Property auctions in Eastern Cape
21 upcoming property auctions in Eastern Cape: 19 sheriff sales in execution and 2 auction-house sales, collected from the auctioneers and sheriffs who run them. Free accounts see the next 7 days.
Buying on auction in Eastern Cape
How do sheriff auctions in Eastern Cape work?
A sheriff auction is a sale in execution ordered by the court, usually after a bond or levy default. The sheriff advertises the sale in the Government Gazette and sells to the highest bidder. A deposit (commonly 10%) and the sheriff’s commission are payable on the day; the balance is secured by guarantees within the period set in the conditions of sale.
What happens at an auction-house sale?
You register with FICA documents and a refundable registration fee, bid live or online, and on the fall of the hammer pay a deposit plus buyer’s commission. Most sales are subject to a confirmation period during which the seller accepts or rejects the highest bid.
Can I view the property first?
Auction houses usually hold scheduled viewings and publish an information pack. Sheriff properties generally cannot be viewed inside; buyers rely on the Gazette description and a drive-by.
Is the property sold voetstoots?
Yes. Auction properties are sold as they stand, usually with no guarantees about condition, occupation or arrears. Budget for outstanding rates, levies and possible eviction costs.
Why don’t I see auctions in Eastern Cape more than 7 days away?
Free accounts see auctions dated within the next 7 days. Paid packages from R195pm show every listing as soon as it is published.