Important Info

Sheriff Conditions of Sale for Immovable Property

 The property shall be sold by the sheriff, to the highest bidder subject to such reserve price, if any, as may be stipulated by a preferent creditor or local authority in terms of Court Rule 46 (5)(a).

 The sale shall be for South African Rands, and not bid of less than R1 000,00 (One Thousand Rand) in value above the preceding bid will be accepted.

 If any dispute arises about any bid, the property may again be put up to auction.

 If the auctioneer makes any mistake in selling, such mistake shall not be binding on any parties, but may be rectified. If the auctioneer suspects that a bidder is unable to pay either the monies referred to in conditions 6 and/or 8 or the balance of the purchase price he may refuse to accept the bid of such bidder, or accept it provisionally until the bidder shall have satisfied him that he is in a position to pay all such amounts. On the refusal of a bid under such circumstances, the property may immediately be again put up for auction.

 The purchaser shall, as soon as possible after the sale and immediately on being requested by the sheriff to sign the conditions of sale, do so and if he has bought quo qualitate, state the name and address of his principal which address is chosen as the domicilium citandi et executandi of the principal.

 The purchaser shall pay a deposit of 10% of the purchase price in cash immediately upon conclusion of the sale. Should the purchaser fail to pay the deposit and sheriff's commision, the sheriff shall be entitled to put the property up for auction again forthwith. The balance together with interest on the full purchase price calculated and capitalised monthly in advance from the date of the sale to date of registration of transfer, both days inclusive, at the rate currently charged by the plaintiff on advances equivalent to the purchase price, shall be secured by a bank of building society or other acceptable guarantee, to be approved by the transferring attorneys, to be furnished to the sheriff within 21 days of the date of sale.

 If the purchaser fails to carry out any of his obligations under the conditions of sale the sale may be cancelled in terms of Rule 46(11) by a Judge in chambers summarily on the report of the sheriff after due notice to the purchaser, and the property may again be put up for sale. The purchaser shall be responsible for any loss sustained by reason of his default, which loss may, on the application of any aggrieved creditor whose names appears on the sheriff's distribution account, be recovered from him under judgment of the Judge in chambers pronounced summarily on a written report by the sheriff, after such purchaser shall have received notice in writing that such report will be laid before the Judge for such purpose; and if he is already in possession of the property, the sheriff may, on 7 days notice, apply to a Judge in chambers for an Order ejecting him, or any person claiming to hold under him, from the property. The purchaser chooses as his domicilium citandi et executandi the address set out against his name at the foot hereof.

 The purchaser shall, on the conclusion of the sale, pay 6% auctioneer's charges on the proceeds of the sale up to the price of R30 000,00 and thereafter 3,5% up to a maximum of R11 006,70 incl VAT and in addition, when requested thereto by the Execution Creditor's attorney, costs of transfer being transfer duty or Value Added Tax, whichever is applicable, fees, and stamps and also the arrear rates and taxes, water and lights accounts and other charges (including VAT) necessary to effect transfer. All the abovementioned amounts shall be payable by the purchaser as a liability over and above the purchase price.

 The purchaser shall be entitled to possession of the property immediately after payment of the initial deposit and the auctioneer's commission, and thereafter the property shall be at his sole profit, risk or loss. The plaintiff and the sheriff give no warranty that the purchaser shall be able to obtain personal occupation of the property or that the property is unoccupied and any proceedings to evict the occupier shall be undertaken by the purchaser at his own expense.

 The sheriff may demand that any buildings standing on the property sold shall be immediately insured by the purchaser for the full value of the same and that the insurance policy be handed to the sheriff and kept in force until registration of transfer. If the purchaser fails to comply with this obligation, the sheriff may effect the insurance at the purchaser's expense.

 The property is sold as represented by the title deeds and diagram, the sheriff not holding himself liable for any deficiency that may be found to exist and renouncing all excess. The property is sold voetstoots and without warranty or representation, and also subject to all servitudes and conditions specified in the Deed of Transfer. Neither the sheriff nor the execution creditor is aware of any defect in the property and neither the sheriff nor the execution creditor shall be responsible for any defect in respect of the property which may exist at the date of sale or which may come into existence thereafter. The parties acknowledge that the property is sold voetstoots.

 Upon signing of these conditions of sale by the purchaser they will be regarded as a Deed of Sale.

 The execution creditor shall be entitled to appoint an attorney to attend to the transfer.

 Should the property be subject to any lease (which lease was entered after date of registration of the mortgage bond,) then the property shall be sold subject to such lease; provided that should the bid obtained for the property be insufficient to cover the claim by the execution creditor under any mortgage bond/s registered prior to the commencement of such lease, then the execution creditor may require that the sheriff immediately and there and then resell the property, in which event the property shall be sold free of such lease and the first sale shall be null and void and of no force or effect.

 In the event of the purchaser being a company, a corporation or a partnership, or in the event of the purchaser signing as a nominee or a trustee, then and in all such events the person signing these conditions shall be deemed to have bound himself as surety and co-principal debtor for all the obligations of the purchaser (and, if applicable, jointly and severally with any other persons signing these conditions on behalf of the purchaser) and hereby renounces the benefits of excussion and division, no value received and errors in calculation, the effect of which he acknowledges himself to be aware.

 The purchaser agrees that there is no obligation on the seller to furnish an electrical installations certificate of compliance issued under the regulation in terms of the Occupational Health & Safety Act 85 of 1993. The purchaser will be obliged, at his own cost, to obtain such certificate as from the date of occupation or registration, whichever is the earlier.

 Should a bona fide error be committed by the plaintiff's attorney or the sheriff in respect of the execution of the Court Rules either in the attachment or sale in execution of the property, this sale can be cancelled forthwith and the property be put up for auction again. Such error shall not be binding on the sheriff or the plaintiff's attorney or the plaintiff and neither the purchaser of the immovable property or any other person shall have any claim whatsoever against the aforesaid parties.

 The purchaser chooses domicilium citandi et executandi for all matters flowing from this agreement

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