West Midlands Property Auction
176+ Estate Agent Branches covering:
West Midlands Birmingham Shropshire Staffordshire Worcestershire Warwickshire Herefordshire
Lots in this Brochure: 49
Price Ranging From: £36,000 - £700,000
Live Auction Date: 24th July 2019 Register From: 18:00 Auction Starts: 19:00
WV1 Suite, Molineux Stadium, Waterloo Road, Wolverhampton, WV1 4QR
0121 366 0539 westmidlandspropertyauction.co.uk 1 WEST MIDLANDS EVENT CALENDAR 2019
WEST MIDLANDS PROPERTY AUCTION
2 VENUE
WV1 Suite, Molineux Stadium, Waterloo Road, Wolverhampton, West Midlands, WV1 4QR
Tel: 0871 222 2220 Visit: www.corporatewolves.co.uk
Registration at 6.00pm Auction begins at 7.00pm
DIRECTIONS
By road from the North: at next two islands, pass Banks’s Brewery and swimming Exit M6 at Junction 12. At island take third exit onto A5 for baths on left and then turn left at next set of traffic lights. Wolverhampton. At the next island turn left onto A449. After Molineux is 500 yards on the right. six miles the A449 passes under the M54. Carry straight on and at the sixth island (Five Ways) take the third exit onto By road from the South East: Waterloo Road. Molineux is one mile straight on. Exit M6 at Junction 10. Take A454 via Willenhall to Wolverhampton Ring Road. At first Ring Road island, take By road from the South West: the fourth exit (A449 to Stafford). Straight on at next two sets Exit M5 at Junction 2. Follow the signs for Wolverhampton of traffic lights. Filter right at third set of lights into Waterloo on the A4123 for eight miles to the Ring Road. Turn left on Road. Molineux is 500 yards on right. Ring Road, following signs for Molineux. Take second exit
ATTEND FOR FREE If you don’t want to register to bid, but are interested in the auction process or potentially selling at auction, you can attend our events to see what it’s like. You can also ask our auction team any questions you may have, for example:
Is my property suitable for auction? Any type of property is suitable for sale by auction. Lots range from traditional residential properties from all price ranges, style and condition, new-build development, tenanted investments, developments sites and all sectors of commercial property. Selling through auction is the preferred method of sale in the USA, Canada, and in mainland Europe.
If you are interested in selling by auction and would like to speak to someone sooner, don’t hesitate to contact our West Midlands Auction team on 0121 366 0539.
3 West Midlands SOLD AT Property Auction AUCTION
Hereford Road, Shrewsbury, Shropshire Orchard House, Luddington Road
Start Bid £340,000 Start Bid £340,000 Viewings 3 Viewings 34 Sold £360,000 Sold £506,000
Harrington Road, Worcester Timbertree Road, Cradley Heath
Start Bid £115,000 Start Bid £180,000 Viewings 18 Viewings 48 Sold £132,000 Sold £261,005
Henley Road, Leamington Spa St. Margarets Road, Leamington Spa
Start Bid £175,000 Start Bid £150,000 Viewings 16 Viewings 21 Sold £188,000 Sold £172,000
4 56 PROPERTIES SOLD ONLINE SINCE OUR LAST AUCTION EVENT
Address Agents Branch Sale Price
108 Dudley Road, Wolverhampton Skitts Wolverhampton £74,500
11 Blythe Court, Fawdry Close, Sutton Coldfield Acres Estate Agents Sutton Coldfield £132,000
11 Norman Avenue, Stoke-on-trent Your Move Tunstall £86,500
11 Willows Road, Oakengates, Telford Barbers Wellington £120,000
11 Woodfield Road, Lower Gornal, Dudley Skitts Sedgley £90,000
110 New Church Road, Wellington, Telford Your Move Wellington £130,000
117 Windsor Road, Halesowen Bloore, King and Kavanagh Bloore & King £142,000
123 Wrekin Drive, Donnington, Telford DB Roberts Halesowen £77,500
13 Fawdry Street, Wolverhampton Skitts Wellington £100,000
147a Stratford Road, Shirley Northwood Wolverhampton £95,000
15 Gravelly Lane, Birmingham Green & Company Solihull £74,000
178 Offmore Road, Kidderminster Phipps and Pritchard Boldmere £91,000
18 Galloway Avenue, Birmingham Prime Estates Kidderminster £205,000
186 Callowbrook Lane, Rubery, Rednal, Birmingham Oulsnam & Co Castle £133,000
1st and 2nd Floor, 2A Harrison Road, Erdington, Birmingham Green & Company Bromwich £328,000
2 Ford Avenue, Chell, Stoke-on-trent Your Move Rubery £72,000
23 Princes Drive, Codsall, Wolverhampton DB Roberts Business Gen £157,500
24 Glenville Drive, Birmingham Green & Company Tunstall £126,000
25 Weston Lane, Bulkington, Bedworth Your Move Wolverhampton £220,000
26 Friars Road, Coventry Payne Associates Boldmere £325,000
26 Wellesbourne Grove, Stratford-upon-avon Peter Clarke & Co LLP Bedworth £268,000
264 Aldersley Road, Wolverhampton DB Roberts City Centre £149,000
28 Chetwynd Avenue, Polesworth, Tamworth Mark Webster & Office £187,000
28 Stokesay Road, Buntingsdale, Market Drayton Company Stratford-Upon- £104,000
29 Holly Lane, Marston Green, Birmingham Barbers Avon £253,000
3 Friarswood Road, Newcastle Ferndown Estates Wolverhampton £100,000
3 Percy Street, Shrewsbury Heywoods Tamworth £140,000
300 Coleshill Road, Birmingham DB Roberts Market Drayton £309,000
32 Lonsdale Street, Stoke-on-trent Prime Estates Birmingham £31,000
32 Overdale, Overdale, Telford DB Roberts Newcastle £106,000
5 56 PROPERTIES SOLD ONLINE SINCE OUR LAST AUCTION EVENT
Address Agents Branch Sale Price
322 New Street, Biddulph Moor, Stoke-on-trent Ewemove Leek/ Hanley £108,000.00
33 Elmsmere Road, Stoke-on-trent Reeds Rains Hanley £56,000.00
34 Davy Road, Beechdale, Walsall Skitts Bloxwich £80,000.00
34 Middlefield Road, Stoke-on-trent Your Move Longton £79,000.00
40 Reabrook Avenue, Shrewsbury DB Roberts Shrewsbury £190,000.00
469 Glascote Road, Glascote, Tamworth Hunters Group Tamworth £107,000.00
49 Freeston Avenue, St. Georges, Telford DB Roberts Wellington £74,000.00
5 Blakefield Walk, Worcester Andrew Grant Worcester £114,000.00
5 Brookside, Wroxeter, Shrewsbury DB Roberts Shrewsbury £110,000.00
50 Erdington Road, Walsall Green & Company Four Oaks £365,000.00
51 Addison Road, Brierley Hill Open House Dudley Dudley £110,000.00
60 Heath Lane, Stourbridge Midcalf Nicholls Kinver £161,000.00
65 Watling Street, Hints, Tamworth Lovett & Co Estate Agents Burntwood £330,000.00
67 Enville Street, Stourbridge Lex Allan Stourbridge £180,000.00
7 Milton Road, Coseley, Bilston Skitts Sedgley £101,000.00
75 Abbey End, Kenilworth Leaders Kenilworth £185,000.00
8 Lewis Avenue, Wolverhampton Skitts Wolverhampton £70,000.00
9 Green Croft, Birmingham Prime Estates Yardley £125,000.00
93 Hughes Avenue, Bradmore, Wolverhampton DB Roberts Wolverhampton £103,000.00
Flat 4 Manor Court, 63 Minster Road, Stourport-on-severn Open House Dudley Dudley £59,000.00
Gas House, Leighton, Welshpool McCartneys Welshpool £130,000.00
Hodge Hill Court, Flat 10 Bromford Road, Birmingham Prime Estates Castle Bromwich £85,000.00
Land At Little Wenlock, Huntington, Little Wenlock, Telford DB Roberts Telford Centre £90,000.00
Oldford House, 62 Nash Square, Birmingham Leaders Kings Norton £30,000.00
The Threshing Barn, Foxcote Farm, Wynall Lane South, Phipps and Pritchard Kidderminster £510,000.00 Stourbridge Tyn Y Ddol, Dolfach, Llanbrynmair McCartneys Newtown £6,500.00
6 AUCTION DAY PROCEDURE
Before placing a bid we strongly advise that you provide a reservation fee or deposit. We will then carry out market research and due diligence on prepare the acknowledgement of reservation form any property you are interested in bidding on. for you to sign using the details provided. Exchange Make sure to review any legal documents we may will usually take place within 56 days under the have for the subject property. We recommend that supervision of your solicitor upon receipt of Draft before bidding you visually inspect the property Contract. Please do not leave the auction room internally and are completely happy with what’s without paying your deposit or reservation fee and on offer. signing the relevant paperwork.
