Prospective Purchasers wishing to bid by telephone or proxy please contact the auctioneers
Auctions North East (“the Auctioneers”) for themselves and for the vendors of the properties to be offered herein draw the attention of prospective purchasers to the following information:
1 All Lots are subject to the General Conditions of Sale as printed herein and the Special Conditions of Sale (if any) applicable to each particular Lot. If there is any conflict between the contents of the General Conditions of Sale and the Special Conditions of Sale and the contents of this Notice the Special Conditions of sale shall prevail. Details of the Special Conditions of Sale are available upon enquiry to the solicitors whose name appears against each individual Lot, or the Auctioneers offices one week prior to the sale date or will be available at the time and place of the Auction.
2 No representation or warranty is made in respect of the structure of any of the properties nor in relation to their state of repair. The Auctioneers advise that all prospective purchasers should arrange for a building survey of the property to be undertaken by a professionally qualified person.
3 Prospective purchasers are deemed to have inspected the properties before purchasing and to have made all necessary and appropriate searches and enquiries with all relevant authorities, the vendor and other bodies.
4 Prospective purchasers are asked to make inspection arrangements as indicated in the catalogue. The Auctioneers will make all reasonable endeavours to arrange access to the properties offered. Such access cannot, however, be guaranteed.
5 Whilst every care is taken in the preparation of this catalogue including descriptions, dimensions, location and other plans and photographs, such information is for identification purposes only and is expressly excluded from any contract of sale. Neither the Auctioneers nor any of their employees nor any person appointed by them can be held responsible for any inaccuracies including without limitation measurements, areas and sizes. All photographs and details were prepared at the date of inspection of the property and may not therefore reflect the current state of the property. All property descriptions must be checked against actual legal documentation available for each Lot. All Planning and Building Regulations and Rateable Value statements must be verified with the Local Authority.
6 The Auctioneers and the vendors’ solicitors reserve the right to amend the particulars and conditions of sale at any time before the date of the Auction. In the event of there being any additions or amendments an addendum will be issued for the information of purchasers and the addendum will be attached to the sale contract and form part thereof. In the event of any conflict between the addendum and the particulars or the conditions of sale, the addendum shall prevail. Prospective purchasers are deemed to have read and to have full knowledge of the contents of the addendum if any.
7 Bids may be refused at the Auctioneers’ discretion. The Auctioneers reserve the right to bid on behalf of the vendor up to the reserve.
8 The Auctioneers reserve the right to amend the order of the sale. The Auctioneers may re-offer a property in separate Lots if the whole of the property is not sold or sell in one Lot properties which are first offered individually.
9 Prospective purchasers intending to attend the Auction to bid are advised to contact the Auctioneers prior to the sale date and time to check whether the particular property has been withdrawn or sold prior and to check at the Auction that there have been no variations to the Special Conditions of Sale in respect of any particular property. Neither the Auctioneers nor the vendors can be held responsible for any losses, damages or abortive costs incurred in respect of Lots which are withdrawn or sold prior and therefore prospective purchasers interested in specific Lots are invited to register that interest with the Auctioneers.
10 Guide prices which are given by the Auctioneers are intended to be an indication only of the price at which the property might sell and are not taken by any prospective purchasers as a valuation. Prospective purchasers are strongly advised to consult their own professional advisers with respect to any sums to be offered at the Auction. The Auctioneers and the vendors accept no responsibility for any loss, damage, costs or expenses incurred as a result of relying on the Auctioneers’ guide prices. The Auctioneers are under no obligation to provide any advice to prospective purchasers with respect to rental values of any particular property.
11 No fittings, fixtures, appliances etc have been examined or tested as to their functionality.
12 Unless otherwise provided in the Special Conditions of Sale the price of each Lot is exclusive of any Value Added Tax which may be chargeable thereon.
13 Upon the fall of the Auctioneers’ hammer the successful bidder is under a binding contract to purchase the property in accordance with the General and Special Conditions of Sale and the contents of this Notice. The purchaser will then be required to provide his or her name and address together with those of the solicitors acting for the purchaser. Should the purchaser refuse to or incorrectly provide this information the Auctioneers reserve the right to offer the property to the under bidder or alternatively re-offer the Lot by auction and claim any resultant loss against the original bidder.
14 Upon the fall of the hammer the purchaser is required to sign the memorandum of sale as it appears in this catalogue.
15 A separate deposit amounting to 10% of the price (plus Value Added Tax where applicable) is required in respect of each Lot purchased. The deposit must be paid by bankers draft unless prior arrangements have been made to pay by cheque. Payment by credit card is not acceptable.
