0) Agreement & Priority
These Online Auction Bidding Terms ("Auction Terms") form a binding agreement between you ("Bidder", "you") and Propworths.com Head Office ("Propworths.com", "we", "us"). They apply when you place, increase, or confirm any bid on the Platform.
1) Binding Nature of Online Bids
Important: Bids placed on the Platform are intended to be legally binding offers. Do not bid unless you are ready, willing, and able to proceed on the stated terms.
1.1 Your Warranties
- You have legal capacity and authority to bid and enter contracts.
- Your identity and payment details are accurate and verifiable.
- You have performed your own due diligence and will not rely on Propworths.com as a financial/legal advisor.
- You understand that properties may be sold "voetstoots / as-is" where applicable, subject to seller conditions and local law.
2) How Auctions Work
2.1 Auction Mechanics
- Start/End Times: Each auction shows its opening and scheduled closing time.
- Bid Increments: Minimum increments may apply and are shown on the auction page.
- Soft Close / Extension: If a bid is placed near the end, we may extend the auction to prevent last-second sniping.
- Reserve: Listings may have a reserve. "Reserve met" status may be shown where permitted.
2.2 Technical Events
3) Seller Acceptance & Winning Bid
3.1 Highest Bid vs. Accepted Bid
The highest bid at the scheduled close is not automatically an "Accepted Bid" unless the seller confirms acceptance through the Platform or as otherwise stated in auction-specific terms.
3.2 Acceptance Process
- Seller/agent may accept, reject, or counter a bid, subject to local law and the seller's mandate.
- When your bid is accepted online, the Platform will notify you electronically (in-app + email/SMS where enabled).
- Upon acceptance, you must promptly comply with the post-auction steps shown (signing, deposits, KYC, providing documents, etc.).
4) The Contract — Conditional & Unconditional Sales
Two contract models may apply to a lot, as stated on the auction page. You confirm which applies before you bid.
Unconditional sale: on the fall of the hammer (or online acceptance of the winning bid) a binding contract of sale comes into existence. You must immediately pay the stated deposit (typically 10% of the purchase price) and complete within the period in the conditions of sale (typically ~28 days). There is no finance condition.
Conditional sale: on acceptance you secure a reservation and exclusivity, then have the defined window stated on the auction page (typically ~28–40 days, including any finance / mortgage condition) within which the unconditional contract must be concluded. Failure to satisfy a stated condition within the window releases the parties as set out in the conditions of sale.
The conditions of sale and any special conditions in the Auction Pack form part of your contract and prevail over marketing material. Where local law mandates a particular form of sale contract, that law applies.
5) Deposit, Completion & Buyer Costs
- Deposit: the stated deposit becomes payable immediately on acceptance and is held in trust / escrow as directed; it is applied to the purchase price on completion.
- Completion: you must complete within the period in the conditions of sale. Where the conditions so state, time is of the essence.
- Buyer’s costs: unless stated otherwise, the buyer bears transfer / stamp duty, conveyancing and registration fees, VAT (where applicable) and any buyer’s premium shown on the auction page. These are separate from the Platform Commission in the commission clause.
- Default: failure to pay the deposit or to complete is a default — the deposit may be forfeited, the seller may resell, and you may be liable for the resale shortfall and costs, in addition to the Platform Commission.
6) Bid Withdrawal, Default & Non-Completion
4.1 No Withdrawal After Acceptance
After an Accepted Bid occurs, you may not withdraw without the seller's written consent and compliance with these Auction Terms. Any failure to proceed may be treated as a default.
4.2 Buyer Default Includes (non-exhaustive)
- Refusing or failing to sign required documents within stated timelines.
- Failing to pay deposits/amounts due (where applicable).
- Failing verification/KYC checks due to inaccurate information.
- Attempting to renegotiate material terms after acceptance outside a lawful process.
- Indicating you "changed your mind" after acceptance.
7) Propworths.com Commission (5%) & 48-Hour Payment Obligation
Commission on Accepted Bid — Payable even if you walk away: If your bid is accepted online (an "Accepted Bid") and you do not proceed to complete the transaction for any reason not caused by Propworths.com, you agree to pay Propworths.com a commission equal to 5% of the Accepted Bid amount ("Platform Commission").
5.1 When the 5% becomes due
The Platform Commission becomes immediately due and payable when: (a) your bid is accepted online; and (b) you subsequently fail or refuse to proceed, withdraw, or default (as defined above), whether before or after signing further documents, unless a mandatory legal cooling-off right applies in your jurisdiction and is properly exercised (where applicable).
5.2 48-Hour Payment Clause
You must pay the Platform Commission within 48 hours of the earliest of:
- Propworths.com issuing an in-app invoice/notice of default; or
- Propworths.com emailing the default notice to your registered email address; or
- Propworths.com sending an SMS/notification to your registered number (if enabled).
5.3 Payment Methods
- EFT: Pay to the bank account shown on the Platform invoice/Head Office payment page.
- Online Payment: Pay via the Platform's payment gateway (card/instant EFT/other supported methods).
