Residential Conditions of Sale

CPA Regulations and Pre Registration
According to the Consumer Protection Act (CPA) which came into effect in 2011, Prime Auctions would like
to offer you the opportunity to pre-register as a bidder prior to the auction today. South African consumers
are now amongst the best protected consumers in the world and the purpose of the Act is to promote fair
business practise and to protect consumers against deceptive, misleading, unfair or fraudulent conduct. It is
compulsory that all Bidders are required to present the following documentation in order to register at our
auctions:
1. SA Identity Document;
2. Current utility bill addressed to your physical address;
3. In the event of you bidding on behalf of a company, trust or close corporation in your capacity as
director, trustee
or member respectively, you are required to submit a letter of authority on an official letterhead of that
entity,
authorising you to bid, sign all necessary documents and effect transfer on behalf of the entity which
must be
accompanied by a certified copy of the resolutions by the directors, trustees or members of the entity
authorizing
you to do so;
4. A special Power of Attorney is required should you be bidding on behalf of another person which must
expressly
authorize you to bid on behalf of that person and must include a certified copy of that person’s SA
Identity Document
and proof of that person’s residential address not being older than 3 months;
5. Copy of the Entity’s FICA Documents;
6. VAT Registration Documents;
7. Income Tax Reference Number and proof of marital status
Prime Auctions would like to hereby offer you the opportunity to pre-register for the auction in
order to avoid the time-consuming registration process as we endeavour to make this process
as hassle free and efficient as possible.
** Once we have all the relevant documentation, we will issue you with a bid number that will
authorise you to take part in this online auction.
For assistance with this process please contact: William Hunter 0824123710
Newcastle Real Invest Estate CC trading as PRIME AUCTIONS CK 1992/024884/23 VAT Nr. 4350243624
www.primeauctions.co.za admin@primeauctions.co.za Veronique Hunter +27 (0) 83 749 1470 Director: Veronique Hunter
Online Auction Rules and Procedures
1. This auction will be conducted online via the online bidding functionality of our website.
2. Auction with Reserve means that the property will be sold to the highest bidder but subject to confirmation by the Seller who has
7 days to accept or reject the offer.
3. The conduct of the auction is subject to the control of the Auctioneer of the day who has the sole right to regulate the bidding
procedure.
4. Auctions commence at 12h00 unless otherwise advertised and will not be delayed to accommodate any persons who arrive late.
The Rules of Auction will be available on our website.
5. A prospective bidder cannot participate in the bidding process if not registered as a bidder. The registration process includes (i)
registration of the prospective bidder’s identity, (ii) residential address, (iii) contact details.
6. All registered bidders must (i) thoroughly inspect the property and/or goods and (ii) read the offer to purchase (“the Sales
Contract”) before the bidding starts and must not bid unless he or she has done so.
7. We are selling per rising bid in South African Rand.
8. The Vat status of the Seller will be included in the info pack of the particular property.
9. The auctioneer or his/her agent shall be entitled to bid up to the reserve price on behalf of the owner, but shall not be entitled to
make a bid equal to or exceeding the reserve price.
10. Any error by the Auctioneer shall be entitled to be corrected by him/her.
11. A person who attends the auction to bid on behalf of another person must produce a letter of authority that expressly authorises
him/her to bid on behalf of that person. Where a person is bidding on behalf of a company, the letter of authority must appear on
the letterhead of the company and must be accompanied by a certified copy of the resolution authorising him or her to bid on
behalf of the company.
12. In the event of any dispute between the bidders, the decision of the Auctioneer shall be final and binding.
13. The Rules of the Auction and Deed of Sale will be available in the properties info pack and a copy thereof will be available to all
registered bidders and will be filed at the Auctioneer’s office for a period of 5 (five years).
14. The Purchaser shall not be held liable for any arrears unless otherwise stipulated in the Sales Contract.
15. Every bid shall constitute an offer to purchase the property for the amount bid, which the Seller or the Auctioneer may accept or
reject in their absolute discretion. The Seller and the Auctioneer are entitled to withdraw the property from sale prior to acceptance
by the Seller.
16. The highest bidder (“the Purchaser”) shall sign the Sales Contract immediately on the conclusion of the auction.
17. If no bid equals or exceeds the reserve price, the property may be withdrawn from the auction. The Seller shall be entitled to
instruct the auctioneer to accept any lower bid.
