Page 25 - Shepherd February Commercial Auction 2023

SHEPHERD BUYER TERMS (SCOTLAND)
TERMS AND CONDITIONS FOR BIDDING AND BUYING AT AUCTION
acknowledge that bids below the reserve price may be made by or on behalf of the seller.
7.5 The seller can choose to sell below the reserve price prior to auction.
8. GUIDE PRICE
8.1 The guide price is the marketing price or advertised price for the lot.
8.2 The guide price is not a guarantee or an indication of minimum value. The guide price is not necessarily the market value of the lot.
8.3 The guide price is not set with the help of a Chartered Surveyor and you must engage your own reports and surveys to satisfy yourself of the value of the property before you bid.
8.4 The guide price can change at any time up to the start of the auction.
8.5 The sale price can exceed the guide price. Sometimes, the sale price is lower than the guide price.
9. CHECKING FOR UPDATES
9.1 Lots of information can be changed up to the time of the auction, including the property details, reserve price, and guide price. You must make sure you check for updates before you bid for a property.
9.2 If you fail to check for updates, you do so at your own risk.
9.3 You can check for updates by:
9.3.1 Checking the webpage for the lot;
9.3.2 Re-downloading the legal pack on the day of the auction;
9.3.3 Checking any late announcements and addendum documents; and
9.3.4 Listening carefully to the auctioneer introducing the auction and the property.
9.4 When you bid, you are taken to have read any late amendments, addendums, or updates even if you have not done so. You are deemed to have full knowledge of any changes made to the information provided about the lot (including the legal pack).
9.5 The auctioneer will make announcements at the start of the auction and it is important that you listen carefully (as well as taking the steps listed in 11.3). After the initial announcements, the auction will proceed without delay and the auctioneer will not describe the properties in detail nor read out the special conditions or amendments.
10. TAX
10.1 Stamp Duty Land Tax, Land and Buildings Transaction Tax, VAT, or other charges may apply to some sales. These costs will not be confirmed in the legal pack.
10.2 It is your responsibility to make your own enquiries and seek appropriate advice as to the possible tax consequences of the sale before you bid.
10.3 If you withdraw from the sale after you have won the lot because of tax consequences, you will lose any deposits or fees paid and the seller may take legal action against you.
11. THE LOT
11.1 All the statements contained in particulars of sale or descriptions of the lots in documentation or given by our employees or agents are made without responsibility and you must not rely on them as statements or representations of fact. They do not represent
any warranties whatsoever in relation to the lots. You must satisfy yourself as to the accuracy of the particulars before bidding.
11.2 Any suggested rental incomes and yields may be subject to any necessary energy efficiency improvements. In Scotland, from 1 October 2020, any new tenancy will require the property to have an EPC of at least band E; by 31 March 2022, all properties will need to have at least EPC band E. If the particulars of sale state that the property is suitable for investment it will be for the buyer to ensure that the relevant EPC requirements are met.
11.3 The lot is sold subject to any tenancies disclosed in the legal pack or lot description.
11.4 The lot is sold subject to any special conditions set out in the property description or associated documentation but otherwise is sold with vacant possession on completion.
11.5 All measurements quoted in descriptions of the lot are approximate. You must verify the measurements yourself by visiting the property and/or commissioning a professional report or survey.
11.6 All location plans published in the particulars of sale are subject to copyright and are only provided to enable prospective purchasers to locate the property. The plans are not to scale and are not intended to depict the interest to be sold. The boundary lines and numbers on the plans or photographs are provided only to allow purchasers to locate the lot and do not depict the interest to be sold. You must visit the lot and commission the relevant searches and reports.
11.7 When you bid on a lot you are deemed to have relied only upon your own knowledge or the advice of your own professionals or advisors, and not on the particulars of sale or description or photographs of the lot.
11.10.7 Any overriding interest
11.10.8 Matters that ought to be disclosed by the searches and enquiries a prudent buyer would make, whether or not you have made them; and
11.10.9 Anything the seller does not and could not reasonably know about.
11.11 Where anything subject to which the lot is sold would expose the seller to liability you are to comply with it and indemnify the seller against that liability.
11.12 The seller must notify you of any notices, orders, demands, proposals, and requirements of any competent authority of which it learns after the contract date, but you must comply with them and keep the seller indemnified.
11.13 The lot does not include any tenant’s or trade fixtures or fittings. If the special conditions state that chattels are included, you take them as they are at completion and the seller is not liable if they are not fit for use. From 1st April 2022 any new tenancies will require EPC band D and from 31st March 2025 all properties will need to have at least EPC band D.
11.14 You buy with full knowledge of the documents relating to the lot (whether or not you have read them) and the condition of the lot (whether or not you have inspected it and commissioned appropriate reports and surveys). This is why it is important that you take the steps set out in 7.2.
11.15 You admit that you are not relying on the information contained in the particulars of sale or on any representations made by or on behalf of the seller, except that you may rely on the seller’s solicitor/conveyancer’s written replies to written enquiries to the extent stated in those replies.
11.16 The seller cannot be required to transfer the lot to anyone other than the buyer.
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11.8 All Ordnance Survey maps are reproduced
with the sanction of the Controller of HM
Stationery Office (Crown Copyright Reserved ROUP Licence No LIG0183).
11.9 The services, kitchen and sanitary ware, electrical appliances and fittings, plumbing and heating installations (if any) have not been tested by us or by the seller. Before you bid on a property, you must undertake your own investigations, reports and surveys to clarify the suitability and condition of any such services.
11.10 The lot is also sold subject to the following, whether or not they are disclosed by the seller or are apparent from inspection of the lot or from the documents provided or from the legal pack or would have been obvious had you acted as a prudent buyer:
11.10.1 Matters registered or capable of registration as local land charges;
11.10.2 Matters registered or capable of registration by any competent authority or under the provisions of any statute;
11.10.3 Notices, orders, demands, proposals, and requirements of any competent authority;
11.10.4 Charges, notices, orders, restrictions, agreements and other matters relating to town and country planning, highways, or public health;
11.10.5 Rights, easements, quasi-easements, and wayleaves;
11.10.6 Outgoings and other liabilities;
12.1 The lots are sold subject to any special conditions of sale, which are available for inspection at the office of the seller’s solicitor/conveyancer, our office, in the auction room, and on our website.
12.2 The lots are sold subject to the Articles of Roup which are available for inspection at the office of the seller’s solicitor/conveyancer, our office, in the auction room, and on our website.
12.3 The Special Conditions may include additional fees inserted by the seller, and are separate to those payable to SDL Property Auctions.
12.4 You must view and take into account the special conditions and Articles of Roup before bidding.
12.5 When you bid, you are taken to have read and accepted the special conditions and Articles of Roup, even if you have not done so.
13. SALE BEFORE OR AFTER AUCTION
13.1 Lots may be sold before the auction.
13.2 If you submit a bid before or after auction and it is accepted, the same fee and deposit rules apply as if the lot had been sold at auction.
13.3 To submit a pre-auction bid, you must submit a formal written offer to us.
13.4 You cannot withdraw a pre or post-auction bid once a reservation contract has been signed or contracts of sale have exchanged.
13.5 If you submit a pre or post-auction bid, you are
12. SPECIAL CONDITIONS AND ARTICLES OF