5.4 Late Payment, Recovery Costs
If the Platform Commission is not paid within 48 hours, Propworths.com may (subject to law): (a) suspend/terminate your account and block further bidding; (b) refer the matter for collection; and/or (c) recover reasonable legal fees and collection costs, plus interest at the maximum lawful rate from due date until paid.
8) "Bid Withdrawal Manipulation" Protection Clause
Zero-Tolerance for Bid Manipulation: You may not place bids (including high "spoof" bids) with the purpose or effect of inflating price, testing market appetite, blocking other bidders, shill bidding, creating false demand, or later withdrawing to avoid completion.
6.1 Integrity Monitoring & Digital Evidence
To protect auction integrity, you consent to reasonable monitoring and analysis aimed at detecting manipulation, including: device/browser identifiers, IP/geolocation signals, behavioural bidding patterns, account link analysis, payment verification outcomes, and other technical indicators permitted by law and our Privacy Policy.
6.2 Manipulation Events (Examples)
- Repeatedly placing high bids and then refusing to proceed after acceptance or near closing.
- Creating or controlling multiple accounts to influence auction outcomes.
- Coordinating with others to suppress competition or inflate prices.
- Attempting to move negotiations off-platform to avoid commission or to "reset" the auction.
6.3 Contractual Remedies (In addition to the 5% Commission)
If Propworths.com reasonably determines that you engaged in bid withdrawal manipulation or attempted circumvention, you agree that Propworths.com may, subject to law and without limiting other rights:
- Immediately cancel bids, revoke a win, or rerun/relist the auction to restore fairness.
- Suspend/ban your account and any related accounts, devices, payment methods, or entities.
- Recover losses caused by the manipulation, including re-auction costs, seller claims passed to Propworths.com, investigation costs, and platform disruption losses, where lawful.
- Report suspected fraud to payment providers, verification partners, and/or relevant authorities where appropriate.
6.4 Anti-Circumvention (Off-Platform Deal Blocking)
If you contact a seller/agent introduced through the Platform and attempt to conclude the transaction off-platform to avoid fees/commission, Propworths.com may treat this as circumvention and enforce its fees/commission and remedies to the maximum extent permitted by law.
9) Auctioneer’s Discretion & Bid Disputes
The auctioneer (Propworths.com or its appointed agent) regulates the conduct of each auction. Acting reasonably and subject to law, the auctioneer may:
- set, vary or waive bid increments;
- refuse or reject any bid (including a bid it reasonably believes is not genuine);
- resolve any dispute over a bid or the bidding order, including by re-opening bidding; and
- pause, extend, restart or cancel a lot where there is a verified technical issue, fraud risk or integrity concern.
In the event of a dispute as to any bid, the auctioneer’s decision is final. Where two valid bids are equal, the auctioneer determines priority (ordinarily the earliest received).
10) Caveat Emptor, Due Diligence & the Auction Pack
Lots are sold on a “voetstoots / as-is” basis where applicable. You are responsible for your own due diligence before bidding and you rely on your own inspection and professional advice — not on Propworths.com or the marketing description.
Each lot has an Auction Pack (title documents, the conditions of sale, any body-corporate / HOA rules and levies, compliance certificates, and disclosed defects). The conditions of sale and special conditions in the Auction Pack are binding and form part of your contract on a successful bid. You confirm you have had the opportunity to review the Auction Pack and to obtain legal advice before bidding.
11) Sanctions, AML/KYC & Eligibility
You may not bid if you are subject to sanctions or prohibited by law from participating. We may block users and transactions where required by sanctions laws, AML rules, or platform risk policies.
12) Foreign & Cross-Border Bidders
Propworths.com hosts auctions across many countries. If you bid from outside the country where the asset is located, you are responsible for compliance with foreign-ownership restrictions, exchange-control and remittance rules, currency conversion, and any tax or reporting obligations in both jurisdictions. Prices and deposits are payable in the currency stated on the auction page.
13) Governing Law & Disputes
Governing law, jurisdiction, and dispute process are described in Dispute Resolution & Arbitration, subject to mandatory consumer protections in your jurisdiction.
14) General Provisions
- Force majeure: neither party is liable for failure or delay caused by events beyond its reasonable control (including outages, natural events, war, or government action); affected timelines are extended accordingly.
- Electronic signatures & records: you agree that electronic acceptance, signatures and records are legally valid, binding and admissible (for example under the ECT Act, eIDAS or ESIGN, as applicable).
- Recording: bidding sessions and related communications may be recorded and retained for integrity and evidentiary purposes, in line with our Privacy Policy.
- Entire agreement & severability: these Auction Terms, together with the conditions of sale and Auction Pack, are the entire agreement for auction activity; if any provision is held invalid, the remainder continues in force.
- No waiver & assignment: a failure to enforce any right is not a waiver of it; you may not assign your obligations without our written consent.
15) Contact & Notices
Official notices will be delivered via in-app notification and/or the registered email address on your account. You must keep contact details current.
Legal Notices: charl@propworths.com | Head Office: Propworths Global Property (Pty) Ltd (Reg No 2025/923396/07), P.O. Box 1023, Somerset West, Western Cape 7130, South Africa