Notices to prospective buyers
These Notices are intended to assist you as
a prospective Buyer. Legal matters in the
UK can be complex and so the Notices, the
Common Auction Conditions printed towards
the back of this catalogue and any other
conditions, documents or matters affecting
the Lot you are interested in should be read
and considered carefully. Whilst the Sellers
of the Lots described in this catalogue have
used reasonable efforts to ensure that Lots are
correctly described, we strongly recommend
that you arrange for your professional advisors
to consider and advise you on all aspects of
your intended purchase.
1. Particulars of Sales
Measurements and areas referred to in
the catalogue particulars are approximate
only. It is your responsibility to check the
following matters in respect of each Lot
you are interested in before the Auction:
All measurements
Areas
The exact description and location of the
Lot
Details of any leases affecting the Lot
Whether any fixtures, fittings and contents
referred to in the catalogue particulars are
owned by the Seller
The current occupiers at and/or trading
from the Lot
The structural condition of the Lot and any
possible contamination or pollution of the
Lot
You are advised to check these matters
by:
Personally inspecting the Lot
Arranging to have the Lot professionally
surveyed
Arranging for an environmental survey to
be carried out in respect of the Lot
Making enquiries with the Auctioneers,
the Seller and the Seller’s professional
advisors
Making relevant searches and enquiries
with all appropriate authorities
2. Plans and Photographs
2.1 The plans and photographs shown
in the catalogue are included in order
to assist you in locating the Lot in
question. Similarly, any arrows on plans
or photographs are merely to assist you
in finding the Lot, not for the purpose of
indicating legal boundaries
2.2 The plans and photographs shown in the
catalogue do not form part of a contract of
sale relating to any of the Lots
2.3 Plans in the catalogue are reproduced
photographically and are not to scale so
the Auctioneers cannot guarantee that
they are accurate
2.4 The Auctioneers cannot guarantee:
That photographs show the current
occupier(s) of the Lot
That any occupiers are trading or are
actually in occupation of the relevant Lot
The state of repair and condition of the Lot
That any entities are shown in any street
trader plan are still trading or are still in
actual occupation of the Lot
2.5 Maps are Crown copyright; all rights
reserved; licence number 100020449; and
are for identification purposes only
3. Inspection and Vacant Possession
3.1 If you want to inspect the Lot before the
Auction, it may be possible to arrange
this with the Auctioneers on prior notice
and you should therefore contact them in
advance of the auction
3.2 Keys to Lots that are offered for sale
with vacant possession will normally be
made available to you on completion of
the sale. However, access to the Lot for
the purpose of inspection and/or carrying
out a survey might be available prior
to completion subject to obtaining the
Seller’s permission (you should approach
the Auctioneers about this)
3.3 You will be responsible for paying the cost
of any accompanied viewing of the Lot
prior to completion
4. Structure, Contamination and
Equipment
4.1 Neither the Auctioneers nor the Seller can
guarantee:
The structural condition of the Lot
The state or condition of any fixtures,
fittings or other items stated to be included
in the sale of the Lot
Whether or not the Lot or any fixtures,
fittings, or other equipment have been
properly or adequately constructed or are
suitable for their purpose
Whether or not there is any contamination
or pollution affecting the Lot or affecting
any other property in the neighbourhood
Whether or not the Lot complies with
any relevant legislation relating to the
environment, contamination, pollution or
dangerous substances
5. Conditions of Sale
5.1 If you are the successful Buyer of any
Lot, you will – from the moment the
Auctioneer’s gavel falls – become legally
bound by the Conditions of Sale in relation
to that Lot
5.2 It will be assumed that you have read and
considered the Conditions of sale and
any other relevant documents for the Lot
(s) you are interested in before the day of
the Auction, that you have shown them to
your professional advisors before bidding
5.3 The conditions of Sale consist of the
following:
These notices to prospective buyers
The Common Auction Conditions printed
towards the back of this catalogue or (in
the case of Scottish Lots) Articles of Roup
The Special Conditions of Sale for the
Lot (not printed in the catalogue but
obtainable from the Seller’s solicitors or
the Auctioneers)
Any addendum, or addenda relating to the
Lot
The Common Auction Conditions relate to
Lots situated in England and Wales and
contain the following sections:
Glossary – this gives special meaning to
certain words used in other parts of the
catalogue
Conduct of the Auction – these conditions
regulate the conduct of the Auction. If you
read the catalogue or attend the Auction,
you do so on the basis that you accept
them
General Conditions – these apply to
all Lots in England and Wales unless
otherwise stated
Extra Conditions – these are printed
towards the back of this catalogue and
also apply to all Lots in England and Wales
unless otherwise stated
5.4 An addendum will be available before
and will be distributed at the Auction.
