Goldings - Catalogue 15/05/2019 · AUCTIONS Ladies and Gentlemen welcome to the catalogue for properties being offered under the hammer in our May 2019 auction. They say ‘the best

AUCTIONS

Ladies and Gentlemen welcome to the catalogue for properties being offered under thehammer in our May 2019 auction.

They say ‘the best things are worth waiting for’ and ‘like the busses… nothing, then two atthe same time’; well this auction can be true of both.

We are delighted to be offering several small investments in Ipswich, which are always inshort supply and attract strong attention. Some of the residential units are on periodictenancies which means they could become vacant within a couple of months making themideal for families looking to help first-time buyers. From an investors perspective, the sameproperties offer sensible, low risk, opportunities that are yielding on day one of ownership.

Then ‘two at the same time’ could be applied to Lots 5 and 8 in this auction. They are bothvacant development sites located in the much sought after northern quadrant of Ipswich.The Sidegate Lane site, Lot 5, was on my radar some 40 years ago when I was a youngnegotiator in the area, only now are we seeing it coming to market. Lot 8 is a 4.5acre sitesituated in the village of Rushmere St Andrew with planning permission for residentialdevelopment.

Concluding, this sale provides opportunities from £20,000 to £3,000,000, and we trust thatyou will find something of interest. Whether it’s your first auction or you are an ‘old hat’ welook forward to welcoming you to the saleroom on the 15 May.

Following this sale, the next auction of 2019 is on 24 July – we welcome all interestedparties and are always available for an informal chat on 01473 210200.

AUCTIONS

All viewings are for 1 hour from the stated start times. There is no need to register to attend one of these published open viewings.

If you are travelling any distance, you are advised to contact our office prior to setting out to confirm the open viewing is still proceeding. Please arrive promptly at the time stated. It is unlikely that we will be holding any additional viewing sessions.

We are only able to offer LIMITED VIEWINGS on some of the TENANTED PROPERTIES. Please do not approach the tenants directly as they have been instructed not to allow any unauthorised viewings.

1

2

3

4

5

6

7

8

9

10

Thu 2

10:00

Sat 4

15:45

14:30

11:00

11:45

12:15

15:00

Tue 7

14:00

Strictly by appointment

Strictly by appointment

No appointment required

No appointment required

Land and Building at Clay Hill, Great Henny, Sudbury, CO10 7NL

427 Bramford Lane, Ipswich, IP1 5JH

29 Norfolk Road, Ipswich, IP4 2HB

33 & 33a Foxhall Road, Ipswich, IP3 8JU

73-79, Hutland Road, Ipswich, IP4 4HQ

72c Cauldwell Hall Road, Ipswich IP4 4QE

14 Levington Road, Ipswich, IP3 0NJ

153, 155 & Land adjacent to 155 The Street, Rushmere St. Andrew, Ipswich, IP5 1DG

Car parking at 785a, Woodbridge Road, Ipswich, IP4 4NN

84 Richmond Road, Ipswich, IP1 4DP

AUCTIONS

The AtriumWherstead Park

Venue AddressThe AtriumWherstead ParkThe Street WhersteadIpswich IP9 2BJ

01473 786565www.whersteadpark.co.uk

Facilities With natural light streaming from the glass ceiling and home to four fullygrown ficus trees, our Atrium brings the great outdoors in to the heart ofWherstead Park. There is ample onsite parking.

Adjacent to the Auction Room is the Atrium Cafe, which provides anexcellent range of hot and cold food and beverages.

DirectionsWherstead Park is situated to the South of Ipswich, adjoining the A14/A137intersection. The A12 and A14 trunk routes provide excellent roadcommunications with London and the Midlands.

By car from A14 EastboundExit at junction 56, signposted A137 Ipswich central, and keep to the right-hand lane. Turn right at the roundabout, over the A14 and continue on tothe A137 Manningtree Road. Take the first left after a few hundred yardsand follow the lane to where it turns sharply right. Do not follow the road –on the corner is Wherstead Park.

By car from A14 WestboundExit at junction 56 and take the first exit at the roundabout onto the A137.Take the first left after a few hundred yards and follow the lane to where itturns sharply right. Do not follow the road – on the corner is WhersteadPark.

Or, you could put IP9 2BJ into your satnav!

AUCTIONS

Buying at AuctionAt the fall of the hammer a binding, unconditional, contract is formed. Thebuyer must complete within the specified time frame, usually 20 workingdays, but this date can vary (please check the special conditions for eachlot) as the legal pack of each property will state the completion date due.

The CatalogueDetails of the property and land to be sold are set out in this catalogue. Alllots are sold subject to Special Conditions of Sale. It is important thatprospective purchasers satisfy themselves as to the location, boundaries,condition and state of the lots before the auction.

Plans and PhotographsThe plans and photographs published in the catalogue are to aididentification of the property only. The plans are not to scale.

*Guide PricesGuide prices are provided as an indication of a Vendor’s minimumexpectation and the level at which the reserve is set. Properties may notalways sell within this guide and this figure may change at any time prior tothe auction. The sale price will be dependent upon the bidding in the auction room and on the Vendors’ instructions.

Reserve PriceEach property will be sold subject to a reserve price, which will be set withinor below the published guide price range. Where a single figure guide isused the reserve will be no more than 10% above this level. This is aconfidential figure set between the Vendor and the Auctioneer and is afigure below which the Auctioneer cannot sell the property.

ViewingsOpen viewings are for 1 hour from the stated start times. There is no needto register to attend one of these published open viewings. Please notethat tenants are specifically instructed not to allow any unauthorisedviewings.

The Legal AspectBuying at auction is a contractual commitment. Before making an offer priorto auction or bidding at the auction, it is advisable to consult a solicitorregarding the General and Special Conditions of Sale, the local authoritysearch and other legal documentation. These documents are availableFREELY from our website www.goldingsauctions.co.uk.

Pre Auction SalesOffers presented on property may be accepted by the Vendor prior toauction. However, Vendors are unlikely to consider pre-auction bids untilcompletion of the full marketing and/or viewing process. Pre-auction bidsmust be made via Goldings Auctions NOT the Vendor’s Solicitors. Wherepossible, buyers who have registered via our website for the property’sLegal Pack will be notified of any pre-auction bids and given the opportunityto compete. The Auctioneers or Vendors cannot be held responsible forcosts incurred in respect of any Lot withdrawn or sold prior to auction.

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Attending the AuctionIt is always wise to allow sufficient time to get to the auction. Legal packsfor most of the properties will be available for inspection. It is important youread these and the final addendum/alteration list, which will also beavailable, as any purchase will be subject to these.

