Simulcast Auction – 10 Serviced Municipal Stands, Swellendam

Terms & Conditions:
Register online rileyonline.co.za by sending registration DEPOSIT R500 + FICA (ID & PROOF OF ADDRESS) to admin@rileyauctions.co.za.
It is compulsory that buyers submit FICA documents via email for registration. Use ID as reference for payment. The rules of auction comply with Section 45 of the Consumer Protection Act, Act 68 of 2008. 
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, only one stand per successful bidder.

BANKING DETAILS FOR REGISTRATION DEPOSIT:
Commercial Attorneys Trust Account Number 53842271371, Branch code 200513, FNB Swellendam

Conditions to be imposed on the sale of Panorama/Coldrey Street erven.

1. the purchaser must sign the agreement of sale immediately upon the bid been accepted at the auction;
2. Auctioneers Commission to be paid by the purchaser;
3. A 10% deposit must be paid on signature of the agreement of sale, or guaranteed to the satisfaction of the Conveyancer, being the Seller`s attorneys, by means of a written guarantee from a registered financial institution;
4. the full purchase price must be paid in full on date of transfer of the property to the conveyancer;
5. the transfer must take place within six (6) months, failing which the purchase agreement will lapse and the deposit and commission paid be forfeited;
6. The PURCHASER shall pay occupational rent in consideration of enjoying occupation before date of registration, which rent shall be determined by Seller;
7. The PURCHASER shall from date of occupation be liable to pay or account for municipal service charges, availability fees and rates in respect of the property or, should occupation occur after registration, from date of registration.
8. The PURCHASER shall pay all transfer costs incurred in respect of the registration of transfer of the property as well as transfer duty (if applicable). Such costs shall be payable upon request the said conveyancer.
9. The Purchaser shall within 2 (TWO) years from date of registration of transfer of the property in its name erect buildings valued at R800, 000 (EIGHT HUNDRED THOUSAND RAND) failing which the seller shall levy rates on the property as if the property has been improved, which improvement’s value shall be deemed to be R800, 000 (EIGHT HUNDRED THOUSAND RAND).
10. The property cannot be sold to a third party before the buildings as determined in terms of this agreement have been completed or without the written authorization of the seller, which permission shall not unreasonable withheld;
11. Should the purchaser not improve the property as provided for in this agreement the seller may at its discretion take re-transfer of the property at the expense of the purchaser and against re-payment of the purchase price or in writing extend the time limit within which the property shall be improved subject to the payment of rates as stipulated in this agreement.
12. A suspensive condition must be registered against the title deed of the property to provide for forfeiture in the event that the buildings as stipulated in this agreement has not been erected within the required timeframe.
13. that the transaction be cancelled if the successful bidder cannot deliver within the timeframes as stipulated within the agreement of sale and the purchaser forfeiture the deposit and commission paid;
14. The owner of this erf is obliged to allow, without payment of compensation, electricity cables or wires, main and other water pipes and the sewage and drainage, including stormwater from any other erf or erven, to be passed over this erf if it is passed through the local authority is deemed necessary in the manner and place reasonably required from time to time. This includes the right of access to the property at all reasonable times for the purpose of constructing, modifying, removing or inspecting any works relating to the above.
15. The owner of this erf is obliged to receive the material or allow excavations on the erf without compensation on the erf as required so that the full width of the street can be used and the embankment can be made safe and properly sloping because of the difference between the height of the street as finally constructed and the erf unless he prefers to build retaining walls to the satisfaction of and within a period determined by the local authority
16. This erf may only be used for such purposes as are permitted by the zoning scheme by – laws of the Swellendam municipality and subject to the conditions and restrictions set out in the scheme.

    Restitution of Land Rights

    1. The property is sold subject to the provisions of the Restitution of Land Rights Act No. 22 of 1994.
    2. The sale is subject to any land claim registered in terms of the Restitution of Land Rights Act 1998 on the relevant property. In the event that a claim has been noted against the property by the Land Claims Commissioner, the Seller shall give 30 (thirty) days’ notice to the Land Claims Commissioner in respect of this sale agreement;
    3. The Seller does not warrant or guarantee that there is no land claim against the property and the Purchaser purchases the property subject to any land claims being instituted or to be instituted in terms of the restitution of Land Rights Act 1998;