1. Prospective buyer shall be deemed to have inspected the relevant property
and made all usual and necessary
searches and enquiries with all
relevant authorities and other bodies
2. Prospective buyers should always
check the addendum sheet and
late entry sheet to see if there are
any alterations or amendments to a
particular of the property or
properties they are interested in
bidding for these are available from
the auction department or at the sale
prior by telephone or email.
3. As soon as the auctioneer’s gavel
falls on a bid the successful bidder
is under a binding contract to buy
the relevant property the buyer is
immediately at risk in relation to the
property and should therefore ensure
insurance cover is in place. Make
prior arrangements for any relevant
insurance cover that may be
required.
4. On a property being knocked down
the successful bidder must
immediately present to the
auctioneer’s clerk his name and
address if appropriate the name and
address of the person of the
company for whom he is buying this
information will be used to complete
the memorandum of contract as
included in this catalogue.
5. The successful bidder must sign an
exchange with one of the auctioneer’s
staff and present a 10% deposit of the
purchase price subject to a minimum
of £5,000. In default of any of the
above the auctioneer shall be entitled
of agent to the seller to treat this as a
failure or default as repudiation and
rescind the contract there after the
auctioneer shall be entitled if he or
she chooses to do so to resubmit the
property for sale if a successful bidder
does not pay the deposit and or
complete the memorandum the
seller reserves the right to claim any
loss suffered as a result of
6. The seller has the right to sell before
auction or withdraw the lot and
neither the auctioneer nor the seller
is responsible for any abortive costs
losses or damages made to the
prospective buyer. Information on
presale lots or withdrawals can be
obtained from the auctioneers at any
time.
7. Prospective buyers are strongly
advised to check these particulars
as to measurements areas and all
other matters in which the properties
are exposed to be subject to and
have the benefit of and in respect
of the content fixtures and fittings
expressed to be included in the sale
by making inspection the properties
and all the necessary requirements
with London City Auctions, the seller
and the sellers professional advisers
and all other appropriate authorities
as the buyer deems necessary all
measurements and areas referred to
in these particulars and this
catalogue are approximate only.
8. All location plans are published
subject to the particulars of sale and
enable prospective buyers, only to
locate the lot. The plans and
photographs that are reproduced
therefore are not to scale and are
not intended to depict the interest
to be sold and are for identification
purposes only the boundary lines and
numbers on the photographs are only
given to enable prospective buyers
to locate the property and are not
intended to depict the interest be sold
9. Buyers are advised to view any
special conditions in respect of the
precise interest to be conveyed upon
purchase
10. Any guide price is issued, or any
estimates or values mentioned, or
discussions should not be relied upon
by prospective buyers as
representing professional valuations
or for the purposes in accordance
with the requirements and guidance
note of the relevant bodies such as
the RICS or other authorities.
11. Prospective buyers are deemed to
have relied upon their own knowledge
or advice of their own professionals.
12. Inspection and Investment properties
is courtesy of the tenants where
applicable inspect properties with
vacant possession only by
arrangement with the auctioneers.
Interested parties must ring the office
and discuss their viewing
arrangements.
13. The sale of each lot shall be subject to incorporate the following documents as these general conditions of sale incorporate the standard conditions of sale 5th edition where any inconsistency results these general conditions of sale shall have presidents.
14. Special conditions of sale will be
attached to the contract special
conditions of sale take precedence
over the general conditions of sale
important notice to bidders must be
read which forms part of the auction
catalogue. particulars of the lot which
form part of the auction catalogue
and any relevant and referred to in
the particulars and all the special
conditions.
15. The auctioneers may by
announcement made at the
commencement of the auction or
when calling the lot or at the time
prior to the lot being knocked down
reasonably change the number and
identity of the documents to be
incorporated in the sale provided
that the auctioneer shall use his
reasonable endeavors to make such
a variation as early as possible before
the auction.
16. A copy of the standard conditions
and element plans may be inspected
at the offices of the auctioneers or on
their website before the sale. Special
conditions of sale and particulars
of the auction are included with the
auction catalogue save to the extent
of any immediately before the sale
special conditions are stated to be
available upon application as all
these general conditions. The
purchaser shall read and understand
the contents of the documents
subject to each lot which is sold and
the purchase of seek out professional
advice as appropriate on those
documents.
17. Immediately following the lot being
knocked down to the purchaser
irrevocably authorizes the auctioneer
for and on behalf of the purchaser to
sign the memorandum of contract
stating the price the required upon,
the short address of the lot the name
and the name of the vendor and
purchaser and the date of contract
having a text to the document
referred to under paragraph 1 above
as such all the documents as the
auctioneer shall have determined
under these paragraphs.
