Page 44 - Shepherd Commercial Auctions - Catalogue 22/02/2024

SHEPHERD BUYER TERMS (SCOTLAND)
TERMS AND CONDITIONS FOR BIDDING AND BUYING AT AUCTION
innocent mistake, you will not be able to personally participate in the Auction and we are not liable to you for any loss of opportunity.
14.9 If you wish to bid by internet (assuming you 15.2 have fully completed the registration steps),
after completing the registration steps, you will
be sent a link via email to bid online. You can
then log in and commence bidding when the intended lot is being offered. We do not accept any liability for any loss of opportunity 15.3 should there be any interruption or suspension
of internet services, which mean you cannot personally participate in the Auction.
14.10 In the case of written ‘proxy’ bids, the auctioneer’s 15.4 staff will compete in the bidding up to the maximum of the authorisation. If no maximum
is inserted, the auctioneer’s staff will not bid. We 15.5 do not guarantee to regulate the bidding so
that the maximum authorised bid actually falls to the written bidder.
14.11 Once authority to bid has been given, this is 16. binding on you up to 11pm on the day on 16.1 which the particular lot is auctioned. This is
to allow for the possibility of a seller agreeing
Events, (hosted by a live auctioneer), the auction for the lot will end on the fall of the auctioneer’s gavel.
As soon as the events mentioned in 15.1 (as appropriate) occur, you are immediately liable to pay the deposit and applicable fees. You immediately become responsible for insuring the property – the property is at your risk from the moment that you win the bid.
You must present to us your name and address on request and, if appropriate, the name and address of the person or company on whose behalf you were bidding.
We reserve the right to require you to provide a form of ID to us, on request, to hold as security (e.g.: passport or driving license).
You will not be entitled to take possession of the property or have keys to the property until completion of the sale.
LEGAL PACK & LEGAL ADVICE
You must view the legal pack and home report for a lot. It is strongly recommended that you instruct a qualified professional to review this and raise any necessary enquiries before bidding.
formal Minute of Preference and Enactment that, together with the Articles of Roup, forms the contract of sale;
18.2.2 Provide all necessary identification and proof of address documentation;
18.2.3 Take all necessary measures to complete the sale within 20 business days (or as otherwise stated in the special conditions);
18.2.4 Signaformalwrittencontractifrequested to do so;
18.2.5 Pay any applicable Buyer’s Fee (see clause 4);
18.2.6 Pay a deposit (see clause 4); and
18.2.7 Complete the sale (and pay the full purchase price) within 20 business days (or as otherwise specified in the special conditions).
18.3 If you fail to comply with the conditions set out above, we may (as agent for the seller) treat you as being in repudiatory breach of the contract of sale and so treat that contract as at an end. This means we can re-offer the property for sale. You will not be able to recover your deposit or Buyer’s Fee and the seller will have a claim against you for breach of contract.
19. OBLIGATIONS UNDER A PRIVATE TREATY SALE
19.1. The Auctioneer may, on a case-by-case basis as it deems appropriate, facilitate ‘private treaty’ sales, whereby the property may be sold outside of auction conditions. In the event of such a private treaty sale, the Auctioneer shall still be due the applicable Buyer’s Fee/Reservation Fee as would be due in accordance with our auction terms.
19.2. The Auctioneer reserves the exclusive and absolute right to determine which party shall be liable for payment of the Buyer’s Fee/Reservation Fee. If we determine that the liable party shall be you as the buyer, we shall issue both a memorandum of sale stating the agreed payment arrangement and an invoice for the applicable Buyer’s Fee/Reservation Fee to your solicitor. You shall pay the full fee to your solicitor upon completion (in addition to the completion monies owed separately to the seller). The fee shall be held by your solicitor on trust and be transferred to us as Auctioneer without unreasonable delay.
19.3. As Auctioneer, we may work to facilitate such a private treaty sale in partnership with other agents. It shall not be a valid reason for you to refuse or reduce payment of the Buyer’s Fee/Reservation Fee on completion to us on the grounds of the comparative amount of work performed by any other agent facilitating the sale. If you fail to pay the full fee in accordance with the arrangements stated on the memorandum of sale, we as Auctioneer reserve the right to take enforcement action against you with debt recovery agents.
19. DEPOSITS
19.1 When you pay a deposit, we will hold your deposit as stakeholder for the seller (subject to clause 19.6)
19.2 The deposit is non-refundable. If you withdraw from the sale, you will not get your deposit back. We will pay the deposit to the seller’s solicitor/conveyancer.
19.3 If the seller withdraws from the sale, we will return the deposit to you or your solicitor/conveyancer.
19.4 When the sale completes, we will pass the deposit to the seller’s solicitor/conveyancer and it will be deducted from the purchase price of the property.
