Propworths.com — Buyer Obligations & Purchase Process

1) Overview

This page explains typical buyer responsibilities when purchasing a property or business listing through the Propworths.com Platform ("Platform"), including purchases that start via online auctions. This page is provided for transparency and does not replace the formal sale agreement, auction conditions, or local legal requirements.

You remain responsible for due diligence. Propworths.com is a technology platform and is not the seller, conveyancer, or your legal/financial advisor unless explicitly stated in writing.

2) Buyer Due Diligence (Your Responsibility)

You agree that before committing to a purchase (including bidding), you will conduct all due diligence reasonably required for the asset and jurisdiction, including:

Physical inspection of the property/business and verification of condition, boundaries, and improvements.
Verification of ownership/authority to sell, mandates, and seller capacity through the relevant professionals.
Title/encumbrance checks (bonds, liens, restrictions, servitudes, zoning, permits, compliance certificates as applicable).
Financial and operational verification for businesses-for-sale (accounts, leases, staff, suppliers, licenses).
Independent legal, tax, and financing advice.

Any distances, maps, schools, amenities, investment figures, yields, or estimates shown on the Platform are indicative and must be independently verified.

3) Identity & Funding Readiness

3.1 Verification

You may be required to complete identity and payment verification (KYC/AML checks) before bidding, before acceptance, or prior to signing. Failure to complete verification may limit access or result in cancellation of bids/transactions.

3.2 Proof of Funds / Pre-Approval

For certain listings, you may be required to provide proof of funds, finance pre-approval, deposit confirmations, or other affordability evidence within a stated timeframe.

4) Auction Purchases: What Happens After an Accepted Bid

Where a seller accepts your bid online ("Accepted Bid"), the following process typically applies (subject to the auction page rules and local law):

Notification: You receive in-app/email notice of acceptance and next steps.
Documentation: You may need to sign an offer-to-purchase / memorandum of sale / sale agreement within a stated deadline.
Deposit (if applicable): Pay any required deposit into the designated account/payment method shown in the transaction flow.
Conveyancing / Closing: A conveyancer/closing attorney (or local equivalent) will manage transfer, compliance, and settlement.
Handover: Possession/occupation occurs per the sale agreement.

Specific deadlines and documents are set by the seller/agent and the jurisdiction. Always read the auction page's special conditions.

5) Buyer Default & Non-Completion

If you fail to proceed after an Accepted Bid (or breach the post-acceptance steps), consequences may include:

Loss of deposit (if a deposit was required and forfeiture applies by law/contract).
Seller claims for damages and re-auction/relisting costs (where lawful).
Propworths.com's 5% Platform Commission payable within 48 hours as set out in the Auction Terms.
Account suspension/ban for integrity protection.

6) Communications & Off-Platform Dealing

You agree not to use the Platform to identify a seller/agent and then circumvent the Platform process to avoid fees/commission. Propworths.com may enforce its commission/fees and apply integrity remedies where circumvention is detected, to the maximum extent permitted by law.

7) Buyer Support

Support: [charl@propworths.com] | Legal: [charl@propworths.com]

This page is a general policy guide. It should be adapted per country for mandatory consumer disclosures, regulator requirements, and local format conventions before publishing.