FAQ’s

Can An Invoice Be Split?
Posted by Ronnie James Botes on April 9, 2018 Unfortunately we do not split invoices to reduce confusion and having multiple payments being made for a property/lot. The person who registered for the auction will be issued the full invoice and will need to pay it, if you would like to sell half of a lot to someone else at the auction you are welcome to do so once you have paid in full for the lot.  
What Is A “Shootout”? And How Does It Work?

Posted by Ronnie James Botes on April 9, 2018

A “Shootout” is a term used by auctioneers, where everyone that is interested in buying a property or movable asset is put into a pool (not literally a pool) where they can see how many others are interested in the asset in question. Each participant is only allowed to make ONE offer! and the highest after an allocated time will be sent through for acceptance,

For Example: The auctioneer will say to the participants that this is a shootout the highest offer made by Friday at 1pm will be sent through for acceptance, all other offers will be disregarded and not looked at.

In Which Case Can I Lose My Deposit?

Posted by Ronnie James Botes on April 9, 2018

You can only lose your deposit in the following circumstances:

  • If you cancel within the confirmation period of 30 days that the offer has been sent for acceptance.
  • If you don’t manage to get a loan for the amount of the offer subtracted by the deposit, for example your offer is R500 000, you pay a deposit of R100 000 (20%) and you do not get a loan for the R400 000 outstanding amount.
Can I Make Changes On An OTP(Offer To Purchase)?

Posted by Ronnie James Botes on April 9, 2018

No, you can not change anything in the OTP document that you are sent.
You may only fill in the information required by you, any OTP that differs will be disregarded and will not be sent through for acceptance.

Can An Offer Be Conditional?

Posted by Ronnie James Botes on April 9, 2018

Unfortunately no the offers cannot be conditional, you buy the assets “voetstoots”.

What Is A Patent And Latent Defect?

Posted by Ronnie James Botes on April 9, 2018

A PATENT defect is one which is obvious and easily seen such as a large and noticeable crack in the wall. A LATENT defect is one which is hidden and not easily seen. Examples of latent defects are hidden damp, leaking pools and structural problems which can’t be seen with the naked eye.

What Does “Voetstoots” Mean?

Posted by Ronnie James Botes on April 9, 2018

The Voetstoots Clause

This term means that property is sold ‘as it stands’ or ‘as is’. The “voetstoots” clause as it is commonly known, is found in most agreements of sale of immovable property.
The Protection of this clause gives to the Seller is that the Seller is not responsible for any defects which are in the property whether these be LATENT or PATENT.
The Purchaser buys the property in the condition in which it is found at the date of sale regardless of the condition of the Property.

Must I Pay A Deposit?

Posted by Ronnie James Botes on April 9, 2018

Yes, you are required to pay a minimum of 10% of your offer by 5pm of the day your offer is made.
Please note that if you pay a higher % as a deposit for example 20% you have a better chance of your offer being accepted.

How Long Does It Take For An Offer To Be Accepted/Declined?

Posted by Ronnie James Botes on April 9, 2018

It could take up to &plusMinus;30 Days for an offer to be accepted/declined.

What Are My Responsibilities As A Purchaser?

Posted by Ronnie James Botes on April 9, 2018

The Purchaser is responsible for inspecting the property and must be aware of the condition of the property as the Purchaser will have to “live” with any defects.
You are also responsible for paying the minimum 10% deposit of your offer on the day by 5pm.
You are also responsible for paying the remainder of your offer within 30days after acceptance of the offer

What Other Costs Are Applicable?

Posted by Ronnie James Botes on April 9, 2018

It all depends on what you are buying, whether VAT/TAX is applicable, you will also be paying the “buyers commission” unless otherwise stated.

How Can Payments Be Made?

Posted by Ronnie James Botes on April 9, 2018

We prefer to be paid via EFT, however should you decide to pay with CASH there will be a 1% handling fee. We do not accept any cheques whatsoever.

How Long Does It Take To Get My Deposit Back?

Posted by Ronnie James Botes on April 9, 2018

After you issue a refund form, the refund could take 5-7 business days.

Can I Register Online?

Posted by Ronnie James Botes on April 9, 2018

Unfortunately you can’t only in some rare cases we have it available.

What Paperwork Do I Need To Bring To The Auction?

Posted by Ronnie James Botes on April 9, 2018

You are required to bring all your FICA documentation with to the auction.

