- The Auctioneers – Being (Benjamin Stevens Auctions Ltd) will generally offer the lots in the order as shown in the catalogue, although they reserve the right to amend the order of sale.
- Addendum – The addendum is an important document and provides details of amendments to the catalogue and Conditions of Sale. Prospective buyers should ensure that they inspect this document as its contents will form part of the sales contract. Prospective buyers should ensure that they have a copy of addendum prior to bidding and are deemed to have read these documents whether they have done so or not.
- Changes – Benjamin Stevens Auctions will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. Neither the Auctioneers nor their clients can be held responsible for any losses, damages or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction.
- Documents – Prospective buyers bid on the basis that they have checked the Common Auction Conditions of Sale, and the Special Conditions of Sale relating to each individual lot. If there is a conflict between them, the Special Conditions of Sale shall prevail. Details are contained within the legal packs for each lot that are available for inspection at the offices of the Auctioneers or can be downloaded free of charge from the website. Legal documents will also be available in the auction room on the day of the sale.
- Enquiries – Prospective buyers bid on the basis that they are deemed to have inspected all lots, have made all necessary enquiries and have checked the legal documentation. Buyers are deemed to be satisfied that they fully understand their content. The Auctioneers strongly suggest that buyers take legal and professional advice prior to bidding on any lot. The Auctioneers will make every possible endeavour to provide access to all lots prior to the sale although this cannot be guaranteed. The Auctioneers will attempt to answer any queries prior to auction and in the auction room. The Auctioneer will not be able to answer any questions whilst the auction is proceeding.
- Guide Price – This is an indication of the Seller’s current minimum acceptable price at auction. The guide price is given to assist prospective buyers in deciding whether or not to pursue a purchase. It is usual, but not always the case that a provisional reserve price 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 minimum acceptable price (reserve) would fall. Both the Guide Price and the Reserve Price can be subject to change up to and including 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.
- Bidding – On the day of sale it is the bidder’s duty to bid clearly without delay. Bids may be refused at the Auctioneers discretion and the Auctioneers reserve the right to bid on behalf of the vendor up to the reserve. At the fall of the hammer the successful bidder will be under a binding contract to purchase the property in accordance with the general and special conditions of sale, together with addendum and contents of this notice. The buyer will then be required to pay the deposit and sign the auction memorandum. Should the buyer refuse, the Auctioneer is legally entitled to sign the memorandum on behalf of the buyer or alternatively offer the lot to the under bidder or any other party and claim any resultant loss against the original buyer. Completion and payment of the balance of the purchase money is 28 days after the exchange of contracts unless the conditions of sale provide otherwise.
- Deposit – A deposit amount of 10% of the selling price (plus VAT where applicable) is required for each lot subject to a minimum of £5,000 unless otherwise stated by the Auctioneer. Payment can be made by banker’s draft, or by debit card. We can accept credit cards but please be advised that an additional 1.5% will be charged at time of use.
- Admin Charge – A successful purchaser will also be required to pay a Buyer’s Administration charge of £1500 (inclusive of VAT) (unless specified otherwise in the property description) payable to Benjamin Stevens Auctions Ltd.
- Reserve – Properties are sold subject to a reserve price whether declared or not.
- Keys – Please note that purchasers will not be entitled to keys or access to vacant properties until completion of the sale. If access is required it may be arranged through the relevant Auctioneers with the express permission of the vendor. The buyer will be responsible for insuring the lot that they purchase from exchange of contracts unless the Special Conditions of Sale state otherwise.
- Warranty – No representation or warranty is made in respect of the structure of any properties or in relation to their state of repair.
- VAT – Unless otherwise provided in the Special Conditions, all lots are sold exclusive of VAT.
- Telephone Signal – If bidding by telephone, the Auctioneers accept no liability for poor signal or being unable to reach the prospective buyer at the time required.
- Proof of Identification – In order to comply with Anti-Money Laundering regulations, we ask all prospective buyers to provide two forms of identification in order to register;
- Proof of Identity
- Proof of address dated within the last 3 months.
Full details of Proof of Identity can be found within our AML procedure