Registration You will require photographic I.D. and proof of If The Lot You Want Is Unsold address to obtain a bidding paddle to enable you to If a lot fails to reach its reserve in the room and you bid at a property auction. If you intend to bid please wish to buy it, ensure you register your highest bid remember to bring with you your debit/credit card with us before you leave the room. We will contact or bankers draft for your Reservation Fee and the the vendor and ask them for their instructions and required identification. Please also bring the contact contact you if we think that a sale after the auction details of the solicitor you intend to use. is negotiable. Alternatively, call us in the office after the sale. Bidding For Your Lot When the auctioneer announces your lot he will also Bidding Prior to the Auction bring to your attention any last minute items which Any bid or registration of interest must be presented you should be aware of. He will read the full address to the vendor in real time which may lead to a of the property, so please double check before property being sold prior to the auction event. Buyers bidding that this is the lot that you are interested in. are urged to register their interest early to avoid any The current lot number is usually displayed with a disappointment. If you require any assistance with photograph on screens at the front of the room. The finance or conveyancing then speak to a member of auctioneer will invite bids at a particular level and the auction team who will be happy to provide quotes you can make this bid by raising your paddle, hand from our specialist panel. or catalogue. If you wish to make a bid other than the auctioneer calls, please shout out your bid and the auctioneer may or may not accept it. The property will be ‘knocked down’ to the highest bidder – but not until the auctioneer warns you by saying ‘going, going, gone’. Never delay until the last second with Remember! If you’re not planning to attend your bid – you may lose it. Remember, there may be the auction, but would like to bid by proxy or 300+ people in the room and unless your bid is clear phone, you must fill and return the form in the auctioneer may not see you. this catalogue or contact the team to pre-register on: 0121 366 0539 On The Fall Of The Hammer [email protected] If you are the successful bidder, a member of the auction team will approach you and ask you to follow them to the sales room. You will be asked to
7 OUR METHODS OF AUCTION
Modern Method of Auction The Modern Method of Auction is different to traditional auction procedures in the UK, in that it is conditional. This means that the sale is not legally binding once a bid is accepted. The successful bidder is required to pay a Buyers Reservation Fee/ Deposit and sign a Reservation Agreement. The property is then reserved to the buyer. The buyer and seller are then required to unconditionally exchange contracts and complete the transaction TRADITIONAL AUCTION within 56 days.
Traditional Method of Auction This is an Unconditional Auction where on MODERN AUCTION acceptance of an offer or on the fall of the hammer the buyer will pay up to a 10% deposit and exchange of contracts is immediate. Both parties are then legally bound to buy and sell. Traditional Auctions are mainly used by the investment market for properties that attract significant interest from professional investors. The residential sector can find it harder to buy through a traditional auction because there is a limited amount of time to put finance in place, meaning many purchases through a traditional auction are cash based.
The Verdict Whilst the Traditional Auction is useful for disposing of investment stock to the investment market quickly and efficiently, the residential market requires more than this. The Modern Method offers the ability to maximise the level of interest from a broad range of buyers, in turn creating the best sales price in the current market but still benefiting from the security of a non refundable reservation fee or deposit and a fixed date to move and sell.
8 PROOF OF IDENTIFICATION AND PURCHASE FUNDS
Successful bidders must provide Proof of Identity and Address, as well as proof of how the purchase will be funded in order for us to comply with money laundering regulations. We will also Important notice! conduct a soft imprint online identification and authentication You must supply at least one process on any successful buyer. document from each list below to proceed with the sale.* Original documents must be provided, photocopies are not accepted.
Proof of Identity Tick List Proof of Address Tick List
Current Signed Passport Current full UK Driving Licence** (Provisional licenses not accepted). Current Full UK/EU Photo Card Driving Licence** A utility bill issued in the last three months (Not a mobile phone bill) Current full UK Driving Licence** (old style)** (Provisional licenses not accepted). Local Authority tax bill (Current year) Resident permit issued by the Home Office to EU Nationals. Bank / Building Society / Credit Union statement containing current address. Inland Revenue Tax Notification. Most recent original mortgage statement Current full UK/EU driving license cannot be used from a UK lender. to prove both ID and address. This document can only identify ID or address.
Purchase Proof of funding - what is required Validation Method
a) Must be dated within the last 90 Shares or Bank Bank or Share Statement showing how the funds days Account have been accumulated. b) Must show the buyer(s) name and address
Where the sale of property has not been finalised: Memorandum of Sale must Either the most recent mortgage statement or a confirm the buyers details, the copy of the Memorandum of Sale Proceeds of Sale conveyancer’s name and the property sale price. Where the sale of property has been finalised: Letter from the solicitor/conveyancer
Decision in Principle (DIP) Agreement in Principle a) Must be in the buyers name Mortgage (AIP) or Mortgage in Principle (MIP) from the b) Must be in date/valid Lender c) Must confirm the loan value
If you are funding with any other method please contact the Auctioneer prior to the auction for confirmation of what is required. DEPOSITS / RESERVATION FEES Deposits and /or fees will be accepted by one of the following methods: Banker’s Draft, Debit / Credit Cards. NO CASH OR CHEQUES WILL BE ACCEPTED
9 GLOSSARY OF COMMON AUCTION TERMS
Addendum a non-refundable basis. The deposit is held as a This is the document published on the day of the reservation against the subject property. If the sale auction containing all changes and additions to falls through due to an act or action of the vendor, the details within the catalogue. It is important the deposit becomes repayable to the buyer in full. that you read this document before bidding to see if there is anything significant listed against your Exchange of Contracts lot. We will be compiling these amendments right The buyer will sign the contract for sale and up until the auction day. The most up to date copy send it to the seller, who also signs it. This is the is always available from our Auction Department. point at which both parties are legally obliged The Addendum forms part of the contract of sale. to complete the transaction, and usually aim to takes place 28 days after the buyer’s solicitor is Reserve Price in receipt of draft contracts. At this point there is This is the minimum price that is acceptable to a legal obligation for the purchaser to buy and the the vendor for selling their lot in the auction. We vendor to sell. do not publish Reserve Prices; this figure is a private agreement between the vendor and the Completion of Contracts auctioneer, however as a guide the Reserve is This is when the purchase becomes final. generally around 10% in excess of the Starting The purchase price is paid in full by the buyer’s Bid. Both the Starting Bid and Reserve can be conveyancer and received by the seller’s subject to change. conveyancer. The seller must move out of the property on this date and release the keys to Reservation Fee the buyer. Unless otherwise stated, each property is sold subject to a Reservation Fee of 4.2% including Special Conditions Of Sale VAT subject to a minimum of £6,000 including In addition to these ‘general’ conditions VAT. If you are interested in a particular lot please applicable to each lot the vendor’s solicitor may speak to a member of the team before you bid and draft additional terms applicable to their individual clearly read the Terms & Conditions attached to lot – these are the Special Conditions. the property. Please note that the Reservation Fee is in addition to the final negotiated selling These are not printed in the catalogue and are price, and is paid on a non-refundable basis. It is available for free from the Auction Department held as a reservation against the subject property if applicable. They form part of the Contract of until exchange of contracts take place. If the sale Sale. It is important that you satisfy all of your falls through due to the vendor breaching the terms legal enquiries and are aware of all conditions of the agreement the Reservation Fee or deposit (including any Addendum) before you bid at becomes repayable to the buyer in full. auction.
Reservation Deposit Energy Performance Certificate (EPCs) Under this method of sale the buyer will be required EPCs contain information on your home’s to pay a Reservation Deposit. The Reservation energy use and typical energy costs, with Deposit is calculated against the final negotiated recommendations on how to reduce energy selling price at the equivalent of 4.2% including use and save money. VAT subject to a minimum of £6,000 including VAT. The deposit is taken as a part payment of the Auction Catalogue final negotiated selling price and will be deducted Details of the property and land to be sold are from the balance of the final selling price upon set out in this catalogue. All lots are sold subject completion of contracts. The deposit is taken on to Special Conditions of Sale. It is important that
10 prospective purchasers satisfy themselves as to bidding facility is disabled. If you wish to place the location, boundaries, condition and state of a pre auction offer you will need to speak with a the lots before the auction. member of the Auction Team who will explain the process to you. The vendor can consider offers prior Starting Bids to the live auction, but this is at their discretion to These are prices published for each property and do so. The auctioneers or vendors cannot be held are the level at which the bidding will commence. responsible for costs incurred in respect of any lot They are for guidance only and are not Reserve which is withdrawn or sold prior to auction. Prices. They may occasionally change during the marketing period. Each Starting Bid has a corresponding Reserve Price that is usually in Buyer Information Pack excess of the starting price. A Buyer Information Pack is a range of legal documents prepared before the property Insurance is sold via auction. This gives the buyer Unless indicated to the contrary, the seller a chance to view the legal aspects of the will continue to be responsible for insuring the property before purchasing. property until completion. The pack includes: Property Information Viewing forms, Fixture and Fittings forms, official Land Due to the nature and condition of auction Registry Documents, Title Plan, Local Search properties, we highlight the potential risk that and Water and Drainage Search, leasehold viewing such properties carries and advise all to documents if applicable and auction Terms proceed with caution and take necessary actions and Conditions. to ensure their own safety whilst viewing any lot in this catalogue. Viewings are conducted entirely The successful purchaser will be required at your own risk, these properties are not owned to pay £200 including VAT for the preparation or controlled by the Auction Department and we of the Buyer Information Pack. cannot be held liable for loss or injury caused while viewing or accessing any lot. Due to the Once the property is sold, the pack will be nature of some auction properties, electricity forwarded to the solicitors involved to ensure may not be turned on therefore viewing times a speedy exchange and completion. are restricted.
