NOTICE TO ALL PROSPECTIVE
BUYERS
prospective Purchasers wishing to bid by telephone or
proxy please contact the auctioneers
Feather Smailes & Scales LLP (“the Auctioneers”) for themselves and for the vendors
of the properties to be offered herein draw the attention of prospective
purchasers to the following information:
1 All
Lots are subject to the General Conditions of
2 No
representation or warranty is made in respect of the structure of any of the properties nor in relation to their state of repair.
The Auctioneers advise that all prospective purchasers should arrange for a
building survey of the property to be undertaken by a professionally qualified
person.
3 Prospective
purchasers are deemed to have inspected the properties before purchasing and to
have made all necessary and appropriate searches and enquiries with all
relevant authorities, the vendor and other bodies.
4 Prospective
purchasers are asked to make inspection arrangements as indicated in the
catalogue. The Auctioneers will make all reasonable endeavours to arrange
access to the properties offered. Such access cannot, however, be guaranteed.
5 Whilst
every care is taken in the preparation of this catalogue including
descriptions, dimensions, location and other plans and photographs, such
information is for identification purposes only and is expressly excluded from
any contract of sale. Neither the Auctioneers nor any of their employees nor
any person appointed by them can be held responsible for any inaccuracies
including without limitation measurements, areas and sizes. All photographs and
details were prepared at the date of inspection of the property and may not
therefore reflect the current state of the property. All property descriptions
must be checked against actual legal documentation available for each
6 The
Auctioneers and the vendors’ solicitors reserve the right to amend the
particulars and conditions of sale at any time before the date of the Auction.
In the event of there being any additions or amendments an addendum will be
issued for the information of purchasers and the addendum will be attached to
the sale contract and form part thereof. In the event of any conflict between
the addendum and the particulars or the conditions of sale, the addendum shall
prevail. Prospective purchasers are deemed to have read and to have full
knowledge of the contents of the addendum if any.
7 Bids
may be refused at the Auctioneers’ discretion. The Auctioneers reserve the
right to bid on behalf of the vendor up to the reserve.
8 The
Auctioneers reserve the right to amend the order of the sale. The Auctioneers
may re-offer a property in separate Lots if the whole of the property is not
sold or sell in one
9 Prospective
purchasers intending to attend the Auction to bid are advised to contact the
Auctioneers prior to the sale date and time to check whether the particular
property has been withdrawn or sold prior and to check at the Auction that
there have been no variations to the Special Conditions of Sale in respect of
any particular property. Neither the Auctioneers nor the vendors can be held
responsible for any losses, damages or abortive costs incurred in respect of
Lots which are withdrawn or sold prior and therefore prospective purchasers
interested in specific Lots are invited to register that interest with the
Auctioneers.
10 Guide prices which are given by the
Auctioneers are intended to be an indication only of the price at which the
property might sell and are not taken by any prospective purchasers as a
valuation. Prospective purchasers are strongly advised to consult their own
professional advisers with respect to any sums to be offered at the Auction.
The Auctioneers and the vendors accept no responsibility for any loss, damage,
costs or expenses incurred as a result of relying on the Auctioneers’ guide
prices. The Auctioneers are under no obligation to provide any advice to
prospective purchasers with respect to rental values of any particular
property.
11 No fittings, fixtures, appliances etc have
been examined or tested as to their functionality.
12 Unless otherwise provided in the Special
Conditions of Sale the price of each
13 Upon the fall of the Auctioneers’ hammer the
successful bidder is under a binding contract to purchase the property in
accordance with the General and Special Conditions of Sale and the contents of
this Notice. The purchaser will then be required to provide his or her name and
address together with those of the solicitors acting for the purchaser. Should
the purchaser refuse to or incorrectly provide this information the Auctioneers
reserve the right to offer the property to the under bidder or alternatively
re-offer the
14 Upon the fall of the hammer the purchaser is
required to sign the memorandum of sale as it appears in this catalogue.
15 A separate deposit amounting to 10% of the
price (plus Value Added Tax where applicable) is required in respect of each
16 The purchaser will be responsible
for insurance of the property from the moment the property is knocked down to him
or her and the purchaser will be responsible for
making arrangements in this regard.