BiddingEach property will be offered individually by the Auctioneer. Ensure that yourbids are clear and noticed by the Auctioneer. If you are successful inbidding for the property you will be approached by a member of Goldingsstaff who will request your personal information and identification.Immediately after the auction, you will be invited to the cashiers desk forpayment of the deposit.

Bidding by Proxy or TelephoneIf you are unable to attend the auction you are invited to contact us todiscuss special arrangements for bidding by proxy or telephone. Forms areavailable from the ‘downloads’ section of our websitewww.goldingsauctions.co.uk.

Proof of IdentificationIn order to abide by the money laundering regulations we ask that allprospective purchasers provide proof of identity. Please bring your passportor photographic UK driving license and a current utility bill, bank statementor council tax bill to the auction. If purchasing on behalf of a company youwill also need to present proof of your position within the company andcompany letterhead.

Solicitors DetailsThe name, address and telephone number of the solicitor who will be actingfor you in any purchase will be required before you leave the auction room.

The ContractSuccessful bidders will be asked to stay behind after the auction hasconcluded to sign the Memorandum of Sale. The Memorandum of Sale willbe signed in duplicate. One copy will be given to you, which you must giveto your solicitor. The second copy will be retained by Goldings to beforwarded to the Vendors’ solicitor.

DepositBuyers will be asked to pay a deposit of 10% of the purchase price subjectto a minimum deposit of £2,000. Deposits can be paid by debit card,bankers draft, building society cheque or personal cheque. Sorry we areunable to accept cash or credit card payments. Please note, should thecheque have to be represented, an administration charge of £50 + VAT willbe charged by deduction from the deposit.

Administration ChargePurchasers will be required to pay by cheque, an administration charge of£720.00 inclusive of VAT in addition to the deposit. A VAT receipt will beissued after the auction.

Post Auction SalesIf a property you are interested in is not sold at the auction, please speak tothe Auctioneer and make an offer. Your offer will be put forward to theVendor and if accepted, you will be able to proceed with your purchaseunder auction conditions.

VACANT SITEVEHICULAR ACCESS340 SQMVARIETY OF USES (STP)QUIET LOCATIONON-SITE INSPECTIONRECOMMENDED

lot 1 0.09 Acre (sts) parcel of land... rare andpeaceful setting in Gt. Henny Village

*for definition, please refer to "auction notes" on page 4All buyers are liable to pay an Administration Charge of £720 inclusive of VAT.Other fees/disbursements may also apply, therefore before making a purchase, please refer to the Legal Pack and Special Conditions.

TENANTED INVESTMENT3 BEDROOMS2 RECEPTIONSGAS C/H (N/T)DOUBLE GLAZINGOPEN ASPECT TO FRONTFLOORPLAN ONLINE

lot 2 3 storey, 3 bedroom end-terracedinvestment... established yield


VACANT3 BEDROOMSCLOSE TOWN CENTREREADY TO LET2 RECEPTIONSGAS C/H (N/T)DOUBLE GLAZINGENC. GARDENFLOORPLAN ONLINE

lot 3 Well presented 3-bed terraced... greatpotential for owner occupier or investor


Buy To Let Specialists01473 212323

[email protected]

10%+ YIELD2X INCOMESEAST IPSWICH1-BED FLATESTABLISHEDCOMMERCIAL TENANT

lot 4 Mixed stock established investment...yield in excess of 10%


www.haywardmoon.co.uk

The conveyancing specialists

Whether you’re looking to move house, remortgage or acquire a commercial property, our dedicated team can assist you through the legal process.

Get a move on!

BURY 01284 727290 CAMBRIDGE 01223 236555 COLCHESTER 01206 710717 DISS 01379 646040 IPSWICH 01473 234730

SOLD SOLD

lot 5 Highly sought-after n/east Ipswich site...prime for development (stp)


DEVELOPMENT (STP)0.21 ACRESRESIDENTIAL AREANORTHEAST IPSWICHBROWNFIELD SITEDOUBLE FRONTAGEAERIAL VIDEO ONLINE

lot 5 (cont.)


2 BEDROOMSEXCELLENT CONDITIONGAS C/H (N/T)DOUBLE GLAZINGPARKINGTHIRD FREEHOLDFLOORPLAN ONLINE

lot 6 Tenanted Freehold/Leasehold 2 bedground floor investment... East Ipswich


Ipswich Mortgage Centre

01473 253344

themortgagecentres.co.uk

fast, effective and stress free!

• Mortgages • Secured Loans • Bridging Finance

Our experienced advisers will guide you through the whole process. As specialists in property finance, we have the knowledge to help make your auction experience...

Individual solutions for every situation…

Your home may be repossessed if you do not keep up repayments on your mortgage.This also applies to any additional borrowing secured on your property.

Want to buy at auction?

Various finance options available

TENANTEDEAST IPSWICHFIRST FLOOR BATHDOUBLE GLAZINGVIEWING ADVISEDGAS C/H (N/T)PARKINGFLOORPLAN ONLINE

lot 7 Semi-detached investment... desirableEast Ipswich location


32 Lloyds Avenue Ipswich, Suffolk IP1 3HD

01473 213 311

Also at: 844 The Crescent Colchester, Essex CO4 9YQ*

01206 584 584

www.kerseys.co.uk

*by appointment only

Call us today on 01473 213 311 to receive your free ‘no obligation’ quote, with a full breakdown of costs.

Whether you are a first time buyer, moving house, buying an additional property, re-mortgaging or buying commercial property we can assist and advise with our friendly and professional service.

Our conveyancing team are here to help.

Good luck in the auction

Jane [email protected]

01473 407122

Edward [email protected]

01473 407141

Sharon [email protected]

01473 407114

Brian [email protected]

01473 407111

lot 8 4.48 acre (sts) prime developmentland... established planning history


CHOICE OF PLANNING18 UNITS OR 53 UNITSVILLAGE LOCATION4.48 ACRE SITE240M ROAD FRONTAGEPRIME DEVELOPMENTEXCITING PROSPECTWELL FAVOURED AREA

lot 8 (cont.)


6 X PARKING SPACESHIGH DEMANDFULLY LET£3600 PAEAST IPSWICHMEDIUM TERM POTENTIAL

lot 9 6 x Freehold parking spaces... popularEast Ipswich location


INVESTMENT PROPERTYESTABLISHED TENANTLOUNGE DINERKEENLY PRICEDDOUBLE GLAZINGHIGH YIELD10% LOW GUIDE

lot 10 Investment property with establishedtenant... refurbishment potential


AUCTIONS

AUCTIONS

The Common Auction Conditionshave been produced for real estateauctions in England and Wales to seta common standard across theindustry. They are in three sections:

GlossaryThis gives special meanings tocertain words used in both sets ofconditions.

Auction Conduct ConditionsThe Auction Conduct Conditionsgovern the relationship between theauctioneer and anyone who has acatalogue, or who attends or bids atthe auction. They cannot bechanged without the auctioneer’sagreement.