The Legal Aspect The legal aspect of buying at auction is a contractual commitment. Before making an If you have any queries or further questions offer prior to auction or bidding at the auction it regarding the information in this catalogue, is advisable to consult a solicitor regarding the don’t hesitate to speak to a member of our General and Special Conditions of Sale, the Local auction team who will be able to offer you sound Authority Search and other legal documentation. advice. You can contact us by telephone, email or alternatively visit our website Pre Auction Offers www.westmidlandspropertyauction.co.uk If a property has been entered to a live auction room at one of our regional auctions the online
Disclaimer Particulars within this catalogue are believed to be correct but their accuracy is not guaranteed. Information relating to rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authority. All measurements, areas and distances are approximate only. Potential purchasers are advised to check them. 11 LOT LIST West Midlands Property Auction
Lot Address Starting Bid Agents
01 60-62 Radford Road, Coventry, West Midlands £700,000 Payne Associates
02 4 Bentley Avenue, Nottingham, Nottinghamshire £145,000 The Nottingham
03 3 Knight Avenue, Coventry, West Midlands £130,000 Wilsons
04 20 Dovecote Close, Solihull, West Midlands £250,000 John Shepherd
05 93 Admington Road, Birmingham, West Midlands £125,000 DM And Co Homes
06 Flat 7 30 Old Bank Top, Birmingham, West Midlands £40,000 House Hub
07 35 Avenue Road, Kings Heath, Birmingham, West Midlands £160,000 Acres Estate Agents
08 15 White Farm Road, Sutton Coldfield, West Midlands £200,000 Acres Estate Agents
09 37 Wyckham Road, Birmingham, West Midlands £215,000 Green & Company
10 65 Plants Brook Road, Sutton Coldfield, West Midlands £230,000 Green & Company
11 49 Roach Close, Birmingham, West Midlands £115,000 Prime Estates
12 Apt. 1311, Metropolitan House, 1 Hagley Road, Birmingham, West Midlands £130,000 Centrick Property
13 Apt. 1707, The Cube East 200, Wharfside Street, Birmingham, West Midlands £220,000 Centrick Property
14 14 Wellswood Avenue, Ketley Bank, Telford, Shropshire £78,000 DB Roberts
15 Honeysuckle Cottage, 23 High Street, Hadley, Telford, Shropshire £65,000 DB Roberts
16 The Firs, New Road, Dawley, Telford, Shropshire £150,000 DB Roberts
17 39 Ewart Road, Donnington, Telford, Shropshire £210,000 DB Roberts
18 38 Ellesmere Road, Shrewsbury, Shropshire £180,000 DB Roberts
19 6 Coton Manor, Berwick Road, Shrewsbury £90,000 Monks
20 1 James Nelson Crescent, Trench, Telford, Shropshire £80,000 Barbers
21 Willmore, The Chequer, Bronington, Whitchurch, Shropshire £90,000 Barbers
22 15 Moreton Wood, Moreton Wood, Market Drayton, Shropshire £200,000 Barbers
23 10 Tern Grove, Loggerheads, Market Drayton, Shropshire £190,000 Heywoods
24 27 New Road, Rugeley, Staffordshire £180,000 DB Roberts
25 82a New Street, Dordon, Tamworth, Staffordshire £68,000 Mark Webster & Company
26 4 Coach House Mews, Admaston, Rugeley, Staffordshire £200,000 Lovett & Co Estate Agents
27 4b Ash Grove, Burntwood, Staffordshire £240,000 Lovett & Co Estate Agents
28 23 Heath Close, Hallow, Worcester £90,000 Your Move
29 2 Derry Street, Stoke-on-trent, Staffordshire £40,000 Keates Hulme
30 471 Victoria Road, Stoke-on-trent, Staffordshire £40,000 Keates Hulme
12 LOT LIST West Midlands Property Auction
Lot Address Starting Bid Agents
31 82 Pinnox Street, Stoke-on-trent, Staffordshire £45,000 Reeds Rains
32 17 Furlongs Road, Sedgley, Dudley, West Midlands £120,000 Skitts
33 5a Philip Road, Tipton, West Midlands £130,000 Skitts
34 5 Whitegates Road, Bilston, West Midlands £110,000 Skitts
35 Flat 1 Highbury, School Street, Willenhall, West Midlands £36,000 Skitts
36 31 Birchfields Road, Willenhall, West Midlands £180,000 Skitts
37 12 Battlefield Hill, Wombourne, Wolverhampton, West Midlands £115,000 Skitts
38 134 Whitgreave Street, West Bromwich, West Midlands £120,000 Skitts
39 51 Dimmocks Avenue, Bilston £100,000 Skitts
40 15 Collis Street, Stourbridge, West Midlands £90,000 Lex Allan
41 52 Heath Lane, Stourbridge, West Midlands £110,000 Midcalf Nicholls
42 4 Wyndmill Crescent, West Bromwich, West Midlands £195,000 WK Property
43 33 Sandringham Road, Penn, Wolverhampton, West Midlands £180,000 DB Roberts
44 Flat 1, 27 Listley Street, Bridgnorth, Shropshire £160,000 Your Move
45 Flat 2, 27 Listley Street, Bridgnorth, Shropshire £135,000 Your Move
46 Flat 3, 27 Listley Street, Bridgnorth, Shropshire £125,000 Your Move
47 Flat 4, 27 Listley Street, Bridgnorth, Shropshire £145,000 Your Move
48 Flat 5, 27 Listley Street, Bridgnorth, Shropshire £125,000 Your Move
49 Flat 6, 27 Listley Street, Bridgnorth, Shropshire £125,000 Your Move
13 LOT 1
Starting Bid: £700,000 60-62 Radford Road Coventry West Midlands CV1 4BY
Investment-property Gas Central Heating Purpose0 Bedroo builtms block of 24 Double Glazing self-contained0 Reception R ostudiosoms Tenure: Freehold 0 Bathrooms
City Centre Office: 024 7622 2022
LOT 2
Starting Bid: £145,000 4 Bentley Avenue Nottingham Nottinghamshire NG3 7AX
Detached House Off Road Parking 3 Bedrooms No Chain 1 Reception Room EPC: D 1 Bathroom Tenure: Freehold
Nottingham: 0115 956 4403
LOT 3
Starting Bid: £130,000 3 Knight Avenue Coventry West Midlands CV1 2AY
Terraced House Gardens UNCONDITIONAL 2 Bedrooms EPC: D 1 Reception Room Tenure: Freehold 1 Bathroom
WILSONS: 02476880440
1
14 LOT 1 LOT 4
Starting Bid: £700,000 Starting Bid: £250,000 60-62 Radford Road 20 Dovecote Close Coventry Solihull West Midlands West Midlands CV1 4BY B91 2EP
Investment-property Gas Central Heating Link-detached Garage 0 Bedrooms Double Glazing 2 Bedrooms No Chain 0 Reception Rooms Tenure: Freehold 1 Reception Room EPC: D 0 Bathrooms 1 Bathroom Tenure: Freehold
City Centre Office: 024 7622 2022 Solihull: 0121 703 1850
LOT 2 LOT 5
Starting Bid: £145,000 Starting Bid: £125,000 4 Bentley Avenue 93 Admington Road Nottingham Birmingham Nottinghamshire West Midlands NG3 7AX B33 0RU
Detached House Off Road Parking Terraced House Off Road Parking 3 Bedrooms No Chain 3 Bedrooms Gardens 1 Reception Room EPC: D 1 Reception Room EPC: C 1 Bathroom Tenure: Freehold 1 Bathroom Tenure: Leasehold
Nottingham: 0115 956 4403 Solihull: 0121 775 0101
LOT 3 LOT 6
Starting Bid: £130,000 Starting Bid: £40,000 3 Knight Avenue Flat 7 30 Old Bank Top Coventry Birmingham West Midlands West Midlands CV1 2AY B31 3XD
Terraced House Gardens Flat Ideal Investment 2 Bedrooms EPC: D 1 Bedroom No Chain 1 Reception Room Tenure: Freehold 1 Reception Room Tenure: Leasehold 1 Bathroom 1 Bathroom
WILSONS: 02476880440 Rubery: 01214532106
1 2
15 LOT 7 LOT 10
Starting Bid: £160,000 Starting Bid: £230,000 35 Avenue Road 65 Plants Brook Road Kings Heath, Birmingham Sutton Coldfield West Midlands West Midlands B14 7TJ B76 1HH
Terraced House Off Road Parking Detached Bungalow Garage 2 Bedrooms Rear Garden 3 Bedrooms No Chain 2 Reception Rooms Tenure: Freehold 1 Reception Room EPC: E 1 Bathroom 1 Bathroom Tenure: Freehold
Wylde Green: 0121 350 5533 Walmley: 0121 313 1991
LOT 8 LOT 11
Starting Bid: £200,000 Starting Bid: £115,000 15 White Farm Road 49 Roach Close Sutton Coldfield Birmingham West Midlands West Midlands B74 4LH B37 7UH
Semi Detached House Off Road Parking Terraced House No Chain 3 Bedrooms Rear Garden 4 Bedrooms Rear Garden 1 Reception Room Tenure: Freehold 1 Reception Room Tenure: Freehold 1 Bathroom 1 Bathroom
Four Oaks: 0121 323 3088 Castle Bromwich: 0121 7487272
LOT 9 LOT 12
