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 Frequently Asked Questions about our Auctions

We’ve put together a list of Frequently Asked Questions and Answers to help if you need any info. We’re also always available to answer any other questions you might have about our auctions – get in touch with one of the CAHi Team members and we’ll be happy to help!

CAN I SUBMIT A BID BEFORE THE AUCTION?

Unfortunately not. Once an auction has been advertised we have to proceed with the auction.

WHAT DOES ||AUCTION WITH RESERVE|| MEAN?

An “Auction with Reserve” is an auction in which the Seller reserves the rights to accept or decline any and all bids. A minimum acceptable price may or may not be disclosed and the Seller reserves the rights to accept or decline any bid within a specified time. The property will be sold to the highest bidder but subject to confirmation by the Seller who has 7/14/21 days from the date of the auction to accept or reject the offer.

DO I NEED TO REGISTER IN ORDER TO BID?

Yes, you will be required to fill in and sign a Buyer’s Registration Form which pertains the Conditions of Sale. You can register to bid on the day of the Auction at the registration table.

CAN I BID ON BEHALF OF SOMEONE ELSE OR AND ENTITY?

Yes, a person who attends the auction to bid on behalf of another person, must be in possession of a proxy form that expressly authorizes him/her to bid on behalf of that person. This needs to be disclosed to the auctioneer prior to the auction. 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 authorizing him or her to bid on behalf of the company.

WHEN IS THE BALANCE OF THE PURCHASE PRICE DUE?

It is common practice that the purchaser delivers guarantees within 30 days after the sale has been confirmed.

CAN I VIEW WHAT I WANT TO BUY BEFORE THE AUCTION?

It is strongly recommended that you view prior to the auction, this can be arranged by contacting our offices.

IS THE DEPOSIT REFUNDABLE?

A deposit is only refunded in the event of the seller not accepting the bidding price, once the auction bid has been confirmed the deposit forms part of the purchase price.

WHEN DOES THE PROPERTY BECOME MY RESPONSIBILITY?

Again it is common practice that responsibility passes upon confirmation but this may vary from transaction to transaction and will form part of the auction conditions. The conditions of sale will be available from our office prior to the auction and will also be read out and explained by the auctioneer at the auction.

WHO PAYS THE AUCTIONEERS/AGENTS COMMISSION?

This may vary from transaction to transaction, the auctioneer will disclose this prior to the sale but one can always contact the auctioneers for clarity.

WHO PAYS THE OUTSTANDING RATES & TAXES AND LEVIES?

Unless otherwise stipulated the seller will be responsible for all arrear property assessments.

CAN OFFERS BE MADE AFTER THE AUCTION?

There is normally a confirmation period during which higher offers may be accepted, terms and conditions will apply.

CERTIFICATES OF COMPLIANCE?

The purchaser will be liable to obtain all the necessary occupation certificates at his own cost, refer to the auction conditions.

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