Important and Useful Information for Buyers

Important Buyers' Information

1. Conditions of Sale:
Please note that all lots are sold in accordance with the Common Auction Conditions (Edition 1 May 2002) 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 Memorandum of Contract.

2. Inspection of Properties
Purchasers are assumed to have inspected the properties in which they are interested and to have made all usual pre-contract searches and enquiries.

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 obtain a buyers’ number may result in the Auctioneer refusing to accept your bid. Identification will be required in order to obtain a buyers number. Please see IMPORTANT NOTICE at the front of the catalogue.

4. Binding Contract
The successful bidder is bound under Contract as soon as the Auctioneers gavel falls on the final bid and will be required to pay a 10% deposit and sign and exchange the Memorandum of Contract prior to leaving the saleroom.

5. Payment of Deposit
The successful buyer of each lot will be required to pay the deposit 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, PO Box 2, 15 Bene’t Street, Cambridge, CB2 3BZ. Sort Code 20-17-19 quoting Cheffins Client Deposit Account No. 03914062

6. Withdrawal of Lots
The Auctioneers reserve the right to withdraw any of the lots prior to the Auction (see Common Conditions of Sale) therefore prospective buyers are advised to check with the Auctioneers the day before the sale to ensure the availability of the lots.

7. 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.

Further information on buying and selling of Auction is available on the RICS website www.rics.org