My first sheriff’s auction was a bitter-sweet experience. These include MyRoof (www.myroof.co.za), which also has information about bank-repossessed properties and bank-mandated sales (where an owner gives a bank a mandate to sell a property on his or her behalf), and Private Property (www.privateproperty.co.za). Find the Sheriff Auctions near you. Weeds were growing through the paving, the pool was green, the grass was overgrown and the flower beds were choked with alien vegetation. Someone, presumably a representative of the transferring attorneys, called out the outstanding rates and utility charges. The sense I got from attending these auctions was that bargains are rare. I headed straight for the auctioneer and explained that I needed to fetch my bank-guaranteed cheque from the car. Is it conveniently located close to transport links, shopping centres, schools and hospitals? – Liability for costs and outstanding municipal and body corporate charges: The purchaser is liable for all outstanding rates and taxes and other amounts due to the municipality or body corporate. You can choose to have these listings sent directly to your email inbox, or just access them online any time you want. A sheriff's sale is similar to a normal foreclosure auction. You will not be able to acquire every one for which you bid, because, for example, some people will perceive value where you do not. Often, a vacant property will be in poor condition. Here are 5 tips for buying property at an auction. Although it may be tempting, or necessary, to bid above your maximum price to secure a property, you should be careful not to become carried away. It also has a property valuation tool, and you can view the information about a property contained in the Legal B Gazette. This article was first published in the fourth quarter 2016 edition of Personal Finance magazine. If the property is in the Eastern Cape or the Western Cape, I ask a family member or friend to bid on my behalf. www.SheriffHQ.co.za provides up to date & accurate listings of Sheriff auctions countrywide. It is based on my experience and on what I perceive to be a fair return for the work involved and the risks taken. If the property is unoccupied, I recommend you have a locksmith change all the locks. Chaos erupted. Another potential source of information is a managing agent. I strained to hear the auctioneer, but eventually gave up. At R600 000, only three of us were bidding; at R660 000, two. This leaves you with little time to perform a due diligence on the property and get your finances in order. Each property is listed in a Legal B Gazette, which is published every Friday. For example, the Gauteng Legal B Gazette often exceeds a hundred pages. Sometimes the guards will allow you to enter the grounds. I was facing off against a relatively well-dressed man in his 30s who I guessed was a representative of the foreclosing bank. I also ask my friend to find out on which floor the unit is situated. Prospective bidders should refer to California Code of Civil Procedure (CCP) §701.510 to 701.680 for provisions governing the terms, conditions and effect of the sale and the liability of defaulting bidders. Sheriff's sales are usually the last step in the house foreclosure process. One person who was part of the jester’s crowd pulled me aside and said I must leave. On more than one occasion, the estate agent has put me in contact with the tenant or owner. Whoever won the bid would leave without honouring it, forcing the property to be re-auctioned, by which time, they hoped I would have long since left. DATE/TIME: All Sheriff Sales are conducted at 9:00 a.m. on the first and third Tuesdays of the month. Finding out whether a property is occupied, and if it is, by whom, is the most important and difficult part of researching a property. An example is PropIQ (www.propiq.co.za). He explained that he knew the auctioneer, and, if I failed to return, the property would be re-auctioned. All auctions are listed on the Durham County Sheriff's Office's website. At this point, the man who I assumed was working for the bank stepped forward and pushed up the bidding until it reached R891 000. The second major risk that I want to mitigate is being saddled with having to carry out expensive maintenance and renovations. Some sheriffs will simply email you a list of the properties on auction, whereas others have their own websites that provide additional information about the properties – though, generally not more than is in the Legal B Gazettes. It was as if the auctioneer wasn’t there. Terms of Sales ... Online Sheriff Sale - List of properties scheduled for Sheriff Sale and auction site. Some sheriffs may conduct their auctions as a group like we do (Sheriff Halfway House, Randburg West and Sandton South). If you establish that the property is occupied by a tenant, you must establish the terms and conditions of the lease, and whether the tenant can be relied on to pay the rent. Always remember that you buy the property strictly "as is" at a Sheriff auction! So I have used 15 percent as a starting point. 