18. The Seller has 7 days (“the Confirmation Period”) to accept or reject the offer. No bid may be withdrawn after the fall of the
hammer until the expiry of the Confirmation Period. During this time the offer shall be open for acceptance by the Seller or his
agent and if the offer is accepted, the sale shall be deemed to be a sale by auction for purposes of the Act.
19. The Purchaser’s offer shall remain open for acceptance by the Seller or by the Auctioneer on behalf of the seller, until expiry of
the confirmation period. The Purchaser and the Auctioneer acknowledge and agree that this provision is for the benefit of the
Seller.
20. The Purchaser’s offer shall be deemed to have been accepted only when the Seller or the Auctioneer, whichever may be
applicable, has signed the Sales Contract on behalf of the Seller and the Seller shall not be required to notify the Purchaser of the
acceptance of its offer prior to expiry of the confirmation period.
21. The purchaser hereby nominates Prime Auctions as its agent for the purpose of receiving and accepting notification of
acceptance of this offer.
22. Should the Seller reject the Purchaser’s offer, the Auctioneer will repay to the purchaser any deposit and commission paid to it
in terms of the Sales Contract within a reasonable time.
23. In the event of the sale requiring the consent of any statutory authority or any court of law, then this auction sale is subject to
the granting of such consent.
24. Upon signature of the conditions of sale by the purchaser, the purchaser will pay to the Auctioneer over and above the bid price
an auctioneers fee (commission) equal to 10% (ten per cent) of the bid price plus VAT thereon or a minimum of R30 000 (+VAT)
being Auctioneers commission. The full bid price of the property must be paid upon registration of transfer of the property into the
name of the purchaser for which the purchaser will be obliged to deliver a bank guarantee, acceptable to the SELLER, within 30
(Thirty) days after confirmation of the sale by the SELLER or the Auctioneer. The rules of the auction meet the requirements of the
Consumer Protection Act, Act 68 of 2008 (“the Act”) to the best of the Auctioneer’s knowledge.
25. Section 45 (1) to (4) are brought to the registered bidders’ attention: “Auctions 45. (1) In this section, ‘‘auction’’ includes a sale in
execution of or pursuant to a court order, to the extent that the order contemplates that the sale is to be conducted by an auction.
(2) When goods are put up for sale by auction in lots, each lot is, unless there is evidence to the contrary, regarded to be the
subject of a separate transaction. (3) A sale by auction is complete when the auctioneer announces its completion by the fall of the
hammer, or in any other customary manner, and until that announcement is made, a bid may be retracted. (4) Notice must be given
in advance that a sale by auction is subject to - (a) a reserved or upset price; or (b) a right to bid by or on behalf of the owner or
auctioneer, in which case the owner or auctioneer, or any one person on behalf of the owner or auctioneer, as the case may be,
may bid at the auction.”
26. Section 55 (1) expressly states that the cooling off period does not apply to goods bought on auction: “Consumer’s rights to
safe, good quality
goods 55. (1) This section does not apply to goods bought at an auction, as contemplated in section 45.”
DISCLAIMER: Whilst all reasonable care has been taken to provide accurate information, neither Prime Auctions nor the Seller/s
guarantee the correctness of the information, provided herein and neither will be held liable for any direct or indirect damages or
loss, of whatsoever nature, suffered by an person as a result of errors or omissions in the information provided, whether due to the
negligence or otherwise of Prime Auctions or the Seller/s or any other person. Bidders must register to bid and provide original
proof of identity and residence on registration.
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RESIDENTIAL AGREEMENT AND CONDITIONS OF SALE
Entered into between
______________________________________________ I.D. No_______________________________________
______________________________________________ I.D. No_______________________________________
(Hereinafter referred to as the “SELLER”)
And
______________________________________________ I.D. No_______________________________________
______________________________________________ I.D. No_______________________________________
In his personal capacity, or as nominee For and on behalf of a Company or Close Corporation or Trust Formed or to
be Formed
(Hereinafter referred to as the “PURCHASER”)
For the sale of the property together with improvements thereon described as:
____________________________________________________________________________________________
____________________________________________________________________________________________
____________________________________________________________________________________________
(Hereinafter referred to as the “PROPERTY”)
Transaction Date ___________________________________
Newcastle Realinvest Estate CC trading as Prime Auctions CK 1992/024884/23 • VAT nr. 4350243624
www.primeauctions.co.za • admin@primeauctions.co.za • Veronique +27 (0) 83 749 1470 • Director: Veronique Hunter
