Conditions

DISCLAIMER

Marietjie Keet Auctioneers is committed to ensuring that privacy is protected to the best of Marietjie Keet Auctioneer’s ability. As the internet is not a secure medium, Marietjie Keet Auctioneers will not be held liable or accountable for any unsuccessful electronic bidding effort/transaction, opinion, expressed or implied, through its own web site, presentations, CD, business profile, or for those of any of its clients. Marietjie Keet reserves the right to refuse any concept or list submissions, either in part or in total, in its sole discretion, in particular all submissions deemed objectionable or questionable. This includes, without limitation, submissions that are racist, unpatriotic, sexist, sexual, speculative, unconstitutional or deceptive in nature, either direct or by implication. Marietjie Keet Auctioneers shall accept no liability for refusing such submissions. The submitting party represents that due authorisation or right has been obtained to submit all concepts and lists, and unconditionally accepts total responsibility for any action whatever that might arise from copyright, contract or agreement limitations or infringements pertaining in any way to such concepts or lists, or as a result of publishing such concepts or lists on Marietjie Keet Auctioneers’ website.

STANDARD CONDITIONS OF SALE

DISCLAIMER

Marietjie Keet Auctioneers will be selling on instruction from the owner/on behalf of the Seller by public auction. Copies of the Conditions of

Sale for any specific property/ies on auction are available at the Auction House. These Standard Conditions of Sale are for information purposes

only and cannot be relied upon as the final contracts.

REGISTRATION AS A BIDDER

1. Prospective bidders must register to receive a bidding number. A bidder cannot participate in the bidding process if they are not registered

as a bidder and in possession of a bidder’s card with a unique number on it.

2. It is important that all registered bidders must (i) thoroughly inspect the property and (ii) read the offer to purchase before the bidding starts and must not bid unless they have done so.

3. Section 55 (1) of the Consumer Protection, Act No. 68 of 2008 (“the Act”), expressly states that the cooling off period does not apply to goods bought on auction.

4. If a bidder is married within community of property, the spouse of the bidder must also be present at the auction in order to sign the offer to purchase, should he/she be the highest bidder.

5. A person who attends the auction to bid on behalf of another person, company or close corporation, must produce a letter of authority that authorises him/her to bid on behalf of that person or entity. A trust must already be registered and in possession of the Letters of Authority of the Master of the High Court.

AUCTION

6. The auction is conducted per rising bid in South African Rand.

7. The VAT-status of the Seller will be announced at the specific auction.

8. Private Auction: The Purchaser shall not be held liable for any arrears with the body corporate (if applicable) or the municipality.

9. Auction with Reserve: The property will be sold to the highest bidder. If the reserve price has not been reached, the offer is subject to confirmation by the Seller who has two (2) business days from date of auction to accept or reject the offer.

10, The Auction House offers an online bidding facility to prospective bidders at www.MarietjieKeetAuctioneers.co.za. Online offers may be included in the offers received on the relevant auction day and shall be deemed equal to offers received at the live auction.

11. No bid may be withdrawn after the fall of the hammer until the expiry of the Confirmation Period. During this time the offer shall be open for acceptance by the Seller or his agent and if the offer is accepted, the sale shall be deemed to be a sale by auction.

12. The highest bidder (“the Purchaser”) shall sign the Offer to Purchase (“Sales Contract”) immediately on the fall of the hammer at the Auctioneer’s desk or at the Auction House.

13. The Purchaser’s offer shall be deemed to have been accepted only when the Seller has signed the Sales Contract.

AUCTIONEER

14. The conducting of the auction is subject to the control of the Auctioneer of the day who has the sole right to regulate the bidding process.

15. The Seller or his/her agent shall be entitled to bid up to the reserve price on behalf of the owner, but shall not be entitled to make a bid equal to or exceeding the reserve price.

PAYMENT METHOD

16. The purchase price of the Property, plus Value Added Tax (“VAT”) if applicable, shall be paid in cash as follows: (i) a deposit of 10% on the purchase price to the Conveyancer appointed by the Purchaser immediately after the fall of the hammer; and (ii) the balance of the purchase price within 60 days from date of auction to the said Conveyancer. Although the Purchaser has 60 days to deliver guarantees to the Conveyancer, guarantees are only for the convenience of the Purchaser. If the Purchaser does not get a loan from the bank, the Purchaser must still be able to pay the purchase price, auctioneers’ commission and transfer costs.

AUCTIONEER’S COMMISSION

17. The Auctioneer is a registered VAT vendor. The purchaser shall be liable for and pay, in addition to the amounts payable in terms of clause 16 hereof, the auctioneer’s commission of 10% on the purchase price plus VAT thereon, which commission shall be deemed to have been earned after the fall of the hammer and is payable on date of acceptance. As soon as the Seller accepts the Purchaser’s offer, the Auctioneer’s Attorneys will send a statement to the Purchaser who must pay the Auctioneers’ commission plus VAT directly into the trust account of the Auctioneer’s Attorneys. The Purchaser’s surname and bidding number (e.g. Smith/1026) must be used as the reference number.

18. The rules of the auction meet the requirements of the Act to the best of the Auctioneer’s knowledge.