Frequently Asked Questions

South Africa

FAQs

A Bidder Security must be provided at the time of registration. This amount will be dependent on the value which has been placed on the property and the number of lots you wish to bid on, subject to change. The amount required for any given property is displayed when you click into the relevant property. 

Payment of the Bidder Security can be made via debit/credit card or bank transfer. If you pay via debit/credit card, the Bidder Security will be taken from your card only if you are the successful purchaser of the property. If you are not the successful bidder, the hold on your card will be released (or bank transfer returned in line with our terms and conditions).

Unlike the private treaty process, auction properties are not sold ‘subject to contract’, ‘subject to finance’ or ‘subject to survey’. When a lot is sold, a legal and binding contract has been formed: if you are the successful bidder, you are legally obliged to complete the sale.

We strongly advise potential purchasers to check that they have read and understood all the various legal documents and terms & conditions prior to bidding.

We normally hold two open viewings for each property. Viewing times are listed on the relevant property page. Please note that it may be a few days from the launch of the catalogue before viewing times have been arranged.

Conditions of Sale, Title deeds, SG Diagrams, leases etc. can be downloaded from the relevant property page. These documents will help you and/or your legal adviser to make an informed decision about the lot.

Simply click on the 'View Legal Pack' button below the property summary.

Please note that you will need to create a BidX1 Account to access the legal documents. This is free and takes less than two minutes. 

You do not need to pay for the entire bid amount in cash; you can arrange for finance or bond approval should you require this. However, the guarantees are generally due 30 days from the date of acceptance of your offer and the sale is not subject to the purchaser obtaining finance or bond approval. Please note that all auction properties are sold without any suspensive conditions – if you are the successful bidder, you are legally obliged to complete the sale. We strongly advise that you make yourself acquainted with the Conditions of Sale.

Each property has an undisclosed Reserve Price – the lowest price that the seller is willing to accept for the property. All offers will be presented to the seller and the seller may decide to sell the property for an amount that is below the reserve price.

The Guide Price is simply a guide from the auctioneer for bidders, indicating a suggested price range. This does not reflect the Reserve Price or the Opening Bid and the seller has the opportunity to accept the highest bid.

When registering to bid at an auction, you will need to have the following information to hand:

Your Identification Documents 

  • Proof of Identification (a copy of your current passport or driving licence)
  • Proof of Address (a bank statement, utility bill or Government-issued correspondence dated within the last 3 months)

Additional Purchaser Information

If you are purchasing the property with another individual, you will need to provide details about this individual including their name, email address and phone number (they will receive an email asking them to confirm these and to provide further details and identity documents).

Director & Shareholder Information

If you are purchasing the property on behalf of a Company, you will need to provide details about the Directors and Shareholders including their names, email addresses and phone numbers (they will receive an email asking them to confirm these and to provide further personal details and identification documents). 

Solicitor Information Details of your solicitor including the firm name, contact name, address & phone number.

Payment Information Credit/Debit Card details or Bank Account details. 

The registration process is easy, and includes the following steps:

  1. Create a BidX1 Account (a Personal Account if you wish to bid as an individual or with other people, a Company Account if you plan to bid on behalf of a company)
  2. Log in to your Account
  3. Navigate to the property that you wish to bid on
  4. Click on the blue 'Register to Bid' button

You'll then be asked to do the following:

  • Fill in your personal details (if you're using a Company Account, you will need to provide the company's name, address and incorporation number, as well as your own personal details)
  • Upload your personal identification documents (if you're using a Company Account, you will need to upload the relevant company documents)
  • Review and confirm the details provided 
  • Read and accept the Terms & Conditions
  • Pay your Bidder Security

After these steps have been completed, we will review your registration and let you know once you are approved to bid.

Once you have been approved to bid by our teams, you are free to place bids as soon as the auction opens. Placing a bid is easy, and you can practice at any time using our Bidding Demo

Note that bidding takes place on the relevant property page – the same page that you’ve been visiting to get information about the property and to register for bidding. On the right-hand side of this page (or at the bottom of your screen if you’re using a mobile device), you will see the Bidding Panel.

There are two bidding options to choose from: you can place a bid manually by using the 'Instant Bid' button or set an 'Auto Bid' to let the system do the work for you. 

In both cases, you will be asked to confirm your bid amount before it is placed.

We will also keep you informed of your bidding via email notifications – you will receive an email for your records each time that you place a bid and if you are out-bid, a further email will be sent to notify you of this.

Please note that if a bid is placed within 60 seconds of the scheduled closing time, an additional 60 seconds will be added. This is known as an extension period. During an extension period, any further bid that is placed will result in the clock re-setting again for a further 60 seconds, giving all registered bidders a fair and equal opportunity to place another bid. This will continue to happen until a full 60 seconds passes with no bids being placed.

Bidding typically opens on all lots at the same time on the day of the auction. The opening time will be clearly advertised across all lots.

Although bidding on all properties usually opens at the same time on auction day, the closing time for each property is different – this time will be advertised in the bidding panel on the relevant property page. Properties typically begin to close from 9am, sometimes earlier, and usually follow a staggered closing pattern of one property every 2 - 5 minutes. Make sure you check the closing time for your property in advance of the auction. 

Please note that if a bid is placed within 60 seconds of the property's closing time, an additional 60 seconds will be added. This is known as an extension period, and is detailed further below.

No; our auctions are fully online and we cannot accept bids over the phone.

However, our bidding technology is compatible with mobile phones, allowing you to place a bid from anywhere in the world with a working internet connection. We have also developed an Auto Bid function, which will place bids for you up to a pre-set limit decided by you.

We have developed a number of features to help in this instance:

Warnings
Our platform can usually detect when there is a connectivity issue between your device and our bidding system. In such instances we will inform you with on-screen prompts outlining the current connectivity issue e.g. slow speeds, complete loss of connectivity detected etc.

Auto Bids
Our platform will allow you to enter an automatic bid with a pre-set maximum amount that cannot be viewed publicly. The system will enter bids for you, only in order to maintain your position as the highest bidder, and only up to the maximum amount that you’ve specified.
If this maximum bid is overtaken, you will be notified via email and can enter another higher bid if you so choose.

Multiple Devices
Our platform will allow you to be logged in as a registered bidder on multiple devices simultaneously. This can mitigate the risk of losing broadband connection, or mobile connection.

The closing time for each property on auction day is different – this time will be advertised in the bidding panel on the relevant property page. However, if a bid is placed within 60 seconds of the property's closing time, an additional 60 seconds will be added. This is known as an extension period.

During an extension period, any further bid that is placed will result in the clock re-setting again for a further 60 seconds, giving all registered bidders a fair and equal opportunity to place another bid. This will continue to happen until a full 60 seconds passes with no bids being placed.

Due to variations in browser and connection speeds, bidders are advised to make a bid with at least 10 seconds remaining on the clock.

Our platform will allow you to enter an automatic bid with a pre-set maximum amount. This is known as an Auto Bid, and it cannot be viewed publicly. The system will enter bids for you – but only in order to keep your position as the highest bidder, and only up to the maximum amount that you’ve specified.

If this maximum bid is overtaken, you will be notified via email and can enter another higher bid if you so choose. It is important to note that once set, an Auto Bid cannot be cancelled.

STC – Subject to Confirmation. This means that once the auction has finished, the winning bid will be subject to approval by the vendor.

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