Regular auction buyers know it is a simple process. But before
coming to our sale we recommend prospective buyers:
upcoming sales or search for a specific property
- View the property details in the online catalogue
- Tell us about your interest. We may be able to help and tell
you about any updates
Guide Price: An
indication of the seller's current minimum acceptable price at
auction. The guide price or range of guide prices is given to
assist consumers in deciding whether or not to pursue a purchase.
It is usual, but not always the case, that a provisional reserve
range is agreed between the seller and the auctioneer at the start
of marketing. As the reserve is not fixed at this stage and can be
adjusted by the seller at any time up to the day of the auction in
the light of interest shown during the marketing period, a guide
price is issued. This guide price can be shown in the form of a
minimum and maximum price range within which an acceptable sale
price (reserve) would fall, or as a single price figure within 10%
of which the acceptable price (reserve) would fall. A guide price
is different to a reserve price (see separate definition). Both the
guide price and the reserve price can be subject to change up to
and including the day of the auction. As soon as is practicable we
will update the website. Prospective bidders should regularly check
for guide price updates including on the day of the auction
Reserve Price: the
seller's minimum acceptable price at auction and the figure below
which the auctioneer cannot sell. The reserve price is not
disclosed and remains confidential between the seller and the
auctioneer. Both the guide price and the reserve price can be
subject to change up to and including the day of the auction.
The common auction conditions of sale (CAC) have been published by
the Royal Institution of Chartered Surveyors and are reproduced on
our website and towards the end of this catalogue. As surveyors and
auctioneers we have adopted the CAC and the sale of properties in
England and Wales are subject to them. They set out the duties and
obligations of the buyers and sellers and of the auctioneer. This
is an important document. As far as possible it has been written in
plain English but it does form part of your contract of purchase
and some terms will inevitably use legal phraseology.
You should consult with your legal adviser before bidding and
also your accountant regarding the impact of VAT, if applicable, on
the sale price. The CAC are divided into three parts. If you are
intending to bid for yourself or another please read the Conduct of
the Auction section carefully before arrival. If you need help in
understanding them please contact us, preferably by e-mail or
consult your legal adviser.
Each property will have its own legal documents including the
Special Conditions of Sale which are supplied by the seller's
solicitor. If you receive copies they should be checked against the
originals before the auction to make sure they have been scanned
correctly. Seller's solicitors usually hold title deeds, leases and
other documents relevant to the sale. They are usually available to
download free from our website. Please let us know if getting a
legal pack is problematic.
The information on each property in this catalogue
has been provided and checked by the seller and their solicitor. We
can only give a short overview of what is being sold and the
photographs and plans are for identification only. As a potential
purchaser you will know there is no substitute for your own
research. Where we are aware of any changes before the auction
these will be listed on the website under The Addendum.
The property: You must inspect the building inside and outside.
You may need professional advice to survey the condition of the
building and the boundaries. Talk to the tenant of the property if
there is one and also to neighbouring occupiers; you can learn a
lot from others. As most of the properties are occupied, viewings
must be arranged through us.
Sometimes properties are sold or withdrawn prior
to auction or information with which we have been supplied requires
updating as the marketing period progresses. This may include the
information in the catalogue as well as the legal documentation.
The seller may also wish to change the guide price in response to
interest generated by the auction marketing. We publicise these
changes on our website as well as in The Addendum which is
available on the auction day. The Addendum is part of the contract
of sale and therefore you must make sure you have checked on the
website beforehand and obtain a copy at the auction. Sometimes we
are informed of changes at the last moment and therefore please
make sure you arrive early to hear any pre-sale announcements by
Can't make the Auction:
We provide a proxy and telephone bidding service,
details of which, together with the terms and conditions, can be
found on the website or at the end of this catalogue.
For those of you who cannot attend but want to follow the
auction online please go to our website. This service will be
available from the start of the auction.
Keep in touch with us:
We are here to help you. If you register your
interest with us via our website or by contacting us directly this
will help us keep in touch with you if there are changes.
For more information please contact us.