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Guidelines for Online Auction

  1.  These Guidelines are for the Instant Property Online Auction platform. The Property Auctioneer sets terms on each property being auctioned, please refer to   "documents" on each property ad. Instant Property is not and shall not be held liable or be responsible for amongst other things, any cause of action whatsoever arising out of any actions or omissions whatsoever of the Property Auctioneer and/or its authorised agents and/or any 3rd parties acting on its behalf, on this platform and the Property Auctioneer and any user of this platform patently agrees to same. IPR is not the vendor of the lots displayed on the online auction website and assumes no responsibility for the items in any respect whatsoever. For further details on the non-liability of Instant Property, please refer to the rules of auction and terms and conditions as per point 3.4 below.
    1.  All prices exclude VAT. Kindly add 15 VAT on all prices.
  2.  Location: or on the Instant Property Auction Smartphone and Tablet Applications.
    1.  Login or Download: login to the Instant Property Auction website: or download the smartphone and tablet app on the Apple store and Google Play store. Search "Instant Property Auction”.    
  3.  Requesting  Bid Access
    1.  To bid on a Lot, click on the button "Request Bid Access" button and an Instant Property Auction representative will be in contact with you to request that you to upload/e-mail your valid FICA documents.
    2.  Registration Fee: May be charged by the Property Auctioneer (Refundable to unsuccessful bidders) by EFT or by adding and charging your credit card details on your related platform.
    3.  Once received you will get access to the bidding page and you will be able to bid.
    4.  Upon acceptance of the website or application terms and conditions, all buyers will have acknowledged and accepted the Terms and Conditions set out in the Rules of the Property Auction which are listed under "documents  " on every property ad. These rules may differ according to each Property Auctioneer of the property.
  4.  Post-Auction Procedure
    1.  The winning bidder is the person who has bid the highest amount and their Registration Fee (if charged by the auctioneer- please refer to "documents" on each property ad) will be held by the Property Auctioneer. The unsuccessful bidders will have their bidding registration fee refunded.
    2. The winning bidder will be notified and a deposit % (charged by the auctioneer- please refer to "documents"  on each property ad) of the hammer price is payable at the fall of the hammer. The deposit is payable by way of a Bank Guaranteed cheque or electronic fund transfer. The deposit and the buyer's premium amounts are deposited into the Property Auctioneer's Auction Trust account.
  5.  Confirmation period: 7 Business days.
  6.  Guarantees: Balance of the purchase price payable within 21 business days after confirmation of the sale.
  7.  The bid price excludes the buyer's premium which is payable over and above the hammer price. 

Please note: Instant Property Auction has the right to regulate the bidding and to bid on behalf of the seller at the online auction up to (but NOT exceeding) the reserve price as mandated by the seller. When the auction ends, the successful bidder will sign the Conditions of Sale.