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Auction Station > Auctions > , , > INVESTMENT PROPERTY ON AUCTION || 2 RETAIL AND 14 FLATS

INVESTMENT PROPERTY ON AUCTION || 2 RETAIL AND 14 FLATS

  • Current Bid:

    R0.00

  •  

Auction ID:
#5630
Posted on:
30th of June 2020 at 11:25 AM
Time Left:

302532

Watch List:
Item Specifics
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.
Description

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

  1. Make yourself familiar with the property
  2. Chat to the agent regarding auction range and how the auction works
  3. If need be apply for PRE-AUCTION finance before hand – click the link to complete the form
  4. Complete the terms and conditions – email or contact your agent
  5. Pay your refundable registration fee – Pay
  6. Place your bid – and monitor the process closely right until 12H00 in order to protect your bid.

 

    • PLEASE NOTE: Should you not have the full bid price cash or need part bank finance please contact the agent for assistance in making your bid. We have various partnerships and offer PRE-AUCTION Finance

    • COSTS and SPECIAL CONDITIONS

      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.

    • The property will be knocked down conditionally and the Conditional Sale shall be binding upon the highest bidder and the second-highest bidder until the binding date and time referred to in the terms and conditions, subject to confirmation by the Seller who reserves the right of accepting or rejecting the highest bid.
    • SPECIAL CONDITIONS:

      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.

  • AUCTIONEER
    Brendon Thompson
    6 Batting Road, Beacon Bay, East London
  • E-mail: admin@tpsel.com
  • Tel: 085 300 1000

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