Terms & Conditions for Well-Known Hans Merensky Hotel with Movables - Phalaborwa

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RULES OF AUCTION

 

his auction is a Timed Online Auction and will be held from Tuesday, 23 February 2021 at 12:00 until Wednesday, 24 February 2021 at 12:00 on the www.vansauctions.co.za online platform. If a bid is made on a lot within five minutes before close, such lot will extend for 5 minutes until 12h05, and thereafter continuously for 5 minutes if a bid is placed within the 5 minutes before closure.

 

The Auctioneer is Johan van Eyk from Van’s Auctioneers at 36 Gemsbok Street, Koedoespoort Industrial, Pretoria  and telephone number 086 111 8267.

 

The sale shall be subject to the control of the auctioneer who shall have the sole right to regulate the advance in bidding. We are selling per rising bid in South African Rand.


VAN’S AUCTIONEERS will be selling on instructions from the


JOINT LIQUIDATORS OF SOUTHERN SKY HOTEL & LEISURE (PTY) LTD (IN LIQUIDATION), REGISTRATION NUMBER: 2006/005152/07


Under Master’s Reference number: L14/2020


to sell by public auction the property known as:


REMAINING EXTENT OF PORTION 1 OF FARM MERENSKY 32, REGISTRATION DIVISION LU PROVINCE LIMPOPO

 

Measuring: 112, 7071 ha


And held by Deed of Transfer number: T26031/2007 in favour of: SOUTHERN SKY HOTEL & LEISURE (PTY) LTD, REGISTRATION NUMBER: 2006/005152/07


AS A GOING CONCERN WITH MOVABLES


Subject to the following auction rules:


  1. The property will be sold to the highest bidder (herein referred to as the PURCHASER) but subject to confirmation by the SELLER, which confirmation can be withheld by the SELLER without furnishing reasons therefore. The PURCHASER is unconditionally and irrevocably bound to his bid for 14 calendar days excluding date of signing of the conditions of sale, and the onus will rest upon the PURCHASER to establish whether his bid was confirmed, or not.
  2. Higher offers may be made prior to confirmation or registration of transfer (whichever occurs first.) Such higher offers must be made to the AUCTIONEER on the same Terms and Conditions as the auction offer and the highest bidder at the auction shall have the right to equal such offers which offer will be preferent to any other offers. The PURCHASER from the auction must exercise this right within 24 hours (excluding public holidays and weekends) after being so notified by the AUCTIONEER, by submitting an equivalent offer and supplementing his deposit accordingly.    
  3. In the event of a dispute arising in regards to a bid made, the AUCTIONEER will have the discretion to put the property up for auction again and his decision will be final.
  4. The PURCHASER shall be liable for payment of all duties, levies and taxes, calculated as from the date of possession and/or occupation, but shall not be held liable for any arrears.
  5. The property is sold Voetstoots, and neither the AUCTIONEER nor the SELLER gives no guarantee as to the extent, patent or latent defects, the nature, quality or legality of improvements, or the legality of any activities practiced thereon, and will not be held liable for any damages arising from same. By taking part in this online auction the bidder aknowledges that he/she/it has acquainted himself with the condition of the property.
  6. Payment method:
  7. A Registration Fee of R100 000 (ONE HUNDRED THOUSAND RAND) is payable. This will be refunded to all non-successful bidders, and accounted for against the deposit as required below from the highest bidder.
  8. 10% of the full purchase price as a deposit, by way of bank guaranteed cheque or electronic  transfer simultaneously with signature of the Conditions of Sale by the PURCHASER or as requested by the AUCTIONEER, which deposit, after confirmation and deduction of expenses and fees (if applicable), will be paid over to the Estate Account.
  9. The PURCHASER shall be liable for payment of interest calculated at 1% per month on the balance of the purchase price from date of possession and/or occupation (whichever occurs first) to date of registration of transfer which interest shall be deemed as occupational rent.
  10. The balance of the purchase price shall be paid or secured by means of a guarantee acceptable to the SELLER, within 45 days from date of confirmation, payable upon registration of transfer.
  11. The PURCHASER will be liable for auctioneers’ commission of 7.5% of the purchase price (exclusive of VAT), which is not included in the purchase price, payable simultaneously with the deposit and shall be in addition to the said deposit.
  12. The PURCHASER shall upon demand be liable for payment of VAT which is not included in the purchase price, or Transfer Duties, whichever is applicable.
  13. Possession and/or occupation will be given and taken subject to any existing lease agreements, leasing, tenancy or legal or illegal occupation, on date of  registration of transfer of the property in the Deeds Office, or as agreed upon in writing between the parties, from which date the sole risk, profit or loss of the property shall rest upon the PURCHASER. The SELLER and the AUCTIONEER do not guarantee vacant occupation. The PURCHASER aknowledges that the PURCHASER will be responsible and liable for all costs towards the eviction herein.
  14. The terms and conditions of this agreement shall constitute the sole agreement between the parties concerned and no variation or amendment thereto shall be binding unless agreed upon in writing and signed by the SELLER and PURCHASER.
  15. In compliance with the National Consumer Protection Act and the Regulations thereto, Vendor Bidding is permitted at the auction, and the SELLER, AUCTIONEER or a Vendor Bidder representing the SELLER or the AUCTIONEER may bid up to an amount and not exceeding the Reserve Price.
  16. These Rules of Auction comply with the provisions of Section 45 of the Consumer protection Act, 68 of 2008. Sub sections (1), (2) and (3) of this Section provides as follows:

(1) In this section, ‘‘auction’’ includes a sale in execution of or pursuant to a court order, to the extent that the order contemplates that the sale is to be conducted by an auction.

(2) When goods are put up for sale by auction in lots, each lot is, unless there is evidence to the contrary, regarded to be the subject of a separate transaction.

(3) A sale by auction is complete when the AUCTIONEER announces its completion by the fall of the hammer, or in any other customary manner, and until that announcement

is made, a bid may be retracted.”