Property Auctions have increased hugely in South Africa over the last few years and we are now following the same path as Australia where property auctions are the preferred sales method. Banks and Financial Institutions have for some time used auctions to sell properties at market related prices with great success.
The Property Auction Method is very often able to achieve better prices for properties which are in demand and achieve sales for those which are not.
Our experienced property professionals will guide you ever step of the way from Comparative Marketing Analysis for the correct pricing through to Marketing Feed Back - you will not be alone throughout this process.
The Property Auction Method takes a lot of stress out of the property selling process. It is quick, transparent and without emotional stress a drawn-out sales process creates.
There are no hidden costs in Auctions. The price realised at the fall of the hammer is the price the seller receives.
One of the most common causes of traditional sales collapsing is the inability of the purchaser to obtain finance. Auctions attract clients who know what they are looking for and have organised their finances in advance.
Auctions are able to produce quicker results for an urgent seller where the traditional route may not have been successful.
The Voetstoots Clause applies to Auctions. The property is sold as it stands and in the condition in which it stands at the Auction Date. Section 55 of the Consumer Protection Act does not apply to auction sales, thereby limiting the Seller's liability.
All properties will be sold with a reserve price. Should the reserve price not be achieved the seller is not obligated to accept the offer.