Terms and Conditions: Property Auctions
General Conditions of Sale
1 THE CATALOGUE
This catalogue contains details about properties being sold at auction. Those details are subject to change up to and including the day of the auction. Please check our website regularly at auctions.durrants.com/auction-calendar.asp and look out for any additional materials available on the day of the auction, in order to stay fully informed with the up to date information. All lots will be sold in accordance with RICS Common Auction Conditions 3rd Edition and any Special Conditions of sale as produced by the solicitors for each individual Lot. A copy of these conditions is available for inspection at the Auctioneer’s offices or any of the Vendors’ Solicitors. Durrants reserve the right to withdraw any lot and alter the Order of Sale.
2 RESERVE PRICE
The vendors’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve is undisclosed and can be subject to change up to and including the day of the auction. The Vendors reserve the right for Durrants to bid on their behalf up to the reserve.
3 GUIDE PRICE (*)
The guide prices quoted in this catalogue are indicative only and given to assist prospective purchasers in deciding whether to pursue a purchase. The guide price can be shown in the form of a minimum and maximum range within which the acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable sale price (reserve) would fall. A guide price is different to reserve price (see separate definition above). The guide price can be subject to change at any time prior to the auction. Prospective Purchasers should make the appropriate enquiries regarding the revision of any guide price.
4 LEGAL DOCUMENTS
- Will be available 7-10 days prior to the Auction
- Durrants will also endeavour to ensure that the legal documents are available for inspection at the Auction Venue on the day of sale. Please contact the relevant office to confirm.
5 SALES PRIOR TO AUCTION
Where a person is interested in purchasing he should ensure that the Auctioneer is aware of his interest as sometimes properties are sold prior to Auction. Should a Purchaser wish to make an offer to purchase prior to the Auction date, then he should contact the Auctioneer’s relevant office. A Purchaser’s offer should be his best and final offer as the Auctioneer may not consult the bidder further. If the offer is accepted there will be no commitment on either party until contract is exchanged. Durrants will endeavour to respond immediately to all offers, however if a Purchaser does not hear from the relevant office within 48 hours of submitting an offer then it should be assumed that the offer is not acceptable at that time, but may subsequently be reviewed. Prospective Purchasers should therefore contact the relevant office prior to the Auction to enquire as to whether the lot will be offered at the auction or whether it has been withdrawn or sold. Neither Durrants nor the Vendor will be responsible for any losses or abortive costs incurred by prospective Purchasers in respect of lots which are either withdrawn or sold prior to the Auction.
All viewings are strictly by appointment with the Auctioneer’s relevant office, unless otherwise stated. Viewing arrangements are printed in the catalogue under each individual lot. All viewings are at viewers’ own risk. Whilst viewing, prospective purchasers should satisfy themselves as to the location, boundaries and condition of each lot prior to the auction.
7 SALES PARTICULARS
- Any areas and measurements referred to within the particulars within this catalogue are approximate and are for guidance only and do not form part of any contract
- Any photographs or plans that are included within this catalogue are provided for the convenience of prospective purchasers only and are not necessarily to scale and do not form part of any contract. Neither the vendors, their agents, Durrants, nor any person in their employ give or are entitled to give any representation or warranties whatsoever in relation to the properties or any part thereof.
- Plans referred to in this catalogue are based on Ordnance Survey Maps with the Sanction of the Controller of HMSO. Crown Copyright Reserved. Licence No. ES100004151.
8 LIABILITY OF THE BIDDER
The successful bidder will be under a legally binding contract upon the fall of the Auctioneer’s gavel and must immediately provide to the Clerk of the Auctioneer their name, address and telephone number and, where appropriate, the name and address of the person or company on whose behalf he or she has bid, together with the name and address of the Solicitors acting on behalf of the Purchaser. Where such a bidder fails to provide such information the Auctioneer shall be entitled to re-offer the property for sale. The information provided will be used to complete a memorandum of contract in the form of a memorandum found in the inside rear cover of this catalogue which the successful bidder must sign and exchange with the Auctioneer’s staff prior to leaving the room.