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This sale is subject to the following terms and conditions and these conditions serve as an agreement of sale,
whether the Property is sold by public auction or otherwise.
1. AUCTION
1.1. The SELLER hereby appoints Prime Auctions as its agent to immediately accept the offer and confirm
the sale for and on behalf of the Seller should the requested selling price be achieved or exceeded.
1.2. The Property will be sold by way of public auction and once a bid has been made it cannot be
withdrawn.
1.3. The sale shall be by rise and every bid shall constitute an offer to purchase for the amount bid. The
Property shall be sold to the bidder of the highest accepted bid subject to the terms hereof.
1.4. The auctioneer is entitled in his sole discretion to refuse any offer without giving reasons for such
refusal. In the event of there being a dispute regarding any bid, irrespective as to whether the bid has been
knocked down, the property may again be put up for auction at the sole discretion of the auctioneer.
1.5. The Property is sold with reserve and subject to confirmation by the SELLER. The Property will be sold
to the highest accepted bid, this offer shall be open for acceptance by the seller or his agent of which
confirmation or refusal will be given without furnishing any reasons until 18h00 on the 7th (seventh) day
from date of sale.
1.6. The purchaser hereby nominates Prime Auctions as its agent for the purpose of receiving and
accepting notification of acceptance of this offer.
1.7. The Property is sold as described in the existing Title Deeds and subject to all servitudes, conditions,
etc., as described therein.
1.8. Neither the SELLER nor the Auctioneer shall be responsible for the accuracy of any statement made
in any advertisement or other notice of sale of the property relating to its situation or improvements
thereon, extent, or other detail, and no compensation shall be claimable in respect of any error so made.
All purchasers or their representatives will be deemed to have validated for themselves all relevant aspects
of the property whether advertised or not, prior to bidding.
1.9. In the event of a higher offer being received before the date of confirmation it will be dealt with by the
auctioneer under the same terms and conditions with the exception that the original Purchaser has the
(right of first refusal).
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1.10. The highest bidder (“the Purchaser”) shall sign these Conditions of Sale immediately on the fall of the
hammer.
1.11. Should the SELLER reject the Purchaser’s offer, the Auctioneer will immediately repay to the Purchaser
any deposit and/or Auctioneer’s Fee paid by it excluding any interest thereon.
1.12. The consumer Protection Act 68 of 2008 is applicable to: “every transaction occurring within the
Republic, unless it is exempted by subsection (2), or in terms of subsections (3) and (4).”
1.13. Section 45 of Subsection (2) of the Consumer Protection Act 68 of 2008 provides that: “When goods
are put up for sale by auction in lots, each lot is, unless there is evidence to the contrary, regarded to be
subject of a separate transaction.”
2. CONDITIONS OF PAYMENT
2.1. On the fall of the hammer the Purchaser will pay to the Auctioneer over and above the bid price a
Auctioneer’s Fee equal to 10% (ten per centum) of the bid price (plus VAT thereon) or a minimum of R30
000 being Auctioneer’s Fee.
2.2. The full bid price of the Property must be paid upon registration of transfer of the Property into the
name of the Purchaser for which the Purchaser will be obliged to deliver a bank guarantee, acceptable to
the Seller, within 30 (Thirty) days after confirmation of the sale by the SELLER or the Auctioneer, of which
guarantee will be payable to the SELLER or his nominee.
3. TOTAL PURCHASE PRICE
The total purchase price including Auctioneer’s Fee (including VAT on Auctioneer’s Fee) is:____________________
______________________________________________________________________________________________
4. BID PRICE
The Bid Price of the Property (being the highest bid) is __________________________________________________
____________________________________________________________________________________ if applicable,
and shall be paid by the Purchaser in cash, or secured to the satisfaction of the Conveyancing attorneys, by a
written guarantee from a registered financial institution, payable free of exchange, against registration of transfer
of the Property into the Purchaser’s name. The Purchaser may elect to secure the Purchase Price by payment in
cash to the Conveyancing attorneys, who shall hold same in trust, pending registration of transfer into the name
of the Purchaser upon which the conveyancer shall pay to the Seller or his/her nominee. The aforesaid guarantee
shall be delivered and/or cash shall be payable by the Purchaser to the Conveyancing attorneys within thirty (30)
days after confirmation of the sale by the Seller or the Auctioneer.
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5. AUCTIONEER’S FEE
Upon signature of these conditions of sale by the Purchaser, a Auctioneer’s Fee of