This important document will detail any
corrections, amendments and/or additions
to the particulars and Conditions of Sale
for any of the Lots. It will be assumed that
you have read the Addendum before the
bidding.
5.5 Please note that some or all of the
Conditions of Sale relating to certain
Lots might be contained in a separate
catalogue or might be obtainable
separately from the Seller’s solicitors or
the Auctioneers
6. Liability of Bidder
6.1 If you bid at the Auction, you will be
personally liable in respect of any
accepted bid. This will be the case even
if you bid as agent or representative for
another agent
6.2 If you bid as agent or representative then
you and the person or organisation on
whose behalf you have bid will be jointly
and severally liable under the contract
of sale or (in the case of Scottish Lots)
minutes of enactment for the Lot
6.3 You (and your principal if you are bidding
as agent or representative) and, where
applicable, the nominee appointed by
qualifying tenants under the provisions of
the Landlord & Tenant Act 1987 and/or
the Housing Act 1996 will be jointly and
severally liable to pay the buyer’s charge
mentioned in the Auctioneer’s Pre-Sale
Announcements printed towards the front
of this catalogue
7. Order of Sale, Sales Prior to Auction
and Withdrawn Lots
7.1 Lots will be offered for sale at the Auction
in accordance with the Order of Sale
which will be distributed at the Auction.
It will provide details of all Lots that have
been sold prior to or withdrawn from sale
7.2 The Auctioneers have the right to sell Lots
or to withdraw Lots without giving reason
at any time before the sale begins
7.3 You should contact the Auctioneers before
the Auction to check whether any Lots
have been sold prior or withdrawn
7.4 Neither the Auctioneers nor the Seller will
have any responsibility towards you in
relation to any loss or wasted costs that
you may incur in respect of Lots sold
prior or withdrawn
8. Guide Prices and Reserves
8.1 The Auctioneers will publish a guide
price list when the catalogue is issued.
The guide price is also listed on the
website and other marketing material.
The guide price indicates the level of the
sellers reserve and minimum expectation
of the sale price.
8.2 The Auctioneers have not carried
out valuations for any of the Lots to
be offered for sale at the Auction.
Consequently, you must not treat the
published guide price for a Lot as
being a valuation of that Lot. Similarly,
you must not treat any estimate or
suggestion as to the price for which the
Lot might be sold or as to the price that
you might consider bidding for any Lot
as being a valuation of that Lot
8.3 Neither the Auctioneers nor the Seller
can accept any responsibility for any
loss, damage or cost that you might
incur as a result of relying on any guide,
estimate or suggestion as to price given
in respect of any Lot
8.4 You are strongly advised to consult your
own professional advisors regarding the
accuracy of the guide price and/or any
estimate or suggestion as to price given
by the Auctioneers in respect of any Lot
8.5 The guide price list is updated regularly
by the Auctioneers leading up to
the Auction. You should contact the
Auctioneers to find out whether any
alterations have been made to the guide
price(s) for the Lot(s) you are interested
in
8.6 The reserve price will be set by the seller
for the lot at any time up to the time that
the auction begins and may be subject
to change
8.7 The reserve price may be lower than the
guide price.
8.8 The majority of Lots will be offered for
sale subject to a reserve price. Any
exceptions will be announced on the day
of the Auction
9. Rents and Information Relating to
Tenants
9.1 Financial and other information given
in the catalogue particulars for any Lot
relating to tenants or other occupiers of
the Lot is obtained from the Companies
Registry (whose files are open to public
inspection and verification) or from
published reports and accounts of the
tenant or tenant’s holding company,
unless otherwise stated
9.2 The Auctioneers obtain this information
during compilation of the catalogue.
