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Auction Process
 

Learn how an auction conducted by Michael James Organisation works, how to bid sucessfully and what advantages a Michael James Organisation auction offers you as buyer of property. Find out how Michael James Organisation will assist in providing the timely information you will need to evaluate a purchase.

 
ADVANTAGES

Thinking of buying property at auction? That's great! You'll find that an auction conducted by Michael James Organisation offers you several advantages as a buyer:

 
COMMITMENT TO SELL

When you attend a Michael James Organisation auction, you'll know that the seller is committed to selling the property on auction day.

 
NO RISK OF OVERPAYING

With traditional property sales, many buyers of luxury homes, farms, apartments and other properties worry that they will pay too much. However, with an auction, the visible market value is established. So if you're the successful bidder, you'll know that your price is a fair market value.

 
SERVICE

Michael James Organisation will work closely with you in the days leading up to the sale, by providing you the information you need to evaluate the property and are prepared to make sound decisions on the auction day.

 
AUCTION DAY
We provide a large staff of professional auctioneers and auction clerks to assist you in any way throughout the bidding and buying process.
 
INTEGRITY
As a Buyer, it is important for you to know that at an auction conducted by Michael James Organisation , the Seller is committed to selling the property on auction day. Some auction companies have engaged in deceptive marketing practices, advertising an auction as 'absolute or without reserve', when in reality it is subject to the opening bids received by the auction company prior to the auction beginning.
 
 
 
Getting Ready

As with any other property purchase, it's important to do your homework. Here are some steps we suggest:

Study the information available on the property. Start with the colour brochure available to you free of charge.

Visit the property. Ultimately, there's no substitute for viewing the property. Our professional staff will show you the property and assist you in obtaining answers to all your questions.

Arrange financing, if needed. Our properties are ordinarily sold without contingencies, so you'll want to have any needed financing arranged before the auction day.

Verify bidder registration requirements. Many of the auctions conducted by Michael James Organisation require a bank guaranteed cheque to be eligible to register to bid. Prior to the auction verify if a bank guaranteed cheque is needed, and if so, the amount required. This information will be available at this web site,in the brochure for that auction.

 
 
 
Auction Day

On auction day, plan to get to the sale site for the auction at least an hour early to allow time to register, take a last look at the property (if the auction is held at the property site), and ask any remaining questions.

The professional auction staff will be on hand to help you understand the process, answer questions about the property, and help get you comfortable with the bidding process.

When it's time to start the auction itself, the auctioneer will explain the entire process, provide an example of the bidding process, then open the bidding. Auction clerks will be close at hand to relay your bid to the auctioneer and answer questions that come up during the auction.

 
 
 
Bidding Tips

Here are some tips to help you with the bidding itself:

Make sure you understand the auctioneer's bid calling. If you aren't sure what the current bid is, ask one of the auction assistants.

Have a plan. It helps to know in advance what you are willing to pay under different scenarios.

Bid! Many first-time bidders make the mistake of holding back. If you want the property, go ahead and enter your bid. Otherwise, you could end up waiting too long and may miss your opportunity to purchase the property.

Get to know the Michael James Organisation auction staff working your area at the auction. Their primary role is to assist you prior to and during the auction.

 
 
 
Sold! What's Next?
You're the successful bidder - congratulations! You'll meet with the seller and Michael James Organisation representatives immediately after the auction to complete all necessary documents.
 
Contact
Tel: +27 21 851 7007
Fax: +27 21 851 6724
Email: info@michalejames.co.za
The Michael James Organisation was established as Auctioneers and Appraisers in Somerset West in 1964. Today the Michael James Organisation is one of the leading auctioneering firms in Southern Africa.
 
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