We bought a property via an auction held by this company in June last year and paid a 5% deposit as per the sale agreement (over and above the auctioneers commission). This money was meant to be held in trust by the auctioneer and paid over to the transferring attorneys when requested. After months of requests, the owner of the company, Leno De Villiers, eventually pays over a small portion of our deposit citing money owed to him by the seller!
After questioning this, he sends us a mandate agreement signed by the seller which clearly shows that it was changed by him and without the sellers consent. The seller confirmed this in an email which proves the malicious and devious intent of this man.
The trading name was called Julius Buchinsky. He then changed to Bidbank Auctions and then again to Bank On Assets and is conducting auctions illegally as neither he nor his company are registered with the Estate Agents Affairs Board and do not have a fidelity fund as required by law when taking deposits.
We are currently taking legal steps against him and have reported him to the EEAB. We are also looking into laying charges against him. BE VERY AWARE OF DOING BUSINESS WITH HIM.
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