18. Standard conditions shall be read as
follows apportionment of incoming
outgoing shall be made with effect
from the date of the actual
completion and if the sale shall not
be completed on the completion
date other than due to the default of
the vendor the vendor shall be
entitled to receive the income from
the property and the purchaser shall
pay the vendor compensation
calculated at contract rate on the
purchase price giving credit for the
deposit paid if any from the
completion date to the date of actual
completion
19. The sale is subject to a reserve price
for each of the properties and the
vendor has the right to bid both up
to but not including the reserve price
through the auctioneer at the auction.
20. The auctioneer reserves the right to
refuse to accept any bid or bids
without assigning any reason
therefore to his sole and absolute
discretion in the event of any dispute
of bidding the auctioneers decision
shall be final.
21. Upon the property being knocked
down the successful bidder must
upon being asked by the auctioneer
give his name and address if not
already done on all agreements and
warranties given by or on behalf of
them purchaser or the Grantor as
defining the general conditions
pursuant to the particulars of the
conditions of sale
22. Were such party consist of two or
more person’s be deemed to be joint
and several liable.
23. In the event of the purchase of being
a limited company or a non-natural
body it is agreed that this contract is
being entered into in respect of the
person whose bid the auctioneer
has accepted in consideration of this
contract being entered into at the
request of the grantor the warrants
that the purchasers is a properly
constituted a limited company at the
company is in power to purchase and
take on a lease or otherwise acquired
any lands or buildings or estate or
interest in any rights connected with
such lands or buildings therein and
that he has authority to bind the
company to this contract as agent
on its behalf and guarantees to the
vendor as witnessed in this
agreement the general conditions of
sale and special conditions shall be
deemed to having been signed off
both by the agent and by the
company.
24. The purchaser will observe the
performance of its obligations under
the contract in accordance with the
auctioneers general conditions of
sale and varied by and special
conditions of sale and we’ll pay and
make good any vendor or losses
costs damages or expenses occasion
to the vendor by the
non-performance of all of the terms
and conditions of the contract
or any of them including but without
prejudice to the general foregoing the
non-payment of the deposit in whole
or in part of the purchase price or any
other monies which may become due
on completion. it is agreed that any
neglect or performance on the part of
the vendor in importing or giving time
to the purchaser for the performance
of the terms and conditions under
the contract shall not in any way
release in respect of liability under the
conditions.
25. If the purchaser shall enter into
liquidation The Liquidator shall
disclaim the contract and the vendor
within 28 days of such disclaim give
14 days’ notice and accept assurance
that the property may be resold.
26. The purchaser shall accept that
vacant possession is given of the
whole or part or any part offered with
vacant possession not withstanding
that there may be furniture fittings
effects remaining that shall not be
required to be removed and such
content shall not raise any issue.
27. The property if a house or part of a
house may not be occupier
immediately for legal reasons
having matters referred to in the sub
paragraphs the common auction
conditions.
28. The deposit of 10% plus the buyer’s premium if applicable whichever shall be greater shall be paid to London City Auctions head office immediately after the sale as agents the vendor.
29. The purchase of warrants that any
cheque tendered by him by way
of a deposit will be met upon the
first representation and the drawer
expressly waives the right to notice of
dishonored cheque.
30. For the avoidance of doubt the
contract for the sale of each Lot shell
be concluded upon the auctioneer
or the auction web platform knocking
down the lot to the purchaser. The
payment of the deposit by the
purchaser on the signing of the
memorandum of contract by the
purchaser shall be pre-conditions of
the contract.
31. For further avoidance of doubt no
proceedings brought by London City
Auctions Ltd upon a cheque which is
dishonored shall constitute a waiver
or repudiation nor an election by the
vendor to treat the failure to pay the
deposit as a repudiation
32. The tenure of the property and the
estate or interest sold are as stated
in the particulars and or special
conditions in the case of land where
the title is registered at HM land
registry HM land registry this title shall
be deduced and consisted of the
copy of the entries on the register and
of title plan in the case of land where
the title is not so registered it shall
be deduced as it is provided in the
special conditions.
33. Where the special condition of sale
of any property is sold subject to any
lease covenant restriction or other
matter a copy of the Title covenant
or restriction or other matter may be
provided for in the special conditions
and be inspected at the head office
of the solicitor for the vendor and
the auction department at any time
during normal office hours or in the
saleroom immediately prior to the
sale.
34. Where there are any inconsistencies
arising out of the particulars and or
special conditions as to whether
vacant possession is given on
completion it shall be assumed that
vacant possession is not to be given
on completion
35. Completion of the purchase shall
take place at the office of the vendors
solicitor whenever they shall so
direct four weeks from the date of
the contract or at the opinion of the
vendor in case the property is sold
subject to and with the benefit of
weekly tenancies the completion
date shall be the first Monday or any
other rent payment day falling after
the fourth week from the date of such
contract.
