Real Estate Investor Magazine South Africa September 2016 | Page 48

AUCTIONS

Auctioneering in South Africa
Buying and Selling property on Auction is the way to go!!
BY DAVID SOUTTER

A

uctions are fast taking centre stage in the
buying and selling of property in South
Africa. With commercial, industrial and
residential property changing hands on auction every
day, the platform is fast becoming a first choice in
the market place, offering a seamless and conclusive
process for both parties.
Following in the footsteps of the leading world
markets, South Africans are fast embracing Auction
as a competitive option for disposing of their prize
possession.
Auction offers numerous benefits for both parties;
for the seller, a quick 3 week turnaround time with a
set sale date, provides the peace of mind and assurance
that the transaction will be concluded on that day.
Auction attracts pre-qualified buyers to the event,
and the sale is not subject to finance, the purchaser is
obliged to raise the finance prior to the auction.
With the finance in place the buyer immediately
enters into the sales contract on the fall of the hammer
and is bound to perform and adhere to the terms and
conditions set therein. The transaction is clean, with
no suspensive conditions and is accompanied by a
non-refundable deposit.
This is a major benefit in a market where the banks
determine the approval of a sale, too often deals fall
through due to banks declining the finance. This can
be a very frustrating process for both buyer and seller
which often leads to uncertainty and foiled plans.
46

SEPTEMBER 2016 SA Real Estate Investor

For the buyer, there is no risk of over paying for a
property as the buyer determines the correct market
value. No time is wasted approaching a seller who
often has an unrealistic price. By placing a property
on auction the seller has made his intentions clear, is a
real seller, and is not just testing the market.
The auction platform ensures that the entire process
is fair and transparent, buyers know within a very
short period whether their offer is successful. Auction
eliminates long tedious negotiations between the
parties which often hinder and can at times derail a
sale.

For the buyer, there is no risk of over paying
for a property as the buyer determines the
correct market value
Reliance Auctions has positioned itself as the
leader in the Property Auction Industry and since its
inception in 2011, Reliance has offered an unrivalled
sales platform and has emerged as a successful,
reliable brand.
We challenge you to list you property with us and
experience the pleasure of a hassle and stress free sales
process that will satisfy your price and expectation.

RESOURCES
Reliance Auctions
www.reimag.co.za