The High St Auction Co
Multi Property Auctions
Rules of Auction
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If a Company or Close Corporation
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Please select Auction
9 June 2020,Virtual Online Auction
14 June 2020,Online Auction
9 July 2020,Virtual Online Auction
6 August 2020,Virtual Online Auction
17 September 2020,Summer Place, 69 Melville Road, Hyde Park
15 October 2020,Summer Place, 69 Melville Road, Hyde Park
4 November 2020,Summer Place, 69 Melville Road, Hyde Park
26 November 2020,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.
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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, the rules of auction; and has complied with FICA requirements i.e. provided 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; The Auctioneer’s conditions of sale agreements can be downloaded or viewed online, , and in the case of a traditional auction, copies will be made available at the auction on request.
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 where applicable, 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. The signatory acknowledges that in the event of the Auctioneer declaring a bid to have been knocked down, such declaration shall be deemed to constitute the fall of the hammer and the bidder shall be liable for performance.
10.The bidder acknowledges that it was afforded a reasonable period of time and opportunity to inspect the Property prior to the commencement of the auction as contemplated in terms of Regulation 28(5)(b) of the CPA, which inspection the Auctioneer facilitated t either electronically or in the traditional manner (physical inspection), pursuant to the applicable laws in place at such time.
11.The bidder further acknowledges that he/she has viewed the property and that he/she has ascertained the state of the property, pursuant to having been provided with a complete tour (either virtually/electronically, alternatively physically – having regard to the prevailing legislation) of the property and is satisfied that he / she has exercised his / her right to inspect the property prior to the commencement of the auction.
The following provisions (clauses 12-14) are only applicable to auctions conducted by way of electronic/virtual means:
12.The Auctioneer will take all reasonable steps to comply with the requirements of a virtual/electronic auction but it cannot be held liable for any damage (direct or indirect) insofar as it may be found that any such damage has been suffered by the bidder as a result of any non-compliance with these requirements and neither the AGENT’s negligence nor gross negligence shall found such a claim.
13.The Parties acknowledge that the auction will be conducted in accordance with Regulation 30 to the CPA and that the auction will meet all the requirements of auction sales duly amended so as to apply to a virtual/electronic platform to wit:
13.1 The relevant platform has been available to anyone over the age of 18 years;
13.2 The platform provides industry level standards of security for electronic transactions;
13.3 The platform provides for easy access to all records prescribed in the Regulations in a generally used or accepted medium or format;
14.The Auctioneer may require the execution of documents to be performed by means of electronic signature and/or contemporaneous remote viewing together with the exchange of documents to be performed by electronic means (such as scanning and emailing).
Whilst reasonable precautions have been taken in compiling the information contained in this document, neither the seller nor the Auctioneer shall be liable for any loss, damage or expense whatsoever or howsoever caused, arising from reliance on any information provided, nor do they guarantee the completeness or accuracy thereof, the duty at all times resting on the Purchaser to conduct its own due diligence inspections relating to the property/ies referred to herein in order to verify the information reflected, and the purchaser’s participation in any auction or private treaty sale based upon such information shall be entirely at its own risk and in acceptance of the aforegoing.
The Auctioneer will take all reasonable steps to comply with the legal requirements of an auction (whether virtually/electronically, and/or a physical auction) but it cannot be held liable for any damage (direct or indirect) insofar as it may be found that any such damage has been suffered by any party as a result of any non-compliance with these requirements.
The Purchaser or the bidder (on behalf of the Purchaser) acknowledges that it was afforded a reasonable and sufficient period of time and opportunity to inspect the Property prior to the commencement of the auction as contemplated in terms of Regulation 28(5)(b) of the CPA, which inspection the Auctioneer provided either electronically as a virtual/electronic tour (or a traditional/physical inspection) due to the laws currently in place.
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