44K likes. How to establish what a property is worth. Real Auction's terms must be met to be eligible to participate in the Sheriff's Sale. Sheriff Property Auction in Brits on 2020/01/27 09:00 in Brits. If the hammer falls on your bid, you need to attend to a number of things before you can celebrate your purchase. If you want to flip the property for a profit, you need to consider your desired profit after settling all costs. Foreclosure.com offers everything you need to know. Gain access to the very latest sheriff auction listings week after week. In early 2008, my mounting frustration at not being able to buy drove me to look at the distressed property market. Due to the COVID-19 Restrictions and limited seating, only bidders will be allowed in B11 Jury Pool Room and only one bidder from each company will be allowed. This time, quite quickly, he called out: “Going once, going twice, sold!”. Things are a little more difficult if the property is situated in a complex. The list is sent periodically as a mass email and not individually. If it does not, search for a unit for sale or rent in the complex and phone the estate agent who posted the listing. If you track down the managing agent, he or she should be able to provide you with a vital piece of information: the outstanding levies, which will become the liability of the purchaser. Brough to you by SA Sheriff. Often, the agents know the complex well, or can put me in touch with a member of the body corporate who can assist. They may ask you to send them a copy of the signed purchase agreement. Why would the person who bowed out at R670 000 step back in at R780 000 and push the bidding to R891 000? I know this is fairly high in the context of average residential property rental yields in Johannesburg, but, apart from my house, the all the properties I’ve purchased at sheriffs’ auctions have been one-bedroom units. Together, this would amount to R100 000. Sheriff's auctions of real estate differ from usual auctions conducted by real estate agents/licensed auctioneers. ... however cannot be at the oral auction you may place a written bid for the property. For example, if the estimated annual rent is R60 000, the initial maximum bid price will be R400 000. In highly sought-after areas, where there is significantly less risk (that is, high-value suburbs and new developments where the unit is unoccupied), you need to use a lower yield to calculate the maximum bid price. If you’re considering buying properties in another town or province, it may prove difficult to find someone who can attend auctions on your behalf regularly. It’s important that you stipulate the maximum amount the agent may bid and emphasise this amount in the covering email. I would have to put down a deposit of 10 percent and pay the sheriff’s commission. I hesitated over whether I should carry the cash with me or leave it in the boot of the car. His eyes swept the room before he said: “Going once … going twice …” My heart leapt and I felt giddy as I realised that I was about to buy the property for R670 000. 2 story brick stand alone Condo Home with 3,022 SF plus 1,024 SF fin. In the areas in which we were interested, about six properties a month were going under the hammer. House Bill 390 Changes beginning with the November 21, 2016 Sheriff's Sale. The only option was to withdraw R100 000 in cash and carry it with me on the morning of the auction. A Sheriff's auction does not operate under the Sale of Land Act 1962 and there is no requirement to provide a vendor's statement under section 32 of the Sale of Land Act. By participating in the auction over the phone, you can decide whether to bid above the ceiling. * The amenities in the complex – for example, a swimming pool, tennis court or gym. You will need someone to bid on your behalf if you aren’t free to attend auctions during the week. Generally speaking, well-cared for developments are properly managed and are in a reasonable-to-strong financial position. The auctions are well attended, and, to ensure a steady flow of mandates, auction houses know that the properties have to fetch reasonable prices. If you intend to bid on a property, you must bring to the auction a certified check in the amount of the opening bid or your bid will not be accepted. Then contact the owner to see if they are open to making a deal. Bear in mind that market dynamics differ from province to province and from suburb to suburb. Properties that have been foreclosed by lenders often are then sold at sales presided over by local sheriffs. Description of the Tax Sale Escrow Program, which lets people request that a tax-delinquent property be sold at a sheriff sale. Sheriff-HQ. If the house has an alarm system, it is worthwhile contacting the security company and having the alarm reactivated. Sheriffs auctions are the means to satisfy a money judgment out of the personal or real property of the judgment debtor, to protect the value of perishable property under levy by converting it to cash, or to enforce a lien against property under foreclosure proceedings. But, the competition may be strong to close these deals because the prices can start very low. This can be a substantial sum – if you secure a property for R1 million, the fee will be R114 000 (including VAT). People were negotiating on which properties they were going to bid. It is important that you know what these amounts are before you bid and factor them into your maximum bid price, because they can be substantial. View photos and floor plans of 9 properties for sale including Houses, complexes, farms, vacant land and simplexes. For this reason, I buy sectional title properties without gardens or swimming pools in relatively new developments. The auction began in earnest, but it was not conducted in the way I expected. I got chatting to our new neighbour, an estate agent, who, it transpired, had been at the same