Auction Terms and Conditions
DISCLAIMER Whilst all reasonable care has been taken to provide accurate information, neither Peter Maskell Auctions CC nor the Sellers guarantee the correctness of the information, provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a result of errors or omissions in the information provided, whether due to the negligence or otherwise of Peter Maskell Auctions CC or the Sellers or any other person.
Capacity Of Parties
The highest bidder shall, immediately after the sale, sign the conditions and if the Purchaser purchases on behalf of a principal, he/she/it shall divulge the name of such principal upon signature hereof. The Seller, however, shall sign the conditions only upon confirmation of the sale.
Voetstoots The property is sold as described in the title deed subject to the servitudes and conditions contained therein, any preceding title deeds, leases or other real rights. The property is sold voetstoots as it is and the Seller does not afford any guarantees or warranties in respect of the buildings or any improvements on the property, including all building materials, irrespective of whether the defect, damage, error or shortcoming is latent, hidden, visible, structural or otherwise nor that it is fit for the purpose for which it was built or bought, irrespective of whether it is covered by the voetstoots clause at common law or not and the Seller shall not be liable for such defect, costs and damages. This clause shall be interpreted to favour the Seller should there be a dispute regarding the voetstoots clause. The seller does not warrant that all plans are in order and have been approved by the relevant municipality concerned. The purchaser satisfies himself prior to entering into a sale agreement that the improvements on the property are built in accordance with approved plans and according to municipal regulations. Should the purchaser neglect to ascertain the status of the improvements prior to transfer, he will have to accept the property with the prevailing defects. The purchaser confirms he has investigated the plans and acquires the property as is, and any outstanding plans will be for the cost of the Purchaser. Transfer and Transfer Costs Attorneys appointed by Seller shall attend to the registration of the transfer of the Property into the name of the Purchaser. The Purchaser shall be liable for and shall pay to the Attorneys all the costs of transfer, transfer duty or VAT, whichever is applicable.
Breach Of Contract
Should the Purchaser fail to comply with any term of this agreement the Seller, without prejudice to any right or remedy he might have in terms of this agreement or at common law, may do the following: • By any of the means stipulated in the clause relating to “NOTICES”, address a notice to the Purchaser at his domicilium citandi , notifying him of his breach and requesting him to remedy same within 7 (SEVEN) days. • Cancel this agreement without further notice: ➢ upon which the Purchaser will forfeit all monies paid by him in respect of this agreement as the reasonable pre-estimated liquidated damages without prejudice to any of the Seller’s other rights in terms of this agreement to claim for damages suffered including special damages irrespective of whether such damages were contemplated by the parties at date of conclusion of the agreement, and the Seller may recover from the Purchaser such damages as the Seller has suffered and in this regard the Seller shall be entitled to re-sell the property and to retain the aforesaid payments made by the Purchaser and any interest accrued thereon until such time as the Seller’s damages have been determined and to apply the said payments and accrued interest towards the settlement of or reduction of such damages ➢ and retake possession and occupation of the property ➢ and the Seller may declare all monies paid to the Seller, whether held in trust or otherwise and any interest accrued thereon, to be forfeited to the Seller as “rouwkoop” (the Purchaser hereby authorising all persons holding such monies in trust to pay them to the Seller on demand); or • Claim immediate payment of the whole balance outstanding and strict compliance with all the terms of the agreement and damages, if applicable. • Should the Purchaser be in breach of the agreement, the Purchaser shall be liable to the Auctioneer for payment of the full amount of the commission and shall be liable to the conveyancer for all fees for work in respect of the transfer of the registration of the property and the registration of any bonds and the Seller may in summary manner issue summons against such a party for payment of the due amount. • Should any amount be due by the Purchaser in terms of this agreement, whether liquid, liquidated or unliquidated, a certificate issued by the Seller, stating the amount due, shall be prima facie proof of the Purchaser’s indebtedness.
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