  • Copy of ID document (SA Citizens) / Passport (Foreign Nationals)
  • Proof of address less than three months old (for example utility bill, store account statement, bank statement with address, DSTV account, municipal letter) …
How Does An Auction Work?

Posted by Ronnie James Botes on April 9, 2018

You can find everything you need to know about our auctions in our Auction Process page.

Can I Register Online?

Posted by Ronnie James Botes on April 9, 2018

Unfortunately you can’t only in some rare cases we have it available.

How Much Do Assets Sell For?

Posted by Ronnie James Botes on April 5, 2018

There is no simple answer to this question.
Sale price depends on the merchandise (car,truck, stereo equipment, jewelry, etc).
Such things as condition, appeal and uniqueness all play a part.
Bids may also depend upon how badly different bidders want an item.

When Can I View The Lots?

Posted by Ronnie James Botes on April 9, 2018

We will specify when viewing can be done once auctions are advertised.

How Long After The Auction Do I Have To Collect My Assets?

Posted by Ronnie James Botes on April 9, 2018

In most cases it is 2-3 days after the auction, it is only longer if it is something larger that needs to be disassembled and will take days to move or unless otherwise stated.

What Is A Movable Asset?

Posted by Ronnie James Botes on March 5, 2018

The term “movable asset” is commonly used to refer to tangible assets that are movable.

For example: computers, paintings, jewellery, vehicles, etc. are all tangible assets that are characterised by their movability i.e. it can be moved around.

Can An Invoice Be Split?

Posted by Ronnie James Botes on April 9, 2018

Unfortunately we do not split invoices to reduce confusion and having multiple payments being made for a property/lot.
The person who registered for the auction will be issued the full invoice and will need to pay it, if you would like to sell half of a lot to someone else at the auction you are welcome to do so once you have paid in full for the lot.

Can Someone Bid On My Behalf?

Posted by Ronnie James Botes on April 9, 2018

Nobody can bid on your behalf as you need your FICA documentation in order to attend any of our auctions.

What Is A “Shootout”? And How Does It Work?

Posted by Ronnie James Botes on April 9, 2018

A “Shootout” is a term used by auctioneers, where everyone that is interested in buying a property or movable asset is put into a pool (not literally a pool) where they can see how many others are interested in the asset in question. Each participant is only allowed to make ONE offer! and the highest after an allocated time will be sent through for acceptance.

For Example: The auctioneer will say to the participants that this is a shootout the highest offer made by Friday at 1pm will be sent through for acceptance, all other offers will be disregarded and not looked at.

In Which Case Can I Lose My Deposit?

Posted by Ronnie James Botes on April 9, 2018

You can only lose your deposit in the following circumstances:

  • If you cancel within the confirmation period of 30 days that the offer has been sent for acceptance.
  • If you don’t manage to get a loan for the amount of the offer subtracted by the deposit, for example your offer is R500 000, you pay a deposit of R100 000 (20%) and you do not get a loan for the R400 000 outstanding amount
Can Someone Submit A Higher Offer Than The Final Bid After An Auction?

Posted by Ronnie James Botes on April 9, 2018

Yes, it is possible that someone can submit a higher offer than the winning bid after the auction.
In the event that this happens the original final bidder has the chance to match the highest offer made after the auction.
If the original final bidder matches the new highest offer after the auction, then he/she will be awarded the property.(provided you pay the difference of the minimum 10% deposit of the new highest offer)

How Can I Make An Offer On A Property?

Posted by Ronnie James Botes on April 9, 2018

In order to make an offer on a property you will have to e-mail info@dynamicauctioneers.co.za with the property in question.

Do You Guarantee Vacant Occupation?

Posted by Ronnie James Botes on April 9, 2018

Unfortunately not, there have been some cases where there are illegal occupants in the property and refuse to move out, these illegal occupants are the Purchasers responsibility to evict.

Can I Make Changes On An OTP(Offer To Purchase)?

Posted by Ronnie James Botes on April 9, 2018

No, you can not change anything in the OTP document that you are sent.
You may only fill in the information required by you, any OTP that differs will be disregarded and will not be sent through for acceptance.

Can An Offer Be Conditional?

Posted by Ronnie James Botes on April 9, 2018

Unfortunately no the offers cannot be conditional, you buy the assets “voetstoots”.

What Is A Patent And Latent Defect?