The successful Purchaser will be responsible for insuring the property from the fall of the gavel and should make his or her own arrangements in this regard.
Each Purchaser will be required to pay 10% deposit, subject to a minimum deposit of £3,000 whichever is the greater. This deposit should be by Banker’s Draft, cheque, or debit/credit card made payable to George Durrant & Sons Ltd. A separate deposit will be required in respect of each and every lot purchased. Credit card payments are subject to an additional 2%.
11 MONEY LAUNDERING
In order to comply with the Money Laundering Regulations 2003, Durrants are unable to accept payment of deposits in cash. Purchasers will be required to provide two forms of identification. Purchasers must allow Durrants to photocopy the documentation for storage and file for up to 5 years. The two documents can comprise either a current signed passport, current UK photo card, driving licence or full UK driving licence old version, and a utility bill issued within the last 3 months (not mobile ‘phone), Local Authority tax bill valid for the current year or bank, building society, credit union statement (containing the current address).
Prospective Purchasers should note that there may be amendments or additions to the sales particulars, conditions and extra conditions and Special Conditions of Sale. Any addendum relating to these amendments will be available at the Auction and will be attached to the sale contract and form part of the contract of sale. The addendum may have to be signed on behalf of the Purchaser. Purchasers will be deemed to have read and considered the particulars, conditions, extra conditions and addendums and have full knowledge of these and all documents and other matters referred to.
13 IF YOU CANNOT ATTEND THE AUCTION
Durrants strongly advise that all interested parties should attend the auction in order to bid. If it is not possible, then only by prior arrangement a Purchaser can authorise the Auctioneer to bid on his behalf (by proxy) up to a specified limit. Alternatively, a Purchaser can bid by telephone whereby a member of the Auction staff will take bids, and bid on his behalf in the sale room. The telephone/proxy bidding form can be found in this brochure. Internet bidding is also available via i-bidder.com. Please refer to the relevant catalogue for the current auction for instructions on how to bid online.
14 GENERAL NOTE
Durrants and any joint agents give notice that:
- These particulars are produced in good faith, are set out as a general guide only and do not constitute any part of a contract;
- No person in the employment of Durrants or any joint agent has any authority to make or give any representation or warranty whatsoever in relation to these properties.
- If any interested parties are not familiar with Auction procedures or require general or specific information relating to a particular lot Durrants will endeavour to assist. Prospective Purchasers are strongly advised to take independent professional advice prior to attending the Auction.
15 BUYER’S ADMIN FEE
A charge of £250 (plus VAT) per lot will be payable by all successful purchasers and this fee is to be added to the deposit and paid on the day of the auction.
An admin charge of £20 is payable for sending out paper copies of legal packs. Emailed versions are free of charge.
The following points apply to all properties offered for sale within this catalogue unless specified within the individual property descriptions:
The Auctioneer has not tested any apparatus, equipment, fittings or services in any of the properties in the sale and cannot verify that they are in working order or are available. The prospective Purchaser is advised to obtain verification from their Solicitor or Surveyor.
17 FIXTURES AND FITTINGS
All fixtures and fittings including carpets, curtains, garden ornaments and furniture are excluded from each sale unless stated otherwise in the particulars of sale for the individual lot.
18 WAYLEAVES, EASEMENTS AND RIGHTS OF WAY
The properties described herein are sold subject to and with the benefit of all easements, wayleaves, rights of way (whether public or private), water, drainage, sewage, light, wayleaves and other easements that may legally exist or affect the same whether declared or not and also subject to all outgoings or charges connected with the property whether mentioned in these particulars or not.
19 TOWN AND COUNTRY PLANNING
The Purchaser will be deemed to have full knowledge and to have satisfied themselves as to any planning matters that may affect the property.
20 TENURE AND POSSESSION
The property is offered for sale Freehold and vacant possession will be given on completion unless otherwise stated in the particulars.