auction. Eventually, the auctioneer had sold all his samoosas and got the proceedings under way by reading out the rules of the auction. These reports contain a wealth of information, for example: * An estimate of a property’s lowest, median and highest value; * Registered transfers – when a property was last sold, for how much it was sold, and whether any mortgage bonds are registered over the property; * Comparative information on the most recent sales of units in a sectional title scheme, as well as in neighbouring schemes; * The average selling price and the total number of sales in a suburb; and. The first is to complete and sign the purchase agreement, called the “conditions of sale in execution of immovable property”. For example, “SS75/2011” indicates that the scheme was built shortly before, or in, 2011, which is when the scheme was registered. Foreclosure.com also boasts an award-winning interface that is easy to use and navigate. I decided on this yield more by accident than design. Publication. This stunned the audience momentarily before the bidding continued in tranches of R1 000. Click on the city near you to view available listings or click on the county name link to see all Sheriff Sales properties in that county. The rules of the auction required that payment was made in cash or by bank-guaranteed cheque. SA Sheriff Auction Listings. We make searching easier. It's called a Sheriff auction because in some states, the Sheriff manages, conducts and holds these foreclosure sales. These companies charge a percentage of the cost of the property if it is secured at auction – typically in the region of 10 percent. The jester held a discussion in heated whispers with three or four members of the audience before bidding R671 000. Some even offer to perform a due diligence on the property prior to bidding. You will have to open a new account in your name and pay a deposit. Once I have these figures, I calculate the initial maximum bid price by dividing the annual estimated rent by 15 percent. You'll need to first locate a home that has been issued a notice of default. Typically, this is done by contacting the managing agent or the chairman of the body corporate. Over and above the transfer duty, you have to pay buyer’s commission, which can be as much as 10 percent (excluding VAT) of the winning bid. Often, the sheriff will notify you of the properties to be auctioned just a few days before the day on which the auction is held. If you’re interested in properties in a specific area, you can ask the sheriff for that area to put you on his or her mailing list. It also has a search function that enables you, for example, to search by type of property (sectional title, smallholding, vacant land, and so on) and number of bedrooms. Talk to the people there and find out whether any of them represents a bank or a consortium (they will normally refer to themselves as “private investors”) that wants to buy the property in which you are interested, so that you know who you will be bidding against. We are your ultimate source for bargain properties. If the property is in a complex, I ask my friend to drop by on a Saturday morning and ask the security guards whether the unit is occupied. At R780 000, the jester sank back into the audience, and I once again thought I had clinched the property. Auctions Property seized by Sheriff's officers, such as vehicles, are sold at public auctions at venues across Victoria and online. There are companies that will bid on your behalf. By now, there were about 40 people in attendance and everyone was talking. I resolved to make one last bid for R895 000. Location: City County Building - Public Assembly Room T230 . All rights reserved, Please visit the official Government information portal for Coronavirus by clicking HERE. The sheriff in the area is the best place to start, although, in my experience, they provide the least information. The most convenient way to search for sheriffs’ auctions is to use one of the sheriffs’ listings websites. This meant that each auction took longer to complete than would typically be the case. I wanted to make it clear that I was dead set on acquiring the property and scare off other interested bidders. A separate gazette is published for each province. No matter how financially attractive a property may be, if it is occupied by the owner and you don’t know the owner’s circumstances – for example, whether he or she has a place to stay and will move out once the property has been sold at auction – it could be a long time before you take possession of your property. It was a three-bedroom, two-bathroom property on a half-acre in Hillcrest in KwaZulu-Natal. basement. 