We are one of South Africa’s leading commercial property auctions and sales companies and have been privileged to connect buyers and sellers for decades. As market leaders, we sell thousands of properties each year throughout South Africa. We aim to provide the greatest opportunity of finding the right property for you. Our extensive reach and asset class specialisation provides you with multiple opportunities to acquire various property types.
We are backed by the expertise and associated services by our partnership with Broll property Group. Should you enquire additional services for your newly acquired asset, please connect with us.
An auction is a public process where buyers compete for a product or service by submitting bids. The highest bidder typically wins the auction.
Auctions are a good option for sellers who want to generate interest and potentially achieve a higher sale price quickly. They are also be beneficial for buyers who are comfortable in a competitive environment and are confident in their ability to assess value.
No you do not have to register to attend an auction. If you are curious about the process and not yet ready to place a bid, we invite you to come and watch the action on the day of auction and familiarise yourself with the workings of the live event, while also enjoying a networking opportunity.
No you do not have to register to attend an auction. If you are curious about the process and not yet ready to place a bid, we invite you to come and watch the action on the day of auction and familiarise yourself with the workings of the live event, while also enjoying a networking opportunity.
To register for the auction we require a valid form of identity, proof of residence and bank statements not older than three months for FICA, a completed and signed auction registration and customer due diligence forms which contains the terms and conditions of the auction which you need to acknowledge that you have read and understood. A bank confirmation letter not older than 3 months must also be supplied. We also charge a refundable registration deposit before issuing of bidders’ cards.
Congratulations on being the highest bidder. First and foremost all properties aresubject to acceptance by the seller. While your bid is legally binding on your part, the seller still has the option to accept or reject your bid. On the day of the auction, if yours is the winning bid, you will be required to sign a sale agreement and make an initial payment (deposit) immediately after the auction. This deposit goes towards the final purchase price. Offers are submitted to the sellers for acceptance within a specified period of time, and sellers may either accept your bid or counter. Upon acceptance the balance of the purchase price will need to be paid over to the designated transferring attorney, and the transfer of ownership process will commence.
If you're not the winning bidder, there is no further obligation on your part and your registration fee will be refunded to you within a specified amount of time. If you're still interested in purchasing a property, you can continue searching for auctions on our platform.
Unlike traditional property sales, when buying on auction, you the buyer, are liable to pay the auctioneer’s commission which will be outlined in the conditions of sale for each property as well as either VAT or transfer duty plus legal fees for the transfer process. Be prepared to settle any outstanding municipal rates, taxes, and levies associated with the property. These are typically the responsibility of the buyer from the date of the auction.
Always bear in mind that a bid at a property auction is considered legally binding and you are entering into a contract. It's important to do your research on the property being auctioned, understand the auction process and fees, and set a realistic budget for your bid. Be prepared to move quickly during the auction itself.
This is a common misconception around auction properties. Our brokers are always on hand to assist you in viewing any of our properties for sale and in fact we encourage it since properties sold on auction are sold as “voetstoots” (as is) and while we insist on sellers completing a disclosure form, it is always best to view the property in person to get an idea of its investment value to you.
Auctions can be held online, in person, or through a combination of both. You can find listings for auctions on our website and social media platforms.
A tender for commercial property is a formal process where companies bid (place offers) on purchasing a specific commercial property for instance on our digital platform. The tender window for bids is open for a specified amount of time during which companies must fulfil their due diligence on the property and ensure they have their funds in place. Once the tender window is closed, the bids are then submitted to the sellers and evaluated on pre-defined criteria, such as any potential suspensive conditions, purchase price, funding, creditworthiness, and the intended use of the property.
The tender process is a good opportunity for businesses looking to secure a property that meets their specific needs. It can be particularly beneficial for companies seeking competitive terms.
Many commercial property tenders are advertised online through our website and digital platform as well as through direct marketing and our social media platforms.
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Auctions are typically used to sell commercial properties outright to the highest bidder. Tenders are a more selective process where proposals are evaluated based on a set of criteria, not just price.
Should you require more information simply contact our offices and one our highly skilled team members will gladly assist with any questions you may have.
We encourage you to create an Account and update your profile on your investment preferences, including areas, property types and value range. You may also subscribe to our newsletter by completing the form below or by following us on our social media pages, just look up Broll Auctions and Sales.