19.5 We may retain the Minute of Preference and Enactment signed by or on behalf of the seller until the deposit has been received in cleared funds.
19.6 If you pay the deposit but do not pay your Buyer’s Fee on time, we may deduct the amount of the outstanding fees from the deposit. This means that the amount passed to the seller’s solicitor/conveyancer will be the deposit less any
to sell post auction where the bidding has not reached the reserve.
16.2 The legal pack and home report can change at any time up until the auction starts so you must check the most recent version of the legal pack and the addendum before bidding on the property. Failure to check for changes to the legal pack will not be a valid reason for withdrawing from the sale.
14.12 The authority can only be withdrawn by written notification via email actually received
us by 5pm the day before the Auction, or delivered into the hands of the acting auctioneer in the Auction room half an hour before the start of that day’s Auction. It is
your responsibility to obtain a receipt of a 16.3 copy of the withdrawal notification authorised
by a representative of the Auctioneer. Without such a receipt, the authority stands, and any successful contract is binding on you.
14.13 If you submit a bidding form to us, and also bid in person at the Auction without having previously withdrawn the bidding form authority, the auctioneer is at liberty to accept
such bid in addition to any bid from SDL Property Auctions staff as directed in your 16.4 bidding form. This also applies if an agent
bids on your behalf. We accept no liability whatsoever if the price achieved is the result only of this competition in bidding, without intervention from other bidders.
14.14 The receipt of a remote bid shall not in any way hinder the right of the seller (or auctioneer) to withdraw any lot or to sell prior to auction to a third party. 17.
14.15 The auctioneer may disclose to the seller that 17.1 a Remote BidhasbeenenteredfortheProperty,
but not the amount of the maximum bid.
14.16 The auctioneer may reject bids where there is any error, doubt, omission or uncertainty for any reason whatsoever. We also will not proceed with your bid if your instructions or authorisations are unclear. We accept no liability if we cannot accept your bid, and give no warranty, or guarantee, that a bid would be made on your behalf.
14.17 Neither the seller nor the auctioneer shall be under any liabilitytoyouintheeventthatthelot is not offered at the Auction.
14.18 When you make a bid, whether at the auction venue or remotely,youaredeemedtohaveread all relevant terms and conditions, the sales particulars for the lot, and the contents of the legal pack (including any Special Conditions of Sale). You shall be deemed to have taken all necessary professional and legal advice, and to have made enquiries and have knowledge of any announcements to be made from the rostrum and any of the addendum relating to the relevant lot. The addendum can, and should, be
The legal pack and home report is not prepared by SDL Property Auctions and we are not responsible for and give no guarantee or assurance as to the accuracy of its contents. We shall not have any liability to you for any inaccuracies contained in the legal pack. Where we display or provide documents provided or created by third parties, we do so only on the basis that we are not responsible for the accuracy of the information contained in that document.
If you require legal advice concerning the contents of the legal pack or conveyancing process, you must direct these questions to the instructed third party who is acting for the seller. SDL Property Auctions cannot provide legal advice concerning the contents of the legal pack or the conveyancing process, and we accept no liability for any inaccuracy or omission of legal advice provided by any third party.
YOUR OBLIGATIONS TO US
You must:
17.1.1 Familiarise yourself with these terms in their entirety before bidding;
17.1.2 Provide all information we reasonably need to be able to complete the reservation agreement, memorandum of sale, or Minute of Preference and Enactment to effect the contract of sale when you are the winning bidder (we may sign on your behalf);
17.1.3 Sign the necessary documents including the Reservation Agreement or Minute of Preference and Enactment (as applicable) when you are the winning bidder (we may sign on your behalf);
17.1.4 Pay the applicable Buyer’s Fee detailed in clause 4;
17.1.5 Pay the applicable deposit detailed in clause 4;
17.1.6 Complete the sale within the timeframes set out in clause 4;
17.1.7 Provide all necessary identification documentation to allow us to comply with our legal obligations.
18. OBLIGATIONS UNDER A CONTRACT OF SALE
18.1 As soon as your bid is accepted at the close of the auction of an unconditional lot, a contract of sale is entered into.
Under the contract of sale, you must:
18.2.1 Provide all necessary information reasonably required to complete the
44
checked prior to the website.
15. THE WINNING BID
bidding by
visiting
15.1 The successful bidder is under a binding contract
to purchase the relevant property when the auction for the lot comes to an end. For Timed 18.2 Auctions conducted online, the timeslot for each
lot will be displayed on the webpage. For Auction
www.sdlauctions.co.uk |
36456 Shepherd Buyers Terms without conditional Oct23.qxp_GP 13/10/2023 12:09 Page 3