Starting Bid: £215,000 Starting Bid: £130,000 37 Wyckham Road Apartment 1311 Metropolitan House Birmingham 1 Hagley Road, Birmingham West Midlands West Midlands B36 0HS B16 8HX
Semi Detached House Double Garage Apartment On-site Concierge 4 Bedrooms Garden 1 Bedroom Tenant In Situ 1 Reception Room EPC: D 1 Reception Room EPC: C 1 Bathroom Tenure: Freehold 1 Bathroom Tenure: Leasehold
Castle Bromwich: 0121 241 1100 Birmingham: 0121 347 6116
3 4
16 LOT 7 LOT 10
Starting Bid: £160,000 Starting Bid: £230,000 35 Avenue Road 65 Plants Brook Road Kings Heath, Birmingham Sutton Coldfield West Midlands West Midlands B14 7TJ B76 1HH
Terraced House Off Road Parking Detached Bungalow Garage 2 Bedrooms Rear Garden 3 Bedrooms No Chain 2 Reception Rooms Tenure: Freehold 1 Reception Room EPC: E 1 Bathroom 1 Bathroom Tenure: Freehold
Wylde Green: 0121 350 5533 Walmley: 0121 313 1991
LOT 8 LOT 11
Starting Bid: £200,000 Starting Bid: £115,000 15 White Farm Road 49 Roach Close Sutton Coldfield Birmingham West Midlands West Midlands B74 4LH B37 7UH
Semi Detached House Off Road Parking Terraced House No Chain 3 Bedrooms Rear Garden 4 Bedrooms Rear Garden 1 Reception Room Tenure: Freehold 1 Reception Room Tenure: Freehold 1 Bathroom 1 Bathroom
Four Oaks: 0121 323 3088 Castle Bromwich: 0121 7487272
LOT 9 LOT 12
Starting Bid: £215,000 Starting Bid: £130,000 37 Wyckham Road Apartment 1311 Metropolitan House Birmingham 1 Hagley Road, Birmingham West Midlands West Midlands B36 0HS B16 8HX
Semi Detached House Double Garage Apartment On-site Concierge 4 Bedrooms Garden 1 Bedroom Tenant In Situ 1 Reception Room EPC: D 1 Reception Room EPC: C 1 Bathroom Tenure: Freehold 1 Bathroom Tenure: Leasehold
Castle Bromwich: 0121 241 1100 Birmingham: 0121 347 6116
3 4
17 LOT 13
Starting Bid: £220,000 Apartment 1707 The Cube East 200 Wharfside Street, Birmingham West Midlands B1 1PR
Apartment Allocated Parking 2 Bedrooms No Chain 1 Reception Room EPC: C 2 Bathrooms Tenure: TBC
Birmingham: 0121 347 6116
LOT 14
Starting Bid: £78,000 14 Wellswood Avenue Ketley Bank, Telford Shropshire TF2 0BD
Semi Detached House Garden 3 Bedrooms Ideal Investment 1 Reception Room EPC: C 1 Bathroom Tenure: Freehold
Telford Centre: 01952 291722
LOT 15
Starting Bid: £65,000 Honeysuckle Cottage, 23 High Street Hadley, Telford Shropshire TF1 5NL
Terraced House Gardens 2 Bedrooms EPC: E 1 Reception Room Tenure: Freehold 1 Bathroom
Wellington: 01952 256 272
5
18 LOT 16
Starting Bid: £150,000 The Firs, New Road Dawley, Telford Shropshire TF4 3LL
Detached Bungalow Garage 3 Bedrooms Gardens 1 Reception Room EPC: D 1 Bathroom Tenure: Freehold
Wellington: 01952 256 272
LOT 17
Starting Bid: £210,000 39 Ewart Road Donnington, Telford Shropshire TF2 7LP
Detached Bungalow Driveway & Garage 3 Bedrooms Gardens 2 Reception Rooms EPC: E 1 Bathroom Tenure: Freehold
Telford Centre: 01952 291722
LOT 18
Starting Bid: £180,000£195,000 38 Ellesmere Road Shrewsbury Shropshire SY1 2PR
Semi Detached House Tenure: FreeholdTBC 5 Bedrooms 3 Reception Rooms 1 Bathroom
Shrewsbury: 01743 357 032
6
19 LOT 19
Starting Bid: £90,000 6 Coton Manor Berwick Road, Shrewsbury Shropshire SY1 2LT
Flat Garage 3 Bedrooms Communal Gardens 1 Reception Room EPC: G 2 Bathrooms Tenure: Leasehold
Shrewsbury: 01743 361422
LOT 20
Starting Bid: £80,000 1 James Nelson Crescent Trench, Telford Shropshire TF2 7JG
Other Front & Rear Gardens 3 Bedrooms Driveway 2 Reception Rooms Tenure: Freehold 1 Bathroom
Wellington: 01952 221200
LOT 21
Starting Bid: £90,000 Willmore, The Chequer Bronington, Whitchurch Shropshire SY13 2JQ
Detached Bungalow Double Garage 2 Bedrooms Gardens 1 Reception Room EPC: G 1 Bathroom Tenure: TBC
Whitchurch: 01948 667272
7
20 LOT 19 LOT 22
Starting Bid: £90,000 Starting Bid: £200,000 6 Coton Manor 15 Moreton Wood Berwick Road, Shrewsbury Moreton Wood, Market Drayton Shropshire Shropshire SY1 2LT TF9 3RX
Flat Garage Detached With Land 3.5 Acres of Land 3 Bedrooms Communal Gardens 2 Bedrooms No Upward Chain 1 Reception Room EPC: G 1 Reception Room Tenure: Freehold 2 Bathrooms Tenure: Leasehold 1 Bathroom
Shrewsbury: 01743 361422 Market Drayton: 01630 653641
LOT 20 LOT 23
Starting Bid: £80,000 Starting Bid: £190,000 1 James Nelson Crescent 10 Tern Grove Trench, Telford Loggerheads, Market Drayton Shropshire Shropshire TF2 7JG TF9 4DZ
Other Front & Rear Gardens Detached House Drive & Garage 3 Bedrooms Driveway 4 Bedrooms Garden 2 Reception Rooms Tenure: Freehold 4 Reception Rooms Tenure: Freehold 1 Bathroom 2 Bathrooms
Wellington: 01952 221200 Newcastle under Lyme: 01782 617 343
LOT 21 LOT 24
Starting Bid: £90,000 Starting Bid: £180,000 Willmore, The Chequer 27 New Road Bronington, Whitchurch Rugeley Shropshire Staffordshire SY13 2JQ WS15 4AA
Detached Bungalow Double Garage Detached Garage 2 Bedrooms Gardens 3 Bedrooms Gardens 1 Reception Room EPC: G 2 Reception Rooms EPC: E 1 Bathroom Tenure: TBC 1 Bathroom Tenure: TBC
Whitchurch: 01948 667272 Stafford: 01785 255800
7 8
21 LOT 25
Starting Bid: £68,000 82a New Street Dordon, Tamworth Staffordshire B78 1TQ
Flat Double Glazing 2 Bedrooms EPC: D 1 Reception Room Tenure: Leasehold 1 Bathroom
Tamworth: 01827 64903
LOT 26
Starting Bid: £200,000 4 Coach House Mews Admaston, Rugeley Staffordshire WS15 3NL
Period Double Garage 2 Bedrooms No Chain 1 Reception Room Tenure: Leasehold 1 Bathroom
Burntwood: 01543889410
LOT 27
Starting Bid: £240,000 4b Ash Grove Burntwood Staffordshire WS7 4TG
Semi Detached Bungalow Off Road Parking 3 Bedrooms Garden 1 Reception Room Tenure: TBC 1 Bathroom
Burntwood: 01543889410
9
22 LOT 28
Starting Bid: £90,000 23 Heath Close Hallow, Worcester Worcestershire WR2 6LJ
Semi Detached House No Chain 3 Bedrooms Gardens 1 Reception Room EPC: D 1 Bathroom Tenure: Freehold
Bromsgrove: 01527 875 234
LOT 29
Starting Bid: £40,000 2 Derry Street Stoke-on-trent Staffordshire ST4 3BD
End Terraced House Gas Central Heating 3 Bedrooms Double Glazing 1 Reception Room Tenure: Freehold 1 Bathroom
Stoke: 01782 413580
LOT 30
Starting Bid: £40,000 471 Victoria Road Stoke-on-trent Staffordshire ST1 3JF
Terraced House Ideal Investment 2 Bedrooms Rear Yard 2 Reception Rooms EPC: F 1 Bathroom Tenure: Freehold
Stoke: 01782 413580
10
23 LOT 31
Starting Bid: £45,000 82 Pinnox Street Stoke-on-trent Staffordshire ST6 6AF
Terraced House No Chain 2 Bedrooms Rear Garden 1 Reception Room Tenure: Freehold 1 Bathroom
Hanley: 01782 204244
LOT 32
Starting Bid: £120,000 17 Furlongs Road Sedgley, Dudley West Midlands DY3 3UT
Semi Detached House Garage 3 Bedrooms No Chain 1 Reception Room Tenure: Freehold 1 Bathroom
Sedgley: 01902 686 868
LOT 33
Starting Bid: £130,000 5a Philip Road Tipton West Midlands DY4 7JJ
Semi Detached House No Chain 3 Bedrooms Off Road Parking 1 Reception Room Tenure: Freehold 1 Bathroom
Great Bridge: 0121 520 2255
11
24 LOT 34
Starting Bid: £110,000 5 Whitegates Road Bilston West Midlands WV14 8XB
Detached House Off Road Parking 3 Bedrooms Rear Garden 2 Reception Rooms Tenure: Freehold 1 Bathroom
Bilston: 01902 353 578
LOT 35
Starting Bid: £36,000 Flat 1 Highbury School Street, Willenhall West Midlands WV13 3DU
Flat Garage 1 Bedroom Tenure: Leasehold 1 Reception Room 1 Bathroom
Willenhall: 01902 631 151
LOT 36
Starting Bid: £180,000 31 Birchfields Road Willenhall West Midlands WV12 4PQ
Semi Detached House Off Road Parking 3 Bedrooms Large Garden 2 Reception Rooms Tenure: Freehold 1 Bathroom
Willenhall: 01902 631 151
12
25 LOT 37 LOT 40
Starting Bid: £115,000 Starting Bid: £90,000 12 Battlefield Hill 15 Collis Street Wombourne, Wolverhampton Stourbridge West Midlands West Midlands WV5 0JJ DY8 4EA
