Frequently Asked Questions

Milan Auctioneers is a Kenyan auctioneering, repossession and general commission agency firm established in 2019. The company specializes in professional auctioneering, asset recovery, security realization, repossession and public auction sales. We serve financial institutions, businesses, commercial organizations and individual clients.

Milan Auctioneers was registered on 15th March 2019 under the Registration of Business Names Act, Cap. 499 of the Laws of Kenya. The company commenced auctioneering operations in July 2019 after obtaining the necessary licence from the Auctioneers Licensing Board.

Yes. Milan Auctioneers holds a Class B Auctioneers Licence. Its operations are subject to the Auctioneers Act, No. 5 of 1996, and applicable licensing conditions. The firm's licensed activities include repossession of movable assets, realization of securities, public auctions and execution of court orders within the relevant scope of authorization.

Our head office is located at Coffee Plaza, Second Floor, Room No. 13, Exchange Lane, off Haile Selassie Avenue, Nairobi, Kenya. Our postal address is P.O. Box 9938-00200, Nairobi, Kenya.

Milan Auctioneers provides movable and immovable asset repossession, security realization and public auction services across Kenya, subject to the scope of its licensing authorization. Execution of court orders and distress for rent are undertaken within the firm's stated operational jurisdiction.

Our stated operational jurisdiction for execution of court orders and distress for rent includes Nairobi, Machakos, Makueni, Kitui, Kiambu, Kajiado, Taita Taveta, Kwale and Mombasa counties. Contact us to confirm arrangements for a particular instruction.

The principal auctioneer is Benson Munyao Mwau, a licensed Class B Auctioneer. His professional background includes auctioneering industry experience dating back to 2012, auctioneering training workshops, a Diploma in Counselling Psychology and a Certificate in Accounting Technician.

Milan Auctioneers commenced operations in 2019. The principal auctioneer brings practical auctioneering industry experience dating back to 2012. This experience contributes to the firm's knowledge of auctioneering, asset recovery and related operations.

Milan Auctioneers emphasizes professional licensing, industry experience, knowledgeable personnel, operational resources and accountable service delivery. The firm also maintains Professional Indemnity Insurance cover of KSh 20 million and is committed to integrity, professionalism, efficiency and customer-focused service.

You can contact us through +254 713 210 523 or +254 753 156 794. You may also email milanauctioneers@gmail.com or info@milanauctioneers.co.ke. Our physical office is at Coffee Plaza, Second Floor, Room No. 13, Exchange Lane, off Haile Selassie Avenue, Nairobi.

Auctioneering is the professional activity of conducting sales through competitive bidding and undertaking other authorized functions associated with asset recovery, repossession, security realization and execution of relevant instructions. In Kenya, auctioneering activities are regulated by the applicable legal and licensing framework.

Depending on the licence held and the authority under which they are acting, auctioneers may conduct public auctions, repossess movable assets, facilitate realization of securities, execute court orders and undertake distress for rent. The specific activities permitted depend on the applicable licence and legal requirements.

Auctioneering in Kenya is principally regulated by the Auctioneers Act, No. 5 of 1996, together with applicable regulations and licensing conditions. Other laws may also apply depending on the activity, such as repossession, enforcement of security, property transactions or execution of court orders.

A Class B Auctioneers Licence is a category of licence issued under Kenya's auctioneering regulatory framework. The activities a licence holder may undertake are governed by the Auctioneers Act and the applicable licensing conditions. Milan Auctioneers holds a Class B Auctioneers Licence.

A licensed auctioneer is authorized to undertake the activities permitted by the relevant licence and applicable law. A person conducting activities that legally require an auctioneering licence without the required authorization may be acting unlawfully. Clients should verify an auctioneer's current licence and the authority for the specific instruction.

A public auction generally involves offering an asset to prospective buyers through a competitive bidding process. A private sale involves a transaction negotiated directly between a seller and a buyer. The method available for a particular asset depends on the seller's authority, the sale instructions and applicable legal requirements.

