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Why Buying at Auction is a Smart Move!
Think auctions are just for run-down properties? Think again! Buying at an auction can be one of the best ways to secure a fantastic deal on real estate.
Here’s why:
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Unbeatable Value – Auctions often offer properties at below-market prices, giving you the chance to secure incredible deals. Whether you’re an investor or a home-buyer, this means more property for your money!
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Fair & Transparent Process – No back-and-forth negotiations or hidden surprises. You see the competition in real time, and the highest bid wins — simple, fast, and fair.
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Diverse Property Selection – Auctions feature a wide range of properties, from modern family homes to luxury estates and investment opportunities. Many are in great condition, contrary to the common misconception!
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Quick & Efficient Purchase – Say goodbye to long, drawn-out property transactions. The auction process is straightforward, with clear timelines, meaning you can secure your new property quickly and hassle-free.
Don’t miss out on your dream property — browse our latest auction listings and subscribe to our newsletter today for up to date auctions!
The Auction Process for Buyers
Your Step-by-Step Guide to Securing Your Dream Property
Buying a property at auction is a thrilling and transparent way to invest in real estate. Here’s a simple breakdown of the process to ensure you’re fully prepared and confident when the hammer falls in your favor.
PRE-AUCTION: Preparation is Key (1-2 weeks before the auction)
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Find & Schedule
Locate an auction property that interests you and diarise the auction date and time. Auctions move fast, so punctuality is crucial.
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Inspect the Property
Attend the scheduled viewings and assess the condition of the property.
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Do your due diligence
There are no refunds!
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Register to Bid
Secure your spot by paying a small registration fee and submitting your FICA documents (ID & proof of residence).
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Review the Bidder’s Pack
Understand the terms of sale, including deposit requirements, commission, and auction conditions. Knowledge is power!
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Prepare Your Finances
If you win, you’ll need to pay:
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A 10% buyer’s commission.
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A 5% deposit.
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The balance of the purchase amount within the agreed time frame (typically 45 days to provide a guarantee of funds).
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AUCTION DAY: Time to Bid & Win
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Show Up Ready
Bring your proof of registration & FICA documents for on-site auctions — only registered buyers may enter the auction premises.
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Understand the Bidding Process
Read the Rules of Auction. The auctioneer will explain the rules for on-site auctions before the bidding begins.
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Place Your Bids
Raise your bidder number to place an offer. Stay within your budget and bid strategically.
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Winning the Auction
If you win, you’ll:
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Sign the Agreement of Sale immediately.
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Pay the 10% commission + VAT into our trust account.
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Pay a 5% deposit on the winning bid amount.
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Have 45 days to provide proof of funds or secure financing for the remainder of the bid price.
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Runner-Up Consideration
If the winning bidder fails to complete the transaction, the runner-up may be offered the property.
TRANSFER: The Final Step to Ownership (6-8 weeks)
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Legal Transfer Begins
Once proof of funds is provided, attorneys handle the transfer process, which typically takes 6-8 weeks.
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Bond costs are payable if applicable.
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Transfer costs payable to conveyancer
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Ownership & Costs Transition
From the date of transfer:
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You officially own the property.
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You gain access and possession of the property.
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All costs, including rates, levies, and maintenance, become your responsibility.
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Don't miss out! Download our app and register as a user to start bidding!