Semi Detached House No Chain Terraced House No Chain 3 Bedrooms Local Amenities 2 Bedrooms Rear Courtyard 2 Reception Rooms Tenure: TBC 2 Reception Rooms Tenure: Freehold 1 Bathroom 1 Bathroom
Sedgley: 01902 686 868 Stourbridge: 01384 379450
LOT 38 LOT 41
Starting Bid: £120,000 Starting Bid: £110,000 134 Whitgreave Street 52 Heath Lane West Bromwich Stourbridge West Midlands West Midlands B70 9AY DY8 1RQ
Semi Detached House Garden & Parking End Terraced House Rear Garden 4 Bedrooms No Chain 2 Bedrooms Good Transport Links 1 Reception Room Tenure: Freehold 2 Reception Rooms Tenure: Freehold 1 Bathroom 1 Bathroom
Great Bridge: 0121 520 2255 Kinver: 01384 878000
LOT 39 LOT 42
Starting Bid: £100,000 Starting Bid: £195,000 51 Dimmocks Avenue 4 Wyndmill Crescent Bilston West Bromwich West Midlands West Midlands WV14 8YJ B71 3RB
Semi Detached House Off Road Parking Detached Bungalow Garage 3 Bedrooms Rear Garden 3 Bedrooms Gardens 1 Reception Room Tenure: Freehold 1 Reception Room EPC: D 1 Bathroom 1 Bathroom Tenure: Freehold
Bilston: 01902 353 578 West Bromwich: 01215885666
13 14
26 LOT 40
Starting Bid: £90,000 15 Collis Street Stourbridge West Midlands DY8 4EA
Terraced House No Chain 2 Bedrooms Rear Courtyard 2 Reception Rooms Tenure: Freehold 1 Bathroom
Stourbridge: 01384 379450
LOT 41
Starting Bid: £110,000 52 Heath Lane Stourbridge West Midlands DY8 1RQ
End Terraced House Rear Garden 2 Bedrooms Good Transport Links 2 Reception Rooms Tenure: Freehold 1 Bathroom
Kinver: 01384 878000
LOT 42
Starting Bid: £195,000 4 Wyndmill Crescent West Bromwich West Midlands B71 3RB
Detached Bungalow Garage 3 Bedrooms Gardens 1 Reception Room EPC: D 1 Bathroom Tenure: Freehold
West Bromwich: 01215885666
14
27 LOT 43 LOT 46
Starting Bid: £180,000 Starting Bid: £125,000 33 Sandringham Road Flat 3, 27 Listley Street Penn, Wolverhampton Bridgnorth West Midlands Shropshire WV4 5SY WV16 4AW
Semi Detached House Off Road Parking Apartment Double Glazing 3 Bedrooms Gardens 2 Bedrooms Gas Central Heating 2 Reception Rooms EPC: D 1 Reception Room EPC: D 1 Bathroom Tenure: Freehold 1 Bathroom Tenure: Freehold
Wolverhampton: 01902 427 257 Wolverhampton: 01902 771 511
LOT 44 LOT 47
Starting Bid: £160,000 Starting Bid: £145,000 Flat 1, 27 Listley Street Flat 4, 27 Listley Street Bridgnorth Bridgnorth Shropshire Shropshire WV16 4AW WV16 4AW
Other Double Glazing Apartment Double Glazing 3 Bedrooms Off Road Parking 3 Bedrooms Gas Central Heating 1 Reception Room EPC: D 1 Reception Room EPC: D 2 Bathrooms Tenure: Freehold 2 Bathrooms Tenure: Freehold
Wolverhampton: 01902 771 511 Wolverhampton: 01902 771 511
LOT 45 LOT 48
Starting Bid: £135,000 Starting Bid: £125,000 Flat 2, 27 Listley Street Flat 5, 27 Listley Street Bridgnorth Bridgnorth Shropshire Shropshire WV16 4AW WV16 4AW
Apartment Double Glazing Apartment Double Glazing 3 Bedrooms Gas Central Heating 3 Bedrooms Gas Central Heating 1 Reception Room EPC: D 1 Reception Room EPC: D 2 Bathrooms Tenure: Freehold 2 Bathrooms Tenure: Leasehold
Wolverhampton: 01902 771 511 Wolverhampton: 01902 771 511
15 16
28 LOT 46
Starting Bid: £125,000 Flat 3, 27 Listley Street Bridgnorth Shropshire WV16 4AW
Apartment Double Glazing 2 Bedrooms Gas Central Heating 1 Reception Room EPC: D 1 Bathroom Tenure: Freehold
Wolverhampton: 01902 771 511
LOT 47
Starting Bid: £145,000 Flat 4, 27 Listley Street Bridgnorth Shropshire WV16 4AW
Apartment Double Glazing 3 Bedrooms Gas Central Heating 1 Reception Room EPC: D 2 Bathrooms Tenure: Freehold
Wolverhampton: 01902 771 511
LOT 48
Starting Bid: £125,000 Flat 5, 27 Listley Street Bridgnorth Shropshire WV16 4AW
Apartment Double Glazing 3 Bedrooms Gas Central Heating 1 Reception Room EPC: D 2 Bathrooms Tenure: Leasehold
Wolverhampton: 01902 771 511
16
29 LOT 49
Starting Bid: £125,000 Flat 6, 27 Listley Street Bridgnorth Shropshire WV16 4AW
Apartment Double Glazing 3 Bedrooms Gas Central Heating 1 Reception Room EPC: D 2 Bathrooms Tenure: Freehold
Wolverhampton: 01902 771 511
NOTES
West Midlands Property Auction
17
30 SIGN UP to The West Midlands Property Auction
If you would like to sign up to our catalogue subscription service, please email [email protected].
You’ll receive email updates including auction date reminders, digital copies of our brochures, property promotions and links to useful resources if you’re interested in buying.
Terms & Conditions 5. If the Bidder wishes to withdraw or alter his instructions or to attend the Auction to bid it is their responsibility to Telephone or Proxy Bidding notify the Auctioneers in writing before the Auction. 1. A prospective buyer wishing to make a telephone or proxy bid (a “Bidder”) must complete, sign and date the 6. The Auctioneers shall not be liable for any failure to bid form within this catalogue. due to inadequate or unclear instructions being received or for any other reason. The Auctioneers have absolute Separate forms must be completed for each lot on which discretion as to whether or not and in what manner to bid. a bid is to be placed. 7. The Bidder is deemed to have full knowledge 2. The form must be delivered to The Auction of the General and Special Conditions of Sale and the Department, 6th Floor Arden House, Regent Centre, Notice to All Prospective Buyers herein. The Bidder is Gosforth, Newcastle upon Tyne, NE3 3LU also deemed to have full knowledge of any addendum produced by the Auctioneers at or prior to the Auction. 3. In the case of a telephone bid a member of the The Bidder is therefore advised to check whether any Auctioneers’ staff will attempt to contact the Bidder by relevant addendum has or will be produced but the telephone before the lot in question is offered for sale. If Auctioneers will not be liable to the Bidder if he fails to so contact is made the Bidder may compete in the bidding check. through the Auctioneers’ staff. However if telephone contact cannot be made or the connection is lost the Bidder hereby authorises the Auctioneers and their staff to bid on their behalf up to their maximum authorised bid for the lot in question.
Remember! If you’re not planning to attend 4. If the Bidder is successful the Bidder the auction, but would like to bid by proxy or hereby authorises the Auctioneers to sign the phone, you must fill and return the form in Memorandum of Agreement on their behalf. this catalogue or contact the West Midland Property Auction team to pre-register on: 0121 366 0539 [email protected]
31 MODERN METHOD OF AUCTION TERMS & CONDITIONS (V3.3)
Reservation Fee
These conditions govern the conduct of “conditional” or “modern method” auctions operated by IAM Sold Limited (Company or Auctioneer or us/we/our). All properties sold by auction using the Company website or by a physical auction which are expressed to be either a “conditional” or “modern method” auction are governed by these conditions.
A non-refundable reservation fee of 4.2% including VAT, subject to a minimum of £6,000 including VAT must be paid by the buyer immediately following the conclusion of the auction or acceptance of an offer. This must be paid by cleared funds to the Auctioneer who will issue an Acknowledgement of Reservation.
Introduction These 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 This section regulates the conduct of the auction. If you bid for a property which is offered for sale by conditional auction you do so on the basis that you accept them.
3. Conditions of reservation If you win a conditional auction for a property you must sign a reservation form under which you agree to be bound by the conditions of reservation relevant to that property. The conditions are legally binding.