Auctions may involve motor vehicles, land, residential property, commercial property, industrial property, machinery, office equipment and other movable assets. They may be conducted in connection with security realization, asset recovery or other authorized disposal instructions. The exact procedure depends on the nature of the sale.

An auctioneer conducts authorized auction sales and may undertake other licensed activities such as repossession and execution of court orders. An estate agent generally assists with property-related services such as marketing, letting, management or negotiated property transactions. Their professional roles and regulatory requirements are different.

A reserve price is a minimum price set for an asset being offered at auction, where the sale is subject to a reserve. If the bidding does not meet the applicable reserve, the asset may not be sold. Whether a reserve applies and how it is handled depends on the specific auction conditions.

The hammer price is the final bid accepted by the auctioneer when the auction sale is concluded. It should not automatically be treated as the total amount payable by the successful buyer, because additional charges, taxes or transaction costs may apply under the specific sale conditions.

Asset repossession is the recovery of an asset by or on behalf of a party with a legally recognized right to recover it. It commonly arises where a borrower has failed to meet contractual obligations relating to a financed asset. The recovery process must comply with the applicable agreement and legal requirements.

A financed vehicle may become subject to repossession where the borrower defaults on repayment or other obligations under the financing agreement. The lender's rights depend on the terms of the agreement, the nature of the security and the applicable legal procedures.

Our repossession services cover movable assets acquired through financing and hire-purchase arrangements. These include motor vehicles, commercial vehicles, fleet assets, machinery and equipment.

No. Repossession can involve various categories of movable assets. Depending on the financing arrangement, it may include machinery, equipment, commercial vehicles, fleet assets and other financed property.

Yes. An auctioneer may undertake repossession instructions on behalf of a lender where the lender has the necessary legal authority and the auctioneer is appropriately licensed and authorized to act. Milan Auctioneers provides repossession support to banks, microfinance institutions, asset financing companies and other lenders.

Missed repayments may amount to a default under a financing agreement and may trigger enforcement rights. However, whether repossession is permitted and what steps must be followed depend on the contract, the security arrangement and applicable law. A borrower should review the agreement and seek appropriate legal advice if necessary.

Repossession must be undertaken within the authority provided by the relevant agreement and applicable law. A lender or its appointed auctioneer should not assume that a repayment default removes all procedural and legal obligations. The required steps depend on the particular financing arrangement and circumstances.

Request information about the repossession, the party that instructed it, the outstanding obligation and the relevant contractual or legal basis. Review your financing agreement and any notices received. If you dispute the repossession or need advice about your rights, consult a qualified legal practitioner.

Whether a repossessed vehicle can be recovered depends on the financing agreement, the status of the recovery process, the lender's instructions and any applicable legal rights. Contact the lender promptly to establish the available options and requirements. Do not assume that payment of an unspecified amount automatically guarantees release.

Milan Auctioneers works with financial institutions, banks, microfinance institutions, asset financing companies and other lenders. SACCO societies and other eligible credit providers can contact us to discuss their asset recovery requirements.

Security realization is the process of enforcing a security arrangement to recover an outstanding financial obligation. It may involve the sale of an asset pledged as collateral for a loan or credit facility. The process must comply with the relevant security documents and applicable law.

Charged property is property used as security for a financial obligation. For example, land or a building may be charged to secure a loan. The charge documents and applicable law govern the rights and procedures relating to enforcement.

A lender may have statutory and contractual rights to enforce a valid security following default. Whether a property can be sold, and the steps required before a sale, depend on the security documents and applicable legal procedures. Milan Auctioneers provides security realization services to financial institutions and other lenders.

Movable property generally refers to assets that can be moved from one location to another, such as vehicles, machinery, furniture and equipment. Immovable property generally refers to land and property permanently attached to it, including buildings and structures.

