Buying and selling property
on auction is the way to go
Letter from the CEO
Auctions 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, where over seventy percent of property transactions
are sold on auction, South Africans are now 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 three week turnaround time with a set
sale date, providing 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. The Seller gets to set a minimum reserve and should the
winning bid fall short of this, he is not obliged to accept the offer.
With the finance in place the buyer immediately enters into a sales contract on the fall of the hammer, and is
bound to perform and adhere to the auction terms and conditions. The transaction is clean, there are no
suspensive conditions and the successful bid is accompanied by a substantial 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 and often
leads to uncertainty and foiled plans.
For the buyer, there is no risk of over paying for a property as he/she 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.
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 emerging as a successful, reliable brand.
We challenge you to list your property with us and experience the pleasure of a hassle, stress free sales
process that will satisfy your price and expectations.
- David Soutter
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