Makhado Local Municipality Vacant Stands Online Auction (Business Stands) ROUND TWO
ROUND TWO - Business Stands
Makhado Local Municipality has appointed Tirhani Auctioneers to dispose 849 vacant residential and business stands located in two newly established townships; namely, South of Pretorius and Tshikota Extension 1. Eight hundred and thirty-four (834) of the vacant stands earmarked for disposal are zoned residential 1, five (5) are zoned residential 2, and ten (10) are zoned business.
The auction will be conducted in two consecutive rounds. Buyers will be restricted to buy one stand per registered natural or juristic person during the first round. No restrictions will apply during the second round for properties unsold during the first round.
Properties purchased during the auction must be developed within three (3) years from the date of signing the Deed of Sale, with the provision that the Council may allow an extension of a further two (2) years. If the purchaser fails to complete the development within the prescribed period, the property will revert to the Council without compensation by Makhado Municipality to the purchaser for any improvements on the property.
See link for for more information on each stand - https://www.google.com/maps/d/edit?mid=1CQdcwVJ4silZYfoY-ZaTpZL_scaaaXJy&usp=sharing
Auction Open Wednesday 29 Sept (09h00) – Close 1st October from 09h00 (Staggered Closing / Lot Closing Speed - 1 lot every 2 minutes plus 2 min Auto Extend from 13:00
Property Queries - Property Administration Department: Vongani Baloyi (vongani@tirhani.co.za) 076 790 6100
Deposit: 15 % / Confirmation: 14 Business days / Guarantees: 30 Days
Please note that if you are the successful bidder on more than one vacant stand (lot), you will be invoiced for all your successful bids. You cannot choose or select which stands you will take!
Auction will have vendor bidding. Bidders are hereby given notice in terms of section 45 (4) of the CPA that Tirhani Auctioneers may bid at the online immovable property auction to protect the reserve price.
Registration Fee: R10 000 Residential Stands and R50 000 business stands
Buyers Commission: None
TO PARTICIPATE IN THIS ONLINE AUCTION, PLEASE COMPLETE THE BIDDER PARTICIPATION FORM (DOCUMENTS TAB). By signing the Bidder Participation Form, you consent and agree to be bound by the Auctioneers General and Specific Rules of Auction in addition to any other conditions specified by the Auctioneer or the Seller. These Rules of Auction are not negotiable, so if you do not agree with them do not register to bid on this auction.
Please ensure all your documentation is sent back for verification by close of business on Thursday 30th September to auction@tirhani.co.za by 12:00pm (Midday).
This auction is 'With Reserve'. Although you may be the ‘High Bidder’ for a Lot, note that if the Reserve is not met, there is no commitment from the Seller to sell. The sellers shall be entitled to instruct the auctioneer to accept a lower bid. The Auctioneers reserve the right to refuse or accept the bid of any bidder should they be unable to satisfy any of the above notices or the Rules of Auction.
EXTENDED BIDDING: This auction features EXTENDED BIDDING. Any lot with a bid within 2 (TWO) minutes of its scheduled closing time will remain open for bids past its normal close; it will go into extended bidding. Staggered Closing / Lot Closing Speed - 1 lot every 2 minutes plus 2 min Auto Extend from 13:00.
MAX BIDDING: When you place your maximum bid, it will be placed at the reserve price if said max bid exceeds the reserve. If the Max Bid amount is below the reserve, the bid will be placed for the full amount. The 'System' will automatically bid against you at the set increment until reserve is met, at which point the system will stop. If you are the highest bidder, the lot will be sold to you, unless another bidder out bids you.
TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software, Internet or any other online auction-related technologies, Tirhani Auctioneers reserve the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software, nor Tirhani Auctioneers shall be held responsible for a missed bid or the failure of the software to function properly for any reason.
The control of the auction shall be entirely managed by the auctioneer, who has the sole right to regulate the bidding process and control the bid increments. The auction will be conducted per rising bid in South African Rands.
Please note the following important terms and conditions for this auction:
- This auction will be conducted in two consecutive rounds. Any unsold lots in round 1 will be resold in round 2.
- You will be restricted to buy one stand per registered natural or juristic person during the first round. No restrictions will apply during the second round for properties unsold during the first round.
- Make sure that you only bid on one lot at a time and stop bidding when you have been declared the high bidder on a lot – in other words, when the lot has closed with you as the high bidder.
Please note that if you are the successful bidder on more than one vacant stand (lot), you will be invoiced for all your successful bids. You cannot choose or select which stands you will take!
Please feel free to contact a member of our staff if you have any questions. Contact details are as follows:
Invoicing Queries – Auction Administration Department: Robyn Brown (robyn@tirhani.co.za) 079 305 3809
Bidding Queries – Online Auctions Department: Bernard Decombes (bernard@tirhani.co.za) 082 327 4578
General Queries – Customer Service Department : Stacy-Lee Campbell (stacy-lee@tirhani.co.za) 082 327 4580
Property Queries - Property Administration Department: Vongani Baloyi (vongani@tirhani.co.za) 076 790 6100
To participate in this online auction, complete and submit all required documents by 4PM on the cut-off date on the Tirhani Auctioneers Buyer’s Portal.
By signing the Rules of Auction and Bidder Participation Form, you the bidder/buyer consent and agree to be bound by the Auctioneers General and Specific Rules of Auction in addition to any other conditions specified by the Auctioneer or the Seller. These Rules of Auction are not negotiable, so if you do not agree with them do not register to bid on this auction.
This auction is 'With Reserve'. Although you may be the ‘High Bidder’ for a Lot, note that if the Reserve is not met, there is no commitment from the Seller to sell. Tirhani Auctioneers reserve the right to extend bidding, continue the bidding, or close the bidding. Control of the auction shall be entirely managed by the auctioneer, who has the sole right to regulate the bidding process and control the bid increments. The auction will be conducted per rising bid in South African Rands.
