ECDC Vacant Stands SIMULCAST Property Auction

Past Auction

ECDC Vacant Stands SIMULCAST Property Auction

Saturday 30 October 2021 at 10am

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24 High Street, Butterworth

Eastern Cape Development Corporation (ECDC)
has resolved to dispose a portfolio of non-core and non-strategic immovable properties which are not required for the provision of basic services. The objective of the land disposal project is to lower ECDC’s operating costs and raise capital to fund essential service delivery initiatives. Butterworth and Umzimkhulu have been identified as the first batch of properties to be put on sale. We are very excited to present you with the following vacant properties for sale!

 

ECDC VACANT STANDS ONLINE & ONSITE
SIMULCAST PROPERTY AUCTION
(BUTTERWORTH & UMZIMKHULU SITES)

ONLINE REGISTRATION:
Opens on 4 October 2021 at 09:00 and
closes 29 October 2021 at 15:00pm (ONLINE ONLY)

Viewing Address:
by appointment only
venue:
ECDC, 24 High Street, ButterwortH
CONTACT:
MRS L BOZO 066 113 6472 / SABELO 074 080 9107

BID ONLINE AT rileyonline.co.za

Terms & Conditions:
Register online by sending REFUNDABLE DEPOSIT R25 000 + FICA (ID & PROOF OF ADDRESS) to admin@rileyauctions.co.za.

It is compulsory that buyers submit FICA documents via email for registration. The rules of auction comply with Section 45 of the Consumer Protection Act, Act 68 of 2008. Please ensure all your documentation is sent back for verification by 3pm on Friday 29 October to admin@rileyauctions.co.za

NOTES: RESERVE: This auction is ‘With Reserve’. Although you may be the highest 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. Please note that if you are the successful bidder on more than one lot, you will be invoiced for all your successful bids. You cannot choose or select which lots you will take!

BANKING DETAILS: Standard Bank (Trust Account) Branch 018105 Account 023233710

Online Auction

 

Downloads

ECDC Auction Property Bidders Pack

CONDITIONS OF SALE
Registration Fee: R25 000 refundable deposit.
Confirmation Period: 15 days confirmation period by the seller.
Deposit on Purchase Price: 10% payable by electronic transfer (EFT).
Guarantees on Balance: 15 days from date of acceptance.
Buyer’s Commission: 10% plus VAT.
Outstanding Rates and Taxes & Levies: SELLER is liable for all outstanding rates and taxes & levies.
Bidders must adhere to FICA requirements on registration. No cash will be accepted for the auction.

Bidders must familiarise with all terms and conditions of sale attached as the finer details of all disclaimers are there – including any encroachments if applicable.

NOTES: 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.

Please note that if you are the successful bidder on more than one lot, you will be invoiced for all your successful bids. You cannot choose or select which lots you will take!

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, Riley Auctioneers reserve the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software, ECDC, nor Riley  Auctioneers shall be held responsible for a missed bid or the failure of the software to function properly for any reason.