NOTICES TO PROSPECTIVE BUYERS
It is strongly recommended the Buyer reads this information carefully and takes
independent legal and other appropriate advice.
The information below contains some amendments/additions to the Common Auction
Conditions.
1.
Definitions
‘Addendum’
means any additional information attached to the Special Conditions,
Auction Catalogue or Particulars of Sale which amend the information previously
provided.
‘Common Auction Conditions’
means the RICS Common Auction Conditions (3rd
Edition). These are available for download from our website
reproduced with the permission of the Royal Institution of Chartered Surveyors.
‘Legal Pack’
means legal documentation provided by the Seller’s solicitors on the
Lot.
‘Lot’
means the Lot as described in the Particulars of Sale
‘Particulars of Sale’
means the information contained in the Auction Catalogue
about each Lot
‘Special Conditions’
are provided by the Seller’s solicitors and are part of the
contract for sale for each property. They contain specific legal information about the
property
2.
Legal Information
Legal Pack
A Legal Pack is available for every Lot in our Auction Catalogue. It will generally
contain the following:
•
Special Conditions of Sale
•
Title Deeds/Information
•
Searches (if to be provided by the seller)
•
Leases (if applicable)
•
Energy Performance Certificate
•
Together with any other important legal information
The Legal Pack can be obtained directly from the Seller’s solicitors or will be available
for inspection on the day of the Auction of the Lot.
It is important either you or your solicitor inspects the Legal Pack before proceeding
to place a bid at the Auction.
3.
General Conditions of Sale
3.1 Your attention is drawn to the Common Auction Conditions and the Special
Conditions, the latter being obtainable separately from the Auctioneers or the
Seller’s legal advisers
3.2 There may be additions or amendments to the Particulars of Sale or Special
Conditions. An Addendum relating to any such additions or amendments
will be available at the auction. The Addendum will be attached to the sale
contract and form part of the Contract for Sale. The Addendum may have to
be signed on your behalf.
3.3 You will be deemed to have read and considered the Particulars of Sale, the
Common Auction Conditions, the Special Conditions and any Addendum and
have full knowledge of these and all documents and other matters referred to.
3.4 You are strongly advised to consult your legal advisers in respect of the
matters referred to in this paragraph.
4.
Particulars of Sale
4.1 You are advised to check the Particulars of Sale to ensure you are satisfied
as to the accuracy of all measurements, areas, details of leases and all other
matters subject to which the properties are sold or have the benefit of. All
measurements and areas referred to in the Particulars of Sale are approximate
only. You should also check whether any contents and fixtures or fittings
expressed to be included in the sale are the property of the Seller concerned.
The property should be inspected by you and all necessary enquiries made by
you or your representatives with the Auctioneers, the Seller and the Seller’s
professional advisers. You should also make all necessary searches and
enquiries of appropriate authorities.
4.2 You will be deemed to have inspected the relevant property and to have
undertaken all necessary and appropriate enquiries and searches.
4.3 All statements made in the Particulars of Sale or otherwise (save for any
statements made in writing by the Seller’s Solicitors) relating to any property
are made without responsibility on the part of the Auctioneers or the Seller.
Neither the Auctioneers nor any person in their employment has any authority
to make or give any representation or warranty whatever in relation to
any property. No such statement may be relied upon as a statement or
representation of fact.
5.
Plans and Photographs
5.1 All location plans shown in this catalogue are to enable you to locate the
property only. The plans are photographically reproduced and therefore not
to scale and are not intended to depict the interest to be disposed of. Such
plans are expressly excluded from the Contract of Sale.
5.2 Any arrows on photographs or plans in this catalogue are to enable you to
locate the property and are not intended to depict the interest or extent
thereof to be disposed of.
5.3 No warranty or undertaking is given as to the accuracy of the photographs in
this catalogue indicating the property proposed to be sold.
5.4 No warranty or undertaking is given that the photograph of the relevant
property shows or refers to any of the occupiers of the property or whether
any of the occupiers are trading or whether any tenant is in actual occupation
or the state or condition of such property.