Some of the information shown in the
catalogue may be at least 2 years out of
date depending on when returns were
last filed at the
Companies Registry or on when the
tenant’s corporate accounts and report
were last published. In addition, the
circumstances of any tenants or other
occupiers of the Lot might have changed
since compilation of the catalogue, for
example as to ownership. There is no
guarantee therefore that the information
shown in the catalogue is accurate or up
to date as at the date of the Auction
9.3
It is your responsibility to check whether
or not the catalogue particulars are
accurate in relation to such matters
9.4 Estimates or suggestions given by the
Auctioneers as to current or future
rental values affecting any Lot or as to
the current or future open market rental
value of the whole or any part of the Lot
must not be treated as valuations buy
only as estimates. You must consult your
own professional advisors to establish
whether such estimates or suggestions
are accurate
10. Procedures on Sale of the Lot
10.1 If a Lot is ‘knocked down’ to you by the
Auctioneer, a legally binding contract
is immediately created. The terms of
the contract will be those set out in the
Conditions of Sale referred to above
10.2 After the Lot is knocked down to you,
you will be given a buyer’s slip which
you must complete with all required
information. You will be asked to
produce some form of identification such
as a driver’s license or passport
10.3 When completing the buyer’s slip, you
must specifically name the person or
organisation that is to be the Buyer of
the Lot. Lots cannot be transferred to
an unnamed buyer. References in the
Buyer’s slip to the Buyer’s ‘nominees’,
‘associates’ or similar terms are not
acceptable. Unless you obtain the
Seller’s prior consent, the Lot can only
be transferred to the Buyer named in the
Buyer’s slip and Sale Memorandum
10.4 If you do not complete the Buyer’s slip
or pay the deposit, the Auctioneers have
the right to re-offer the Lot for sale and
to treat you (and your principal if you are
bidding as agent or representative) as
being in breach of contract. Even if the
Lot is re-offered for sale, the Seller might
have a legal right of action against you
for the breach of contract
10.5 When you have completed the Buyer’s
slip and paid the deposit, you will be
given a card showing the number of the
Lot you have bought and the sale price.
It is imperative that you do not lose this
card
10.6 The Auctioneers will prepare the contract
of sale in duplicate. Before leaving the
Auction room, you must attend the
contracts desk situated in the Auction
room where you must produce the Lot
card referred to above and sign your
part of the contract. You will then be
given the duplicate copy of the contract,
signed on behalf of the Seller, in
exchange
10.7 Usually, the Lot will be at your risk from
the moment it is knocked down to you
by the Auctioneer which means that you
should immediately arrange for it to be
insured. If this is not the case, it should
be made clear in the Special Conditions
of Sale for the Lot. If you are in any
doubt, you should make enquires with
the Seller’s solicitor
11. Deposit
11.1 If a Lot is knocked down to you, you
must pay the deposit which is 10% of
the sale price subject to a minimum
of £4,000 (if the sale price is less
than £40,000). The amount of the
deposit might be altered by the Special
Conditions of Sale for the Lot so you
should check them carefully before the
Auction
11.2 The deposit must be given to the
Auctioneer’s clerk together with the
completed buyer’s slip and the buyers
charge
11.3 If you buy more than one Lot, you will need
to pay a separate deposit for each Lot
11.4 Banker’s drafts must be drawn on UK
sterling accounts only and on a bank or
branch of a bank in the UK, failing which,
cheques may be rejected
11.5 Cash deposits, credit cards and bank
transfers are not accepted in any
circumstances
11.6 Deposit cheques are accepted on the
basis that there are adequate cleared
funds in the account upon which the
cheque is drawn. The Seller may take
action against you if your cheque is not
honoured on first presentation. You are
therefore strongly advised to ensure that
there are adequate funds available in the
account to meet any deposit cheque(s)
that are drawn as a result of the Auction
11.7 All deposit cheques should be made
payable to Romans unless the Special
Conditions state otherwise
12. VAT
12.1 This note applies where VAT is payable
on the sale of the Lot and the deposit
is payable to the Auctioneers as agent
for the Seller. If you wish to treat the
transaction as the transfer of a going
concern as referred to in General
Condition 15 of the Common Auction
Conditions, you must notify the VAT
authorities before the date of the auction
12.2 For the avoidance of doubt, the above
note does not apply where the Lot is
sold subject to VAT but the deposit
is payable to the Auctioneers as
stakeholder
12.3
In certain circumstances, the provisions
of General Condition 15 of the Common
Auction Conditions do not apply in any
event, including where the transaction
is the grant of a new lease of the Lot to
the Buyer. You are strongly advised to
consult your own professional advisors
about this before the Auction
13. Buyer’s Charge
13.1 Each successful buyer will be required
to pay the auctioneers, Romans, a
non-refundable buyers charge of £950
plus VAT = £1,140. On purchases up to
£20,000, the buyers charge will be £550
plus VAT = £660. The fee is payable on
exchange of contracts.
