Properties on Auction

Conventional Property Auction Method

• The seller is NOT charged a seller’s commission.
• An Agent will give a full and detailed proposal of the value your property, inclusive of the recommended marketing campaign and how these costs are apportioned.  A reserve price can be discussed and set prior to the auction taking place, providing piece of mind to the seller.
• The property is sold “Voetstoets” and is not sold subject to any suspensive conditions i.e. somebody buying your property but only once they have sold their property, or had their finance approved.
• Following the auction the seller will enjoy a seven (7) day confirmation period, to consider any offers submitted on auction.
• The entire process from date of instruction to the expiry of the confirmation period should not take longer than 5 weeks, making this the simplest and most time efficient means of disposal.
• All buyers at the auction must have their finance pre-approved thereby cutting out the threat of potential time wasters or bogus buyers. A ten thousand rand (R10, 000) bank guarantee is also required in order to qualify to bid. This deposit is forfeited in the event that the purchaser defaults in his payment obligations.
• Finally, we will require a sole mandate from the date of instruction to 30 days after the auction. This covers us against any offers being submitted prior to Auction, and also gives us the opportunity to sell the property privately after the Auction if the auction price is not accepted for any reason.

Dales Bros Cluster Auctions

An alternative method is to include your property on one of our Dales Bros Cluster (Group) Auctions whereby we advertise and auction 10-15 properties collectively.

The Auction is conducted by professional auctioneers and electronic visuals of each property are presented (PowerPoint). Cluster auctions are generally held within a Dales Bros sales room or at an alternative and suitable up-market venue.  Each property included in any one Cluster Auction is put up for Auction consecutively (one after another).

Dales Bros require a sole mandate from date of instruction to 30-days after the Auction, with a seventy two (72) hour confirmation period allowing you to consider any offers submitted. Most importantly we will only commit to auctioning the property if we are at least 80% sure the property will sell.

The Cluster Auction option does not necessarily offer a “spot light” on your property, as it is advertised and marketed together with other properties simultaneously. This is opposed to the conventional method of marketing and auction where one property is sold. This Cluster Auction process does however offer the seller the benefit of securing a sale from buyers in a room full of potential investors or suchlike - looking at your property together with the other properties going on Auction. Broader exposure to a base of strong buyers is thus the benefit.