Our auction services cover land, residential property, commercial property and industrial property. We also facilitate the sale of movable assets such as motor vehicles, machinery, equipment and office furniture, subject to the relevant sale authority and instructions.

When a secured property is lawfully offered for sale, it is marketed and presented to prospective buyers according to the applicable sale process. Interested buyers should review the auction notice and conditions of sale, understand the property's particulars and establish the applicable payment and transfer requirements.

Yes. Land may be offered for sale through a public auction where there is proper authority and the relevant legal requirements have been met. Prospective buyers should carefully review the title information, auction notice, conditions of sale and applicable transfer requirements.

A residential property used as security for a loan may become subject to enforcement where the borrower defaults. However, a sale is not automatic merely because payments have been missed. The lender must have the relevant enforcement rights and follow the required legal procedures.

A prospective buyer should examine the auction notice, verify the property's identity and available title information, investigate relevant ownership and encumbrance details, assess the location and physical condition where possible, and understand the conditions of sale. Appropriate legal and professional advice is strongly recommended.

Repossession generally involves recovering possession of a movable asset. Security realization involves enforcing a security interest to recover an outstanding obligation, which may result in the sale of the secured asset. The processes can be related, but their legal basis and procedures differ.

A public auction involves offering an asset to prospective buyers through competitive bidding. The auctioneer conducts the sale in accordance with the applicable auction terms and conditions. The successful bid and completion of the transaction are governed by the specific sale instructions.

Public auctions provide an opportunity for prospective buyers to compete for assets being offered for sale. Participants must satisfy any eligibility, registration, deposit or other requirements stated in the relevant auction notice and conditions of sale.

Review the auction notice, conditions of sale, asset description and any supporting documents made available. For vehicles, examine available identification and ownership information. For land and buildings, review title information and relevant property documents. Obtain professional advice where necessary.

Yes, prospective buyers should make reasonable efforts to establish the vehicle's condition and review the available information before bidding. Inspection availability, location and arrangements should be confirmed with the auctioneer for the particular sale.

No. Auction prices depend on several factors, including the vehicle's condition, market demand, location, competing bids and the conditions of sale. An auction can provide a competitive purchasing opportunity, but it does not guarantee a below-market price.

An auction deposit is an amount that prospective buyers may be required to pay before participating in or completing a particular auction transaction. Whether a deposit is required, its amount and the payment arrangements should be confirmed from the specific auction notice and conditions of sale.

After a successful bid, the buyer must follow the payment, documentation and completion requirements set out in the auction conditions. These may include payment deadlines, additional charges and collection or transfer arrangements. Always confirm the exact requirements before participating.

The consequences of a successful bidder failing to complete payment depend on the auction conditions and applicable law. Potential consequences may include forfeiture of a deposit or other remedies provided in the sale terms. Buyers should understand these conditions before bidding.

A bid accepted by the auctioneer may create obligations under the applicable auction conditions. A buyer should not assume that an accepted bid can simply be withdrawn. The consequences depend on the sale terms and relevant legal requirements.

Contact Milan Auctioneers directly to enquire about upcoming sales, available assets, auction dates and locations. Call +254 713 210 523 or +254 753 156 794, or email info@milanauctioneers.co.ke. Always confirm current auction information and sale conditions before making arrangements.

Yes. Milan Auctioneers undertakes the execution of court orders within its stated operational jurisdiction. These services are carried out in accordance with applicable legal requirements and the relevant court instructions.

Execution of a court order refers to the process of implementing or enforcing an order issued by a court. Depending on the nature of the order, enforcement may involve authorized recovery or other actions. The person or professional responsible for execution must act within the authority granted by the order and applicable law.

Distress for rent is a legal process through which a landlord may seek to recover rent arrears by taking steps against a tenant's distrainable property, subject to applicable law and required procedures. It must not be confused with an unrestricted right to seize property or evict a tenant.