17 These particulars do not constitute any part
of an offer or a contract. None of the statements contained in these
particulars as to the properties may be relied on as statements or
representations of fact. Prospective purchasers must satisfy themselves on the
accuracy of each of the statements contained in these particulars and should
take their own legal and professional advice. The vendors do not make or give
and neither the Auctioneers nor any of their employees or any person appointed
by them has any authority to make or give any representation or warranty in
relation to the properties.
18. BUYERS
ADMINISTRATION CHARGE. The
successful buyer will be required to pay the Auctioneers a Buyers
Administration Charge of £150.00 inc. VAT upon exchange of contracts for each
property purchased.
19 Whilst every care is taken in the
compilation of this catalogue the Auctioneers may not have been able to verify
all of the information contained herein. However the details of the properties
are believed to be correct at the time of compilation but they may be subject
to amendment or alteration up to the time and date of sale.
20 “As auctioneers we have a
legal responsibility and liability to verify the identity of both sellers and
buyers. Anyone who therefore intends to bid for any property included in this
sale will be required to produce evidence by way of Driving Licence, Passport
or other form of identity when completing the Memorandum of
21 These particulars are copyright and may not
be reproduced without the consent of the Auctioneers.
Introduction
The common auction conditions have
three main sections
1. Glossary This
gives special meanings to some words used in the rest of the conditions.
2. ‑The conduct of the auction These conditions regulate the conduct of the auction. If you
read our catalogue or attend the auction you do so on
the basis that you accept them.
3. ‑Conditions of sale if you buy a lot you
will sign a sale memorandum under which you agree to be bound by the conditions
of sale that apply to that lot.
These
conditions are:
•
General conditions that apply to all lots
•
Any extra general conditions in the catalogue or an addendum
•
Special conditions that only apply to the lot you are buying (and which may
vary the general conditions) The conditions are
legally binding.
Important notice
A prudent buyer will, before bidding
for a lot at an auction
•
Take professional advice from a solicitor and, in appropriate cases, a
chartered surveyor and an accountant
•
Read the conditions
•
Inspect the lot
•
Carry out usual searches and make usual enquiries
•
Check the content of all available leases and other documents relating to the
lot
•
Check that what is said about the lot in the catalogue is accurate
•
‑Have finance available for the deposit and purchase price
The conditions assume that the buyer
has acted like a prudent buyer. If you choose to buy a lot without taking these
normal precautions you do so at your own risk.
Glossary
In the conditions wherever it makes
sense
•
Singular words can be read as plurals, and plurals as singular words
•
A ‘person’ includes a corporate body
•
Words of one gender include the other genders
Actual completion date The date when completion takes
place or is treated as taking place for the purposes of apportionment and
calculating interest.
Addendum An amendment or addition to the conditions whether contained in a
supplement to the catalogue, a written notice from the auctioneers or an oral
announcement at the auction.
Agreed completion date (a) the date specified in the special conditions, or
(b) if no date is specified, 20 business days after the contract date but if
that date is not a business day the first subsequent business day
Approved bank A UK clearing bank
Arrears Arrears of rent and other sums due under the
tenancies but unpaid on the actual completion date
Auction The auction advertised in the catalogue
Auctioneers The auctioneers at the auction
Business day A day which is not (a) a bank or public holiday or
(b) a Saturday or a Sunday
Buyer The person who agrees to buy the lot or, if applicable, that person’s
personal representatives: if two or more are jointly the buyer all obligations
can be enforced against them jointly or against each of them separately
Catalogue The catalogue to which the conditions refer including any supplement to
it
Completion Completion of the sale of the lot
Conditions This glossary, the conditions for the conduct of the auction, the
general conditions, any extra conditions and the special conditions
Contract The contract by which the seller agrees to sell and the buyer agrees to
buy the lot
Contract date The date of the auction or, if the lot is not sold at the auction, (a)
the date of the sale memorandum signed by both seller and buyer or (b) if
contracts are exchanged, the date of exchange. If
exchange is not effected in person or by an irrevocable agreement to exchange
made by telephone, fax or electronic mail the date of exchange is the date on
which both parts have been signed and posted or otherwise placed beyond normal
retrieval.
Documents Documents of title (including, if title is
registered, the entries on the register and the filed plan) and other documents
listed or referred to in the special conditions relating to the lot
Extra conditions Any additions to or variations of the conditions that are of general
application to all lots
General conditions The conditions so headed
Interest rate If not specified in the special conditions, 4%
above the base rate from time to time of Barclays Bank plc
Lot Each separate property described in the catalogue or (as the case may
be) the property that the seller has agreed to sell and the buyer to buy.