Sale ConditionsThe Sale Conditions govern theagreement between each seller andbuyer. They include generalconditions of sale and templateforms of special conditions of sale,tenancy and arrears schedules andsale memorandum.

A prudent buyer will, before biddingfor a lot at an auction:

Take professional advice from a conveyancer and, in appropriatecases, a chartered surveyor and anaccountant;

Read the conditions;Inspect the lot;Carry out usual searches and

make usual enquiries;Check the content of all available

leases and other documents relatingto the lot;

Check that what is said about thelot in the catalogue is accurate;

Have finance available for thedeposit and purchase price;

Check whether VAT registrationand election is advisable;

The conditions assume that thebuyer has acted like a prudent buyer.If you choose to buy a lot withouttaking these normal precautions youdo so at your own risk.

This glossary applies to the auction conduct conditionsand the sale conditions.Wherever it makes sense:

singular words can be read as plurals, and plurals assingular words;

a “person” includes a corporate body;words of one gender include the other genders;references to legislation are to that legislation as it

may have been modified or re-enacted by the date of theauction or the contract date (as applicable); and

where the following words printed in bold black typeappear in bold blue type they have the specifiedmeanings.

Actual completion dateThe date when completion takes place or is treated astaking place for the purposes of apportionment andcalculating interest.

AddendumAn amendment or addition to the conditions or to theparticulars or to both whether contained in a supplementto the catalogue, a written notice from the auctioneersor an oral announcement at the auction.

Agreed completion dateSubject to condition G9.3:(a) the date specified in the special conditions; or(b) if no date is specified, 20 business days after thecontract date; but if that date is not a business day thefirst subsequent business day.

Approved financial institutionAny bank or building society that has signed up to theBanking Code or Business Banking Code or is otherwiseacceptable to the auctioneers.

ArrearsArrears of rent and other sums due under the tenanciesand still outstanding on the actual completion date.

Arrears scheduleThe arrears schedule (if any) forming part of the specialconditions.

AuctionThe auction advertised in the catalogue.

Auction conduct conditionsThe conditions so headed, including any extra auctionconduct conditions.

Auctioneers The auctioneers at the auction.

Business dayAny day except (a) a Saturday or a Sunday; (b) a bankholiday in England and Wales; or (c) Good Friday orChristmas Day.

BuyerThe person who agrees to buy the lot or, if applicable,that person’s personal representatives: if two or more arejointly the buyer their obligations can be enforcedagainst them jointly or against each of them separately.

CatalogueThe catalogue to which the conditions refer includingany supplement to it.

CompletionUnless otherwise agreed between seller and buyer (ortheir conveyancers) the occasion when both seller andbuyer have complied with their obligations under thecontract and the balance of the price is unconditionallyreceived in the seller’s conveyancer’s client account.

ConditionOne of the auction conduct conditions or salesconditions. The contract by which the seller agrees tosell and the buyer agrees to buy the lot

ContractThe contract by which the seller agrees to sell and thebuyer agrees to buy the lot.

Contract dateThe date of the auction or, if the lot is not sold at theauction:(a) the date of the sale memorandum signed by boththe seller and buyer; or(b) if contracts are exchanged, the date of exchange. Ifexchange is not effected in person or by an irrevocableagreement to exchange made by telephone, fax orelectronic mail the date of exchange is the date on whichboth parts have been signed and posted or otherwiseplaced beyond normal retrieval.

DocumentsDocuments of title (including, if title is registered, theentries on the register and the title plan) and otherdocuments listed or referred to in the special conditionsrelating to the lot.

Financial chargeA charge to secure a loan or other financial indebtness(not including a rent charge).

General conditionsThat part of the sale conditions so headed, includingany extra general conditions.

Reproduced with the consent of the Royal Institution of Chartered Surveyors (RICS)

AUCTIONS

Interest rateIf not specified in the special conditions, 4% above thebase rate from time to time of Barclays Bank plc. (Theinterest rate will also apply to judgment debts, ifapplicable.)

LotEach separate property described in the catalogue or(as the case may be) the property that the seller hasagreed to sell and the buyer to buy (including chattels, ifany).

Old arrearsArrears due under any of the tenancies that are not“new tenancies” as defined by the Landlord and Tenant(Covenants) Act 1995.

ParticularsThe section of the catalogue that contains descriptionsof each lot (as varied by any addendum).

PractitionerAn insolvency practitioner for the purposes of theInsolvency Act 1986 (or, in relation to jurisdictionsoutside the United Kingdom, any similar official).

PriceThe price that the buyer agrees to pay for the lot.

Ready to completeReady, willing and able to complete: if completionwould enable the seller to discharge all financialcharges secured on the lot that have to be dischargedby completion, then those outstanding financial chargesdo not prevent the seller from being ready to complete.

Sale conditionsThe general conditions as varied by any specialconditions or addendum.

Sale memorandumThe form so headed (whether or not set out in thecatalogue) in which the terms of the contract for thesale of the lot are recorded.

SellerThe person selling the lot. If two or more are jointly theseller their obligations can be enforced against themjointly or against each of them separately.

Special conditionsThose of the sale conditions so headed that relate tothe lot.

TenanciesTenancies, leases, licenses to occupy and agreementsfor lease and any documents varying or supplemental tothem.

Tenancy scheduleThe tenancy schedule (if any) forming part of the specialconditions.

TransferTransfer includes a conveyance or assignment (and “totransfer” includes “to convey” or “to assign”).

TUPEThe Transfer of Undertakings (Protection of Employment)Regulations 2006.

VATValue Added Tax or other tax of a similar nature.

VAT optionAn option to tax.

We (and us and our)The auctioneers.

You (and your)Someone who has a copy of the catalogue or whoattends or bids at the auction, whether or not a buyer

A1 IntroductionA1.1 Words in bold blue type have special meanings,which are defined in the Glossary.A1.2 The catalogue is issued only on the basis that youaccept these auction conduct conditions. They governour relationship with you and cannot be disapplied orvaried by the sale conditions (even by a conditionpurporting to replace the whole of the Common AuctionConditions). They can be varied only if we agree.

A2 Our roleA2.1 As agents for each seller we have authority to:(a) prepare the catalogue from information supplied byor on behalf of each seller;(b) offer each lot for sale;(c) sell each lot;(d) receive and hold deposits;(e) sign each sale memorandum; and(f) treat a contract as repudiated if the buyer fails to signa sale memorandum or pay a deposit as required bythese auction conduct conditions.A2.2 Our decision on the conduct of the auction is final.A2.3 We may cancel the auction, or alter the order inwhich lots are offered for sale. We may also combine ordivide lots. A lot may be sold or withdrawn from saleprior to the auction.A2.4 You acknowledge that to the extent permitted bylaw we owe you no duty of care and you have no claimagainst us for any loss.