Important notice A prudent buyer will, before bidding for a property: • Take professional advice from a conveyancer and, in appropriate cases, a chartered surveyor and an accountant. • Read the conditions. • Inspect the Buyer Information Pack for the relevant property. • Have finance available for the deposit and purchase price.
In addition, before buying a property a prudent buyer will: • Carry out usual searches and make usual enquiries. • Consider with the chosen mortgage provider that the property would be deemed suitable for mortgage lending purposes. • Check the content of all available leases and other documents relating to the property. • Check that what is said about the property in the Buyer Information Pack is accurate. • Check whether VAT registration and election is advisable.
The conditions assume that the buyer has acted like a prudent buyer. If you choose to buy a property without taking these normal precautions you do so at your own risk.
Glossary This glossary applies to the auction conduct conditions and the sale 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; • references to legislation are to that legislation as it may have been modified or re-enacted by the date of the auction or the contract date (as applicable); and • where the following words printed in bold type appear they have the specified meanings.
Approved financial institution Any bank or building society that has signed up to the Banking Code or Business Banking Code or is otherwise acceptable to us.
32 Auction The auction advertised as online or in the catalogue (as applicable).
Auction conduct conditions The conditions so headed, including any extra auction conduct conditions.
Auctioneers The auctioneers of the auction.
Buyer Information Pack The pack of documents relating to a property which is advertised online for conditional auction.
Business day Any day except (a) a Saturday or a Sunday; (b) a bank holiday in England and Wales; or (c) Good Friday or Christmas Day.
Buyer The person who agrees to buy the property or, if applicable, that person’s personal representatives. If two or more are jointly the buyer their obligations can be enforced against them jointly or against each of them separately.
Catalogue Any catalogue to which the conditions refer including any supplement to it.
Condition One of the auction conduct conditions or sales conditions.
Conditional auction A conditional or “modern method” of auction as described in these conditions.
Contract The contract by which the seller agrees to sell, and the Buyer agrees to buy the property.
Online On our website or, where applicable, one of our accredited partner’s websites.
Property Each separate property described in the catalogue or as the case may be online.
Price The price that the buyer agrees to pay for the property.
Reservation Deposit A non-refundable deposit paid by the buyer to us to reserve a property. This deposit is used by the seller to pay our fees for conducting the conditional auction.
Reservation Fee A non-refundable fee paid by the buyer to us to reserve a property. This is in payment of our fees for conducting the conditional auction.
Reservation Form The form of contract which is to be signed by a buyer and by us (on behalf of the seller) reserving the property for sale by the seller to the buyer as further described in the conditions of reservation. Seller The person selling the property. If two or more are jointly the seller their obligations can be enforced against them jointly or against each of them separately.
We (and us and our) The auctioneers.
You (and your) Someone who bids on an auction, whether or not a buyer.
33 A1 Auction Conduct Conditions
A1 Introduction A1.1 Words in bold type have specified meanings, which are defined in the Glossary. A1.2 Where a property is advertised for auction: (a) online, you have been given access to that auction only on the basis that you accept these auction conduct conditions; (b) in a catalogue, you are only issued that catalogue on the basis that you accept these auction conduct conditions, which govern our relationship with you and cannot be disapplied or varied by the sale conditions (even by a condition purporting to replace the whole of the Conditional Auction Conditions). They can be varied only if we agree.
A2 Our role A2.1 As agents for each seller we have authority to: (a) prepare the catalogue (as applicable) from information supplied by or on behalf of each seller; (b) offer each property for sale by conditional auction; Page 1 of 3 V3.3 (c) receive and hold reservation deposits (if applicable); (d) receive reservation fees (if applicable); (e) sign each reservation form on behalf of each seller; and (f) treat a reservation form as repudiated if the buyer fails to sign that reservation form or pay a reservation fee or reservation deposit (as applicable). A2.2. Our decision on the conduct of the conditional auction is final. A2.3 We may cancel the conditional auction, or change the way in which a property is offered for sale. We may also combine or divide properties. A property may be sold or withdrawn from sale prior to the conditional auction. A2.4 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.
A3 Bidding and reserve prices A3.1 All bids are to be made in pounds sterling exclusive of any applicable VAT. A3.2 We may refuse to accept a bid. We do not have to explain why. A3.3 All bids made online must comply with the terms and conditions which apply to use of our website or to the use of our partner’s websites (as applicable). A3.4 if there is a dispute over bidding we are entitled to resolve it, and our decision is final. A3.5 Unless stated otherwise each property is subject to a reserve price (which may be fixed just before the property is offered for sale). If no bid equals or exceeds that reserve price the property will be withdrawn from the conditional auction. A3.6 Where there is a reserve price 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. You accept that it is possible that all bids up to the reserve price are bids made by or on behalf of the seller. A3.7 Where a guide price (or range of prices) is given that guide is the minimum price at which, or range of prices within which, the seller might be prepared to sell at the date of the guide price. But guide prices may change. The last published guide price will normally be at or above any reserve price, but not always – as the seller may fix the final reserve price just before bidding commences.
A4 The Buyer Information Pack and other information A4.1 We have taken reasonable care to describe each property (either online or in a catalogue). The description of a property is based on information supplied by or on behalf of the seller. You need to check that the information is correct. A4.2 The description of a property and the Buyer Information Pack may change prior to the conditional auction and it is your responsibility to check that you have the correct versions. A4.3 If we provide information, or a copy of a document, provided by others we do so only on the basis that we are not responsible for the accuracy of that information or document.
A5 the reservation agreement A5.1 A successful bid is one we accept as such (normally on the fall of the hammer or close of an auction online). This condition A5 applies to you if you make the successful bid for a property. A5.2 You are required to enter into a reservation agreement which obliges you to proceed to purchase the property at the price you bid plus VAT (if applicable). A5.3 You must: (a) provide all information we reasonably need from you to enable us to complete the reservation form (including proof of your identity and address if required by us); (b) sign the completed reservation form; and
34 (c) pay the reservation fee or reservation deposit (as required by the reservation form). A5.4 If you do not we may either: (a) as agent for the seller treat that failure as your repudiation of the reservation form and offer the property for sale again. The seller may then have a claim against you for breach of contract; or (b) sign the reservation form on your behalf. A5.5 Where a reservation deposit is paid, that reservation deposit: (a) is to be held by us as agent for the seller, but otherwise is to be held as stated in the reservation conditions; and (b) must be paid in pounds sterling either by credit/debit card or by way of a bank transfer made payable to us from an approved financial institution. Please note, we are not able to accept payments made in cash or accept Bank Transfers where the deposit for the transfer was paid in cash. A5.6 We may retain the reservation form signed by or on behalf of the seller until the reservation deposit or reservation fee (as applicable) has been received in cleared funds. A5.7 If you do not comply with your obligations under the reservation form then you are personally liable to comply with the obligations under the reservation form even if you are acting as an agent for the buyer. A5.8 Where the buyer is a company, you warrant that the buyer is properly constituted and able to buy the property.
Reservation Conditions
R1 Introduction R1.1 Words in bold type have specified meanings, which are defined in the Glossary. R1.2 Where you win a conditional auction for a property you must sign a reservation form, which is a legally binding contract between the buyer and seller reserving the property for purchase by the buyer within 2 hours of the winning bid being accepted and the auction ending. R.1.3 These reservation conditions summarise the terms of the reservation form.
R2 Payment of reservation fee R2.1 This condition applies where a reservation fee must be paid by you on winning a conditional auction for a property. Payment is to be made within 2 hours of the winning bid being accepted and the auction ending. R2.2 Conditional upon payment of the reservation fee and you signing the reservation form, the property shall be reserved to the buyer for the reservation period stated in that reservation form, this is the period in which time the buyer is to exchange contracts to purchase the property.
R3 Payment of reservation deposit R3.1 This condition applies where a reservation deposit must be paid by you on winning a conditional auction for a property. Payment is to be made within 2 hours of the winning bid being accepted and the auction ending. R3.2 The reservation deposit is to be held by us and, following formal exchange of contracts for the sale and purchase of the property, transferred to the seller’s solicitors as part payment of the purchase price under the contract for the purchase of the property.
R4 Seller’s obligations R4.1 On the reservation form being signed and either reservation fee or reservation deposit being paid, the seller will grant to the buyer a period of exclusivity. R4.2 During the exclusivity period the seller agrees: (a) he or she has instructed us not to agree another reservation of the property; (b) not to encumber or deal with the title to the property; (c) not to send, instruct or allow anyone else to send any contract for sale of the property to anyone other than the buyer’s solicitors; (d) to give such access to the property as may be reasonably required by any surveyor or valuer appointed by the buyer; (e) not to give access to any other person to view the property nor negotiate with anyone other than the buyer any terms for the sale of the property; (f) to use all reasonable endeavours to proceed to a formal exchange of contracts within the exclusivity period; (g) to supply all documentation, information and authority to enable the seller’s solicitors to draft and negotiate the sale and purchase contract and do all work necessary to enable contracts for sale of the Property to be exchangedand completed within the exclusivity period; (h) to immediately instruct the seller’s solicitors to issue a contract for the sale of the property to the buyer’s solicitors and to do all other work required to enable contracts for the sale of the property to be exchanged within the exclusivity period. R4.3 The seller may (but shall not be obliged to) grant an extension of the exclusivity period stated in the reservation form. Any such extension shall be confirmed in writing.