______________________________________________________________________________________________
______________________________________________________________________________________________
inclusive of VAT is due and payable immediately by the Purchaser to the Auctioneer by way of cash,
electronic transfer or a bank guaranteed cheque acceptable to the Auctioneer. This Auctioneer’s Fee
will be deemed to have been earned by the Auctioneer either upon the requested selling price being
achieved or if the sale is confirmed by the Seller at a lesser value, or if the sale is by private treaty on
signature of these conditions.
This amount is payable to the following account:
Trust Account : ABSA

Account Number : 40-860-568-59
Branch Code : 632-005
Ref: Name and Surname
6. TRANSFER AND COSTS OF TRANSFER
6.1. The parties note that the AUCTIONEER conducts auctions nationally and internationally from its Head
Office in Newcastle, KwaZulu Natal, Republic of South Africa;
6.2 Experience has demonstrated:
6.2.1 that the auction transactions require constant monitoring by the AUCTIONEER’s Auction
Management Staff, working as a team with the Conveyancers and their staff ;
6.2.2 that the auction transactions require allocated and dedicated staff to deal specifically with the
administration, preparation, conducting of the auction, and after sales management. This ensures effective
service to the needs of all parties;
6.2. 3 to achieve this, the AUCTIONEER’s Management Staff need to work as a team with an allocated and
dedicated team of staff at the Transfer Conveyancers who can then account directly to all parties;
6.2.4 accordingly, the AUCTIONEERS have negotiated with Southey Attorneys Inc. for a conveyancing team
dedicated to the property transactions of the AUCTIONEER, including:
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dedicated conveyancers/notaries;
dedicated paralegals;
face-to- face meetings with the AUCTIONEER’s Management Staff to deal with matters as and when issues arise;
6.3 For these , and other practical reasons, the parties agree to the appointment of Southey Attorneys Inc
as the transfer attorneys;
6.3.1 Should you require oversight of the matter by your own conveyancers, you are welcome to instruct
them at your own cost and our conveyancers will keep them updated on progress;
our conveyancers will send transfer documents to your conveyancers of choice, to attend to signature at a
customary fee to be negotiated, and our conveyancers will pay this amount from transfer fees.
6.4 Conveyancers appointed by the Auctioneer (“the conveyancer”) shall attend to the registration of
the transfer of the Property into the name of the Purchaser. The Purchaser shall be liable for and
shall pay to the conveyancer all the costs of transfer, transfer duty or VAT, whichever is applicable on
demand by the conveyancer.
6.5. The Seller and the Purchaser undertake to sign all documents necessary to register transfer of the
Property immediately upon request of the conveyancer.
6.6. Transfer of the Property shall be passed into the name of the Purchaser as soon as reasonably possible,
after the costs mentioned in Paragraphs 6.1 and 12. hereof and the full Purchase Price has been paid to the
conveyancer.
6.6.1 The Seller shall after transfer furnish notice to the local authority and/or Eskom terminating any
consumer agreements in respect of the supply of water, electricity or other services to the Property. The
Seller shall under no circumstances be liable for any loss or damage whatsoever arising as a result
of it terminating any consumer supply agreements after transfer.
6.6.2 The Purchaser shall forthwith after date of transfer substitute the deposits and/or guarantees in
respect of the property paid to the local authority and/or Eskom by the Seller, if any. The Purchaser
shall notify the Seller that such substitutes have been provided to the local authority and/or Eskom, and
the Seller shall be responsible for obtaining the return of any guarantees or refunds of any deposits from
the local authority and/or Eskom.
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7. POSSESSION AND RISK
7.1. Possession and occupation of the Property, subject to any leases, shall be given to the Purchaser upon
registration of transfer from which date all risks and benefits of ownership in respect of the Property shall
pass to the Purchaser.
7.2. From date of occupation the Property shall be at the Purchaser’s sole risk, and shall become the
Purchaser’s responsibility from which time the Purchaser shall be responsible for all charges and
costs relating to the Property.
8. OCCUPATIONAL INTEREST
8.1. Should the Purchaser take possession of the Property prior to registration of transfer, he shall pay
occupational interest, calculated at the rate of 12% (twelve percent) per annum on the full purchase
price, paid monthly in advance and capitalised monthly from date of occupation to date of registration of
transfer without deduction or set-off, on registration of transfer.
8.2. Should the Seller be in occupation of the property after registration of transfer, he shall pay
occupational interest to the Purchaser calculated at the rate of 12% (twelve percent) per annum on the
full purchase price capitalised monthly from date of registration of transfer to date of occupation by the
Purchaser without deduction or set-off, on registration of transfer.
9. ZERO RATING is intended to be sold as a going concern, and is:
9.1. If the Property hereby sold is an enterprise or part of an enterprise which is capable of separate
operation, it is recorded that:
9.1.1. The Property is disposed of as a going concern and will be an income earning activity on the date of
transfer;
9.1.2. All assets necessary to enable the purchaser to carry on the business will have been transferred to
the purchaser on the date of transfer;
9.1.3. The SELLER and the purchaser are VAT vendors within the meaning of the term as defined and used