A3 Bidding and reserve pricesA3.1 All bids are to be made in pounds sterling exclusiveof any applicable VAT.A3.2 We may refuse to accept a bid. We do not have toexplain why.A3.3 If there is a dispute over bidding we are entitled toresolve it, and our decision is final.A3.4 Unless stated otherwise each lot is subject to areserve price (which may be fixed just before the lot isoffered for sale). If no bid equals or exceeds that reserveprice the lot will be withdrawn from the auction.A3.5 Where there is a reserve price the seller may bid (or

ask us or another agent to bid on the seller’s behalf) upto the reserve price but may not make a bid equal to orexceeding the reserve price. Youaccept that it is possible that all bids up to the reserveprice are bids made by or on behalf of the seller.A3.6 Where a guide price (or range of prices) is giventhat guide is the minimum price at which, or range ofprices within which, the seller might be prepared to sellat the date of the guide price. But guide prices maychange. The last published guide price will normally beat or above any reserve price, but not always as theseller may fix the final reserve price just before biddingcommences.

A4 The particulars and other informationA4.1 We have taken reasonable care to prepareparticulars that correctly describe each lot. Theparticulars are based on information supplied by or onbehalf of the seller. You need to check that theinformation in the particulars is correct.A4.2 If the special conditions do not contain adescription of the lot, or simply refer to the relevant lotnumber, you take the risk that the description containedin the particulars is incomplete or inaccurate, asthe particulars have not been prepared by aconveyancer and are not intended to form part of a legalcontract.A4.3 The particulars and the sale conditions maychange prior to the auction and it is your responsibilityto check that you have the correct versions.A4.4 If we provide information, or a copy of a document,provided by others we do so only on the basis that weare not responsible for the accuracy of that informationor document.

A5 The contractA5.1 A successful bid is one we accept as such(normally on the fall of the hammer). This condition A5applies to you if you make the successful bid for a lot.A5.2 You are obliged to buy the lot on the terms of thesale memorandum at the price you bid plus VAT (ifapplicable).A5.3 You must before leaving the auction:(a) provide all information we reasonably need from youto enable us to complete the sale memorandum(including proof of your identity if required by us);(b) sign the completed sale memorandum; and(c) pay the deposit.A5.4 If you do not we may either:(a) as agent for the seller treat that failure as yourrepudiation of the contract and offer the lot for saleagain: the seller may then have a claim against you forbreach of contract; or(b) sign the sale memorandum on your behalf.A5.5 The deposit:(a) is to be held as stakeholder where VAT would bechargeable on the deposit were it to be held as agent for

AUCTIONS

the seller, but otherwise is to be held as stated in thesale conditions; and(b) must be paid in pounds sterling by cheque or bybankers’ draft made payable to us on an approvedfinancial institution. The extra auction conductconditions may state if we accept any other form ofpayment.A5.6 We may retain the sale memorandum signed by oron behalf of the seller until the deposit has beenreceived in cleared funds.A5.7 If the buyer does not comply with its obligationsunder the contract then:(a) you are personally liable to buy the lot even if you areacting as an agent; and(b) you must indemnify the seller in respect of any lossthe seller incurs as a result of the buyer’s default.A5.8 Where the buyer is a company you warrant that thebuyer is properly constituted and able to buy the lot.

A6 Extra Auction Conduct ConditionsA6.1 Despite any special condition to the contrary theminimum deposit we accept is ten percent (10%) of thetotal price or £2,000, which ever is the greater. A specialcondition may, however, require a higher minimumdeposit.

Words in bold blue type have special meanings,which are defined in the Glossary.The general conditions (including any extra generalconditions) apply to the contract except to the extentthat they are varied by special conditions or by anaddendum.

G1. The lotG1.1 The lot (including any rights to be granted orreserved, and any exclusions from it) is described in thespecial conditions, or if not so described the lot is thatreferred to in the sale memorandum.G1.2 The lot is sold subject to any tenancies disclosedby the special conditions, but otherwise with vacantpossession on completion.G1.3 The lot is sold subject to all matters contained orreferred to in the documents, but excluding anyfinancial charges: these the seller must discharge on orbefore completion.G1.4 The lot is also sold subject to such of the followingas may affect it, whether they arise before or after thecontract date and whether or not they are disclosed bythe seller or are apparent from inspection of the lot orfrom the documents:(a) matters registered or capable of registration as localland charges;(b) matters registered or capable of registration by anycompetent authority or under the provisions of anystatute;(c) notices, orders, demands, proposals andrequirements of any competent authority;(d) charges, notices, orders, restrictions, agreements andother matters relating to town and country planning,highways or public health;(e) rights, easements, quasi-easements, and wayleaves;(f) outgoings and other liabilities;(g) any interest which overrides, within the meaning ofthe Land Registration Act 2002;(h) matters that ought to be disclosed by the searchesand enquiries a prudent buyer would make, whether ornot the buyer has made them; and(i) anything the seller does not and could not reasonablyknow about.

G1.5 Where anything subject to which the lot is soldwould expose the seller to liability the buyer is tocomply with it and indemnify the seller against thatliability.G1.6 The seller must notify the buyer of any notices,orders, demands, proposals and requirements of anycompetent authority of which it learns after the contractdate but the buyer must comply with them and keep theseller indemnified.G1.7 The lot does not include any tenant’s or tradefixtures or fittings.G1.8 Where chattels are included in the lot the buyertakes them as they are at completion and the seller isnot liable if they are not fit for use.G1.9 The buyer buys with full knowledge of:(a) the documents, whether or not the buyer has readthem; and(b) the physical condition of the lot and what couldreasonably be discovered on inspection of it, whether ornot the buyer has inspected it.G1.10 The buyer is not to rely on the informationcontained in the particulars but may rely on the seller’sconveyancer’s written replies to preliminary enquiries tothe extent stated in those replies.

G2. DepositG2.1 The amount of the deposit is the greater of:(a) any minimum deposit stated in the auction conductconditions (or the total price, if this is less than thatminimum); and(b) 10% of the price (exclusive of any VAT on the price).G2.2 The deposit(a) must be paid in pounds sterling by cheque orbanker’s draft drawn on an approved financialinstitution (or by any other means of payment that theauctioneers may accept); and(b) is to be held as stakeholder unless the auctionconduct conditions provide that it is to be held as agentfor the seller.G2.3 Where the auctioneers hold the deposit asstakeholder they are authorized to release it (and intereston it if applicable) to the seller on completion or, ifcompletion does not take place, to the person entitledto it under the sale conditions.G2.4 If a cheque for all or part of the deposit is notcleared on first presentation the seller may treat thecontract as at an end and bring a claim against thebuyer for breach of contract.G2.5 Interest earned on the deposit belongs to the sellerunless the sale conditions provide otherwise.