Posted by Ronnie James Botes on April 9, 2018

A PATENT defect is one which is obvious and easily seen such as a large and noticeable crack in the wall.
A LATENT defect is one which is hidden and not easily seen. Examples of latent defects are hidden damp, leaking pools and structural problems which can’t be seen with the naked eye.

What Does “Voetstoots” Mean?

Posted by Ronnie James Botes on April 9, 2018

The Voetstoots Clause

This term means that property is sold ‘as it stands’ or ‘as is’. The “voetstoots” clause as it is commonly known, is found in most agreements of sale of immovable property.
The Protection of this clause gives to the Seller is that the Seller is not responsible for any defects which are in the property whether these be LATENT or PATENT.
The Purchaser buys the property in the condition in which it is found at the date of sale regardless of the condition of the Property.

Must I Pay A Deposit?

Posted by Ronnie James Botes on April 9, 2018

Yes, you are required to pay a minimum of 10% of your offer by 5pm of the day your offer is made.
Please note that if you pay a higher % as a deposit for example 20% you have a better chance of your offer being accepted.

How Long Before An Auction Must I Be At The Property?

Posted by Ronnie James Botes on April 9, 2018

In most cases you are required to be at the property an hour before the auction commences unless otherwise stated for bigger auctions for example a hotel.

How Long Does It Take For An Offer To Be Accepted/Declined?

Posted by Ronnie James Botes on April 9, 2018

It could take up to ±30 Days for an offer to be accepted/declined.

Who Is Responsible For The Property?

Posted by Ronnie James Botes on April 9, 2018

From the date of acceptance the new owner is responsible for the property and all costs.

How Do I Get Access To The Property I Am Interested In?

Posted by Ronnie James Botes on April 9, 2018

In order to view the property you can e-mail info@dynamicauctioneers.co.za and arrangement will be made

How Do I Get Access To The Property I Am Interested In?

Posted by Ronnie James Botes on April 9, 2018

In order to view the property you can e-mail elma@dynamicauctioneers.co.za and arrangement will be made.

What Are My Responsibilities As A Purchaser?

Posted by Ronnie James Botes on April 9, 2018

The Purchaser is responsible for inspecting the property and must be aware of the condition of the property as the Purchaser will have to “live” with any defects.
You are also responsible for paying the minimum 10% deposit of your offer on the day by 5pm.
You are also responsible for paying the remainder of your offer within 30days after acceptance of the offer.

What Other Costs Are Applicable?

Posted by Ronnie James Botes on April 9, 2018

It all depends on what you are buying, whether VAT/TAX is applicable, you will also be paying the “buyers commission” unless otherwise stated.

How Can Payments Be Made?

Posted by Ronnie James Botes on April 9, 2018

We prefer to be paid via EFT, however should you decide to pay with CASH there will be a 1% handling fee. We do not accept any cheques whatsoever.

How Long Does It Take To Get My Deposit Back?

Posted by Ronnie James Botes on April 9, 2018

After you issue a refund form, the refund could take 5-7 business days.

How Do I Know What The Highest Offer Is On A Property?

Posted by Ronnie James Botes on April 9, 2018

You can see the highest offer on a property by clicking on the property and in the 1st description of the property you will see the highest offer.

Can I Register Online?

Posted by Ronnie James Botes on April 9, 2018

Unfortunately you can’t only in some rare cases we have it available.

What Paperwork Do I Need To Bring To The Auction?

Posted by Ronnie James Botes on April 9, 2018

You are required to bring all your FICA documentation with to the auction.

  • Copy of ID document (SA Citizens) / Passport (Foreign Nationals)
  • Proof of address less than three months old (for example utility bill, store account statement, bank statement with address, DSTV account, municipal letter) …
Can I submit an offer before auction?

Posted by Ronnie James Botes on April 5, 2018

You can find everything you need to know about our auctions in our Auction Process page.

How Much Do Assets Sell For?

Posted by Ronnie James Botes on April 5, 2018

There is no simple answer to this question.
Sale price depends on the merchandise (car,truck, stereo equipment, jewelry, etc).
Such things as condition, appeal and uniqueness all play a part.
Bids may also depend upon how badly different bidders want an item.

What Is An Immovable Asset?

Posted by Ronnie James Botes on March 7, 2018

Immovable assets are immovable objects, an item of property that cannot be moved without destroying or altering it – property that is fixed to the earth, such as land or a house.