in Value Added Tax Act 1991 and are registered as such as at the date of submission to the South African
Revenue Service for a transfer duty receipt and as at the date of registration of transfer;
9.1.4. This transaction is therefore a zero rated taxable supply in terms of Section 11 (1) (e) of the Act.
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9.2. If SARS rules that this sale does not qualify to be zero rated, then the Purchaser must pay value added
tax at the standard rate calculated on the purchase price within five (5) business days of receipt of written
request from the Seller or the Conveyancers.
10. EXISTING TENANCIES
10.1. The Property is sold subject to all existing tenancies.
10.2. The Purchaser shall be bound by those terms and conditions of the existing leases as fall within the
ambit of the rule “huur gaat voor koop” of which he is fully appraised.
10.3. Until date of registration of transfer, the Seller shall be entitled to any and all income, rental or
otherwise, earned in respect of the Property and shall be entitled to recover any and all amounts owing.
10.4. The Purchaser shall not be entitled to give notice to any existing tenant of the property until
registration of transfer of the property into the name of purchaser has taken place.
10.5. Should any persons be in occupancy of the property, which occupancy is not subject to a
valid lease, the Purchaser shall, on transfer of the Property into his name, at his own expense, arrange for
the removal of such person or persons.
10.5.1 The Seller shall co-operate in the above process with regard to supplying evidence and including
being a witness.
11. REPAIRS AND IMPROVEMENTS
11.1. Prior to registration of transfer, the Purchaser shall not be entitled to effect any alterations to the
Property without the prior written consent of the Seller.
11.2. The Seller shall not be obliged to compensate the Purchaser for any unauthorised alteration effected
in the event of the sale being cancelled for whatsoever reason.
11.3. The Purchaser shall be liable for any damages suffered by the seller as a result of any alterations
effected by the Purchaser not authorised by the Seller.
12. RATES AND TAXES
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12.1. The Seller shall be responsible and make payment on demand to the conveyancers of all amounts for all
charges and costs relating to the Property including rates and taxes to the date of transfer. For the purposes of
giving transfer of the property to the Purchaser and in order to obtain the requisite clearance certificate in respect
of the property, the Purchaser acknowledges that it shall be liable for and make payment on demand to the
Seller’s conveyancers of all amounts that the Seller’s conveyancers may in their sole discretion determine to be the
Purchaser’s pro-rata liability for the rates as well as for any other charges levied against the property.
12.2. Neither the Seller nor the Auctioneer warrant or guarantee the correctness of the amount/s of the
rates and taxes and all other charges and sums due and payable on and in respect of the Property to the
relevant local authority which was obtained by the Seller and/or the Auctioneer from the local authority
and conveyed before and/or after the auction to the Purchaser. Therefore neither the Seller nor the
Auctioneer can be held responsible and liable for the correctness thereof.
13. BREACH
13.1 Should any one of the parties commit a breach of this Agreement or fails to comply with any of the
provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven)days notice in
writing to remedy such breach or failure (unless such breach of failure occurs after the transfer documents have
been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the
Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then
the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies
which it may have in law, including the right to claim damages:
13.1.1 to cancel this Agreement and upon cancellation:
13.1.1.1 If the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the
Purchaser, excluding Auctioneer’s Fee, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller,
and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of
whatsoever nature it may have caused on the Property, whether with or without the Seller’s consent. The parties
specifically agree that the Auctioneer shall be entitled, but not obliged, to immediately resubmit the Property for
auction; and
13.1.1.2 if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all monies paid
in terms hereof to the Seller and to the Auctioneer and to claim any other damages from the Seller that it
may have suffered as a result of the Seller’s default;
(OR)
13.1.1.3 to claim immediate performance and/or payment of all the defaulting party’s obligations in terms
hereof.
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14. CANCELLATION
14.1 Upon cancellation of the Agreement for whatever reason, the Purchaser hereby undertakes to
forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the
Property through the Purchaser’s title or by his permission. Occupation shall be redelivered in the same good
condition as at the date of possession.
14.2 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not
create a tenancy either in terms of any statutory provision or at common law.
14.2.1 in the event of the cancellation of the sale following upon:
14.2.1.1 A breach by the Purchaser, It is specifically agreed that the purchaser shall forthwith become
liable for and shall pay Prime Auctions’ Auctioneer’s Fee and other costs and charges as herein set forth.
14.2.1.2 A breach by the SELLER, the SELLER shall forthwith become liable for and shall pay Prime
Auctions’ Auctioneer’s Fee and other costs and charges as herein set forth.
14.2.1.3 If the sale is cancelled as a consequence of the Seller’s default or the purchaser’s default, the party
