AUCTION PROCESS
ONLINE PROCESS
The process of bidding on a property online is similar to traditional property auctions, but it allows for greater convenience and flexibility for buyers.
- Register on our website and provide the required information, such as your name, contact details, and proof of identification.
Read the terms and conditions of the auction and make sure you understand the rules and regulations governing the bidding process.
Pay a R10 000.00 registration fee, this fee is refundable if you are not the winning bidder.
Monitor the auction in real-time and place your bids as the auction progresses. You can typically do this via our website, we will also email you updates.
Keep track of the current highest bid and place your own bids in response. You can see the current highest bid and the time remaining on our website.
The seller has 3 days to accept / decline your bid, Once accepted you have 30 business days to pay the remaining balance of the purchase price to the transferring attorneys and complete the purchase of the property.
The highest bidder at the end of the auction will be required to pay a deposit of 11.5%, and sign the sale agreement.
ONSITE PROCESS
The process of bidding on a property is easy with Auction Central
Properties are open for inspection an hour prior to auction .
Read the terms and conditions of the auction and make sure you understand the rules and regulations governing the bidding process.
Complete a simple registration form and provide your ID and proof of residential address to get your bidders number. There is no registration fee to bidders bidding on person
The auctioneer will read the rules and commence the auction
Its auction time, lift your paddle to place your bid
The seller has 3 days to accept / decline your bid, Once accepted you have 30 business days to pay the remaining balance of the purchase price to the transferring attorneys and complete the purchase of the property.
The highest bidder at the end of the auction will be required to pay a deposit of 11.5%, and sign the sale agreement.
