LR129800
AUCTION
SALE IN EXECUTION
IN THE HIGH COURT
OF SOUTH AFRICA
KWAZULU-NATAL DIVISION,
PIETERMARITZBURG
Case No.:
12706/2024P
In the matter between:
SB GUARANTEE COMPANY (RF)
PROPRIETARY LIMITED Execution Creditor
and
PRESTON NAIDOO Judgment Debtor A SALE IN EXECUTION of the undermentioned property is to be held by the Sheriff Port Shepstone, at the Sheriff`s Offices, 17A MGAZI AVENUE, UMTENTWENI, PORT SHEPSTONE on MONDAY, 25 MAY 2026 at 10h00, subject to a reserve price of R 450 000.00. Full conditions of sale can be inspected at the Sheriff Port Shepstone, 17A Mgazi Avenue, Umtentweni, Port Shepstone, who can be contacted on Tel: 039 200 0001 and will be read out prior to the sale taking place. No warranties are given with regard to the description, extent and/or improvements to the property.
(a) Sectional No. 12 as shown and more fully described as Sectional Plan No. SS55/2022 the scheme known as SUNTIDE CABANAS in respect of the land and building or buildings situated at MARGATE, IN THE RAY NKONYENI LOCAL MUNICIPALITY, of which section the floor area, according to the said sectional plan is 66 (SIXTY SIX) square metres in extent; and
(b)An undivided share in the common property in the scheme apportioned to the said section in accordance with the participation quota as endorsed on the said sectional plan. Held under ST16516/2022 and specially hypothecated under MORTGAGE BOND SB8179/2022 ALSO KNOWN AS: DOOR NO. 12 SUNTIDE CABANAS, 5 DUKE ROAD, MARGATE. MAGISTERIAL DISTRICT: UGU MAGISTERIAL DISTRICT Improvements :
Plastered Walls, Tile Roof, Tile Floors, 1 Bedroom, 1 Bathroom, Lounge and Dining Room combined, Kitchen, Balcony on Top Floor, Carport. Other Information: Palisade Fence, Swimming Pool, Braai Area paved. ZoningResidential.
Take further notice that:
1.This sale is a sale in execution conducted in accordance to the Consumer Protection Act 68 of 2008 as Amended, in pursuant of an order granted against the Defendant for money owing to the Plaintiff.
2.The purchaser shall pay auctioneer`s commission subject to:
a)6% on the first R 100 000.00
b)3.5% on R 100 001.00 to R 400 000.00
c)1.5% on the balance of the proceeds of the sale subject to
A maximum commission of R 40 000.00 plus VAT
•and a minimum commission of R 3 000.00 plus VAT.
3.The purchaser shall pay to the Sheriff a deposit of 10% of the purchase price in cash or by bank guaranteed cheque on the day of the sale. The balance shall be paid against transfer and shall be secured by a guarantee issued by a financial institution approved by the Execution Creditor or his attorney, and shall be furnished to the Sheriff within 10 days after the date of sale.
4.The property may be taken possession of after signature of the conditions of sale, payment of the deposit and upon the balance of the purchase price being secured in terms of condition 3.
5. Should the purchaser receive possession of the property, the purchaser shall be liable for occupational rental at the rate of 1% of the purchase price per month from date of sale to date of transfer.
6.The rules of the auction and conditions are available 24 hours prior to the auction at the offices of the Sheriff Port Shepstone at 17a Mgazi Avenue, Umtentweni, Port Shepstone.
REGISTRATION AS BUYER IS A PRE-REQUISITE SUBJECT TO CONDITIONS, INTER ALIA:
•Directive of the Consumer Protection Act 68 of 2008 (URL https://www.info.gov.za/view/DownloadFileAction? id=99961)
`All bidders are required to present their identity documents together with their proof of residence for FICA compliance.
`All bidders are required to pay R 15 000.00 (refundable) registration fee prior to the commencement of the auction in order to obtain a buyer`s card.
`Registration conditions
The auction will be conducted by the Sheriff, Y MAHOMED, or her deputy.
Advertising costs at current publication rates and sale costs according to court rules, apply.
FINDLAY & NIEMEYER
INCORPORATED
Attorneys for Plaintiff
P.O. Box 801
Pretoria
Ref.
Mr M COETZEE/AN/F7818
Tel No. (012) 342-9164
Reference Number: LR129800
