Seel & Co

Bidding at Auction? Please read this

Notice to All Bidders

To be read by all bidders at auction

1. Attention is drawn to the general conditions of sale relating to all properties. All prospective purchasers are invited to obtain copies of any special conditions specified in relation to each lot. In addition to the deposit a buyer’s premium of £450 plus VAT will be payable.

2. All prospective purchasers shall be deemed to have inspected the property and made usual pre-contract enquiries and searches. Prospective bidders should check the addendum sheet available in the auction room for alterations and amendments. 

3. The successful bidder is under contract as soon as the auctioneers gavel falls on his or her bid.

4. On a property being knocked down, the bidder must immediately provide to the auctioneer’s clerk his/her full name and address, together with the name and address of the solicitor acting on his/her behalf to enable the Memorandum of Contract to be completed in the form, as printed in the auction catalogue. This must be signed by the bidder and exchanged with the auctioneer’s staff and vendor’s solicitor prior to leaving the room, accompanied by a minimum deposit 10% of the maximum bid or £2000 - whichever is the greater.

5. Details relating to each lot are set out as a general guideline only for the guidance of intending purchasers or lessees and do not constitute part of an offer or contact. All descriptions are given in good faith and believed correct, but any intending purchaser or tenant must satisfy themselves by inspecting or otherwise as to the correctness of each item.

6. The auctioneer has not tested any apparatus, equipment fittings or services and so cannot verify that they are in working order. The buyer is advised to obtain their own verification.

7. Photographs and any plans published are for convenience of prospective purchasers only and do not form part of any contract. Any sizes quoted are all approximate and for guidance only and do not form part of any contract. All properties are offered with vacant possession unless otherwise stated. 

8. No person in the employment of the auctioneer has any authority to make or give any representation or warranty whatever in relation to any property listed in the auction catalogue. 

9. In the event of there being any addendum to the particulars of sale or the General and Special Conditions of sale, a copy of the addendum will be attached to the Memorandum of Contract and shall be signed by the purchaser and such addendum shall be deemed to form part of the sales particulars and conditions of sale and if in conflict, shall prevail. 

10. Inspection of investment properties is by courtesy of the tenants. Inspection of properties with vacant possession is by arrangement with the auctioneer or joint auctioneers as indicated in the auction catalogue. 

11. Prospective purchasers intending to bid at the auction for a specific lot are advised to consult with the auctioneer before the sale to enquire whether the particular lot will be offered at the auction. The vendor has the right to sell prior to auction or withdraw the lot and neither the auctioneer nor vendor is responsible for any abortive costs, losses or damages of a prospective purchaser. 

12. Guide prices quoted in the catalogue and online are provided as indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. The sale price will be dependent on bidding in the auction room and on the vendor’s instructions. 

13. Each property will be offered subject to a reserve price which will be set at no more than 10% above a single figure guide price or within a guide price range. This is a confidential figure set between the vendor and the auctioneer just prior to the auction. It is a figure below which the auctioneer cannot sell the property during the auction. After the auction offers will be sought and considered on unsold lots at prices below the reserves prices.