Important and Useful Information for Buyers
Buyers will be bound under contract on the fall of the auctioneers gavel and it is advised that a prudent buyer will take professional advice from a solicitor and, in appropriate cases, a chartered surveyor or an accountant.
Buyers Registration Form
All persons wishing to bid at the auction must complete a buyers registration form in order to obtain a number. To save time on the day, potential bidders can download and complete the attached form and bring it with you on the day of the auction.
Sale Memorandum
Download our Sale Memorandum form (PDF).
Telephone/Proxy Bidding
Cheffins Property Auctioneers accept bidding via telephone and proxy bidding prior to the auction provided the application is received two working days prior to the auction.
To apply for either of the above please download and complete our Telephone/Proxy Bidding form (PDF).
Important Buyers' Information
1 Conditions of Sale
Please note that all lots are sold in accordance with the Common Auction Conditions (3rd Edition August 2009) at the back of this catalogue. Special Conditions of Sale relating to each lot are available upon request from the Auctioneers or the Vendors Solicitor prior to the Auction. Purchasers will be deemed to have inspected these Special Conditions of Sale and will be legally bound by these conditions which will form part of and will be attached to the Sale Memorandum.
2. Inspection of Properties
Purchasers are assumed to have inspected the properties in which they are interested, to have obtained and inspected a copy of the Auction Legal Pack and to have made all usual pre-contract searches and enquiries and satisfied themselves on the condition and location of the property.
3. Buyers’ Registration
Purchasers interested in bidding for a lot are required to complete a BUYERS’ REGISTRATION FORM and obtain a BUYERS’ NUMBER prior to bidding at the Auction. Failure to register may result in the Auctioneer refusing to accept your bid.
4. Binding Contract
The successful bidder is bound under Contract as soon as the Auctioneers hammer falls on the final bid and will be required to pay the deposit and sign and exchange the Sale Memorandum prior to leaving the saleroom in accordance with the Common Auction Conditions.
5. Payment of Deposit
The successful buyer of each lot will be required to pay a deposit of 10% of the purchase price (subject to a minimum of £3,000) prior to leaving the saleroom by one of the following payment methods:
(a) inform your own Bank Manager that you wish to pay by cheque, tell him the maximum amount you are likely to spend and ask him to instruct our bankers that it will be in order to accept your cheque. Our bankers will then inform us. Our bank is: Barclays Bank PLC, PO Box 885, Mortlock House, Vision Park, Histon, Cambridge, CB4 9DE. Fax: 01223 545564
(b) Debit/Credit Card – payment can be made by Visa and Mastercard Credit Cards (surcharge of 1.35% plus VAT) or by Visa Debit and Switch Cards
(c) Bankers Draft (d) Direct Transfer to our bankers, Barclays Bank PLC, Bene’t Street Branch, P O Box 2, 15 Bene’t Street, Cambridge, CB2 3BZ. Sort Code 20-17-19 quoting Cheffins Client Deposit Account No. 03914062
PLEASE NOTE THAT WE DO NOT ACCEPT ANY FORM OF CASH DEPOSIT.
6. Withdrawal of Lots
The Auctioneers reserve the right to withdraw any of the Lots prior to the Auction (see Common Auction Conditions) and therefore prospective buyers are advised to check with the Auctioneers the day before the sale to ensure the availability of Lots.
7. Legal Documents
The Auctioneers shall endeavour to have copies of title documents, leases, licences, etc available for inspection at their offices or in the saleroom. Prospective buyers wishing to inspect such documents should check the availability with the Auctioneers.
8. Guide Prices & Reserves
Pre-auction guide prices are based upon the initial anticipation of the sale price of the property at Auction. Prospective purchasers should be aware that guide prices are subject to change and are advised to check any amendments with the Auctioneers prior to the Auction. The reserve price for each of the lots may exceed the quoted guide price and eventual guide price.
9. Plans, Measurements and Photographs
All plans, measurements and photographs included in this catalogue are provided for identification purposes only and to assist prospective purchasers in identifying the location of the property. Site measurements may not have been scaled from original plans and therefore should be assumed to be only approximate. Prospective purchasers should make their own investigations and site inspections, and satisfy themselves on the accuracy of all measurements. All plans, measurements and photographs included in the catalogue or disclosed by the Auctioneers (either verbally or in writing) are expressly excluded from the contract of the sale.
BUYERS WILL BE BOUND UNDER CONTRACT TO PURCHASE THE PROPERTY ON THE FALL OF THE AUCTIONEERS HAMMER AND IT IS ADVISED THAT A PRUDENT BUYER WILL TAKE PROFESSIONAL ADVICE FROM A SOLICITOR AND, IN APPROPRIATE CASES A CHARTERED SURVEYOR AND ACCOUNTANT.
A copy of our Guide to Buying and Selling Property at Auction is available on our website ww.cheffins.co.uk/propertyauctions or from our offices. Further information on buying and selling of Auction is available on the RICS website www.rics.org
Money Laundering Information
Please note that any person buying or bidding at auction, MUST produce documentation to confirm their name and residential address. Please find below a schedule of acceptable documentation.
You must provide one document from each list
Identity documents:- Current signed passport
- Current UK Photo card driving licence
- Current full driving licence (old version) (Provisional Driving Licence will not be accepted)
- Resident permit issued by the Home Office to EU Nationals
- Firearms Certificate
- Current full UK driving licence (old version) (Provisional Driving Licence will not be accepted)
- A utility bill issued within the last 3 months
- Local authority tax bill (current year)
- Bank, building society or credit union statement
- Most recent mortgage statement from a UK lender
Please note that a driving licence can be used as evidence for either one or the other BUT NOT FOR BOTH
BUYERS ADMINISTRATION FEE
IN ADDITION TO THE DEPOSIT REQUIRED UPON EXCHANGE OF CONTRACT, BUYERS WILL BE REQUIRED TO PAY A BUYERS ADMINISTRATION FEE. THIS FEE IS £250 INC VAT FOR EACH LOT AND CAN BE PAID BY DEBIT/CREDIT CARD OR CHEQUE. A FULL VAT RECEIPT WILL BE ISSUED THE DAY FOLLOWING THE AUCTION OR EXCHANGE FOR PRE-AUCTION PURCHASERS. PLEASE BRING WITH YOU THE MEANS TO PAY BOTH THE DEPOSIT AND BUYERS ADMINISTRATION FEE.