in default and/or at the election of Prime Auctions shall be liable for Prime Auctions’ Auctioneer’s Fee
calculated in terms of Clause 5 above.
14.2.1.4 It is specifically agreed by both Seller and Purchaser that the Auctioneer’s claim for Auctioneer’s
Fee shall be the first charge against any monies that may be payable to the Seller. If the sale is cancelled
by the SELLER or Purchaser or by mutual consent for any reason whatsoever, the Auctioneer’s Fee paid to
the auctioneer is not refundable
15. LEGAL COSTS
The Purchaser shall be liable for all legal costs incurred by the Seller and the Auctioneer in enforcing the terms of
this agreement, on an attorney and own client scale, including Auctioneer’s Fee based on the High Court Tariff plus
20% (Twenty Percent).
16. NOTICE
For the purposes of this agreement, the parties choose the fax numbers, physical and e-mail addresses specified
hereunder as their domicilia citandi et executandi –
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Any notice sent by either party to the other arising from the signature of these conditions shall be
deemed to have been received by the addressee –
1. Five (5) days after date of dispatch if sent by prepaid registered post; or
2. On the date of delivery by hand; or
3. On the date of successful facsimile transmission; or
4. On the date of successful emailing
17. VOETSTOOTS
17.1. The Purchaser acknowledges that he has inspected the Property, is satisfied therewith and purchases
the Property “voetstoots” and subject to the terms and conditions and servitudes mentioned or referred
to in the Title Deeds.
17.2. The Purchaser acknowledges that he has not been induced into entering into this agreement by any
express or implied information, statement, advertisement or representation made by the Auctioneer or any
other person, or by on behalf of the SELLER. The Purchaser hereby waives any rights whatsoever which he
may otherwise have obtained against the SELLER as a result of such information, statement, advertisement
or representation made by or on behalf of the SELLER.
17.3. The Purchaser acknowledges and understands that, as it is buying the Property on auction, the
provisions of Section 55 of the Consumer Protection Act 68 of 2008 are not applicable to this transaction.
18. JOINT AND SEVERAL LIABILITY
If this agreement is concluded with more than one Purchaser, the liability of all such Purchasers to the
Seller and the Auctioneer shall be joint and several in solidum.
19. COMPANY, TRUST OR CLOSE CORPORATION TO BE FORMED
19.1. In the event of the party signing as Purchaser acting as Trustee for a Company/Close Corporation or
Trust formed or to be formed, then that signatory binds himself/herself in their personal capacity as co-
principal debtor for all the obligations herein created and shall be responsible to the Seller as if he/she
was the Purchaser in terms of this deed of sale.
19.2. In the event of the Company/Close Corporation not being incorporated within 45 (forty-five) days
from the date of signature hereof then the signatory hereto as Purchaser shall be treated in his/her
personal capacity as Purchaser and shall be liable for all the obligations herein contained as if he/she were
the actual Purchaser.
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19.3. Notwithstanding the aforegoing, the signatory hereto shall be responsible in his/her personal
capacity if:
19.3.1. The Company/Close Corporation to be formed is not incorporated/registered prior to the date on
which the guarantees were to have been delivered.
19.3.2. The Company/Close Corporation to be incorporated does not ratify this agreement.
19.3.3. The Company/Close Corporation, despite ratification, fails to comply strictly with the terms of this
agreement.
19.3.4. In the event of the signatory purchasing on behalf of a Trust and the Trust is not registered; all the
above obligations shall apply to the signatory in his/her personal capacity.
19.3.5. In the event of there being more than one Purchaser reflected on this agreement, such Purchasers shall be
jointly and severally liable in solidum for the due and proper performance of all the parties’ obligations in terms of
this agreement and the parties hereto waive their rights under the exception de duobus vel pluribus reis debendi,
meaning that this is a benefit acquired by the Debtor where several debtors are bound jointly, but not severally,
and each one is liable for only his/her own share of the whole debt. By renouncing this benefit, the whole debt
can be recovered from one, or some, or all of the debtors.
19.3.6. Should it transpire that the Power of Attorney or Resolution in terms of which any Purchaser signs this
agreement is for any reason invalid, then the signatory shall be liable in his/her personal capacity for all the terms
and conditions created in this agreement.
20. COMPANY AND CORPORATION
If the Seller is or is deemed to be a company or close corporation, to enable the Purchaser to elect whether to
purchase the share or member’s interest and loan accounts (if any) as the case may be, the Seller undertakes,
if requested to do so within 7 (seven) days of this agreement, to make all its records available to the Purchaser
within 7 (seven) days of the request. Within 7 (seven) days of such records becoming available the Purchaser
shall, in writing, inform the Seller if he wishes to purchase the share or member’s interest in, and loan accounts,
if any, against the Seller whereupon the Seller shall instruct the attorneys to prepare a contract upon which the
shareholders or members, as the case may be, are prepared to sell the shares or member’s interest and loan
accounts (if any). If, within 7 (seven) days of preparation of the contract it is signed by the Seller and the Purchaser,
a copy will be dispatched per prepaid registered post by the attorney to Prime Auctions.
21. COMPANIES, CLOSE CORPORATIONS, ASSOCIATIONS OR TRUSTS
21.1 Should the Purchaser be a Company, Close Corporation, Association or Trust, the person signing this