35 R5 Buyer’s obligations
R5.1 The buyer agrees: (a) to proceed to a formal exchange of contracts and completion within the exclusivity period; (b) to immediately instruct the Buyer’s solicitors to investigate title to the Property, negotiate the draft contract for the purchase of the Property, raise enquiries of the Seller and any third parties about the Property and do any other work required to enable contracts for the purchase of the Property to be exchanged and for completion to take place, within the exclusivity period; (c) to promptly: (i) if the buyer intends to use a loan in connection with the purchase of the property, the buyer shall apply to the relevant lender and complete all necessary documentation and do all such things as such lender may require to process the buyer’s application as soon as possible including the payment of any application fees; (ii) if the buyer or the buyer’s mortgagee or lender requires that the property is surveyed and/or valued, the buyer will use all reasonable endeavours to arrange for the survey and/or valuation to take place at the property as soon as reasonably practicable including the payment of any valuation fee; (iii) keep the auctioneer and the seller’s solicitors advised of progress with the application for the loan; (d) Within 5 working days of receiving draft contracts from the seller’s solicitor, the buyer must ensure that their nominated solicitor has raised initial enquiries in relation to the draft contract, in writing with the seller’s solicitor. If this has not been undertaken, the seller reserves the absolute right to re-offer the property for sale free of any obligation to the buyer. In this event the Reservation Fee is deemed non-refundable. (e) the date of completion shall be specified in the contract exchanged for the purchase of the Property, but such date shall be no later than 56 days from the date the draft contract was received by the Buyer’s solicitor; (f) the buyer shall pay to the auctioneer the cost of the preparation of the Buyer Information Pack relating to the property; (g) buyer has received the Buyer Information Pack (if applicable) and is ready willing and able to proceed with the purchase of the property; (h) the buyer agrees that if contracts for the purchase of the property have not been legally and unconditionally exchanged within the exclusivity period the seller has the absolute right to re-offer the property for sale free of any obligation to the buyer.
R6 Termination of reservation R6.1 The reservation form shall not be capable of termination by the seller or buyer during the exclusivity period except as specified below. R6.2 On the expiry of the exclusivity period specified in the reservation form (or the expiry of any extension granted by the Seller in writing) if the Buyer has not completed the purchase of the Property, the reservation of the Property shall terminate at the discretion of the auctioneer. R6.3 The seller may terminate the reservation of the property with written notice to the buyer if the buyer is in breach of the buyer’s obligations set out above.
R7 Binding obligations R7.1 These conditions of reservation must be read in conjunction with the reservation form applicable to a particular property. Where there is any conflict or inconsistency between these conditions and the provisions of an individual reservation form, the relevant provisions of the reservation form shall apply. R7.2 As these conditions and the reservation form comprises legally binding obligations on you, it is recommended you seek independent legal advice on these conditions and the reservation form before making any bid on a property.
R8 Auctioneer R8.1 You acknowledge and agree that we act as an agent of the seller and not in our own capacity. R8.2 Save in the event of fraud or death or personal injury resulting from our negligence, neither the us nor any of our group companies, affiliates, third party service providers, licensors, officers, directors or employees shall have any liability of any nature howsoever arising in relation to these conditions or to any property.
36 Traditional Auction Terms and Conditions
Reservation Fee
General Note: The general conditions (including any extra general conditions) apply to the contract except to the extent that they are varied by special conditions or by an addendum. It is hereby agreed between the parties as follows: The buyer shall pay in addition to the balance of the purchase price and Reservation Fee / Deposit, the cost of the Searches of £200 to include a local authority, water and drainage search. The buyer agrees to make payment for the Searches with the Reservation Fee / Deposit at the point of agreeing the purchase of the subject property.
G1. The lot These conditions have three main sections.
G1.1 The lot (including any rights to be granted or reserved, and any exclusions from it) is described in the special conditions, or if not so described the lot is that referred to in the sale memorandum. G1.2 The lot is sold subject to any tenancies disclosed by the special conditions, but otherwise with vacant possession on completion. G1.3 The lot is sold subject to all matters contained or referred to in the documents, but excluding any financial charges: these the seller must discharge on or before completion. G1.4 The lot is also sold subject to such of the following as may affect it, whether they arise before or after the contract date and whether or not they are disclosed by the seller or are apparent from inspection of the lot or from the documents: (a) matters registered or capable of registration as local and charges; (b) matters registered or capable of registration by any competent authority or under the provisions of any statute; (c) notices, orders, demands, proposals and requirements of any competent authority; (d) charges, notices, orders, restrictions, agreements and other matters relating to town and country planning, highways or public health; (e) rights, easements, quasi-easements, and way leaves; (f) outgoings and other liabilities; (g) any interest which overrides, within the meaning of the Land Registration Act 2002; (h) matters that ought to be disclosed by the searches and enquiries a prudent buyer would make, whether or not the buyer has made them; and (i) anything the seller does not and could not reasonably know about. G1.5 Where anything subject to which the lot is sold would expose the seller to liability the buyer is to comply with it and indemnify the seller against that liability. G1.6 The seller must notify the buyer of any notices, orders, demands, proposals and requirements of any competent authority of which it learns after the contract date but the buyer must comply with them and keep the seller indemnified. G1.7 The lot does not include any tenant’s or trade fixtures or fittings. G1.8 Where chattels are included in the lot the buyer takes them as they are at completion and the seller is not liable if they are not fit for use. G1.9 The buyer buys with full knowledge of: (a) the documents, whether or not the buyer has read them; and (b) the physical condition of the lot and what could reasonably be discovered on inspection of it, whether or not the buyer has inspected it. G1.10 The buyer is not to rely on the information contained in the particulars but may rely on the seller’s conveyancer’s written replies to preliminary enquiries to the extent stated in those replies.
G2. Deposit G2.1 The amount of the deposit is the greater of: (a) any minimum deposit stated in the auction conduct conditions (or the total price, if this is less than that minimum); and
37 (b) 10% of the price (exclusive of any VAT on the price). G2.2 The deposit (a) must be paid in pounds sterling by cheque or banker’s draft drawn on an approved financial institution (or by any other means of payment that the auctioneers may accept); and (b) is to be held as stakeholder unless the auction conduct conditions provide that it is to be held as agent for the seller. G2.3 Where the auctioneers hold the deposit as stakeholder they are authorised to release it (and interest on it if applicable) to the seller on completion or, if completion does not take place, to the person entitled to it under the sale conditions. G2.4 If a cheque for all or part of the deposit is not cleared on first presentation the seller may treat the contract as at an end and bring a claim against the buyer for breach of contract. G2.5 Interest earned on the deposit belongs to the seller unless the sale conditions provide otherwise.
G3. Between contract and completion
G3.1 Unless the special conditions state otherwise, the seller is to insure the lot from and including the contract date to completion and: (a) produce to the buyer on request all relevant insurance details; (b) pay the premiums when due; (c) if the buyer so requests, and pays any additional premium, use reasonable endeavors to increase the sum insured or make other changes to the policy; (d) at the request of the buyer use reasonable endeavors to have the buyer’s interest noted on the policy if it does not cover a contracting purchaser; (e) unless otherwise agreed, cancel the insurance at completion, apply for a refund of premium and (subject to the rights of any tenant or other third party) pay that refund to the buyer; and (f) (subject to the rights of any tenant or other third party) hold on trust for the buyer any insurance payments that the seller receives in respect of loss or damage arising after the contract date or assign to the buyer the benefit of any claim; and the buyer must on completion reimburse to the seller the cost of that insurance (to the extent not already paid by the buyer or a tenant or other third party) for the period from and including the contract date to completion. G3.2 No damage to or destruction of the lot nor any deterioration in its condition, however caused, entitles the buyer to any reduction in price, or to delay completion, or to refuse to complete. G3.3 Section 47 of the Law of Property Act 1925 does not apply. G3.4 Unless the buyer is already lawfully in occupation of the lot the buyer has no right to enter into occupation prior to completion.
G4. Title and identity
G4.1 Unless condition G4.2 applies, the buyer accepts the title of the seller to the lot as at the contract date and may raise no requisition or objection except in relation to any matter that occurs after the contract date. G4.2 If any of the documents is not made available before the auction the following provisions apply: (a) The buyer may raise no requisition on or objection to any of the documents that is made available before the auction. (b) If the lot is registered land the seller is to give to the buyer within five business days of the contract date an official copy of the entries on the register and title plan and, where noted on the register, of all documents subject to which the lot is being sold. 38 (c) If the lot is not registered land the seller is to give to the buyer within five business days an abstract or epitome of title starting from the root of title mentioned in the special conditions (or, if none is mentioned, a good root of title more than fifteen years old) and must produce to the buyer the original or an examined copy of every relevant document. (d) If title is in the course of registration, title is to consist of certified copies of: (i) the application for registration of title made to the land registry; (ii) the documents accompanying that application; (iii) evidence that all applicable stamp duty land tax relating to that application has been paid; and (iv) a letter under which the seller or its conveyancer agrees to use all reasonable endeavors to answer any requisitions raised by the land registry and to instruct the land registry to send the completed registration documents to the buyer. (e) The buyer has no right to object to or make requisitions on any title information more than seven business days after that information has been given to the buyer. G4.3 Unless otherwise stated in the special conditions the seller sells with full title guarantee except that (and the transfer shall so provide): (a) the covenant set out in section 3 of the Law of Property (Miscellaneous Provisions) Act 1994 shall not extend to matters recorded in registers open to public inspection; these are to be treated as within the actual knowledge of the buyer; and (b) the covenant set out in section 4 of the Law of Property (Miscellaneous Provisions) Act 1994 shall not extend to any condition or tenant’s obligation relating to the state or condition of the lot where the lot is leasehold property. G4.4 The transfer is to have effect as if expressly subject to all matters subject to which the lot is sold under the contract. G4.5 The seller does not have to produce, nor may the buyer object to or make a requisition in relation to, any prior or superior title even if it is referred to in the documents. G4.6 The seller (and, if relevant, the buyer) must produce to each other such confirmation of, or evidence of, their identity and that of their mortgagees and attorneys (if any) as is necessary for the other to be able to comply with applicable Land Registry Rules when making application for registration of the transaction to which the conditions apply.