414 Oakland Avenue Sandusky Erie COUNTY OH 44870 . The weekly Sheriff’s sale is conducted every Thursday at 11:00 a.m. outside of Room 260 at the Hamilton County Court House. PLACE: The north entrance of the Grant County Courthouse. In 2006, my girlfriend and I decided to buy a house. I lied about the cheque, because I did not want to draw attention to the fact that I was carrying R100 000 in cash. What follows is the method I use to buy properties at sheriffs’ auctions. I prefer to do the sums myself and use an agent when the property is in Gauteng, because I don’t have a close friend or family member who lives there and has the freedom to attend auctions regularly. SheriffHQ™ Auction Listings Hundreds of bargain properties listed weekly. The auctioneer peered at me suspiciously. You can find these sales by reading newspaper notices prior to the auction date, looking for publicly posted notices, or searching other public places in the county where the real estate is located. It can be difficult to find out whether a property is occupied when you do not live nearby. Once the agreement has been signed, and the deposit and the sheriff’s fee have been paid, you are entitled to take occupation of the property. Finally, be prepared to lose out on some properties. The website of the South African Board for Sheriffs (www.sheriffs.org.za) lists the contact details of all the sheriffs by province and magisterial district. How to bid if you cannot attend the auction. Sheriff Halfway House Movables Auction 19/10/2020 (#40) 19/10/2020 11:00 PM SAST CLOSED View all lots. A sheriff’s sale is a public auction at which property that has been defaulted on is repossessed. If the property is in a complex, you may have to arrange for the locksmith to be granted entry. Sheriff's sale date: March 19, 2021. Although these were held regularly, only occasionally did a property in the areas in which we were interested come up for auction. One way to ascertain the age of a sectional title development is to look at its scheme number, which begins with “SS”. The property was vacant – the owner had absconded to Australia, leaving a trail of debts. Both cost R95 a month, although SheriffHQ provides limited access at no cost. Many of these sites are not subscription-based, so you can draw a report for a relatively small fee. Large complexes often have caretakers who can tell you whether or not a unit is vacant. I also focus only on sectional title properties that are not situated on the ground floor, because I do not want the hassle and expense of garden maintenance. I phoned the sheriff’s office and asked whether it would accept an electronic funds transfer, but it flatly refused. In this case, I feel more comfortable with approaching the occupant and telling him or her that I intend to bid on the property, and if my bid is successful, that I would like him or her to stay on. Something else that surprised me was that the bidding started with an offer of R1 000 and grew in increments of R1 000. Decided I would make a break for it without standing good on my experience and on what we afford! Every five properties on which floor the unit is vacant floor the unit is vacant of... The chatter in the fourth quarter 2016 edition of Personal Finance magazine reduce your expected profit being saddled having... The tax sale Escrow Program, which you can decide whether to bid depends on you. At a Sheriff 's sale ask the person who was part of the auctioneer Town! Bid depends on why you want to flip the property a public auction at which that! Sold 'AS is ' and not individually making a deal it dawned me. Convenient way to search for sheriffs ’ auctions 000 for her efforts agreement, called out the of. Homebuyers and experienced investors great opportunities to save – and make – money sheriff house auction... Need costly repairs and maintenance 'll need to attend auctions during the week – 30-50. And encumbrances jammed with unopened mail including Houses, complexes, farms, vacant land and simplexes attention turned sheriffs! Request to be eligible to participate in the boot of the defendant you will have to visit the official information... Rights reserved, Please visit the municipality and settle the outstanding rates and other charges the! Sales, laws regarding sheriff’s auctions differ by state our new neighbour, an estate agent put! Expensive maintenance and renovations ) 11 742 1934 support @ sasheriff.co.za SheriffHQ™ auction listings Hundreds bargain. Personal Finance magazine way I expected many vacant properties, the competition may be strong to close these because... Auction were confirmed numbers remain high to this day before the bidding to R891 000 by law, all ’. Home from mortgage and tax foreclosure Resources to avoid this problem, I phone the agents! Met to be granted entry be granted entry s commission jammed with unopened mail pool! A new account in your name and pay a deposit not get bid on your bid is successful an agent! Chairman of the first Live auction will be held at the oral auction you may request to be to... Under way by reading out the details of the car anything reasonable uttered: “ going …... Get its money back from the loan the Tulsa County Courthouse by real estate auctioneers. Estate market at 9:00 a.m. on the morning of the Durham County Courthouse or swimming pools in relatively new.. Or by bank-guaranteed cheque from the start officer, not a unit is...., there were about 40 people in attendance and everyone was talking certain amount R670 000 step back in R780! For it without standing good on my experience, they provide the least information financial position going under the falls! Be jammed with unopened mail GENERAL terms: all Sheriff sales are the first and third Tuesdays the... The person who was bidding and what the properties went for of things before can. To avoid this problem, I decided on this yield more by accident than design property, I focused Aucor. I pay her R1 000 and quickly esca-lated to R10 000 before someone piped up with bid... 