Page 12
agreement on behalf of such Purchaser, by his signature hereto interposes and binds as surety for and coprincipal
debtor with the Purchaser for the due and proper discharge of all its obligations arising from this agreement.
22.2 In such an event the surety hereby renounce the benefits of the following exception:
22.2.1 Excussion – meaning the legal process or proceedings whereby a creditor must proceed against a
principal debtor before proceeding against a surety or subsidiary debtor. This benefit is hereby renounced;
22.2.2 Division – meaning the legal claims must be divided amongst sureties. This benefit is hereby
renounced.
22. ELECTRICAL INSTALLATION CERTIFICATE OF COMPLIANCE
The Seller shall furnish at its cost the necessary electrical installation certificate of compliance, which
certificate is issued in terms of the Occupational Health and Safety Act No 85 of 1993. Should any repairs
be required to comply with the act, the cost of such repairs will be for the account of the Seller. In the
event that the Seller delivers and existing certificate of electrical compliance, the Seller warrants that the
said certificate was not issued more than 2 years prior to the date of registration of transfer into the name
of the Purchaser and that there have been no alterations to the electrical installation at the Property since
the issue of such certificate.
23. MAGISTRATES’ COURT JURISDICTION
The parties hereto consent to the jurisdiction of the Magistrate’s Court in in terms of Section 45 read with
Section 28 of the Magistrates’ Court Act of 1944 as amended. Notwithstanding the aforegoing, this shall
not preclude either party from approaching the High Court for any relief.
24. GENERAL CLAUSES:
24.1. This agreement constitutes the whole agreement between the parties as to the subject matter
hereof and no agreement, representation or warranty between the parties other than those set out herein
are binding on the parties;
24.2. No extension of time, waiver, indulgence or suspension of any of the provisions of this agreement
which any party hereto may have given shall be binding unless recorded in a written document signed by
all parties;
24.3. This sale does not include any movable assets found on the Property excepting for any movable
assets specifically mentioned in these conditions;
24.4. No variation or alteration or cancellation of these Conditions of Sale or any of the terms hereof, shall
Page 13
be of any force or effect, unless in writing and signed by the parties hereto;
24.5. Wording importing the singular shall include the plural and vice versa, and words importing
the masculine gender shall include the feminine gender and words importing persons shall include
partnerships and bodies corporate, and vice versa;
24.6. The Seller warrants that he, or the Auctioneer on his behalf, is duly authorised to sign acceptance of
the Deed of Sale;
24.7. The parties hereto, as by their signatures, do confirm:-
24.7.1. that they have read and understand all the terms and conditions contained herein and agreed
thereto and that they are bound thereby;
24.7.2. that they are duly and properly authorised herein.
Page 14
PURCHASER’S DETAILS
PURCHASER:______________________________________________________________________
IDENTITY NUMBER:_________________________________________________________________
MARITAL STATUS:__________________________________________________________________
HUSBAND/WIFE’S FULL NAMES:______________________________________________________
CONTACT PERSON:_________________________________________________________________
REG. NO:_________________________________________________________________________
VAT NUMBER:_____________________________________________________________________
TELEPHONE NUMBER:______________________________________________________________
CELLPHONE NUMBER:______________________________________________________________
EMAIL ADDRESS:___________________________________________________________________
FAX NUMBER:_____________________________________________________________________
PHYSICAL ADDRESS:________________________________________________________________
POSTAL ADDRESS:_________________________________________________________________
DATED AT ____________________ ON THIS _________ DAY OF ___________________2021
I the purchaser hereby confirm that the full extent of my obligations and rights herein have been explained
to me and that I have been given an opportunity to make the necessary enquiries in respect of the proper-
ty and all material aspects related to this property and sale and that I understand the effect of the agree-
ment.
__________________________________ __________________________________
*SIGNATURE OF PURCHASER
AS WITNESSES:
1. ____________________________ 2.__________________________________
FOR AND ON BEHALF OF THE PURCHASER
____________________________ _________________________________
AUCTIONEER ACCEPTING BID AS WITNESSES:
_____________________________
Page 15
SELLER’S DETAILS
I/We ____________________________________________________________ in my/our capacity as the Seller:
HEREBY CONFIRM THIS SALE ON THE CONDITIONS AS HEREIN SET OUT
DATED AT ___________________ ON THIS _________ DAY OF __________________ 2021
______________________________ __________________________________
*SIGNATURE OF SELLER
AS WITNESSES:
1. ____________________________ 2._________________________________
FOR AND ON BEHALF OF THE SELLER
SELLER’S TELEPHONE NUMBER: _____________________________________________________
SELLER’S FAX NUMBER: ____________________________________________________________
SELLER’S EMAIL: _________________________________________________________________
TRANSFERING ATTORNEYS: _________________________________________________________
TEL: ___________________________________________________________________________
EMAIL: __________________________________________________________________________

