An auction can be a very stressful time for a seller...it doesn't have to be
Founded in 1887, The Currie Group is a leading property services group in Gauteng. The Currie Group has a long rich history of auctioneering and are proud to be one of South Africa’s oldest auctioneering houses.
At the Currie Group our experienced sales agents and marketing team will guide the seller every step of the way keeping him / her informed with any major developments regarding the sale process.
Auctioneering nowadays requires and integrated blend of business, financial, entrepreneurial and marketing skills. The Currie Group has a vast amount of experience, knowledge, resources and expertise to successfully broker lucrative deals between willing sellers and able buyers.
The auction Process:
- One of our experienced and expert sales agents will conveniently meet with the seller to assess the property
- The sales agent will prepare a valuation and discuss the expected price for the property
- A sole mandate is signed with a minimum reserve price and an auction date is set
- A details property information pack is put together by our marketing team for print and online media
- Actively market the property
- Conduct viewings and hand over all due diligence material and property information packs
- Auction reminders are sent a dew days prior to the auction
- Its auction time - Time to get the property SOLD
Private Sale VS Auction:
- Seller incurs indefinite costs of interest rates, insurance, rates and taxes until the property is sold.
- An endless stream of buyers, many of them ‘Sunday browsers’ view the property with no intention of buying
- Show days mean that week in and week you are going to have people coming in and out the property
- Sale is often contingent on the granting of a bond or other suspensive conditions.
- Back and forward negotiation
- Often seller put their property on the market to " test the market "
- An auction can facilitate the sale of a property in a matter of 28 days.
- Serious buyers with cash in hand congregate in one spot to make an immediate decision
- Minimum selling price is protected - The property is sold with a reserve price
- There are no negotiations and there are no suspensive conditions to the sale
- Buyers conduct their due diligence prior to auction
- Advertising is maximised in conjunction with our marketing partners
- The BUYER is responsible for the agents COMMISSION
- no hidden costs for the seller
- The auction environment causes excitement and a hype which often leads to higher price
- Auctions provide a real environment for committed purchasers to take immediate and decisive action.
Q + A
What are the risks associated with auction ?
- There is limited risk as the property will be sold with a reserve price.
What happens if we dont reach the reserve price ?
- If the highest price achieved on auction is less than the reserve price, The CG will bring the Seller the offer and the seller can then decide on whether to accept or reject the offer price. There is no obligation on the seller to accept a lower price then the reserve price what so ever it is 100% in the hands of the seller.
What are the terms and conditions of Auction ?
- On a successful bid, the purchaser will put down a 10% deposit and that balance of the purchase price will be paid within 45 Days. It should be noted that with an auction sale there are no suspensive conditions i.e: The sale its not subject the Purchaser obtaining a loan
Who Pays the commission ?
- The PURCHASER is responsible for the agents commission at the rate of 10% Plus VAT
Where will the auction be held ?
- Depending on the property type, location and other factors, The auction will take place at the property or alternatively together with other properties on an off site multiple auction
How will the Purchaser know what the price is ?
- At the end of the day the Buyer needs to do their homework on the property. Remember his value might be different to the market value maybe even higher. Our experienced agents will guide potential buyer with regards to the estimated value of the property.
Still not Convinced ?
Experience and Integrity
Founded in 1887 we have a vast amount of experience in valuating, marketing and selling immovable property = Professional expertise, Guaranteed integrity and a highly successful track record.
Seasoned professionals from the property industry with the ability to sell property by auction and or private treaty. Our expertise frequently sought by leading South African financial institutions and property developers.
True Market Value
We establish the true market value of your property – You will get weekly reports on the buyer response to the advertising.
Speed and Accuracy
sell your property faster than any other property sales method
Years gone by
Some years ago there was a bad connotation when you put your property on auction i.e. it was an urgent sale or forced sale. Nowadays the market is educated and internationally over 70% of all properties are sold via the auction route
Download The Rules of Auction View our current stock under Auction