36. The vendor shall not be required to
convey the whole or any part of the
property to the purchaser and shall
not be required to execute a
conveyance other than of the whole
of the property at a price different
from that stated in the contract and
special conditions to that same
contract
37. Whilst reasonable care has been
taken by and on behalf of the vendors
to ensure that all statements in the
particulars and conditions of sale are
accurate purchasers should note
to take necessary steps to verify the
accuracy of all such statements by
inspection survey or by taking
professional advice.
38. The purchaser confirms he will make local land charge searches and
enquiries prior to the auction and the
purchaser further confirmed that he
has inspected survey and taken all
professional advice as appropriate
prior to bidding at the auction.
37. Whilst reasonable care has been
taken by and on behalf of the vendors
to ensure that all statements in the
particulars and conditions of sale are
accurate purchasers should note
to take necessary steps to verify the
accuracy of all such statements by
inspection survey or by taking
professional advice.
38. The purchaser confirms he will make local land charge searches and
enquiries prior to the auction and the
purchaser further confirmed that he
has inspected survey and taken all
professional advice as appropriate
prior to bidding at the auction.
39. Notwithstanding anything in the
special or general conditions of sale
or in the particulars no representation
or warranty of or warranty as to
condition shall be made or implied
either after the state and the
condition of the property or any part
thereof or as whether the same is
subject to any resolution scheme
development or improvement,
improvement notice or scheme
sanitary notice or notices or
information notices or notices of
proposals under the proposed
schemes except where the
auctioneer has expressly made or
given such a representation or
warranty as to condition without any
other condition. No objection or
requisition shall be raised as to the
permitted user of the property for the
purposes of the town and Country
planning Act 1990.
40. Each purchaser shall satisfy himself or herself of ownership electrical wiring fittings gas installations and other such installations within the property sold as in some cases the same can be on hire purchase or subject to other supply company agreements.
41. The property is sold subject to all local land charges subject to the provisions where the registered or not prior to the date of contract and all matters capable of registration as local land charges whether or not actually
registered.
42. All notice is served, and other
demands proposed housing
requirements made by the local,
local public or other competent
authority whether before or after the
date of contract, all legal easements
benefiting the owners or occupiers
of other property and in the event of
title to the property being registered
any of the makers which are subject
to section 70 paragraph 1 of the land
registration act 1925 declaration of
overriding interests.
43. All matters which would have been
revealed at the date of contract by
searches enquiries or inspectorate
inspection by a prudent purchaser
would make but provided that the
vendors and the auctioneers should
take reasonable care to describe the
property and matters affecting the
property.
44. Each purchase should take all
reasonable care and necessary
inspections surveys enquiries as
to the state of repair and condition of
the property and to any tenancies.
45. Each property shall from the date
of contract be at the sole risk of the
purchaser.
46. Nothing shall be incorporated in any sale either collateral or indirectly
whether by way of condition warranty
or representation as to whether the
use of the property sold subject to
any tenancy or tenancies there are
subsisting and sub tenancies in
similar such occupation whether or
not any such shall be disclosed
before the option the purchaser shall
be deemed to purchase with full
knowledge of any such sub tenancy
and some keys or occupation that
there may be whether or not he shall
have inquired of the auctioneers or
have inspected and no obligation
shall be taken or requisition made on
or after.
47. The vendor shall not be required to
reconcile differences between the
description of any lot and the
properties sold or furnish evidence of
any change in the ring of the property
and shall not be bound to show any
title or boundary division walls or
fences of the ownership thereof
however the vendor and the others
will take reasonable care when
describing the property. 49.
Misrepresentation act 1967 all
statements contained in the
foregoing particulars are made in so
far as the law allows without
accountability on the part of the
auctioneers all the vendors and all
statements of opinion and not to be
taken as implying a statement of
representation or fact and any
intending purchasers must satisfy
himself by inspection or otherwise as
to the correctness of each
statement contained within these
particulars however the vendor will
take reasonable care in describing
the property.
48. The vendor does not make or give
any implied representations or
warranties about the property and
the vendor is only taken to make or
give any representation or warranty
that the property if those
representations are expressly stated
by the vendors solicitor.
49. Neither the vendor nor the purchaser may rely on the presentation made by the other unless the representation has been made in writing if information is required about the property the purchaser shall check
with their acting conveyance.
50. The purchaser hereby expressly
agrees that the interest made up on
the deposit paid by him or her shall
be applied for the benefit of the
auctioneers and this conditions shall
continue as a separate agreement
between the purchaser and the
auctioneers.