G3. Between contract and completionG3.1 Unless the special conditions state otherwise, theseller is to insure the lot from and including the contractdate to completion and:(a) produce to the buyer on request all relevantinsurance details;

(b) pay the premiums when due;(c) if the buyer so requests, and pays any additionalpremium, use reasonable endeavors to increase the suminsured or make other changes to the policy;(d) at the request of the buyer use reasonable endeavorsto have the buyer’s interest noted on the policy if it doesnot cover a contracting purchaser;(e) unless otherwise agreed, cancel the insurance atcompletion, apply for a refund of premium and (subjectto the rights of any tenant or other third party) pay thatrefund to the buyer; and(f) (subject to the rights of any tenant or other third party)hold on trust for the buyer any insurance payments thatthe seller receives in respect of loss or damage arisingafter the contract date or assign to the buyer thebenefit of any claim; and the buyer must on completionreimburse to the seller the cost of that insurance (to theextent not already paid by the buyer or a tenant or otherthird party) for the period from and including thecontract date to completion.G3.2 No damage to or destruction of the lot nor anydeterioration in its condition, however caused, entitlesthe buyer to any reduction in price, or to delaycompletion, or to refuse to complete.G3.3 Section 47 of the Law of Property Act 1925 doesnot apply.G3.4 Unless the buyer is already lawfully in occupationof the lot the buyer has no right to enter into occupationprior to completion.

G4. Title and identityG4.1 Unless condition G4.2 applies, the buyer acceptsthe title of the seller to the lot as at the contract dateand may raise no requisition or objection except inrelation to any matter that occurs after the contractdate.G4.2 If any of the documents is not made availablebefore the auction the following provisions apply:(a) The buyer may raise no requisition on or objection toany of the documents that is made available before theauction.(b) If the lot is registered land the seller is to give to thebuyer within five business days of the contract date anofficial copy of the entries on the register and title planand, where noted on the register, of all documentssubject to which the lot is being sold(c) If the lot is not registered land the seller is to give tothe buyer within five business days an abstract orepitome of title starting from the root of title mentioned inthe special conditions (or, if none is mentioned, a goodroot of title more than fifteen years old) and mustproduce to the buyer the original or an examined copyof every relevant document.(d) If title is in the course of registration, title is to consistof certified copies of:(i) the application for registration of title made to the landregistry;(ii) the documents accompanying that application;

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(iii) evidence that all applicable stamp duty land taxrelating to that application has been paid; and(iv) a letter under which the seller or its conveyanceragrees to use all reasonable endeavors to answer anyrequisitions raised by the land registry and to instruct theland registry to send the completed registrationdocuments to the buyer.(e) The buyer has no right to object to or makerequisitions on any title information more than sevenbusiness days after that information has been given tothe buyer.G4.3 Unless otherwise stated in the special conditionsthe seller sells with full title guarantee except that (andthe transfer shall so provide):(a) the covenant set out in section 3 of the Law ofProperty (Miscellaneous Provisions) Act 1994 shall notextend to matters recorded in registers open to publicinspection; these are to be treated as within the actualknowledge of the buyer; and(b) the covenant set out in section 4 of the Law ofProperty (Miscellaneous Provisions) Act 1994 shall notextend to any condition or tenant’s obligation relating tothe state or condition of the lot where the lot isleasehold property.G4.4 The transfer is to have effect as if expresslysubject to all matters subject to which the lot is soldunder the contract.G4.5 The seller does not have to produce, nor may thebuyer object to or make a requisition in relation to, anyprior or superior title even if it is referred to in thedocuments.G4.6 The seller (and, if relevant, the buyer) mustproduce to each other such confirmation of, or evidenceof, their identity and that of their mortgagees andattorneys (if any) as is necessary for the other to be ableto comply with applicable Land Registry Rules whenmaking application for registration of the transaction towhich the conditions apply.

G5. TransferG5.1 Unless a form of transfer is prescribed by thespecial conditions:(a) the buyer must supply a draft transfer to the seller atleast ten business days before the agreed completiondate and the engrossment (signed as a deed by thebuyer if condition G5.2 applies) five business daysbefore that date or (if later) two business days after thedraft has been approved by the seller; and(b) the seller must approve or revise the draft transferwithin five business days of receiving it from the buyer.G5.2 If the seller remains liable in any respect in relationto the lot (or a tenancy) following completion the buyeris specifically to covenant in the transfer to indemnifythe seller against that liability.G5.3 The seller cannot be required to transfer the lot toanyone other than the buyer, or by more than onetransfer.

G6. CompletionG6.1 Completion is to take place at the offices of theseller’s conveyancer, or where the seller mayreasonably require, on the agreed completion date. Theseller can only be required to complete on a businessday and between the hours of 0930 and 1700.G6.2 The amount payable on completion is the balanceof the price adjusted to take account of apportionmentsplus (if applicable) VAT and interest.G6.3 Payment is to be made in pounds sterling and onlyby:(a) direct transfer to the seller’s conveyancer’s clientaccount; and(b) the release of any deposit held by a stakeholder.G6.4 Unless the seller and the buyer otherwise agree,completion cannot take place until both have compliedwith their obligations under the contract and thebalance of the price is unconditionally received in theseller’s conveyancer’s client account.G6.5 If completion takes place after 1400 hours for areason other than the seller’s default it is to be treated,for the purposes of apportionment and calculatinginterest, as if it had taken place on the next businessday.G6.6 Where applicable the contract remains in forcefollowing completion.

G7. Notice to completeG7.1 The seller or the buyer may on or after the agreedcompletion date but before completion give the othernotice to complete within ten business days (excludingthe date on which the notice is given) making time of theessence.G7.2 The person giving the notice must be ready tocomplete.G7.3 If the buyer fails to comply with a notice tocomplete the seller may, without affecting any otherremedy the seller has:(a) terminate the contract;(b) claim the deposit and any interest on it if held by astakeholder;(c) forfeit the deposit and any interest on it;(d) resell the lot; and(e) claim damages from the buyer.G7.4 If the seller fails to comply with a notice tocomplete the buyer may, without affecting any otherremedy the buyer has:(a) terminate the contract; and(b) recover the deposit and any interest on it from theseller or, if applicable, a stakeholder.

G8. If the contract is brought to an endIf the contract is lawfully brought to an end:(a) the buyer must return all papers to the seller andappoints the seller its agent to cancel any registration ofthe contract; and(b) the seller must return the deposit and any interest on

it to the buyer (and the buyer may claim it from thestakeholder, if applicable) unless the seller is entitled toforfeit the deposit under condition G7.3.

