Execution Sales-Immovable Property
{Held without prejudice}
Summary
of Conditions of
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Please note: These immovable property sales are sales in execution. The property cannot be viewed by entering the property before the sale as you will be invading the privacy of the debtor. The only person allowed on the property, without the permission of the occupier, is the Sheriff or legally appointed Deputy Sheriff. Do not confuse an execution sale with an insolvency sale where viewing is allowed.
> Prospective buyers have to register before the sale and pay a refundable cash deposit of R2 000. In terms of the new CPA Act every prospective purchaser must be FICA’D, so please ensure that you have your ID document and proof of recidence with you, otherwise you will not be allowed to bid.
> The Purchaser must pay a deposit equal to 10% of the purchase price as well as the sheriff/auctioneer commission in cash, immediate internet bank transfer into the sheriffs’ trust account or a bank guaranteed cheque, immediately on closing of the bid, failing which the property will be put up for sale again.
Facilities exist at the sales office for immediate electronic bank transfers, but NOT at premises sales.
> The sheriff's commission is calculated as follows: 6% on the first R30 000 plus 3.5% of the amount exceeding R30 000 up to a maximum of R8 750, before V.A.T.
> The balance of the purchase price, together with interest, must be guaranteed within 14 to 21 days, depending on the relevant conditions of sale.
> Interest is payable on the purchase price from the date of purchase to date of registration of transfer, both days inclusive, at the ruling rate of interest.
> The purchaser is responsible for the payment of the outstanding rates and/or levies.
> If the debtor is registered in terms of the V.A.T Act, V.A.T (but no transfer duty ) is payable on the purchase price.
> The Purchaser is responsible for the ejectment of the occupier, if any.
NB! No purchaser will be allowed to leave the
premises to collect a cheque or cash for the payment of the deposit and the
commission. If such a request is received the property will be auctioned again.
In the event of there being
more than one purchaser, all the purchasers have
to sign the Conditions of Sale immediately.
(Note 1: Detailed conditions of sale will be announced at the sale and
may be perused during office hours prior to the sale, at the office of the Sandton
sheriff.).
(Note 2: The sale of a property may be cancelled by the
bondholder/plaintiff at any time before the sale without
Kindly
refrain from contacting the sheriff for reasons why a sale was cancelled.
"Only Bank Guaranteed
cheques, Electronic Transfer or Cash will be accepted in
future. I am no longer prepared to accommodate buyers who either do not
have the funds available or change their minds and expect me to bear the burden
of litigation to collect the moneys" - Sheriff Sandton.
Click here for date, location and other details of next sale.
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