Old arrears Arrears due under any of the tenancies that
are not ‘new tenancies’ as defined by the Landlord and Tenant (Covenants) Act
1995
Particulars The section of the catalogue that contains descriptions of each lot
Practitioner A receiver, administrative receiver or liquidator
Price The price that the buyer agrees to pay for the lot
Ready to complete Ready, willing and able to complete: if completion would
enable the seller to discharge all financial charges secured on the lot that
have to be discharged by completion, then those outstanding financial charges
do not prevent the seller from being ready to complete
Sale memorandum The form so headed set out in the catalogue in which the terms of the
contract for the sale of the lot are recorded
Seller The person selling the lot
Special conditions The conditions so headed that relate to the lot
Tenancies All tenancies, leases, licencies to occupy
and agreements for lease subject to which the lot is sold, and any documents
varying or supplemental to them
Transfer Includes a conveyance or assignment (and to transfer includes to convey
or to assign)
TUPE The Transfer of Undertakings (Protection of Employment) Regulations
1981 as modified or re-enacted from time to time
VAT Value Added Tax or other tax of a similar nature
VAT election An election to waive exemption from VAT in respect of the lot
We (and us and our) The auctioneers
You (and your) Someone who has a copy of the
catalogue or who attends or bids at the auction, whether or not a buyer
The Conduct of the Auction
The catalogue is issued only on the
basis that you accept these conditions relating to the conduct of the auction.
They override all other conditions and can only be varied if we agree.
Our role
As agents for each seller we have authority to
• Prepare
the catalogue from information supplied by or on behalf of each seller
• Offer each
lot for sale
• Sell each
lot
• Receive
and hold deposits
• Sign each
sale memorandum
•Treat a
contract as repudiated if the buyer fails to sign a sale memorandum or pay a
deposit as required by the conditions
Our decision on the conduct of the auction is final.
We may cancel the auction, withdraw lots from sale, or
alter the order in which lots are offered for sale. We may also combine or
divide lots.
You acknowledge that to the extent permitted by law we
owe you no duty of care and you have no claim against us for any loss.
Bidding
and reserve prices
We may refuse to accept a bid. We do not have to
explain why.
If there is a dispute over bidding we are entitled to
resolve it, and our decision is final.
Unless stated otherwise each lot is subject to a
reserve price. If no bid equals or exceeds that reserve price
the lot will be withdrawn from the auction. The seller may bid (or ask
us or another agent to bid on the seller’s behalf) up to the reserve price but
may not make a bid equal to or exceeding the reserve price.
Where a guide price is given that price is not to be taken
as an indication of the value of the lot or of the reserve price.
The
particulars and other information
We have taken reasonable care to prepare particulars
that correctly describe each lot. However the particulars are based on
information supplied by or on behalf of the seller and we are not responsible
for errors.
The particulars are for your information but you must
not rely on them. They do not form part of any contract between the seller and
the buyer.
If we provide any information or a copy of any
document we do so only on the basis that we are not responsible for its
accuracy.
The
contract
A successful bid is one we accept as such.
If you make a successful bid for a lot you are obliged
to buy that lot on the terms of the sale memorandum.
The price will be the amount you bid plus VAT (if
applicable). You must before leaving the auction
• Provide
all information we reasonably need from you to enable us to complete the sale
memorandum including appropriate proof of your identity
• Sign the completed
sale memorandum
• Pay the
deposit and if you do not we may either
• As agent
for the seller treat that failure as your repudiation of the contract and offer
the lot for sale again: the seller may then have a claim against you for breach
of contract
• Sign the
sale memorandum on your behalf
Deposits must be paid by cheque or by bankers’ draft
drawn on an approved bank in our favour. The catalogue states whether we also
accept cash, or debit or credit cards.
We may retain the sale memorandum signed by or on
behalf of the seller until we receive the deposit in cleared funds.
If you make a successful bid for a lot
• You are
personally liable to buy it even if you are acting as an agent. It is your
responsibility to obtain an indemnity from the person for whom you are the
agent
• Where the
buyer is a company you warrant that the buyer is properly constituted and able
to buy the lot
• If the
buyer does not comply with its obligations under the contract you are
personally liable to buy the lot and must indemnify the seller in respect of
any loss the seller incurs as a result of the Buyer’s default