16 The purchaser will be responsible for insurance of the property from the moment the property is knocked down to him or her and the purchaser will be responsible for making arrangements in this regard.
17 These particulars do not constitute any part of an offer or a contract. None of the statements contained in these particulars as to the properties may be relied on as statements or representations of fact. Prospective purchasers must satisfy themselves on the accuracy of each of the statements contained in these particulars and should take their own legal and professional advice. The vendors do not make or give and neither the Auctioneers nor any of their employees or any person appointed by them has any authority to make or give any representation or warranty in relation to the properties.
18. BUYERS ADMINISTRATION CHARGE. The successful buyer will be required to pay the Auctioneers a Buyers Administration Charge of £120.00 inc. VAT upon exchange of contracts for each property purchased.
19 Whilst every care is taken in the compilation of this catalogue the Auctioneers may not have been able to verify all of the information contained herein. However the details of the properties are believed to be correct at the time of compilation but they may be subject to amendment or alteration up to the time and date of sale.
20 “As auctioneers we have a legal responsibility and liability to verify the identity of both sellers and buyers. Anyone who therefore intends to bid for any property included in this sale will be required to produce evidence by way of Driving Licence, Passport or other form of identity when completing the Memorandum of Sale or Contract”.
21 These particulars are copyright and may not be reproduced without the consent of the Auctioneers.
Introduction
The common auction conditions have three main sections
1. Glossary This gives special meanings to some words used in the rest of the conditions.
2. -The conduct of the auction These conditions regulate the conduct of the auction. If you read our catalogue or attend the auction you do so on the basis that you accept them.
3. -Conditions of sale if you buy a lot you will sign a sale memorandum under which you agree to be bound by the conditions of sale that apply to that lot.
These conditions are:
• General conditions that apply to all lots
• Any extra general conditions in the catalogue or an addendum
• Special conditions that only apply to the lot you are buying (and which may vary the general conditions) The conditions are legally binding.
Important notice
A prudent buyer will, before bidding for a lot at an auction
• Take professional advice from a solicitor and, in appropriate cases, a chartered surveyor and an accountant
• Read the conditions
• Inspect the lot
• Carry out usual searches and make usual enquiries
• Check the content of all available leases and other documents relating to the lot
• Check that what is said about the lot in the catalogue is accurate
• Have finance available for the deposit and purchase price
The conditions assume that the buyer has acted like a prudent buyer. If you choose to buy a lot without taking these normal precautions you do so at your own risk.
Glossary
In the conditions wherever it makes sense
• Singular words can be read as plurals, and plurals as singular words
• A ‘person’ includes a corporate body
• Words of one gender include the other genders
Actual completion date The date when completion takes place or is treated as taking place for the purposes of apportionment and calculating interest.
Addendum An amendment or addition to the conditions whether contained in a supplement to the catalogue, a written notice from the auctioneers or an oral announcement at the auction.
Agreed completion date (a) the date specified in the special conditions, or (b) if no date is specified, 20 business days after the contract date but if that date is not a business day the first subsequent business day
Approved bank A UK clearing bank
Arrears Arrears of rent and other sums due under the tenancies but unpaid on the actual completion date
Auction The auction advertised in the catalogue
Auctioneers The auctioneers at the auction
Business day A day which is not (a) a bank or public holiday or (b) a Saturday or a Sunday
Buyer The person who agrees to buy the lot or, if applicable, that person’s personal representatives: if two or more are jointly the buyer all obligations can be enforced against them jointly or against each of them separately
Catalogue The catalogue to which the conditions refer including any supplement to it
Completion Completion of the sale of the lot
Conditions This glossary, the conditions for the conduct of the auction, the general conditions, any extra conditions and the special conditions
Contract The contract by which the seller agrees to sell and the buyer agrees to buy the lot
Contract date The date of the auction or, if the lot is not sold at the auction, (a) the date of the sale memorandum signed by both seller and buyer or (b) if contracts are exchanged, the date of exchange. If exchange is not effected in person or by an irrevocable agreement to exchange made by telephone, fax or electronic mail the date of exchange is the date on which both parts have been signed and posted or otherwise placed beyond normal retrieval.