5.5 You must rely on your own inspection of the property concerned and the
Special Conditions (obtainable from the Auctioneer or Seller’s solicitors) as to
the full description and extent of the area of the relevant property to be sold.
5.6 The site and location plans in this catalogue are reproduced from the
Ordnance Survey Map with the permission of the Controller of Her Majesty’s
Stationery Office, Crown Copyright reserved.
6.
Inspection
You should contact the Auctioneers to make arrangements to inspect properties.
7.
Structure, Contamination and Equipment
7.1 7.1 You should consult your professional advisers with regard to the condition
of the structure of the property to be sold and any possible contamination or
pollution affecting it. Any full structural and environmental survey should be
carried out by a professionally qualified person.
7.2 No representation, warranty or undertaking whatsoever is made or intended
to be made in respect of:
a)
The state of the structure of any property or any fixtures, fittings or other
items expressed to be included in the sale of the property.
b)
The type of structure or whether such structure is adequate or properly
constructed or otherwise whatsoever in relation to the state of repair or
the suitability of such structure or the fixtures, fittings or other equipment
thereon.
c)
Whether or not there is any contamination or pollution in relation to the
property to be sold or any property in the neighbourhood.
d)
Whether or not it complies with the legislation relating to the environment or
contamination, pollution or dangerous or potentially dangerous substances.
8.
Liability of Bidder
8.1 Each bidder will be deemed to be personally liable on making an accepted bid
even though he purports to act as an agent for a principal Buyer or purports
to sign the Memorandum of Contract in a representative capacity.
8.2 The bidder and the bidder’s principal will be jointly and severally liable under
the Contract of Sale.
9.
Prior Auction Sales
9.1 Please contact the Auctioneers during the 3 days before the auction to enquire
whether a particular Lot will be offered for sale at auction or whether it has
been withdrawn or sold.
9.2 Neither the Auctioneers nor the Seller are responsible for any losses or
abortive costs incurred by you in respect of Lots which are either withdrawn
or sold prior to the auction.
10.
Post Auction Sales
If the Auctioneers have authority to sign the sale memorandum and exchange
contracts on behalf of the Seller during the post auction agency period. Contracts
shall be treated as exchanged when the Auctioneers have received from the Buyer
unconditionally the sale memorandum signed by or on behalf of the Buyer and
the deposit, provided that the Auctioneers shall not be obliged to date the sale
memorandum and release the part signed by the Auctioneers on behalf of the Seller
until the Buyer’s cheque for the deposit has cleared.
11.
Estimated Prices and Rents - Information Relating to Tenant
11.1 Any estimates or suggestions given by the Auctioneers to you relating to the
price at which a property will or may be sold or which you should bid for such
property should not be accepted by you as a valuation. Any sum will only be
accepted as an estimate of the price the Auctioneers consider the property
may be sold for. Any estimates or suggestions given by the Auctioneers to
you relating to the current or future open market rental for the whole or part
of any property must not be accepted as valuations but only as estimates.
11.2 The Auctioneers have not carried out full valuations on any of the properties
to be sold.
11.3 You should satisfy yourself by referring to your own professional advisers to
estalish that any estimates or suggestions given by the Auctioneers as to the
expected purchase price or current or future rental value of properties are
accurate.
11.4 The Auctioneers and the respective Sellers accept no responsibility for any
loss, damage, costs or expenses incurred or suffered by you as a result of
acting on any such estimates or suggestions.
11.5 Any financial or other information contained in this catalogue relating to
tenants or other occupiers of property to be sold or as to the ownership
of any tenants or occupiers is, unless otherwise stated, obtained from the
Companies Registry files open to inspection by the general public or from
the last published report and accounts of the tenant or the tenant’s holding
company. Please note, however, that circumstances may have changed
since the relevant returns were filed at the Companies Registry or since the
publication of the tenant’s or tenant’s Holding
Company’s last report
and accounts. No warranty, representation or undertaking whatsoever is
given that such information is accurate in all respects as at the date of the
sale of the relevant property. You should make your own enquiries.
