Auction Day

We conduct all our property auctions either on site or at leading and central city hotels. It is not uncommon for 500 people to attend our larger multiple events creating a buzz and an atmosphere which is crucial to the success of the sale.

All Buyers go through a scrutinising registration process which includes signing acceptance of the Conditions of Sale and acknowledging that they are aware of the terms and conditions of the auction contract. Each Buyer has to pay a refundable deposit in order to enter the auction sale.

For sellers it is important to note that the fall of the hammer represents a final and binding sale and the successful bidder is legally obliged to pay a deposit, representing a percentage of the purchase price, and sign a Memorandum of Sale before leaving the auction venue. The Conditions of Sale are sent to your attorney and if sent to an attorney on our panel they will advise us regarding the transfer process and any legal matters arising.

The buyer has to purchase your commercial or residential property for the price they have bid, together with the auction commission which is payable to us. They may not renegotiate and cannot change any of the terms stipulated. The deposit is held in trust until registration of transfer.

If you are new to selling residential or commercial property on auction, you may want to attend one of our auctions. The atmosphere of our exhilarating auction events can be extremely exciting and competitive. The prices achieved at the auction can often be higher than those achieved by private treaty.

The Costs

We charge a fee to cover the inspection of the property, marketing, advertising and catalogue production cost. The fee will depend on what has been negotiated with the relevant Business Development Manager and the amount of advertising is agreed upon.

In the event of a sale our commission is payable by the purchaser in terms of the Conditions of Sale. We work on risk; if there is no success when selling property, there is no commission payable.

Our mandate deals with the property auction entry fee and the buyer's commission rate.