charges relating to that transaction.
Bank Guaranteed Cheque
Kindly use your name and surname as a reference when making deposits into our account.
Branch: Melrose Arch 254405
Acc No: 62286710770
Name: The High Street Auction Company (Pty) Ltd
Please bring the following to the auction:
1. Proof of payment
2. Copy of ID
3. Proof of residence
4. Letter of authority to sign on behalf of a juristic authority
Bidding Terms & Conditions
1.Acknowledges and understands that he/she shall not be entitled to bid until such time as the Auctioneer's registration fee has been paid or secured to the Auctioneer's satisfaction, this registration fee is refundable should he/she not be the highest bidder. The signatory further acknowledges that in the event that the signatory is the successful bidder, the registration fee will be allocated against the signatory's payment obligations in terms of the Offer to Purchase to be executed by the Signatory pursuant to the auction.
2.Acknowledges himself/herself to have read, understood and be bound by the Auctioneer's terms and conditions of auction; and has complied with FICA requirements i.e. brought a copy of his/her ID book, proof of residence and letter of authority to sign on behalf of a juristic entity.
3.Acknowledges and understands that, in respect of lots subject to a reserve, should his/her bid be knocked down as the highest bid in respect of any lot bid upon, such bid shall constitute an irrevocable offer to purchase the relevant lot at such price, which offer shall remain open for acceptance by the seller of the lot for a period of 5 business days or as specified in the conditions of sale.
4.Acknowledges and understands that, in respect of lots not subject to a reserve, should his/her bid be knocked down as the highest bid in respect of any lot bid upon, then such lot shall be deemed to have been sold to the bidder at such bid.
5.Acknowledges and understands that any sale of immovable property by way of public auction shall be binding on the bidder, and does not need to be recorded in a written agreement, in accordance with the provisions of Section 3(1) of the Alienation of Land Act 68 of 1981.
6.Acknowledges and understands, notwithstanding the contents of paragraph 4 above, that should his/her bid be the highest bid on any lot, he/she will then be obligated to sign the Auctioneer's conditions of sale by public auction, which agreement cannot be amended in any way and the bidder acknowledges to have acquainted himself/herself therewith.
7.Acknowledges that, should his/her bid be knocked down as the highest bid in respect of any lot bid upon, a buyer`s premium of 10% plus VAT shall be payable over and above the bid price, unless otherwise stated.
8.Warrants, in the event that he/she is bidding on behalf of another person/company/close corporation or trust, that he/she has all necessary authority to do so and to bind such party to any consequent sale, and will produce written proof of such authority upon request.
9.Acknowledges that in the event of allowing the paddle allocated to the bidder to be used by any other bidder whether registered or not, shall remain liable for performance.
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