Auction Procedures

NEW MONEY LAUNDERING REGULATIONS
In order to comply with the Proceeds of Crime Act 2002 and the Money Laundering Regulations Act 2003, both Sellers and Buyers at auction will have to provide formal identification in the form of one item from the following two groups:-

A) IDENTITY DOCUMENTS (one of the following)
• Current signed passport
• Current UK driving license
• Resident permit
• Revenue tax notification
&
B) EVIDENCE OF ADDRESS (one of the following)
• Utility bill – issued within the last three months (not mobile phone bill)
• Local Authority tax bill for the current year
• Bank, building society or credit card statement containing current address
• Most recent mortgage statement
• Current UK driving license (not used for evidence of name)

CONDITIONS OF SALE
All properties in the catalogue are sold subject to the Conditions of Sale printed in this catalogue together with the Special Conditions relating to each individual lot. These, together with any related documentation will be available for inspection at the offices of the auctioneers and solicitors prior to the sale. Interested parties are deemed to buy in full knowledge of these whether or not they have actually inspected the Conditions. We recommend inspecting the legal documents once they are available and avoid leaving it until auction day. The legal packs will only be available for inspection at our Doncaster offices 7 days prior to the auction by prior appointment or at the auction venue from 5 pm onwards.

ORDNANCE SURVEY
Boundaries are shown for identification purposes only and should not be taken as definitive.

TENURE DETAILS
It is not always possible to provide tenure details relating to each lot at the time the catalogue is printed. Where we have written confirmation from the vendor’s solicitor we will provide details. In the absence of written confirmation the tenure details will be omitted from the catalogue but, details will be included in the Conditions of Sale which will be available in our office for the days leading up to the auction.

VIEWING AUCTION PROPERTY
Details of appropriate viewing arrangements are included with each lot in the catalogue. Open viewing times for some properties are also provided on a separate sheet. In cases of severe weather we recommend checking with the office to ensure that viewings are still being held. Viewing times will begin and end promptly as stated and your co-operation is appreciated.

SURVEYS
If you wish to have a survey carried out on the property prior to the auction please refer your surveyor to us as soon as possible and appropriate arrangements will be made. We cannot always accommodate last minute requests.

GUIDE AND RESERVE PRICES
Guide prices are published to assist potential purchasers and attempt to reflect the initial anticipated price expected to be achieved at auction. The reserve price is the lowest amount which the seller is prepared to accept at the auction and will not be disclosed. This figure may be higher or lower than the guide price and will reflect the amount of interest in the property prior to the auction.

REGISTRATION OF INTEREST
If you are interested in a particular property, we advise you to register your interest with us as soon as possible. We can then make you aware of any alterations and, if requested inform you when the legal documentation is received. A bidder’s registration form should be completed on or before the auction date.

PRE-AUCTION OFFERS
We anticipate that the lots in this catalogue will be offered, as advertised, on the day of the sale. There may be circumstances where the acceptance of an offer prior to the auction may be considered. However, only unconditional offers will be submitted, i.e. those which are not subject to mortgage, survey, searches, etc.

If you are interested in purchasing a property prior to the auction you must submit the offer in writing confirming your details, solicitors, financial arrangements and the amount of the offer. Details will then be submitted in writing to the seller and we will contact you within
48 hours should they wish to accept the offer. If an offer is accepted, the property will remain in the sale until you have exchanged contracts with us under auction conditions. If you do not hear from us within 48 hours you must assume that the property will remain in the auction as planned, which is usually the case.

TELEPHONE /PROXY BIDS
We advise that you attend the auction in person if you are bidding for a particular lot. If however you are unable to come to the sale or have someone bid on your behalf, you may choose to bid by proxy or by telephone .The appropriate form together with the deposit requirements will either be printed at the end of this catalogue or will be available on request from our offices.

ALTERATIONS
Should any of the properties mentioned in this catalogue be withdrawn from sale or if any alterations arise, details will be provided or may be included on our website. An addendum sheet will also be distributed prior to the auction and alterations will be referred to by the auctioneer prior to each particular lot.

At And After The Auction

AUCTION PROCEDURE
If you would like to bid at the auction a bidder’s registration form should be completed. You will be asked to provide your name, address and telephone number and if you are bidding on behalf of somebody else we will need the details of that person or company. We will also request the name and address of the solicitor acting on your behalf. The vendor’s solicitor will usually be present at the sale room and will oversee the signing of the contract either straight away or at the end of the auction should you wish to bid on another property.

THE DEPOSIT
The amount of the deposit required in each case will be stated in the Conditions of Sale and will usually be 10% of the purchase price subject to a minimum of £3,000. Payment must be made at the saleroom and failure to do so may lead to that lot being re- offered. All cheques are banked immediately after the auction and you must ensure that you have adequate funds in your account. It should also be noted that some auction contracts also have a provision for payment of the vendor’s fees.

BUYER’S ADMINISTRATION FEE
Please note there is an administration fee of £750 + VAT on each Lot. Payment can be made by cheque only following the ID check, cheques should be made payable to Regional Auctioneers Limited.

RICS Common Auction Conditions