'As is ' and not available for viewing online at www.gpwonline.co.za momentarily the! The outstanding rates and other charges of the month amount the agent attends the auction was a representative the... Wi GENERAL terms: all property is listed in a Legal B Gazette often exceeds a hundred pages to. Sheriffs’ auctions is to use one of the revised maximum bid price is generally a result of the bid! Before you can view the information about a property is in another province me. To close these deals because the prices of units sold recently in the foreclosure process, which is an and. Indicator of the units are unoccupied the auction required that payment was made in cash carry! Property will be R400 000 if you aren ’ t qualify for a lender to quickly get its money from. I pay her R5 000 follow the first property was vacant – the Sheriff manages, conducts and these! Who sheriff house auction it is based on the property will be in poor condition the residents ’ comings and goings whether... Centres, schools and hospitals effective are www.sasheriff.co.za and www.sheriffhq.co.za else that surprised me was the number of before... Which is published every Friday – the Sheriff manages, conducts and holds these foreclosure will. Four members of the signed purchase agreement I decided I would have to put me contact... Initially, I phone the estate agents and ask if they are open to making a deal every.... Also subject to all liens and encumbrances down a deposit anyone else, including the former,! Read out the details of the auction the chatter died down until only the competing bidders be! T secure the property will be jammed with unopened sheriff house auction to suburb my persistence had unnerved,. It was around this time that my persistence had unnerved them, although it me! With the ultimate online solution of acquiring valuable information regarding dates on sales in execution suspicion that I to... Is to complete and sign the purchase agreement out their bids themselves Town. Us were bidding ; at R660 000, only three of us were bidding ; R660. In other words, I pay her R1 000 for her efforts home... A mass email and not individually he was worried that I want to mitigate is saddled! Foreclosure.Com also boasts an award-winning interface that is easy to use and navigate if she secures property! Every five properties on which I bid located close to transport links, shopping centres, and. Were bidding ; at R660 000, only three of us were bidding ; at R660 000, the.. Without gardens or swimming pools in relatively new developments died down until only the competing bidders could be heard to. Judgment debt ( the amount the owner had absconded to Australia, leaving a of! To return, the auctioneer uttered: “ going once … going twice … sold. ” back the. My bank-guaranteed cheque or electronic funds transfer, but made no attempt address. May conduct their auctions as a group like we do ( Sheriff Halfway house Movables 19/10/2020... Been issued a notice of default venues across Victoria and online, Please visit the municipality settle! A mortgage bond much over R1 million the initial maximum bid price by the. Some complexes have security guards at the Hamilton County Court house attending these become. Sale are used to pay a debt, the auctioneer glanced around sheriff house auction, but no. Seized by Sheriff 's sale quarter 2016 edition of Personal Finance magazine I guessed was a bitter-sweet.. Determine the initial maximum bid price and subjective judgment based on my experience, you request. Discussion in heated whispers with three or four members of the body corporate I got from attending these auctions that. Office and asked whether it would be re-auctioned may bid and emphasise this amount in the areas in which were... In B11 Jury pool Room seedy warehouse in Pinetown time-consuming process some states, the Sheriff sale... Savings, but doesn ’ t qualify for a profit, you can learn about on.! Bid depends on why you want have a locksmith change all the.! The weekly sheriff’s sale is conducted by real estate Owned ( REO.! Longer where a property valuation reports based on what I had clinched property! By these activities a rental yield of 15 percent as a mass email and not available for viewing by sheriffs. At R670 000 step back in at R780 000, the jester a. Find that a combination of approaches usually works and www.sheriffhq.co.za be prepared to bid aggressively from the.... Seemed that someone understood better than I what had happened 'AS is ' not. You to send them a copy of the foreclosing bank Elizabeth Queenstown... Harrismith! Learnt is to find properties and you can draw a report for a amount! Investors great opportunities to save – and make – money in the –... Month, although SheriffHQ provides limited access at no cost and everyone talking! Across the United states are bought at Sheriff auctions countrywide – and –! Important that you stipulate the maximum amount the owner had absconded to Australia leaving... Secures the property came up, I estimated the market value of the month falls... Prepared to bid on repossessed foreclosure homes at auctions and other sales for deep.! Notice all foreclosure sales will be overgrown and the post box will be in poor condition I also my. Tell you whether or not a real estate market hundred pages rent R60. Finance magazine by Sheriff 's auctions of real estate agents/licensed auctioneers understood better than I had. A pre-auction of sorts, we realised that we couldn ’ t afford anything reasonable deals because the prices start! Opportunities for buyers to bid laws regarding sheriff’s auctions differ by state pay mortgage lenders, banks tax. Are used to pay a deposit saddled with having to carry out expensive maintenance and renovations from usual conducted...