Prospective bidders must comply with the requirements of the Financial Intelligence Act 38 of 2001 (FICA) as amended prior to the commencement of the auction (reg 26(2)).

Consumer Protection Act requirements for registration

Sheriffs Profession

FICA COMPLIANCE

1. Identity Document (CERTIFIED COPY).
2. If married in community of property -marriage certificate and spouse's Identity Document (CERTIFIED COPY) :OR
3. If unmarried, please advise;
4. Income tax Number for yourself and spouse;
5. Any ONE of the under mentioned documents provided that they specify the purchaser's NAME and physical residential address (NOT A POSTAL ADDRESS)
   • Rates and taxes or utilities (e.g water, electricity account) less than three months old; or Notification of residential address from the S A Department of Home Affairs; or
   • Pay Slip / salary advice (less than 3 months old); or
   • Telkom account (less than 3 months old); or
   • Banks statement (less than 3 months old); or
   • Mortgage Statement (less than 6 months old); or
   • SARS tax return,IRP5 (less than one year old); or
   • Valid television license documentation(less than 3 months old).

COMPANY DOCUMENTS

• CM1 -Certificate of Incorporation (CERTIFIED COPY)
• CM2 -Memorandum of Association (CERTIFIED COPY)
• CM22 -Notice of Registered Office (CERTIFIED COPY)
• CM29-Contents of Register of Directors, Auditors and officers (CERTIFIED COPY)
• CM46-Certificate to commence business (CERTIFIED COPY);
• Tax reference number;
• Copy of Vat Registration Number (CERTIFIED COPY)
• Utility Bill or Telephone account or Bank Statement or any such document which reflects the COMPANY NAME AND PHYSICAL BUSINESS ADDRESS of the company

DIRECTORS (we require all the following for ALL of the Directors)

• Identity Document (CERTIFIED COPY)
• If married in community of property - marriage certificate ; or
• If married out of community of property- marriage certificate and ANC;
• If unmarried, please advise;
• Income Tax Number;
• Any one of the documents as per item 2 to 4 above.

REPRESENTATIVES

If a person / company is to be represented at the auction by an appointed representative , the following is required;

• FOR INDIVIDUALS; a letter of authority/Power of Attorney with the representative's Name and ID, and a certified copy of the ID.
• ON BEHALF OF A COMPANY; a letter of authority on the company letter head with the persons name and ID number.
• A certified copy of the representative's ID and a Certified copy of a company resolution allowing the representative to bid on the company's behalf.

IF THE ABOVE IS NOT SUPPLIED FOR REGISTRATION, YOU WILL NOT BE ISSUED WITH A BUYERS CARD AND SUBSEQUENTLY NOT ALLOWED TO BID AT THE AUCTION.

DO YOU WANT TO BUY A PROPERTY ON A SHERIFF'S AUCTION ?

NOT SURE HOW IT WORKS?

Consider the following...

Please find a link to the complete Conditions of Sale on our website www.sheriffctnorth.co.za . Kindly familiarise yourself with these rules as a point of departure.

In addition to the Rules of Auction, here are a few of the most important CONDITIONS OF SALE that may apply for sales in execution.

The standard conditions of sale (or offer to purchase as you may know it) are usually about 9-10 pages long and may vary slightly from sale to sale as the attorneys who prepare them (on behalf of the various bondholder) may word it differently. The conditions of each specific sale are available for inspection at the relevant Sheriff's office 10 days before the sale - do feel free to inspect the same in our office.

PLEASE CONSIDER THE FOLLOWING:

1. The sale shall be for SOUTH AFRICAN RANDS.
2. The purchaser shall be required to sign the conditions of sale IMMEDIATELY after conclusion of the sale and choose an address which will be considered as his/her domicilium citandi et executandi. Signature of such conditions is exactly like signing an offer to purchase, but you cannot opt out or cancel the offer without forfeiting your deposit and sheriff's commission etc.
3. The purchaser shall pay a deposit of 10% of the purchase price to the sheriff in cash (or by EFT by pre-arrangement) immediately upon conclusion of the sale. There are NO EXCEPTIONS to this rule!
4. The full balance of the purchase price together with interest at the rate payable to the Plaintiff at the time of the relevant sale from the date of sale to the date of transfer, and guarantee shall be delivered to the Sheriff within 14 days of the date of sale (no extensions permitted).
5. The purchaser shall be liable for payment of interest at the prime rate of the plaintiff on the balance of the purchase price calculated monthly in advance from the date of sale to the date of transfer, both days inclusive.
6. The purchaser shall be responsible for payment of all costs and charges necessary to effect transfer including conveyancing costs, rates, taxes, and other like charges (i.e.: levies) necessary to procure a rates clearance certificate, transfer duty or VAT attracted by the sale and any Deeds registration office levies. These amounts are payable over and above the purchase price.
7. The purchaser shall on the day of the sale pay the Sheriff's commission calculated as follows: (a) 6% of the proceeds up to a price of R30,000.00 PLUS (b) 3.5% of the balance of the purchase price, provided that the minimum amount payable shall be R475.00 and the maximum R9,655.00 PLUS VAT. (Maximum commission including VAT = R 11,066.70) There are NO EXCEPTIONS to this rule!
8. The purchaser is entitled to possession of the property immediately after the fall of the hammer and signing the conditions of sale, payment of the initial deposit and auctioneers commission, and thereafter the property shall be at his/her sole profit, risk or loss. The plaintiff and the Sheriff give NO warranty that the purchaser shall be able to obtain personal and or vacant occupation of the property or that the property is unoccupied and any proceedings to evict the occupiers shall be undertaken by the Purchaser at his own cost and expense.

The three items marked in blue are important to consider. These amounts are payable on the day of the sale, and the purchaser must have these amount available by way of cash, a bank cheque or available for immediate transfer in their banking account on the day of the sale for payment (only by prior arrangement 1 day before the auction).

The conditions of sale vary slightly from sale to sale as the attorneys who prepare them (on behalf of the various bondholders) may word one in the same things differently. The conditions of each specific sale are available for inspection at the relevant Sheriff's office 10 days before the sale - do feel free to inspect the same in our office.

Information regard arrear rates and taxes, arrear body corporate levies, judgment debts etc are NOT disclosed except on the day of the sale.

*The properties are often occupied by either the owner/s or tenants up to and including the day of the sale. Prospective buyers DO NOT have the right to view the property before the sale, only on the day of the sale. Kindly refrain from contacting the tenant or owner prior to the sale. The public advertisements for the sales are published in the Government Gazette and a local newspaper circulating the area where the debtor lives 10 days before the sale.

I hope this answers a few of your questions, do feel free to ask if you require any more assistance.

What is mentioned here is the most frequently asked questions, and is in no way complete.