important auction information

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IMPORTANT NOTES FOR PROSPECTIVE PURCHASERS

Morgan Beddoe for themselves and the Vendors of the properties described herein, whose Agents Morgan Beddoe are, give notice...

1. The attention of the prospective purchasers is drawn to the General and Special Conditions of Sale relating to the properties which will not be read out at Auction. They will be available for inspection at the Auctioneers' Offices and the relevant Solicitors during usual working hours for 14 days prior to the auction. Copies of the legaI information are available from the various vendor's solicitors. However a charge will be made at the discretion of the vendor's solicitor and is payable before the copies are issued. Whether or not inspecting the same, the purchaser shall be deemed to purchase with full notice of the said General Conditions of Sale, Special Conditions of Sale and any other Deeds as aforesaid.
2. Prospective purchasers are strongly advised to consult their professional legal advisers and shall be deemed to have inspected the relevant property and made all the usual and necessary searches and enquiries with all relevant authorities and other bodies.
3. All dimensions and areas referred to in these particulars are believed to be correct and are approximate only. Prospective purchasers shall be deemed to have checked these particulars as to dimensions, areas and all other matters to which the properties are expressed to be subject to, or have the benefit of and in respect of any fixtures, or fittings, or contents expressed to be included in the sale by making inspection of the property and all necessary enquiries.
4. It is advised that, where appropriate, prospective purchasers should arrange a full Structural Survey of the relevant property by a professionally qualified person. No representation, or Warranty, whatsoever is made, or intended to be made in respect of the state of the structure of any property, or otherwise whatsoever in relation to the state of repair thereof.
5. All location plans and photographs published in the particulars of sale are to enable the prospective purchasers to locate the property only, and are not intended to depict the interest to be sold and are expressly excluded from any contract. Purchasers are advised to make appropriate enquiries of the vendors' solicitors as to the precise interest to be sold.
6. As soon as the Auctioneer's hammer falls on a bid the successful bidder is under binding contract to purchase the relevant property, subject to such General and Special Conditions as appropriate. The successful bidder must immediately present to the Auctioneer's clerk his name and address and, if appropriate, the name and address of the person, or company on whose behalf he has been bidding, and in default of such information being provided at once, the Auctioneer shall be entitled to resubmit the property for sale. The successful bidder must also then supply a deposit of 10% of the purchase price by way of cheque or banker's draft, made payable to the Vendor's solicitors.
7. In the case of there being an Addendum to the Conditions of Sale, the purchaser shall sign a copy of the Addendum which will be annexed to the Sale Contract and such Addendum shall be deemed to form part of the said Contract.
8. Prospective purchasers intending to bid at the Auction for a specific Lot are advised to consult the Auctioneers on the day preceding the sale to enquire whether the particular Lot will be offered at the Auction.
9. Unless otherwise notified the date of completion of a particular Lot, will be 28 days from the date of the Auction.

MONEY LAUNDERING REGULATIONS 2003

Successful Bidders will be required to provide the following proof of identity before they sign the contract for the purchase of the property.

1. A full valid passport and a photocopy of the page with the passport photograph. If a passport is not available then a new style driving licence with a photograph and a photocopy of both sides of the licence as well as the paper support documentation.
2. Recent official correspondence with a photocopy as proof of address. The photocopies will be retained on our file in accordance with the regulations. An identification form will also have to be completed.

NB CASH IS NO LONGER AN ACCEPTABLE FORM OF DEPOSIT

THE PROPERTY MISDESCRIPTIONS ACT 1991. The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose.

A Buyer is advised to obtain verification from their Solicitor or Surveyor.

Reference to the Tenure of a Property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitors.

VIEWINGS The set viewing times are shown individually on each lot.
Please note that there will be no viewings on Sale day.

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Auction Information

Set out below is a brief guide which will hopefully deal with any enquiries you may have about buying a property at auction and the procedures to follow. If you do have any other questions or wish to talk about any aspect of buying at the sale please ring us on 0117 946 7100.

Viewings. If you are interested in a particular property make arrangements to see it. (Some investment properties may not be available for internal viewing however.) Viewings are normally arranged in block viewing times. It is strongly advised that you should attend these viewing at the start time stated, as our representatives are unable to wait for late comers as they will be conducting a schedule of viewings for the whole day.

Price guides. All guide prices quoted are issued without responsibility and are indicative only of where the reserve may be set at the time of going to print, subject to the sellers' final instructions. Please note they are not valuations or an indication of the anticipated price. The sale price will be dependent on bidding in the room and seller's instructions. Please check with us for regular updates as guide prices are subject to change prior to the auction.

Pre-auction offers. Some vendors may accept an offer and exchange contracts before the auction. Any offers should be submitted in writing and be the purchasers best and final price. You must check that the property has not been sold prior and is still available as Morgan Beddoe will not be held responsible for any abortive costs as a result.

Legal advice should be sought. Buying at auction is a contractual commitment. In addition to studying the Important Notices to Prospective Buyers and the General Conditions of Sale, we will have available separate legal documents for each property, including the Special Conditions, which can be inspected on sale day at the auction venue or in our offices at Whiteladies Road. Alternatively you can get a copy from the solicitor who will normally charge for them. (see note 1 important notes for prospective purchasers above.)

Deposit. Arrange your deposit - a deposit cheque of 10% of the purchase price is required, made payable to the solicitor, once the hammer has fallen. Cash deposits are not acceptable.

Finance. Arrange your finance if required for the purchase - completion is usually due 28 days from the date of the sale.

On the day of the sale. Arrive in plenty of time to check if there are any late amendments. Read through the legal package if you have not already done so. An addendum sheet will be available showing any last minute changes. Your purchase will be subject to this.

Remember your cheque book, banker's draft or solicitor's client account cheque for the deposit. Please provide your solicitors details who will be acting on your behalf.

Please note that it is a requirement that you provide documentation to confirm your name and residential address.

Each property will be offered individually by the auctioneer who will invite you to bid for the property. Make sure you attract his attention if you intend to bid - a raised arm or catalogue is the most affective way. Once the hammer falls the property is sold.

When successful in buying your chosen property, a Morgan Beddoe representative will hand you a Purchaser's form and lead you to the buyers area to complete and sign the form. Afterwards you should come to the Contracts desk to complete the contracts and supply the deposit monies, together with your identification. You are then free to leave the sale with the signed Sellers Contract and pack to pass to your solicitor.

To request an auction brochure or to find out previous auction results phone the Morgan Beddoe Auction line 0906 9540007 (premium rate call 75p per min) or go to www.morgan-beddoe.co.uk.