NOTICES TO PROSPECTIVE BUYERS
12.
Definitions
12.1 A legally enforceable Contract of Sale of the relevant property is created on
the fall of the hammer.
12.2 On a property being sold, the successful bidder will be given a Buyer’s Slip by
the Auctioneers. The bidder must complete the Buyer’s Slip with the required
information immediately, failing which the Auctioneers will be entitled to
resubmit the property for sale and may treat the bidder and the Buyer as
being in breach of contract. Resubmission of the property for the sale will be
taken without prejudice to any claim there may be against the bidder and the
Buyer for breach of contract.
12.3 The Auctioneers will prepare a Memorandum of Contract in the form appearing
in this catalogue. Before the end of the auction, the successful bidder should
arrange for such Memorandum of Contract to be signed by or on behalf of
the Buyer. This will be exchanged for a part signed by the Seller, the Seller’s
solicitors or by the Auctioneers on behalf of the Seller.
12.4 Unless otherwise stated in the Special Conditions, the property will be at the
Buyer’s risk on being sold at the auction. The Buyer should therefore make
his own arrangements for insurance immediately.
13.
Definitions
13.1 A deposit of 10% of the purchase price, with a minimum of £2,000.00 (two
thousand pounds) will be payable on the relevant property being knocked
down. This provision may be amended by the Special Conditions which the
Buyer should check.
13.2 The deposit should be handed to the Auctioneer’s Clerk when the Buyer’s
Slip has been completed and made payable to the Seller or the Seller’s legal
advisors.
13.3 A separate deposit will be requested in respect of each Lot purchased.
13.4 Unless otherwise specified, cheques will be accepted. Cheques must be drawn
on a bank or branch of a bank in the United Kingdom. Any other cheques may
be rejected.
14.
Identification/Money Laundering Requirements
In compliance with Money Laundering legislation all successful bidders are required
to provide photographic evidence and proof of address. You are therefore advised to
attend with a driving licence, passport and other form of identification.
15.
Proxy Bids
Arrangements can be made not less than 3 days before the auction to make a Proxy
Bid. A duly completed Proxy Bid Authorisation Form should be lodged with the
Auctioneers not less than 3 days before the auction
16.
Completion
The contractual completion date for each Lot will be 28 days after the date of the
auction or 28 days after contracts have been exchanged in respect of pre and post
auction sales, unless varied in the Special Conditions or Addendum.
17.
Administration Fee
The Buyer agrees to pay the Auctioneers an administration fee of £450 plus
VAT per Lot at the same time as the deposit. The administration fee should
be made payable to the Auctioneers.
18.
Liability of the Auctioneer
The auctioneers shall be under no financial liability in respect of any matters arising
out of the auction or the particulars for any lot or any of the conditions relating to any
lot. No claims shall be made against the auctioneers by the buyer in respect of any
loss or damage or claim actually or allegedly suffered by or made against the buyer
by reason of the buyer entering in to the contract.
19.
Energy Performance Certificate
An Energy Performance Certificate will be made available in the Legal Pack and/or a
full copy can be obtained by contacting the Auctioneers directly.
20.
Vacant Possession
Where properties are not sold with vacant possession tenancy details will be given on
the Auctioneers Particulars of Sale and/or the Seller’s solicitors Special Conditions.
MEMORANDUM OF CONTRACT
LOT NUMBER.........................................................................................................
Agreement Date:
.................................................................................................... 20 .................................
Seller:
..........................................................................................................................................
Buyer:
..........................................................................................................................................
Property:
The property described in the Special Conditions of Sale relating to the above Lot number.
Name/Address of Buyer’s
..............................................................................................................................
Solicitors or other person to whom ..............................................................................................................................
property documents to be sent
..............................................................................................................................
Purchase Price:
£ ........................
Deposit:
£ ........................
Balance:
£ ........................
The Seller will sell and the Buyer will buy the Property for the Purchase Price in accordance with and subject to the terms and
conditions referred to in the Common Auction Conditions, the relevant Particulars of Sale, the Special Conditions of Sale apply-
ing to the Property, any Addendum together with any other documents relating to the Property and attached to this agree-
ment.
The Auctioneers (as defined in the Common Auction Conditions) acknowledge receipt of the Deposit in part payment of the
Purchase Price.
The Buyer agrees to pay the balance of the Purchase Price and to complete the purchase in accordance with this agreement in
all respects.
Signed by or on behalf of the Buyer .................................. Signed by or on behalf of the Seller ................................
