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
If a Company or Close Corporation
Annual turnover is
Less than R2,000,000
Asset value is
Less than R2,000,000
Property / Movable
109510 - Fund Instruction - ABSA Gezina - Suburb: Gezina
109513 - Residential Block - Theeres Court - Suburb: Rosettenville
109303 - Mooi River Mall - Suburb: Mooi River
109524 - Upmarket 3 Storey Office Block - Suburb: Sunninghill
109528 - 3 Bedroom Unit in Elands Rock Nature Estate - Suburb: Elandspark
109520 - Distressed Sale - The Pearls of Umhlanga Unit - Suburb: Umhlanga Rocks
108017 - Riverview Shopping Centre - Suburb: Wilgeheuwel
107520B - Residential Property - Suburb: Deneysville
109514 - Residential Block - Hugo Court - Suburb: Rosettenville
109522 - Listed Fund Instruction - Warehouse & Offices - Suburb: Midrand
109506 - 2 Industrial Investment Opportunities - Suburb: Boksburg East
109504 - Mixed-Use Building - Cape Town Central - Suburb: Cape Town Central
109518 - Secure Large Family Home - Suburb: North Riding AH
109511 - Residential Block - Bentley Court - Suburb: Rosettenville
109515 - Duplex Waterfront Apartment - Suburb: Durban Point Waterfront
109502 - Tenanted Office Unit - 3 Year Lease - Suburb: Broadacres
109519 - Hijacked Building - Calverly House - Suburb: Malvern
109512 - Residential Block - Trojan Court - Suburb: Rosettenville
109521 - Standard Bank - Springs - Suburb: Springs
109508 - ABSA Building - Suburb: Nigel
109505 - Modern Designer Home - Camps Bay - Suburb: Camps Bay
103411 - Vacant Industrial Factory - Suburb: Roodepoort
109516 - Retail & Student Accommodation Potential - Suburb: Westdene
109526 - Large 4 Bedroom Home / Office with Flat - Suburb: Bedfordview
109507 - Tenanted Commercial Building - Suburb: Durban
109523 - Warehouses & Offices - Suburb: Spartan
109420 - Secure 5 Bedroom Cluster - Suburb: Bryanston Ext 66
109527 - Large 4 Bedroom Home with Flat - Suburb: Three Rivers
109509 - Fund Instruction - Retail Centre - Suburb: Klerksdorp
M0020 - 3 Bed Family Home - Urgent Sale - Suburb: Discovery
109517 - 5 Bedroom House in Bryanston - Suburb: Bryanston
109525 - Industrial Facility with Large Concrete Yard - Suburb: Germiston
109503 - Tenanted A-Grade Office Unit - Suburb: Fourways Ext 45
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.
Bank: ABSA Bank
Internet Code: 632005
Acc No: 40 7745 3195
Name: Leo Auctioneers Trust Account
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. Undertakes to pay directly after the Auction, the amount due by me/us for the movable assets bought by myself/ ourselves, by means of electronic transfer (EFT) to Leo Auctioneers (Gauteng) Trust Account as stipulated in the Conditions of Sale printed below.
7. Hereby binds myself/ourselves jointly and severally as surety/ies in solidum as co-debtor/s with the Buyer, for the due performance by the Buyer in terms of the provisions of the Conditions of Sale.
8. Understands that my/ our obligations towards the Seller and the Auctioneer, in terms of the Conditions of Sale, will continue until the Buyer’s obligations in terms of the Conditions of Sale, pertaining to this sale, have ended;
9. Understands that my/our liability in terms hereof, shall not be effected, prejudiced or vitiated by any extension or concession made by the Seller or the Auctioneer, pertaining to my/our obligations as set out in the Conditions of Sale, as stated below and on the reverse side hereof and which Conditions of Sale is herewith accepted, by me/us.
10. 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.
11. 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.
12. Registration Fee - Please note a registration fee is applicable. Please check the relevant catalogue to confirm what the registration fee is.
13. All goods as numbered in lots or as pointed out by the Auctioneer will be sold to the highest Bidder, either without reserve or subject to confirmation after the Auction.
14. The Auctioneer is not obliged to disclose the reserve price of goods, which are sold subject to a reserve, to the bidders on the Auction. The Auctioneer is only obliged to point out the lots which are subject to a reserve.
15. Payment to be made immediately after the sale by means of a Bank cheque or Electronic Bank Transfer (EFT). The auctioneer will not be obliged to accept any other mode of payment, other, that stipulated herein and the goods remain the property of the seller until full payment (plus VAT if applicable) has been received.
16. All goods are sold "voetstoots" in whatever condition they may be, by the acceptance of a bid and no guarantee whatsoever is given. Goods are delivered "voetstoots" at the advertised address.
17. Descriptions and information in advertisements, catalogues or given verbally are given in good faith and no guarantee, whatsoever is given by the Seller or the auctioneer, as to the condition of the goods put up for auction.
18. The auctioneer and the seller does not hold themselves responsible for any errors of description, quality or quantity. A bid shall be taken as proof that the bidder (buyer) has acquainted himself/herself with the lot for which he/she bids on.
19. All lots knocked down, immediately become the responsibility of the purchaser and the auctioneer, owner or his agent cannot be held responsible for any goods that may be lost, damaged or stolen.
20. ln the event of a-dispute arising about any bid, the Auctioneer may use his discretion and put the lot up again for auction. His decision as well as the Vendu Roll of sale will be regarded as final in all instances.
21. No goods may be removed during the time of the sale and must be paid for in full before removed from the premises and the buyer must be in possession of an official invoice (issued by the auctioneer) with the wording "Paid" as proof that the buyer may remove the goods bought and paid for.
22. Goods to be auctioned will be at the discretion of the Auctioneer and he reserves the right to combine, divide or withdraw any lot.
23. The Auctioneer reserves the right to regulate the bidding, to refuse any bid, to withdraw any lot or lots from the auction and /or to stop the sale of all the lots all together and should the Auctioneer commit any mistake at the sale, such mistake shall not be binding on any party but shall be rectified immediately, after establishing such mistake.
24. Removal of goods bought by the buyer will be the responsibility of the buyer and the buyer will also be held responsible for any damage to the building/s or any other item while removing and or dismantling of goods bought by the buyer.
25. lf the buyer fails to carry out any of the obligations under the Conditions of Sale and payment in full is not received within 24 hours of the auction, the auctioneer will have the right to cancel the sale and the goods may again be put up for sale. The bidder in default will forfeit the deposit paid and any shortfall incurred on the second sale of the Lots will be claimed from the bidder in default.
26. The bid price, per item, will be subject to VAT and 10% Buyer's commission plus VAT, as announced by the Auctioneer and VAT (if applicable) will be levied by the auctioneer and paid by the buyer.
27. The buyer, with his/her signature hereof, undertakes to comply to and adhere to all the rules, terms and conditions of the auction and will not conspire with other bidders (buyers) to form a "ring" or "club" to manipulate or force the prices of goods down, to the detriment of the seller.
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