Private Property Auctions

1. Property on Promotion
   
   Two weeks before bidding opens on any of the properties on our website, we update the property listing details with bidding dates. You can have a look at the Video Tour and/or Virtual Tour on the listing to get a better idea of the property features.
   
   Plus, the owner will have the property On Show, so you can check out the property for yourself. If you have questions to ask, but aren’t nearby, you can use the online Q&A system available on the listing to ask the owner direct questions about the property.
   
   Private Property also sends out weekly Auction Updates with the latest properties on auction on our website, so you get the heads up in plenty of time.
   
   
2. Auction Opens Wednesday at 8.00am
   
   All Private Property auctions open for bidding on www.bidorbuy.co.za at 8.00am on a Wednesday morning. You can check out the latest bids on our website, or you can click through to the auction property on bidorbuy’s website at any time to get in on the action.
   
   
3. Auction Closes same day, Wednesday at 8.00pm
   
   Once the auction opens, bidding remains open for 12 hours, closing at 8.00pm. The property is deemed sold to the highest bidder, provided that the highest bid meets or exceeds the initial Reserve Price put down by the seller.
   
   
4. Finalising the Sale
   
   Once the auction ends, a Private Property representative will contact the buyer to meet with the appointed attorney and seller to wrap up the sale. We can even help with bond finance, if the new buyer needs a home loan.

Any questions? Contact us and we’ll get back to you pronto.

1. Register
   
   In order to get your hands on that special property you’re after, you’ll need to register with Bidorbuy as a user, and be logged in to enter any bids.
   
   
2. Get Instant Updates
   
   Bidorbuy will keep you updated on the progress of the bidding, so you don’t have to stay online. You can enter a new bid at any time once you’re logged in.
   
   
3. What do Bidorbuy need from you?
   
   Private Property will contact you asap to meet with the appointed attorney and seller to wrap up the sale. We can even help with bond finance, if you need a home loan.
   
   If your bid isn’t successful, then no money is deducted from your account (which means you don’t pay a cent).
   
   However, if you win the auction, but you don’t proceed with the sale for any reason, you will forfeit the deposit.

Any questions? Contact us and we’ll get back to you pronto. 

You need to update your profile by ticking the box that says you’re interested in auctions, and we’ll send you weekly updates of all of our auction properties so you don’t have to keep searching the website to find them.

Not registered with Private Property yet? Register your profile for free and receive all the latest property auction news, and more.

Any questions? Contact us and we’ll get back to you pronto.

To get your property auctioned with Private Property and Bidorbuy, you need to get your property listed for sale on our website! Then our consultant will visit your house to do the listing, explain the process in more detail and fill in the necessary paperwork (terms and conditions etc, but they aren’t too hectic).

You need to purchase a Full House Package to qualify, or purchase a Virtual Tour package and add on the Auction Feature. Interested? List my property now.

If your property is already listed on our website, and you want to take advantage of our newest feature, you can simply upgrade your listing to include an Auction Feature. Interested? Contact us to upgrade your listing now or call us on 083 913 1000.

Any questions? Contact us and we’ll get back to you pronto.

1. Property on Promotion
   
   Once you’ve chosen to Auction your property, we need to promote it to as wide an audience as possible.
   
   Private Property does loads to help you:
   
   
   • A full Two Weeks before bidding starts, we remove the selling price from your listing and give details of bidding dates
   • We load your property onto Bidorbuy’s website for added exposure.
   • We even send out a weekly Auction Updates to everyone on our database who’s interested in Auctions
   • Plus we’ll hand out flyers and do press advertisements for all of our auctioned properties, to add to the hype.

What do you need to do?

• The only thing we need you to do is have as many show houses as you can. Why? It gives people the opportunity to have a look at the property before the auction, so they can decide what value they’re prepared to bid up to, etc.
• Also, it helps to check your property listing on our website regularly, just in case any buyers who can’t make your show house post questions there for you to answer

2. Auction Opens Wednesday at 8.00am
   
   Bidding always starts on a Wednesday morning at 8.00am. We’ll keep you updated as often as we can, and you can also monitor the progress of the auction online yourself. You’ll get all the excitement of an on-site auction, without the noise.
   
   
3. Auction Closes on the same day at 8.00pm
   
   Once bidding closes, the person with the highest bid wins. It’s almost that simple, anyway...
   
   If the auction is successful, (i.e. the highest bid exceeds or equals the reserve price) we’ll arrange an appointment with you, the buyer of the property and an attorney to conclude the sale agreement. We’ll even offer assistance with a home loan to your buyer through our sister company, iLoan, just to make sure your sale runs as smoothly as possible.
   
   If the highest bid is not the same as or higher than your reserve price, the auction is not concluded. So it’s really important for you to think carefully about the market and your reserve price before the bidding opens.
   
   Interested? You can either list your property now or contact us to upgrade your current listing to include an Auction feature.

Any questions? Contact us and we’ll get back to you pronto.