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Residential Conditions of Sale

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CPA Regulations and Pre Registration

2. Current utility bill addressed to your physical address;

5. Copy of the Entity’s FICA Documents;

6. VAT Registration Documents;

7. Income Tax Reference Number and proof of marital status

authorise you to take part in this online auction.

7 days to accept or reject the offer.

The Rules of Auction will be available on our website.

7. We are selling per rising bid in South African Rand.

make a bid equal to or exceeding the reserve price.

10. Any error by the Auctioneer shall be entitled to be corrected by him/her.

behalf of the company.

instruct the auctioneer to accept any lower bid.

acceptance of its offer prior to expiry of the confirmation period.

acceptance of this offer.

in terms of the Sales Contract within a reasonable time.

the granting of such consent.

may bid at the auction.”

safe, good quality

proof of identity and residence on registration.

RESIDENTIAL AGREEMENT AND CONDITIONS OF SALE

Entered into between

______________________________________________ I.D. No_______________________________________

______________________________________________ I.D. No_______________________________________

(Hereinafter referred to as the “SELLER”)

______________________________________________ I.D. No_______________________________________

______________________________________________ I.D. No_______________________________________

(Hereinafter referred to as the “PURCHASER”)

(Hereinafter referred to as the “PROPERTY”)

Transaction Date ___________________________________

3. TOTAL PURCHASE PRICE

Upon signature of these conditions of sale by the Purchaser, a Auctioneer’s Fee of

This amount is payable to the following account:

Trust Account : ABSA

6. TRANSFER AND COSTS OF TRANSFER

6.2 Experience has demonstrated:

7. POSSESSION AND RISK

9. ZERO RATING is intended to be sold as a going concern, and is:

10. EXISTING TENANCIES

10.1. The Property is sold subject to all existing tenancies.

11. REPAIRS AND IMPROVEMENTS

12. RATES AND TAXES

13.1.1 to cancel this Agreement and upon cancellation:

14.2.1 in the event of the cancellation of the sale following upon:

15. LEGAL COSTS

18. JOINT AND SEVERAL LIABILITY

19. COMPANY, TRUST OR CLOSE CORPORATION TO BE FORMED

20. COMPANY AND CORPORATION

21. COMPANIES, CLOSE CORPORATIONS, ASSOCIATIONS OR TRUSTS

22. ELECTRICAL INSTALLATION CERTIFICATE OF COMPLIANCE

23. MAGISTRATES’ COURT JURISDICTION

24.7. The parties hereto, as by their signatures, do confirm:-

24.7.2. that they are duly and properly authorised herein.

HUSBAND/WIFE’S FULL NAMES:______________________________________________________

DATED AT ____________________ ON THIS _________ DAY OF ___________________2021

FOR AND ON BEHALF OF THE PURCHASER

AUCTIONEER ACCEPTING BID AS WITNESSES:

I/We ____________________________________________________________ in my/our capacity as the Seller:

HEREBY CONFIRM THIS SALE ON THE CONDITIONS AS HEREIN SET OUT

DATED AT ___________________ ON THIS _________ DAY OF __________________ 2021

FOR AND ON BEHALF OF THE SELLER

SELLER’S TELEPHONE NUMBER: _____________________________________________________

SELLER’S FAX NUMBER: ____________________________________________________________

SELLER’S EMAIL: _________________________________________________________________

________ I.D. No_

________ I.D. No_

________ I.D. No_

________ I.D. No_

DATED AT ________________ ON THIS _ DAY OF _______________2021

DATED AT _______________ ON THIS _ DAY OF ______________ 2021