Attorneys, Notaries & Conveyancers

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January 2025.  

THE LEGAL ISSUE

 

JANUARY 2025

 

PROPERTY

 

Property Auctions in South Africa

 

Auctions are rapidly becoming a popular method to buy and sell immovable property in South Africa. This method has been historically used by financial institutions to assist owners of immovable property to sell when their current bond has fallen into arrears and the financial institutions are unable to recover these funds from the current bond holder. 

In the prevailing market conditions, there is an upward trend for owners of residential and commercial property to make use of auctions to speed up the process of finding a suitable purchaser, alleviate additional costs when selling their immovable property and maximizing their purchase price.

The purchaser takes full responsibility to acquaint themselves with the property, and the inventory of the property, prior to bidding at the auction. All properties are sold voetstoots and the seller would not be legally responsible for fixing issues raised by the purchaser.
Meet Our EXCO Team
Yvonne Boden

Yvonne Boden

Yvonne joined Garlicke & Bousfield in 1988 to serve her articles and was offered a directorship in March 1991. She heads up the Estates & Trusts Department and currently serves
Simphiwe Maphumulo

Simphiwe Maphumulo

Simphiwe joined Garlicke & Bousfield in 2006 and was appointed as a Director in the Property and Conveyancing Department in 2008.
Graeme Palmer

Graeme Palmer

Graeme graduated from the University of KwaZulu Natal with a BSocSci and LLB, thereafter completing a Certificate in Advanced Taxation and an LLM with the University of South Africa.
Howard Stephenson

Howard Stephenson

Howard was appointed as a Director in the Corporate & Commercial Department at Garlicke & Bousfield in 2013 and as head of this Department in 2014. He specialises in commercial,

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