FAQS
Have questions? Our Frequently Asked Questions (FAQS) provide quick answers to common queries about sheriff auctions in South Africa.
A Sheriff Property Auction, also known as a Sale in Execution, is a public auction conducted by a court-appointed official known as the Sheriff. These auctions sell properties that have been repossessed by banks or other financial institutions due to the owner’s inability to pay their debts.
www.sheriffproperty.co.za is the easiest, most affordable and most comprehensive way to gain access to ALL Sheriff property auction listings across South Africa. Alternatively if you have the time you could find some information on upcoming auctions by scouring through hundreds of government legal publications. Many sheriff’s offices post some information at their physical offices on their notice boards but this would require you to physically drive to each and every sheriff’s office location every week.
To participate in a Sheriff Auction, you typically need to register in advance and may be required to provide proof of identity (like an ID or passport), residence, and sometimes a refundable participation deposit. The specific requirements can vary, so it’s important to check with the particular Sheriff’s office handling the auction.
Yes, viewing arrangements are often possible by contacting the Sheriff’s office responsible for the auction. Most sheriffs make the auction properties viewable on the day of the auction just before the auction takes place.
Purchasing property at a Sheriff Auction can be risky because properties are sold “voetstoots” (as is), which means the buyer takes the property with all its defects, known or unknown. It’s highly recommended to thoroughly research and, if possible, inspect the property before bidding.
The reserve price is the minimum price that the creditor is willing to accept for the property. If bids do not meet or exceed this reserve, the property may not be sold at the auction. Reserve prices are not always disclosed prior to the auction.
If you win a property at auction, you will be required to make a deposit immediately – usually 10% of the purchase price. The balance is typically due within a certain period (often 15 to 30 days) after the auction. Payment methods and terms should be confirmed with the relevant Sheriff’s office beforehand.
Yes, in addition to the bid amount, you may be responsible for Sheriff’s commission, outstanding taxes, and transfer costs. It’s important to factor these into your budget when bidding.
After the full payment is made, the Sheriff will issue a confirmation of the sale and the property will be transferred into your name. A conveyancer will register the property in your name at the Deeds Office.
Yes, a property can be withdrawn from auction if the debtor settles the debt, if there is a court order to stop the sale, or if the creditor decides to withdraw the property for any reason. Always confirm the status of the property before attending the auction.