Auction Documents
Summary of the purchaser’s financial obligations & rights regarding a sale in execution of IMMOVABLE PROPERTY.
Obligations & Rights
Payments to the Sheriff
- Conditional, refundable registration R45 000.00 fee.
- 10% of the purchase price as deposit.
- Commission maximum R40 000.00 (Vat Excluded)
- Balance purchase price & interest by way of guarantee or EFT.
Payments to the transferring attorneys
- Transfer costs.
- Bond costs.
- Transfer duty or VAT which ever applicable, rates, taxes & levies, if applicable.
Own responsibility
- Insure property for full value.
- Insurance policy must be kept available for the sheriff and/or plaintiff’s attorney and/of conveyancer.
Rights
- Possession after payment of deposit & commission.
- Ejectment of occupiers on own cost, if necessary.
- Prompt registration of property in transferee’s name.
Downloadable Documents
Pro Forma Conditions of Registration Movable Property
Pro Forma Conditions of Auction
Pro Forma Conditions of Sale – Fixed Property
Pro Forma Rules of Auction Movable Property & Immovable Property
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