G9. Landlord’s licenseG9.1 Where the lot is or includes leasehold land andlicense to assign is required this condition G9 applies.G9.2 The contract is conditional on that license beingobtained, by way of formal license if that is what thelandlord lawfully requires.G9.3 The agreed completion date is not to be earlierthan the date five business days after the seller hasgiven notice to the buyer that license has been obtained.G9.4 The seller must:(a) use all reasonable endeavors to obtain the license atthe seller’s expense; and(b) enter into any authorized guarantee agreementproperly required.G9.5 The buyer must:(a) promptly provide references and other relevantinformation; and(b) comply with the landlord’s lawful requirements.G9.6 If within three months of the contract date (or suchlonger period as the seller and buyer agree) the licensehas not been obtained the seller or the buyer may (if notthen in breach of any obligation under this condition G9)by notice to the other terminate the contract at any timebefore license is obtained. That termination is withoutprejudice to the claims of either seller or buyer forbreach of this condition G9.

G10. Interest and apportionmentsG10.1 If the actual completion date is after the agreedcompletion date for any reason other than the seller’sdefault the buyer must pay interest at the interest rateon the price (less any deposit paid) from the agreedcompletion date up to and including the actualcompletion date.G10.2 Subject to condition G11 the seller is not obligedto apportion or account for any sum at completionunless the seller has received that sum in cleared funds.The seller must pay to the buyer after completion anysum to which the buyer is entitled that the sellersubsequently receives in cleared funds.G10.3 Income and outgoings are to be apportioned atactual completion date unless:(a) the buyer is liable to pay interest; and(b) the seller has given notice to the buyer at any timeup to completion requiring apportionment on the datefrom which interest becomes payable by the buyer; inwhich event income and outgoings are to beapportioned on the date from which interest becomespayable by the buyer.G10.4 Apportionments are to be calculated on the basisthat:(a) the seller receives income and is liable for outgoingsfor the whole of the day on which apportionment is to bemade;

(b) annual income and expenditure accrues at an equaldaily rate assuming 365 days in a year, and income andexpenditure relating to some other period accrues at anequal daily rate during the period towhich it relates; and(c) where the amount to be apportioned is not known atcompletion apportionment is to be made by referenceto a reasonable estimate and further payment is to bemade by seller or buyer as appropriatewithin five business days of the date when the amountis known.

G11. Arrears Part 1 Current rentG11.1 “Current rent” means, in respect of each of thetenancies subject to which the lot is sold, theinstallment of rent and other sums payable by the tenantin advance on the most recent rent payment date on orwithin four months preceding completion.G11.2 If on completion there are any arrears of currentrent the buyer must pay them, whether or not details ofthose arrears are given in the special conditions.G11.3 Parts 2 and 3 of this condition G11 do not applyto arrears of current rent.Part 2 Buyer to pay for arrearsG11.4 Part 2 of this condition G11 applies where thespecial conditions give details of arrears.G11.5 The buyer is on completion to pay, in addition toany other money then due, an amount equal to allarrears of which details are set out in the specialconditions.G11.6 If those arrears are not old arrears the seller isto assign to the buyer all rights that the seller has torecover those arrears.Part 3 Buyer not to pay for arrearsG11.7 Part 3 of this condition G11 applies where thespecial conditions:(a) so state; or(b) give no details of any arrears.G11.8 While any arrears due to the seller remain unpaidthe buyer must:(a) try to collect them in the ordinary course ofmanagement but need not take legal proceedings orforfeitthe tenancy;(b) pay them to the seller within five business days ofreceipt in cleared funds (plus interest at the interest ratecalculated on a daily basis for each subsequent day’sdelay in payment);(c) on request, at the cost of the seller, assign to theseller or as the seller may direct the right to demandand sue for old arrears, such assignment to be in suchform as the seller’s conveyancer mayreasonably require;(d) if reasonably required, allow the seller’s conveyancerto have on loan the counterpart of any tenancy againstan undertaking to hold it to the buyer’s order;(e) not without the consent of the seller release anytenant or surety from liability to pay arrears or accepta

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surrender of or forfeit any tenancy under which arrearsare due; and(f) if the buyer disposes of the lot prior to recovery of allarrears obtain from the buyer’s successor in title acovenant in favor of the seller in similar form to part 3 ofthis condition G11.G11.9 Where the seller has the right to recover arrearsit must not without the buyer’s written consent bringinsolvency proceedings against a tenant or seek theremoval of goods from the lot.

G12. ManagementG12.1 This condition G12 applies where the lot is soldsubject to tenancies.G12.2 The seller is to manage the lot in accordance withits standard management policies pending completion.G12.3 The seller must consult the buyer on allmanagement issues that would affect the buyer aftercompletion (such as, but not limited to, an applicationfor license; a rent review; a variation, surrender,agreement to surrender or proposed forfeiture of atenancy; or a new tenancy or agreement to grant a newtenancy) and:(a) the seller must comply with the buyer’s reasonablerequirements unless to do so would (but for theindemnity in paragraph (c)) expose the seller to a liabilitythat the seller would not otherwise have, in which casethe seller may act reasonably in such a way as to avoidthat liability;(b) if the seller gives the buyer notice of the seller’sintended act and the buyer does not object within fivebusiness days giving reasons for the objection theseller may act as the seller intends; and(c) the buyer is to indemnify the seller against all loss orliability the seller incurs through acting as the buyerrequires, or by reason of delay caused by the buyer.

G13. Rent depositsG13.1 This condition G13 applies where the seller isholding or otherwise entitled to money by way of rentdeposit in respect of a tenancy. In this condition G13“rent deposit deed” means the deed or other documentunder which the rent deposit is held.G13.2 If the rent deposit is not assignable the sellermust on completion hold the rent deposit on trust forthe buyer and, subject to the terms of the rent depositdeed, comply at the cost of the buyer with the buyer’slawful instructions.G13.3 Otherwise the seller must on completion pay andassign its interest in the rent deposit to the buyer underan assignment in which the buyer covenants with theseller to:(a) observe and perform the seller’s covenants andconditions in the rent deposit deed and indemnify theseller in respect of any breach;(b) give notice of assignment to the tenant; and(c) give such direct covenant to the tenant as may berequired by the rent deposit deed.

G14. VATG14.1 Where a sale condition requires money to bepaid or other consideration to be given, the payer mustalso pay any VAT that is chargeable on that money orconsideration, but only if given a valid VAT invoice.G14.2 Where the special conditions state that no VAToption has been made the seller confirms that none hasbeen made by it or by any company in the same VATgroup nor will be prior to completion.

