IMPORTANT INFORMATION FOR BIDDERS

BEFORE THE AUCTION

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

  • Current signed passport
  • Current UK driving license
  • Resident permit
  • Revenue tax notification

B) EVIDENCE OF ADDRESS

  • 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 auction packs will only be available for inspection at the sale room from 12.30 - 1.30 pm. or 9.30-10.30am in the case of larger sales.

AUCTION LEGAL PACK- PHOTOCOPYING CHARGE

The special conditions and related legal documentation will be available for inspection at our offices and those of the solicitors acting. If you require copies sending to you or your legal advisor, there is a photocopying charge of £15 per lot. This service may not be available for properties that attract large amounts of documentation.

ORDNANCE SURVEY

Ordnance survey extracts crown copyright 2003. All rights reserved. License no. 10020449. Survey scale 1:250,000. Plotted scale 1:1250. Boundaries are shown for identification 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 . (all prompt and your co-operation is appreciated). 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.

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 auction may be considered. However, only unconditional offers will be submitted, ie 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 included on our website on the same day.(http://www.markjenkinson.co.uk /next auction/addendum column) 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 are the successful bidder, a member of the auction team will approach you with a simple form . 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% subject to a minimum of either £1000 or £1,500.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.

COMPLETION DATES

The completion date for each lot can vary, and you are advised to check the Conditions of Sale prior to the auction.

ACCESS BETWEEN THE AUCTION AND COMPLETION

Access for any purpose before completion will not be permitted except where a written undertaking is entered into between the seller's and purchaser's solicitors.

KEYS

Keys to auction lots will not be released at any time without prior arrangement. Once we have notification from the vendor's solicitor that completion has taken place, the keys to the property will be made available for collection at our offices. To avoid unnecessary delay we recommend contacting us in advance to make the appropriate arrangements for collection.

If keys are not collected within 3 weeks of completion they will be destroyed for security reasons and we also recommend that the locks to the property are changed by the purchaser in the interests of security.

UNSOLD LOTS

Enquiries for unsold lots are welcome after the sale when unconditional offers will be considered. In many cases properties are sold immediately after the auction is finished and if you are interested please see the auction staff at the sale room.