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Property and Land Auction Conditions of Sale

Auction Conditions of Sale PDF download

Property Auction Conditions of Sale

The following is a summary of the Announcements which will be made prior to the start of the sale:

All Lots will be offered for sale in accordance with the Order of Sale. The Order of Sale will be confirmed at the auction. It will provide details of all Lots which will have been sold or withdrawn from the sale. Special Conditions of Sale have been available for inspection at the offices of the Auctioneers or the Seller's Solicitors prior to auction. These will be attached to the Contract of Sale.

We sell on the basis that prospective Buyers have made all their enquiries and are satisfied or otherwise there from that they have read the Conditions of Sale and fully understand their content. Please note in particular that various Lots have included their own General Conditions of Sale.

Please remember that it is the bidder's duty to attract the Auctioneer's attention.

PLEASE BID CLEARLY and DO NOT DELAY.

Notice to Prospective Buyers

These Notices are intended to assist you as a prospective Buyer. We strongly recommend that you appoint professional advisors including independent legal advisors and arrange for them to consider and advise you on all aspects of your intended purchase.

Auction Purchaser Registration

All potential purchasers are required to register their details with Greenslade Taylor Hunt prior to the commencement of the auction by completing an Auction Purchaser Registration Form.

Registration may be carried out in person at the relevant marketing office prior to the day of auction. Alternatively, potential purchasers will need to register in the auction room at least 30 minutes prior to the advertised commencement time of the auction. All registered potential purchasers will be allocated a bidding number in the auction room, which will enable them to bid.

At registration potential purchasers will need to provide the full name(s) and address(es) of the buyer(s) for the auction contract, the bidder’s details (if these are different from the named buyer(s)) and the solicitor/legal representative who will be acting on behalf of the buyer(s).

Potential purchasers will also need to provide proof of identity to comply with Money Laundering Regulations.

 

Two separate proofs of identification (one for proof of identity and the other for proof of address) are required.

To enable the Agent to comply with the Regulations, the Agent must receive Certified copies or see originals of the following:

Evidence of Purchaser Identity

  • Current Passport
  • Current UK photo driving licence
  • Firearms or shotgun certificate
    • Other official document containing a photograph

Evidence of Purchaser Address

  • Recent utility or council tax bill or statement (not mobile phone bill)
  • Current bank or building society statement
  • Recent mortgage statement
  • House or motor insurance certificate
  • Current UK driving licence (if not used as proof of identity)
    • Vehicle registration document

Please do not send originals in the post.  

Certified copies of identification should be obtained from a Solicitor, dated and signed "original seen" and include the contact details of the person certifying the copies.  If a good reproduction of photographic evidence of identity cannot be achieved, the copy should be certified a good likeness of the Client. 

In the case of a Company purchase the purchaser should provide:

i) the original or a certified copy of incorporation (a website search if registered with Companies House complies), and 

ii) evidence of identity as listed above on two directors or one director and the company secretary. 

The Agent assures the purchaser that, except in so far as is necessary to comply with the Agent’s legal obligation, the Agent will treat the information supplied as confidential in all respects.

The auctioneer reserves the right to refuse a bid where registration has not taken place and to offer the lot to an under bidder.

Conditions of Sale 

If you are the successful Buyer of any Lot, you will - from the moment the Auctioneer's gavel falls - become legally bound by the Conditions of Sale in relation to that Lot. 

 

It will be assumed that you have read and considered the Conditions of Sale and any other relevant documents for the Lot(s) you are interested in before the day of the Auction, that you have shown them to your professional advisors and taken their professional advice before bidding.  All buyers will be deemed to fully understand what they may be liable for if successful in purchasing.  This should also include Stamp Duty Land Tax, Land Registry fees and VAT which may become payable on completion.  If a potential purchaser is in any doubt they should seek advice from their own professional advisors.

Liability of Bidder 

If you bid at the Auction, you will be personally liable in respect of any accepted bid.  This will be the case even if you bid as agent or other representative for another party. 

Procedures on Sale 

If a property is 'knocked down' to you by the Auctioneer, a legally binding contract is immediately created. 

Building Insurance 

It is the purchaser’s responsibility to insure properties from the fall of the hammer and immediate arrangements should be put in hand to provide the necessary cover. 

Deposit 

Cash deposits are not acceptable. 

The deposit is the sum you must pay to the Seller upon acceptance by the Auctioneer of your bid as a guarantee that you will proceed to completion of the purchase.  Normally 10% of the sale price, exclusive of VAT. 

Particulars of Sale 

It is your responsibility to check that the Particulars and all other information about a Lot are accurate and complete before bidding. Measurements and areas referred to in the particulars are approximate only. 

All maps and plans included in Particulars of Sale are for identification purposes only, and NOT TO SCALE. Reproduced from the Ordnance Survey Map under License No. ES755680 Crown Copyright Reserved. 

It is your responsibility to check the following matters in respect of each Lot you are interested in before the Auction:

  • All measurements 
  • Areas 
  • The exact description and location of the Lot 
  • Details of any leases affecting the Lot
  • Whether any fixtures, fittings and contents referred to in the particulars are owned by the Seller
  • Any other matters that the Lot might be subject to or have the benefit of
  • The current occupiers at and/or trading from the Lot
  • The structural condition of the Lot and any possible contamination or pollution of the Lot 

You are advised to check these matters by: 

  • Personally inspecting the Lot 
  • Arranging to have the Lot professionally surveyed 
  • Arranging for an environmental survey to be carried out in respect of the Lot 
  • Making enquiries with the Auctioneers, the Seller and the Seller's professional advisors 
    • Making relevant searches and enquiries with all appropriate authorities 

Buyers Administration Fee 

The successful purchaser(s) will be liable to pay a Buyers Administration fee of £300.00 including VAT per lot, payable to the Auctioneers. 

Guide Prices and Reserves 

The Auctioneers have not carried out valuations for any of the Lots to be offered for sale at the Auction. Consequently, you must not treat the published guide price for a Lot as being a valuation of that Lot.  The majority of Lots will be offered for sale subject to a reserve price.  Any exceptions will be announced on the day of the Auction. 

'Guide Price' represents an indication of the seller’s current minimum acceptable price at Auction.  The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase.  It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing.  As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued.  This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall.  A guide price is different to a reserve price (see separate definition).  Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

Auction Conditions of Sale PDF download

Property Specialists in the South West

Greenslade Taylor Hunt offers an extensive range of property services covering the residential and commercial markets, equestrian properties, farms and new homes in the South West.

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