G15. Transfer as a going concernG15.1 Where the special conditions so state:(a) the seller and the buyer intend, and will take allpracticable steps (short of an appeal) to procure, that thesale is treated as a transfer of a going concern; and(b) this condition G15 applies.G15.2 The seller confirms that the seller(a) is registered for VAT, either in the seller’s name or asa member of the same VAT group; and(b) has (unless the sale is a standard-rated supply) madein relation to the lot a VAT option that remains valid andwill not be revoked before completion.G15.3 The buyer confirms that:(a) it is registered for VAT, either in the buyer’s name oras a member of a VAT group;(b) it has made, or will make before completion, a VAToption in relation to the lot and will not revoke it beforeor within three months after completion;(c) article 5(2B) of the Value Added Tax (SpecialProvisions) Order 1995 does not apply to it; and(d) it is not buying the lot as a nominee for anotherperson.G15.4 The buyer is to give to the seller as early aspossible before the agreed completion date evidence:(a) of the buyer’s VAT registration;(b) that the buyer has made a VAT option; and(c) that the VAT option has been notified in writing to HMRevenue and Customs;and if it does not produce the relevant evidence at leasttwo business days before the agreed completion date,condition G14.1 applies at completion.G15.5 The buyer confirms that after completion thebuyer intends to:(a) retain and manage the lot for the buyer’s own benefitas a continuing business as a going concern subject toand with the benefit of the tenancies; and(b) collect the rents payable under the tenancies andcharge VAT on themG15.6 If, after completion, it is found that the sale of thelot is not a transfer of a going concern then:(a) the seller’s conveyancer is to notify the buyer’sconveyancer of that finding and provide a VAT invoice inrespect of the sale of the lot;(b) the buyer must within five business days of receiptof the VAT invoice pay to the seller the VAT due; and(c) if VAT is payable because the buyer has not compliedwith this condition G15, the buyer must pay and

indemnify the seller against all costs, interest, penaltiesor surcharges that the seller incurs as a result.

G16. Capital allowancesG16.1 This condition G16 applies where the specialconditions state that there are capital allowancesavailable in respect of the lot.G16.2 The seller is promptly to supply to the buyer allinformation reasonably required by the buyer inconnection with the buyer’s claim for capital allowances.G16.3 The value to be attributed to those items on whichcapital allowances may be claimed is set out in thespecial conditions.G16.4 The seller and buyer agree:(a) to make an election on completion under Section198 of the Capital Allowances Act 2001 to give effect tothis condition G16; and(b) to submit the value specified in the specialconditions to HM Revenue and Customs for thepurposes of their respective capital allowancecomputations.

G17. Maintenance agreementsG17.1 The seller agrees to use reasonable endeavors totransfer to the buyer, at the buyer’s cost, the benefit ofthe maintenance agreements specified in the specialconditions.G17.2 The buyer must assume, and indemnify the sellerin respect of, all liability under such contracts from theactual completion date.

G18. Landlord and Tenant Act 1987G18.1 This condition G18 applies where the sale is arelevant disposal for the purposes of part I of theLandlord and Tenant Act 1987.G18.2 The seller warrants that the seller has compliedwith sections 5B and 7 of that Act and that the requisitemajority of qualifying tenants has not accepted the offer.

G19. Sale by practitionerG19.1 This condition G19 applies where the sale is by apractitioner either as seller or as agent of the seller.G19.2 The practitioner has been duly appointed and isempowered to sell the lot.G19.3 Neither the practitioner nor the firm or anymember of the firm to which the practitioner belongshas any personal liability in connection with the sale orthe performance of the seller’s obligations. The transferis to include a declaration excluding that personalliability.G19.4 The lot is sold:(a) in its condition at completion;(b) for such title as the seller may have; and(c) with no title guarantee; and the buyer has no right toterminate the contract or any other remedy if informationprovided about the lot is inaccurate, incomplete ormissing.

G19.5 Where relevant:(a) the documents must include certified copies of thoseunder which the practitioner is appointed, thedocument of appointment and the practitioner’sacceptance of appointment; and(b) the seller may require the transfer to be by thelender exercising its power of sale under the Law ofProperty Act 1925.G19.6 The buyer understands this condition G19 andagrees that it is fair in the circumstances of a sale by apractitioner.

G20. TUPEG20.1 If the special conditions state “There are noemployees to which TUPE applies”, this is a warranty bythe seller to this effect.G20.2 If the special conditions do not state “There areno employees to which TUPE applies” the followingparagraphs apply:(a) The seller must notify the buyer of those employeeswhose contracts of employment will transfer to thebuyer on completion (the “Transferring Employees”).This notification must be given to the buyer not less than14 days before completion.(b) The buyer confirms that it will comply with itsobligations under TUPE and any special conditions inrespect of the Transferring Employees.(c) The buyer and the seller acknowledge that pursuantand subject to TUPE, the contracts of employmentbetween the Transferring Employees and the seller willtransfer to the buyer on completion.(d) The buyer is to keep the seller indemnified against allliability for the Transferring Employees after completion.

G21. EnvironmentalG21.1 This condition G21 only applies where thespecial conditions so provide.G21.2 The seller has made available such reports as theseller has as to the environmental condition of the lotand has given the buyer the opportunity to carry outinvestigations (whether or not the buyer hasread those reports or carried out any investigation) andthe buyer admits that the price takes into account theenvironmental condition of the lot.G21.3 The buyer agrees to indemnify the seller inrespect of all liability for or resulting from theenvironmental condition of the lot.

G22. Service ChargeG22.1 This condition G22 applies where the lot is soldsubject to tenancies that include service chargeprovisions.G22.2 No apportionment is to be made at completion inrespect of service charges.G22.3 Within two months after completion the sellermust provide to the buyer a detailed service chargeaccount for the service charge year current on

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completion showing:(a) service charge expenditure attributable to eachtenancy;(b) payments on account of service charge received fromeach tenant;(c) any amounts due from a tenant that have not beenreceived;(d) any service charge expenditure that is not attributableto any tenancy and is for that reason irrecoverable.G22.4 In respect of each tenancy, if the service chargeaccount shows that:(a) payments on account (whether received or still thendue from a tenant) exceed attributable service chargeexpenditure, the seller must pay to the buyer an amountequal to the excess when it provides the service chargeaccount;(b) attributable service charge expenditure exceedspayments on account (whether those payments havebeen received or are still then due), the buyer must useall reasonable endeavors to recover the shortfall from thetenant at the next service charge reconciliation date andpay the amount so recovered to the seller within fivebusiness days of receipt in cleared funds; but in respectof payments on account that are still due from a tenantcondition G11 (arrears) applies.G22.5 In respect of service charge expenditure that isnot attributable to any tenancy the seller must pay theexpenditure incurred in respect of the period beforeactual completion date and the buyer must pay theexpenditure incurred in respect of the period after actualcompletion date. Any necessary monetary adjustmentis to be made within five business days of the sellerproviding the service charge account to the buyer.G22.6 If the seller holds any reserve or sinking fund onaccount of future service charge expenditure or adepreciation fund:(a) the seller must pay it (including any interest earnedon it) to the buyer on completion; and(b) the buyer must covenant with the seller to hold it inaccordance with the terms of the tenancies and toindemnify the seller if it does not do so.

