Page 37 - Shepherd Commercial Auctions - August 2024

36456 Shepherd Buyers Terms without conditional Oct23.qxp_GP 13/10/2023 12:09 Page 4
SHEPHERD BUYER TERMS (SCOTLAND)
TERMS AND CONDITIONS FOR BIDDING AND BUYING AT AUCTION
fees that have been deducted and you will need
to make up this difference when you pay the full
purchase price.
19.7 Interest earned on the deposit (if any) will be
passed to whoever the deposit is passed to.
20. PAYMENT
20.1 For Timed Auctions, fees and deposits must be
paid before exiting the online bidding platform
through our third-party provider Sagepay. You
will be required to provide your card details to
access the online bidding platform. Your card will
then be charged automatically in the event that
you place a winning bid, for the applicable fees
and deposit. You will receive an automatic email
confirming receipt of payment. The amount that
will be automatically charged will be fixed at the
point you place your bid, and is calculated in
accordance with the guide price of the Property
that applied at the time of placing your bid. If the
guide price is subsequently reduced, SDL
Property Auctions will issue a refund of the
difference in monies taken. If the amount charged
to your card does not equal the total payment
required, you will then be contacted by a
representative of SDL Property Auctions to pay
the difference over the telephone.
20.2 For Auction Events conducted in-person at the
auction venue, fees and deposits must be paid
before leaving the auction venue.
20.3 For Auction Events conducted via livestream,
fees and deposits must be paid immediately after
a winning bid has been placed. Prior to the
auction, we will email you to register your debit
card details with our third-party provider, Stripe.
Your payment details will be stored on their
secure online payment platform. Payment will
only be taken from you in the event of a winning
bid. If you are the winning bidder, payment will be
taken on the day of the auction. Our
representatives will attempt to make a courtesy
call to you before charging your debit card,
however we reserve the right to process the
payment owed if we cannot make contact for any
reason.
20.4 20.5 We do not accept cheques.
You cannot use a credit card or cash to pay any
part of the deposit.
20.6 If you fail to pay fees or the deposit by the
specified timescales in 20.1, 20.2 or 20.3 as
appropriate, we can (as agent for the seller) treat
the contract of sale or reservation agreement (as
applicable) as repudiated (terminated) and
reoffer the lot; if we do this, the seller may take
legal action against you. Alternatively, we may
sign the appropriate documents (reservation
agreement, memorandum of sale, or Minute of
Preference and Enactment) on your behalf.
21. BETWEEN THE END OF THE AUCTION AND
COMPLETION
21.1 From the date of the contract of sale the seller
does not have a responsibility to insure the lot
and you bear all risks of loss or damage unless the
lot is sold subject to a tenancy that requires the
seller to insure the lot or the special conditions
require the seller to insure the lot.
21.2 If the seller is required to insure the lot, then the
seller:
21.2.1 21.3 Must show you, on request, all relevant
insurance details;
21.2.2 Must use reasonable endeavours to
maintain the policy;
21.2.3 Gives no warranty as to the adequacy of
the insurance;
21.2.4 Must, at your request, use reasonable
endeavours to have your interest noted on
the policy if it does not cover a contracting
purchaser; and
21.2.5 Must hold on trust for you any insurance
pay outs made under the policy, and you
must, on completion, reimburse the seller
for the cost of that insurance policy.
No damage or destruction of the lot, nor any
deterioration in its condition, however caused,
entitles the buyer to any reduction in price or to
delay completion or to refuse to complete.
21.4 You have no right to enter into occupation of the
lot before completion.
22. 22.1 PROOF OF IDENTITY AND RESIDENCE
We are required under the Money Laundering,
Terrorist Financing and Transfer of Funds
(Information on the Payer) Regulations 2017 to
verify the identity and residential address of our
customers. We will therefore require you to
provide proof of identification (such as a passport
or driving license) and may request other
supporting documentation at our discretion.
22.2 If we ask you for proof of identification and you
do not provide the necessary documentation
before the auction, we may prevent you from
bidding and we will not be liable to you for any
losses suffered as a result.
22.3 If you refuse to provide such identification, the
sale will not go ahead, and you will lose any
deposit, Reservation Fee or Buyer’s Fee that you
have paid.
22.4 We will use the information you provide to
perform an electronic identity check, using third-
party providers, such as Credas and Thirdfort.
These providers will check the personal details
supplied against their databases to verify your
identity and residential address. This is not a
credit check and will have no effect on your credit
history. These third parties may also use your
details in the future to assist other companies for
verification purposes. By registering to bid, you
consent to this electronic identity check being
undertaken.