Documents Documents of title (including, if title is registered, the entries on the register and the filed plan) and other documents listed or referred to in the special conditions relating to the lot
Extra conditions Any additions to or variations of the conditions that are of general application to all lots
General conditions The conditions so headed
Interest rate If not specified in the special conditions, 4% above the base rate from time to time of Barclays Bank plc
Lot Each separate property described in the catalogue or (as the case may be) the property that the seller has agreed to sell and the buyer to buy.
Old arrears Arrears due under any of the tenancies that are not ‘new tenancies’ as defined by the Landlord and Tenant (Covenants) Act 1995
Particulars The section of the catalogue that contains descriptions of each lot
Practitioner A receiver, administrative receiver or liquidator
Price The price that the buyer agrees to pay for the lot
Ready to complete Ready, willing and able to complete: if completion would enable the seller to discharge all financial charges secured on the lot that have to be discharged by completion, then those outstanding financial charges do not prevent the seller from being ready to complete
Sale memorandum The form so headed set out in the catalogue in which the terms of the contract for the sale of the lot are recorded
Seller The person selling the lot
Special conditions The conditions so headed that relate to the lot
Tenancies All tenancies, leases, licencies to occupy and agreements for lease subject to which the lot is sold, and any documents varying or supplemental to them
Transfer Includes a conveyance or assignment (and to transfer includes to convey or to assign)
TUPE The Transfer of Undertakings (Protection of Employment) Regulations 1981 as modified or re-enacted from time to time
VAT Value Added Tax or other tax of a similar nature
VAT election An election to waive exemption from VAT in respect of the lot
We (and us and our) The auctioneers
You (and your) Someone who has a copy of the catalogue or who attends or bids at the auction, whether or not a buyer
The Conduct of the Auction
The catalogue is issued only on the basis that you accept these conditions relating to the conduct of the auction. They override all other conditions and can only be varied if we agree.
Our role
As agents for each seller we have authority to
• Prepare the catalogue from information supplied by or on behalf of each seller
• Offer each lot for sale
• Sell each lot
• Receive and hold deposits
• Sign each sale memorandum
•Treat a contract as repudiated if the buyer fails to sign a sale memorandum or pay a deposit as required by the conditions
Our decision on the conduct of the auction is final.
We may cancel the auction, withdraw lots from sale, or alter the order in which lots are offered for sale. We may also combine or divide lots.
You acknowledge that to the extent permitted by law we owe you no duty of care and you have no claim against us for any loss.
Bidding and reserve prices
We may refuse to accept a bid. We do not have to explain why.
If there is a dispute over bidding we are entitled to resolve it, and our decision is final.
Unless stated otherwise each lot is subject to a reserve price. If no bid equals or exceeds that reserve price the lot will be withdrawn from the auction. The seller may bid (or ask us or another agent to bid on the seller’s behalf) up to the reserve price but may not make a bid equal to or exceeding the reserve price.
Where a guide price is given that price is not to be taken as an indication of the value of the lot or of the reserve price.
The particulars and other information
We have taken reasonable care to prepare particulars that correctly describe each lot. However the particulars are based on information supplied by or on behalf of the seller and we are not responsible for errors.
The particulars are for your information but you must not rely on them. They do not form part of any contract between the seller and the buyer.
If we provide any information or a copy of any document we do so only on the basis that we are not responsible for its accuracy.
The contract
A successful bid is one we accept as such.
If you make a successful bid for a lot you are obliged to buy that lot on the terms of the sale memorandum.
The price will be the amount you bid plus VAT (if applicable). You must before leaving the auction
• Provide all information we reasonably need from you to enable us to complete the sale memorandum including appropriate proof of your identity
• Sign the completed sale memorandum
• Pay the deposit and if you do not we may either
• As agent for the seller treat that failure as your repudiation of the contract and offer the lot for sale again: the seller may then have a claim against you for breach of contract
• Sign the sale memorandum on your behalf
Deposits must be paid by cheque or by bankers’ draft drawn on an approved bank in our favour. The catalogue states whether we also accept cash, or debit or credit cards.
We may retain the sale memorandum signed by or on behalf of the seller until we receive the deposit in cleared funds.
If you make a successful bid for a lot
• You are personally liable to buy it even if you are acting as an agent. It is your responsibility to obtain an indemnity from the person for whom you are the agent
• Where the buyer is a company you warrant that the buyer is properly constituted and able to buy the lot
• If the buyer does not comply with its obligations under the contract you are personally liable to buy the lot and must indemnify the seller in respect of any loss the seller incurs as a result of the Buyer’s default.

AUCTIONS NORTH EAST LIMITED
7 Old Elvet Durham City DH1 3HL