G23. Rent reviewsG23.1 This condition G23 applies where the lot is soldsubject to a tenancy under which a rent review due onor before the actual completion date has not beenagreed or determined.G23.2 The seller may continue negotiations or rentreview proceedings up to the actual completion datebut may not agree the level of the revised rent orcommence rent review proceedings without the writtenconsent of the buyer, such consent not to beunreasonably withheld or delayed.G23.3 Following completion the buyer must completerent review negotiations or proceedings as soon asreasonably practicable but may not agree the level of therevised rent without the written consent of the seller,

such consent not to be unreasonably withheld ordelayed.G23.4 The seller must promptly:(a) give to the buyer full details of all rent reviewnegotiations and proceedings, including copies of allcorrespondence and other papers; and(b) use all reasonable endeavors to substitute the buyerfor the seller in any rent review proceedings.G23.5 The seller and the buyer are to keep each otherinformed of the progress of the rent review and haveregard to any proposals the other makes in relation to it.G23.6 When the rent review has been agreed ordetermined the buyer must account to the seller for anyincreased rent seller’s period of ownership within fivebusiness days of receipt of cleared funds.G23.7 If a rent review is agreed or determined beforecompletion but the increased rent and any interestrecoverable from the tenant has not been received bycompletion the increased rent and any interestrecoverable is to be treated as arrears.G23.8 The seller and the buyer are to bear their owncosts in relation to rent review negotiations andproceedings.

G24. Tenancy renewals G24.1 This condition G24 applies where the tenantunder a tenancy has the right to remain in occupationunder part II of the Landlord and Tenant Act 1954 (asamended) and references to notices and proceedings areto notices and proceedings under that Act.G24.2 Where practicable, without exposing the seller toliability or penalty, the seller must not without the writtenconsent of the buyer (which the buyer must notunreasonably withhold or delay) serve orrespond to any notice or begin or continue anyproceedings.G24.3 If the seller receives a notice the seller must senda copy to the buyer within five business days and actas the buyer reasonably directs in relation to it.G24.4 Following completion the buyer must:(a) with the co-operation of the seller take immediatesteps to substitute itself as a party to any proceedings;(b) use all reasonable endeavors to conclude anyproceedings or negotiations for the renewal of thetenancy and the determination of any interim rent assoon as reasonably practicable at the best rent or rentsreasonably obtainable; and(c) if any increased rent is recovered from the tenant(whether as interim rent or under the renewed tenancy)account to the seller for the part of that increase thatrelates to the seller’s period of ownership of the lotwithin five business days of receipt of cleared funds.G24.5 The seller and the buyer are to bear their owncosts in relation to the renewal of the tenancy and anyproceedings relating to this.

G25. WarrantiesG25.1 Available warranties are listed in the specialconditions.G25.2 Where a warranty is assignable the seller must:(a) on completion assign it to the buyer and give noticeof assignment to the person who gave the warranty; and(b) apply for (and the seller and the buyer must use allreasonable endeavors to obtain) any consent to assignthat is required. If consent has not been obtained bycompletion the warranty must be assigned within fivebusiness days after the consent has been obtained.G25.3 If a warranty is not assignable the seller mustafter completion:(a) hold the warranty on trust for the buyer; and(b) at the buyer’s cost comply with such of the lawfulinstructions of the buyer in relation to the warranty as donot place the seller in breach of its terms or expose theseller to any liability or penalty.

G26. No assignment The buyer must not assign,mortgage or otherwise transfer or part with the whole orany part of the buyer’s interest under this contract.

G27. Registration at the Land RegistryG27.1 This condition G27.1 applies where the lot isleasehold and its sale either triggers first registration or isa registrable disposition. The buyer must at its ownexpense and as soon as practicable:(a) procure that it becomes registered at Land Registryas proprietor of the lot;(b) procure that all rights granted and reserved by thelease under which the lot is held are properly notedagainst the affected titles; and(c) provide the seller with an official copy of the registerrelating to such lease showing itself registered asproprietor.G27.2 This condition G27.2 applies where the lotcomprises part of a registered title. The buyer must at itsown expense and as soon as practicable:(a) apply for registration of the transfer;(b) provide the seller with an official copy and title planfor the buyer’s new title; and(c) join in any representations the seller may properlymake to Land Registry relating to the application.

G28. Notices and other communicationsG28.1 All communications, including notices, must be inwriting. Communication to or by the seller or the buyermay be given to or by their conveyancers.G28.2 A communication may be relied on if:(a) delivered by hand; or(b) made electronically and personally acknowledged(automatic acknowledgement does not count); or(c) there is proof that it was sent to the address of theperson to whom it is to be given (as specified in the salememorandum) by a postal service that offers normallyto deliver mail the next following business day.

G28.3 A communication is to be treated as received:(a) when delivered, if delivered by hand; or(b) when personally acknowledged, if madeelectronically; but if delivered or made after 1700 hourson a business day a communication is to be treated asreceived on the next business day.G28.4 A communication sent by a postal service thatoffers normally to deliver mail the next followingbusiness day will be treated as received on the secondbusiness day after it has been posted.

G29. Contracts (Rights of Third Parties) Act 1999 No one is intended to have any benefit under thecontract pursuant to the Contract (Rights of ThirdParties) Act 1999.

G30. Extra General ConditionsG30.1Sale by Private TreatyThe seller reserves the right to sell any part of the lot byprivate treaty before the auction.G30.2 Liability of the AuctioneersNeither the auctioneers, nor any of its parents,subsidiaries, affiliates, third party service providers,licensors, officers, directors or employees accept anyliability under or in relating to the conditions or the lot(whether such liability arises due to negligence, breachof contract, misrepresentation or for any other reason)for any loss of profits, loss of sales or turnover, loss ofbusiness, or any indirect, consequential or special lossor damage even if the auctioneers have been advised ofthe possibility of such loss.G30.3 Priority of ConditionsIf there is any conflict between the conditions, then anyextra conditions shall prevail over the general conditionsand any special conditions shall prevail over any extraconditions.

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Date

Name and address of seller

The Lot

The Price (excluding any VAT)

The seller agrees to sell and the buyer agrees to buy the lot for the price.This agreement is subject to the conditions so far as they apply to the lot.

We acknowledge receipt of the deposit

Signed by the buyer

The buyer’s conveyancer is

Practice Name

Address

Name and address of buyer

Deposit Paid

Signed by us as agent for the seller

Contact