A landlord may seek the assistance of an appropriately licensed auctioneer in pursuing a lawful distress for rent process where the legal requirements have been met. The landlord should establish the rent arrears, relevant authority and required procedures before instructing an auctioneer.

A landlord cannot simply take any property belonging to a tenant without regard to the applicable legal requirements. Distress for rent is governed by legal procedures, including rules concerning the property that may be distrained and the manner in which the process is carried out. Specific circumstances should be assessed with appropriate legal guidance.

A tenant should request information about the basis of the distress, the amount claimed, the party responsible and the relevant documentation. They should review the rent account and seek legal advice promptly if they dispute the arrears, the process or the property affected.

Distress for rent is a process directed at recovering rent arrears through qualifying property, subject to legal requirements. Eviction concerns the removal of a person from premises and involves separate legal considerations and procedures. One process should not automatically be treated as authority to carry out the other.

Auctioneers must operate within the scope of their licence, authority and applicable legal requirements. The geographical and operational limits relevant to a particular instruction should be confirmed before execution. Milan Auctioneers has stated geographical coverage for court orders and distress for rent.

Request the relevant identification, documentation and authority for the action being undertaken. Keep records of communications and any notices received. If you believe the conduct is unlawful, seek advice from a qualified legal practitioner and consider raising the matter with the appropriate regulatory or judicial authority.

Yes. The firm's stated operational jurisdiction for distress for rent includes Nairobi, Machakos, Makueni, Kitui, Kiambu, Kajiado, Taita Taveta, Kwale and Mombasa. Contact us to confirm the arrangements for your particular instruction.

An ordinary property sale is generally initiated by an owner who chooses to sell and negotiates the transaction. A forced sale may arise from enforcement of a legal right or obligation, such as realization of a security or execution of a court process. The legal authority, circumstances and sale procedures differ.

A forced sale valuation is an assessment of the price that an asset may reasonably be expected to realize in a sale under circumstances where the seller is under compulsion to sell. It differs from a normal market valuation because the conditions and time available for the sale may be different. A qualified valuer should be engaged where a formal valuation is required.

Market value generally reflects the estimated price at which an asset would exchange between willing and knowledgeable parties under appropriate market conditions. Forced sale value considers circumstances where the seller is compelled to sell, often with limited time or flexibility. The two figures may differ depending on the asset and circumstances.

Not necessarily. Auctioneering and professional valuation are distinct functions. An auctioneer may rely on valuation information supplied by a qualified valuer or other authorized source. Whether a formal valuation is required depends on the transaction and applicable instructions.

Due diligence involves carrying out appropriate checks before committing to a property purchase. It may include reviewing title information, ownership records, encumbrances, property boundaries, location, physical condition and the auction conditions. Buyers should consider engaging qualified legal and property professionals.

No. Buyers should not assume that an auction purchase automatically removes every claim, restriction or encumbrance. The legal effect of a sale depends on the nature of the interest, the authority under which the asset is sold, the sale terms and applicable law. Proper due diligence is important.

In addition to the successful bid amount, a buyer may need to consider costs specified in the sale conditions and applicable law. These may include transaction-related charges, taxes, legal fees, registration costs and other completion expenses. The actual costs should be established before bidding.

Yes. Financial institutions, commercial organizations and businesses may engage professional auctioneering firms to assist with authorized repossession, asset recovery, security realization and public auction assignments. Milan Auctioneers provides these services to eligible institutional and private clients.

Yes. Our clients include financial institutions, commercial organizations, businesses and individuals. Private clients can contact us to discuss their auctioneering or asset-related requirements. Each instruction is considered in light of the firm's licensing scope and operational capacity.

Contact our team and explain the service you require. It is helpful to provide information about the asset, its location, the parties involved and the nature of the instruction. We can then discuss the relevant requirements and next steps.

Call +254 713 210 523 or +254 753 156 794, or email info@milanauctioneers.co.ke.