22.5 Where the deposit or fees are paid from a bank
account in someone else’s name, we may require
that person to provide us with appropriate
identification.
22.6 Where there is more than one buyer, we require
all buyers to provide appropriate identification
and undertake electronic identity checks as
explained in 22.4.
22.7 If you are bidding as agent for someone else, we
require form of authority signed by the potential
buyer for you to bid on their behalf, together with
appropriate identification from both you as agent
and the principal. Electronic identity checks will
be conducted on you both in accordance with
22.4. By signing this Agreement, you confirm that
the principal is aware that this electronic identity
check will be undertaken and understands the
purpose for which we are processing their
personal data.
22.8 If you are bidding as a representative of an
organisation, we require all individuals exercising
significant control over the organisation to
provide appropriate identification and undertake
electronic identity checks, as explained in 22.4.
We may request additional information from you
to identify such persons. All relevant parties
affiliated with the organisation must comply with
their obligations under section 22 of this
Agreement before the sale can proceed.
22.9 If we ask you (or any affiliated individual involved
in the purchase) for proof of identification/
residency and you do not provide the necessary
documentation before the auction, we may
prevent you from bidding and we will not be liable
to you for any losses suffered as a result.
23. CONFLICTS OF INTEREST
23.1 We are legally required to disclose to you any
conflict of interest that we may have with the
seller, and we are required to disclose to the seller
any conflict of interest we may have with you.
23.2 If you think you might have a conflict of interest
with us (for instance, because you or a family
member works for SDL Property Auctions),
please let us know as soon as possible so that we
can comply with our obligation to notify the seller.
23.3 If we know of a potential conflict of interest
between us and the seller, we will include it in the
information about the property. Sometimes, we
do not find out about potential conflicts straight
away, so always check the property information
again before bidding.
24 WITHDRAWING FROM THE SALE
24.1 24.2 24.3 If you are the winning bidder, you are legally
obliged to buy the property.
If you withdraw from the sale before completion,
there will be several consequences:
24.2.1 You will lose any non-refundable deposit
that you have paid;
24.2.2 You will lose any non-refundable Buyer’s
Fee that you have paid;
24.2.3 You will lose any non-refundable
Reservation Fee that you have paid;
24.2.4 The seller may take legal action against
you for breach of contract.
If you fail to complete the sale by the completion
date, also known as the “Settlement Date”, you
will have ten additional days to complete as
explained in the Articles of Roup which form part
of these terms (see clause 25). After this time, the
seller may rescind the contract and we can
reoffer the property for sale without any
obligation owed to you, and you will lose your
non-refundable fees and deposits.
25. CONDITIONS OF SALE
25.1 When you buy at auction under an unconditional
sale, you agree to be bound by the Minute of
Preference and Enactment & Articles of Roup,
which form part of and are in addition to these
terms. The Minute of Preference and Enactment
& Articles of Roup will be signed on your behalf
under the authority provided in this Agreement.
These documents can be viewed on SDL
Property Auctions’ website, or you can ask us for
a copy. You must read the Minute of
Preference and Enactment & Articles of Roup
in full before purchasing a property through
SDL Property Auctions. If you fail to do so,
you will remain bound under these terms.
26. OUR LIABILITIES
26.1 In marketing and auctioning property, we act only
as agent for the seller of that property, we do not
act on our own behalf.
26.2 We offer no guarantees or representations as to
the condition of specifications of any property
that we offer for sale.
26.3 26.4 26.5 26.6 We offer no guarantee or representation that the
seller will complete the sale within the required
period.
We shall not be liable to either party if the buyer
or seller withdraws from an agreement to sell and
thereby causes loss to the other party.
You acknowledge that to the extent permitted by
law we owe you no duty of care and you have no
claim against us for any loss.
We do not exclude our liability for anything that
we cannot legally exclude liability for, including
death or personal injury and fraudulent
misrepresentation.
27. JURISDICTION
27.1 These terms are subject to the exclusive
jurisdiction of the courts of Scotland.
28. RESOLUTION OF COMPLAINTS
28.1 28.2 Our complaints handling policy can be found at:
www.sdlauctions.co.uk/complaints-handling-
procedure/
We are regulated by The Property Ombudsman
whose website is: https://www.tpos.co.uk/
29. DATA PROTECTION
29.1 We will process your personal data in accordance
with our data protection policy:
www.sdlauctions.co.uk/privacy-policy/.
Document updated October 2023
| www.sdlauctions.co.uk
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