Sheriff Nelspruit Auctions
To view upcoming Movable and Immovable Auctions please visit our Calendar page.
Auctioning Process
A Sheriffs Auction is also known as a Judicial Auction which is a public auction. It implies that a Sheriff may only auction either moveable or immovable property, after a judgment was duly granted and a subsequent writ of execution was issued by an appropriate Court directing the Sheriff to act and attach accordingly, thereby endeavouring to liquidate the judgment amount due.
The auction process to be followed by a Sheriff is guided by various relevant acts and rules, i.e. the High Court and Magistrate’s Court’s Acts and Rules, as well as the Consumer Protection Act to name only but a few.
The general public may participate in a Judicial Auction which must be made public by a Sheriff according to prescriptions. In order to bid on either movable or immovable property, you will first need to register as a bidder, pay the required refundable deposit and submit the required FICA documentation prior to the auction commencing.
The registration process and rules of auction are different for movable and immovable property auctions. Registrations for movable auctions take place on the morning before the auction, and registrations for immovable property has to be completed the day before the scheduled auction.
Should you require further information about registering for auctions please select the relevant link below.
1. What is being Auctioned?
Broadly speaking assets or goods to be auctioned can be classified as movable or immovable property. Movable property can be described in a variety of ways, but can be understood in comparison to immovable property, such as land and buildings for example.
2. Auction Date & Location
Once an auction date and place is determined by a Sheriff, it can take place accordingly. Please note that is possible for a scheduled and advertised auction to be cancelled before commencement due to various reasons i.e. settlement of the amount due by the Judgment Debtor or technical shortcomings, etc.
3. Auction Rules & Conditions
The general public may participate in a Judicial Auction only if they have registered as a bidder. Please follow the link below to peruse the relevant rules and regulations listed under Conditions of Registrations for further information regarding Movable and Immovable Auctions.
4. Register for Auction
By law a prospective buyer must register beforehand for a specific auction to partake therein. Registration is subject to complying with the Financial Intelligence Centre Act (FICA) requirements.
5. Auction Bid
A Sheriffs Auction is also known as a Judicial Auction which is a public auction. It implies that a Sheriff may only auction either moveable or immovable property after a judgment was duly granted and a subsequent writ of execution issued by an appropriate Court directing the Sheriff to act and attach accordingly, thereby endeavouring to liquidate the judgment amount due.
6. Pay & Finalise
Payment, due to security reasons, is immediately required. Due to the nature of judicial sales, immediate payment of the bid price or required amount is imperative. Payment, due to security reasons, may only be effected by Card or EFT. Non-compliance with immediate payment may result in liability for resulting losses and damages. Movable property may only be collected after conclusion of the auction and full settlement of monies due. Collection must be done on the auction day where after storage costs will be collected.
Talk to Us
Should you have any queries or questions, please feel free to send us an email and we’ll get back to you.