We do make provision for bidder unable to attend the auction event. One of our directors will accept bids via telephone and convey those to the auctioneer.In order to make a proxy bid, the buyer must complete the proxy form and send it to our offices prior to the event along with the proof of payment of the refundable registration fee. The registration will be refunded immediately after the event if the proxy bidder was unsuccessful. In case of successful proxy bid, the bidder will be required to sign the conditions of sale and pay the required deposit and commission within 24 hours of the Auction event.
Prior to buying on Auction
Auctions have been a part of society for 2500 years and in Roman times, a licensed auctioneer called a magister auctionarium drove a spear into the ground to commence the auction.The specific auction method used in South Africa is referred to as the English auction, where the highest bidder will secure the lot (in this case the FARM) at the free market price that the auctioneer knocks it for.The auction method is the most transparent way of acquiring an asset. It is also the quickest way of determining whether the asset falls within your price range. If the bidding goes beyond your capabilities, you can walk away and collect your refundable deposit on your way out.
- As an Auction Buyer you can view the property by arranging with Landhouse.
- You can download the property brochure from our website.
- You can pre-register online or you may register at the Event.
- You can acquire our conditions of sale either prior to the Event or at the Event itself. The Conditions of Sale is also attached to the Information Pack.
- It is advisable to enquire about finance options prior to the auction as the sale is not suspensive to a successful finance application.
The invitation that seller send out to the market to bid on the farm is a drastic move and the auction seller tends to be serious Sellers. The process takes place within a set timeline of roughly 4 weeks and therefore both buyer and seller can work towards a set date on which the auction take place. The registration process of properties sold on auction can be as short as 4 weeks in some cases as the sale is non-suspensive.