COMMERCIAL PROPERTY PRETORIA NORTH
Insolvent Estate: Derek’s Boerewors and Pie Mecca CC
VIEW OFFER TO PURCHASE
FOR MORE INFORMATION AND VIEWING PLEASE CONTACT:
Francois Mulder 0827417904 firstname.lastname@example.org
For viewing please contact Francois Mulder
For information regarding Online Bidding, please contact
Micaela - 063 294 9844 or email@example.com
Vat: All bids exclude VAT at 15%,
• 6% SELLERS Commission
• R50 000 Bidding deposit
• 10% deposit required on Purchase Price from the Successful highest bidder on signing the offer
• Formal Offer of Purchase to be signed by highest bidder
• Property including the Improvements and Equipment will be sold as one lot
• Opening date for Auction 1 December 2020
• Closing date For Auction 3 December 2020
A) Rules of Auction
1.Auction with Reserve means that the property will be sold to the highest bidder but subject to confirmation by the Seller who has 30 days to accept or reject the offer.
2. The conduct of the auction is subject to the control of the Auctioneer who has the sole right to regulate the bidding procedure.
3. Auctions commence at 11h00 unless otherwise advertised and will not be delayed
4. A prospective bidder cannot participate in the bidding process if not registered as a bidder. The registration process includes (i) registration of the prospective bidder’s identity, (ii) residential address, (iii) contact details, (iv) payment of R50 000 registration fee
5. All registered bidders must (i) thoroughly inspect the property and/or goods and (ii) read the offer to purchase (“the Sales Contract”) before the bidding starts and must not bid unless he or she has done so.
6. We are selling per rising bid in South African Rand.
7. The Insolvent Estate is Registered for Vat and will be added to the bid price
8. Any error by the Auctioneer shall be entitled to be corrected by him/her.
9. A person who bids on the auction to bid on behalf of another person, must produce a letter of authority that expressly authorises him/her to bid on behalf of that person. Where a person is bidding on behalf of a company, the letter of authority must appear on the letterhead of the company and must be accompanied by a certified copy of the resolution authorising him or her to bid on behalf of the company.
10. In the event of any dispute between the bidders, the decision of the Auctioneer shall be final and binding.
11. The Purchaser shall not be held liable for any arrears unless otherwise stipulated in the Sales Contract.
12. Every bid shall constitute an offer to purchase the property for the amount bid, which the Seller or the Auctioneer may accept or reject in their absolute discretion. The Seller and the Auctioneer are entitled to withdraw the property from sale prior to acceptance by the Seller.
13. The highest bidder ("the Purchaser") shall sign the Sales Contract immediately on close of the Auction
14. If no bid equals or exceeds the reserve price, the property may be withdrawn from the auction. The Seller shall be entitled to instruct the auctioneer to accept any lower bid.
15. The Seller has 30 days (“the Confirmation Period”) to accept or reject the offer. No bid may be withdrawn after the fall of the hammer until the expiry of the Confirmation Period. During this time the offer shall be open for acceptance by the Seller or his agent and if the offer is accepted, the sale shall be deemed to be a sale by auction for purposes of the Act.
16. The Purchaser’s offer shall remain open for acceptance by the Seller or by the Auctioneer on behalf of the seller, until expiry of the confirmation period. The Purchaser and the Auctioneer acknowledge and agree that this provision is for the benefit of the Seller.
17. The Purchaser’s offer shall be deemed to have been accepted only when the Seller, has signed the Sales Contract on behalf of the Seller
18. Should the Seller reject the Purchaser’s offer, the Auctioneer will repay to the purchaser any deposit and commission paid to it in terms of the Sales Contract within a reasonable time.
19. In the event of the sale requiring the consent of any statutory authority or any court of law, then this auction sale is subject to the granting of such consent.
DISCLAIMER: Whilst all reasonable care has been taken to provide accurate information, neither Auctions Extreme nor the Seller/s guarantee the correctness of the information, provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by an person as a result of errors or omissions in the information provided, whether due to the negligence or otherwise of Property Auction House or the Seller/s or any other person. Bidders must register to bid and provide original proof of identity and residence on registration.
Registration Deposit – R50 000
Account Name: Ikapa Express Auctioneers
Reference: Name & Surname
Mail proof of payment to firstname.lastname@example.org
If purchasing in your personal capacity, a copy of ID and recent (not older than 3 months) proof of -residence is required
If purchasing in your company name a copy of company registration form CM1 or CK1, CM46, CM9, a utility bill & CM29 or Resolution from company authorising representative to bid is required.
If purchasing where the person is not a RSA citizen, a copy of passport and proof of residence if living in RSA is required.
1. If there is a dispute between two or more bidders, the lot maybe put up for sale again or the auctioneer may declare the purchaser. The decision of the auctioneer is final.
2. If the bidder is successful, an automatically generated system email notification will be sent to him/her confirming that he/she is the highest bidder. This is not final confirmation. The sale of the lot is only confirmed on email from The Auctioneer.
3. Withdrawal of Bids. Any bidder wishing to withdraw his/her bid may do so before the fall of the hammer, which is once a particular lot closes on an online auction. Withdrawal of a bid must be done in writing and a bid will only be deemed withdrawn upon receipt of written confirmation by the Auctioneer.
4. The Auctioneer accepts no responsibility for any interruption in internet connection resulting in the bidder being disconnected from the live auction, be it the bidder's or Auctioneer's internet connection interruption for any reason.
5. While the auction is scheduled to close at a predetermined time. Lots have their own specific closing times. It is the bidders responsibility to make him/herself aware of these times. There are 2 online auction functions that effect the closing time of lots
a. Sniping - “extended bidding” process to close all of our auctions. If a bidder places a bid within 2 minutes of the auction close, the auction will continue for any lots that have multiple bids until there are no bids placed on any lots in the auction in a 2 minute time frame. You MUST place a bid on the lot in order to bid in extended bidding. Any lots with only one bid will close at the beginning of extended bidding.
b. Staggering: At the scheduled closing date and time of a sale, lots will begin to close one lot at a time with one (1) minute between each lot closing. For example lot 100 will close 100 minutes after the start of the auction close.
6. The Auctioneer reserves the right to deny any person for any reason permission or access to bid online.
7. The Auctioneer reserves the right to extend bidding should there be an issue with the system.