|Bidding Instructions||* Register Account * Pay Registration fee (Refundable) * Email proof of payment to verify account * Place Bid * Do Not wait until the last minute to register! *Winning Bidder to pay 15% Deposit into trust account.|
Recently upgraded building in busy area consisting of flats and retail with leases in place.
This building is close to various Government/BCM offices and surrounded by WSU Departments.
Student accommodation potential: R 100 000
Projected income Flats/Retail: R 72 000.
How the process works:
By bidding on the auction, the bidder accepts and binds himself/herself to all the terms and conditions contained herein. https://auctionstation.co.za/home/wp-content/uploads/2020/06/TPS-ONLINE-Auction-Conditions-cash-offer-1.pdf
R10 000 refundable registration fee.
Auctioneers commission of 10% (exc Vat) is added to the bid amount.
The seller is responsible for vacant occupation on transfer
The highest bidder will be required to pay a deposit of 15% of the purchase price immediately into the Thompson Trading Trust Account.
The balance of the total purchase price is required within 30 days of acceptance or when called for by the conveyance.
Seller is a registered VAT vendor. If SARS conditions are met, the property is sold as a “going concern”, therefore 0% VAT and no transfer duties payable. Alternatively, VAT / or transfer duties are payable by the purchaser over and above the bid amount.
Property is currently let to tenants on a month-to-month basis, therefore this sale is subject to tenants’ rights.