The Fee payable by the buyer to the auctioneer. The buyer’s premium is non-refundable.
The contract by which the Seller agrees to sell and the buyer agrees to buy the lot.
5% of the sale price subject to a minimum of £5,000.00 which is to be paid to the Auctioneer and held by the Auctioneer as a stakeholder.
MEMORANDUM OF SALE
The short form of agreement signed by the Buyer and Seller where a sale is agreed other than at the auction. The memorandum of sale maybe signed by the Auctioneer on behalf of both the Seller and the Buyer.
The buyer is legally obliged to purchase the property with full legal completion taking place within 28 days of the Auction.
THIS IS A LEGAL DOCUMENT. YOU ARE STRONGLY ADVISED TO SEEK INDEPENDENT LEGAL ADVICE BEFORE SIGNING.
The auctioneer expects that you know the risks associated with the property transactions and that you have the requisite knowledge and understanding of the property market.
I understand that if my bid is successful, Connect UK Auctions will sign the memorandum of Sale on my behalf and that I will immediately have to pay the Deposit and the Buyer’s Premium. Thereafter, I understand that in and unconditional auction I will have to complete the purchase within 28 days (Special conditions may apply). I confirm that I have carried out my due diligence prior to signing this form and the Auctioneer will not be held responsible for any breach or the Seller not disclosing any information regarding the lot. I am fully satisfied that the Auctioneer has worked in good faith and I will not bring any legal proceedings / complaint against them in the event of any breach / conveyancing issues between me and the Seller whatsoever. I understand that it is solely my liability to check legal pack, planning permission or any other investigations related to the Lot prior to bidding and I will not hold the Auctioneer responsible for any failure inclusive of all liabilities whatsoever. I confirm that I have read and understood the Legal Pack and agree to any special conditions within the Legal Pack. Certified copies of my passport and utility bills are attached.
Please sign below to indicate your acceptance of these terms and conditions and that you have authority to sign on behalf of all buyers.
NB. All telephone conversations are recorded for training and monitoring purposes.