G5. Transfer
G5.1 Unless a form of transfer is prescribed by the special conditions: (a) the buyer must supply a draft transfer to the seller at least ten business days before the agreed completion date and the engrossment (signed as a deed by the buyer if condition G5.2 applies) five business days before that date or (if later) two business days after the draft has been approved by the seller; and (b) the seller must approve or revise the draft transfer within five business days of receiving it from the buyer. G5.2 If the seller remains liable in any respect in relation to the lot (or a tenancy) following completion the buyer is specifically to covenant in the transfer to indemnify the seller against that liability. G5.3 The seller cannot be required to transfer the lot to anyone other than the buyer, or by more than one transfer.
G6. Completion
G6.1 Completion is to take place at the offices of the seller’s conveyancer, or where the seller may reasonably require, on the agreed completion date. The seller can only be required to complete on a business day and between the hours of 0930 and 1700. G6.2 The amount payable on completion is the balance of the price adjusted to take account of apportionments plus (if 39 applicable) VAT and interest. G6.3 Payment is to be made in pounds sterling and only by: (a) direct transfer to the seller’s conveyancer’s client account; and (b) the release of any deposit held by a stakeholder. G6.4 Unless the seller and the buyer otherwise agree, completion cannot take place until both have complied with their obligations under the contract and the balance of the price is unconditionally received in the seller’s conveyancer’s client account. G6.5 If completion takes place after 1400 hours for a reason other than the seller’s default it is to be treated, for the purposes of apportionment and calculating interest, as if it had taken place on the next business day. G6.6 Where applicable the contract remains in force following completion.
G7. Notice to complete
G7.1 The seller or the buyer may on or after the agreed completion date but before completion give the other notice to complete within ten business days (excluding the date on which the notice is given) making time of the essence. G7.2 The person giving the notice must be ready to complete. G7.3 If the buyer fails to comply with a notice to complete the seller may, without affecting any other remedy the seller has: (a) terminate the contract; (b) claim the deposit and any interest on it if held by a stakeholder; (c) forfeit the deposit and any interest on it; (d) resell the lot; and (e) claim damages from the buyer. G7.4 If the seller fails to comply with a notice to complete the buyer may, without affecting any other remedy the buyer has: (a) terminate the contract; and (b) recover the deposit and any interest on it from the seller or, if applicable, a stakeholder.
G8. If the contract is brought to an end
If the contract is lawfully brought to an end: (a) the buyer must return all papers to the seller and appoints the seller its agent to cancel any registration of the contract; and (b) the seller must return the deposit and any interest on it to the buyer (and the buyer may claim it from the stakeholder, if applicable) unless the seller is entitled to forfeit the deposit under condition G7.3.
G9. Landlord’s licence
G9.1 Where the lot is or includes leasehold land and license to assign is required this condition G9 applies. G9.2 The contract is conditional on that license being obtained, by way of formal license if that is what the landlord lawfully requires. G9.3 The agreed completion date is not to be earlier than the date five business days after the seller has given notice to the buyer that license has been obtained. G9.4 The seller must: (a) use all reasonable endeavours to obtain the license at the seller’s expense; and (b) enter into any authorised guarantee agreement properly required. G9.5 The buyer must: (a) promptly provide references and other relevant information; and (b) comply with the landlord’s lawful requirements. G9.6 If within three months of the contract date (or such longer period as the seller and buyer agree) the license has not been obtained the seller or the buyer may (if not then in breach of any obligation under this condition G9) by notice to the other terminate the contract at any time before license is obtained. That termination is without prejudice to the claims of either seller or buyer for breach of this condition G9.
G10. Interest and apportionments 40 G10.1 If the actual completion date is after the agreed completion date for any reason other than the seller’s default the buyer must pay interest at the interest rate on the price (less any deposit paid) from the agreed completion date up to and including the actual completion date. G10.2 Subject to condition G11 the seller is not obliged to apportion or account for any sum at completion unless the seller has received that sum in cleared funds. The seller must pay to the buyer after completion any sum to which the buyer is entitled that the seller subsequently receives in cleared funds. G10.3 Income and outgoings are to be apportioned at actual completion date unless: (a) the buyer is liable to pay interest; and (b) the seller has given notice to the buyer at any time up to completion requiring apportionment on the date from which interest becomes payable by the buyer; in which event income and outgoings are to be apportioned on the date from which interest becomes payable by the buyer. G10.4 Apportionments are to be calculated on the basis that: (a) the seller receives income and is liable for outgoings for the whole of the day on which apportionment is to be made; (b) annual income and expenditure accrues at an equal daily rate assuming 365 days in a year, and income and expenditure relating to some other period accrues at an equal daily rate during the period to which it relates; and (c) where the amount to be apportioned is not known at completion apportionment is to be made by reference to a reasonable estimate and further payment is to be made by seller or buyer as appropriate within five business days of the date when the amount is known.
G11. Arrears
Part 1 Current rent
G11.1 “Current rent” means, in respect of each of the tenancies subject to which the lot is sold, the installment of rent and other sums payable by the tenant in advance on the most recent rent payment date on or within four months preceding completion. G11.2 If on completion there are any arrears of current rent the buyer must pay them, whether or not details of those arrears are given in the special conditions. G11.3 Parts 2 and 3 of this condition G11 do not apply to arrears of current rent.
Part 2 Buyer to pay for arrears
G11.4 Part 2 of this condition G11 applies where the special conditions give details of arrears. G11.5 The buyer is on completion to pay, in addition to any other money then due, an amount equal to all arrears of which details are set out in the special conditions. G11.6 If those arrears are not old arrears the seller is to assign to the buyer all rights that the seller has to recover those arrears.
Part 3 Buyer not to pay for arrears
G11.7 Part 3 of this condition G11 applies where the special conditions: (a) so state; or (b) give no details of any arrears. G11.8 While any arrears due to the seller remain unpaid the buyer must: (a) try to collect them in the ordinary course of management but need not take legal proceedings or forfeit the tenancy; (b) pay them to the seller within five business days of receipt in cleared funds (plus interest at the interest rate calculated on a daily basis for each subsequent day’s delay in payment); (c) on request, at the cost of the seller, assign to the seller or as the seller may direct the right to demand and sue for old arrears, such assignment to be in such form as the seller’s conveyancer may reasonably require; (d) if reasonably required, allow the seller’s conveyancer to have on loan the counterpart of any tenancy against an undertaking to hold it to the buyer’s order; (e) not without the consent of the seller release any tenant or surety from liability to pay arrears or accept a surrender of 41 or forfeit any tenancy under which arrears are due; and (f) if the buyer disposes of the lot prior to recovery of all arrears obtain from the buyer’s successor in title a covenant in favour of the seller in similar form to part 3 of this condition G11. G11.9 Where the seller has the right to recover arrears it must not without the buyer’s written consent bring insolvency proceedings against a tenant or seek the removal of goods from the lot.
G12. Management
G12.1 This condition G12 applies where the lot is sold subject to tenancies. G12.2 The seller is to manage the lot in accordance with its standard management policies pending completion. G12.3 The seller must consult the buyer on all management issues that would affect the buyer after completion (such as, but not limited to, an application for license; a rent review; a variation, surrender, agreement to surrender or proposed forfeiture of a tenancy; or a new tenancy or agreement to grant a new tenancy) and: (a) the seller must comply with the buyer’s reasonable requirements unless to do so would (but for the indemnity in paragraph (c)) expose the seller to a liability that the seller would not otherwise have, in which case the seller may act reasonably in such a way as to avoid that liability; (b) if the seller gives the buyer notice of the seller’s intended act and the buyer does not object within five business days giving reasons for the objection the seller may act as the seller intends; and (c) the buyer is to indemnify the seller against all loss or liability the seller incurs through acting as the buyer requires, or by reason of delay caused by the buyer.
G13. Rent deposits
G13.1 This condition G13 applies where the seller is holding or otherwise entitled to money by way of rent deposit in respect of a tenancy. In this condition G13 “rent deposit deed” means the deed or other document under which the rent deposit is held. G13. 2 If the rent deposit is not assignable the seller must on completion hold the rent deposit on trust for the buyer and, subject to the terms of the rent deposit deed, comply at the cost of the buyer with the buyer’s lawful instructions. G13.3 Otherwise the seller must on completion pay and assign its interest in the rent deposit to the buyer under an assignment in which the buyer covenants with the seller to: (a) observe and perform the seller’s covenants and conditions in the rent deposit deed and indemnify the seller in respect of any breach; (b) give notice of assignment to the tenant; and (c) give such direct covenant to the tenant as may be required by the rent deposit deed.
G14. VAT
G14.1 Where a sale condition requires money to be paid or other consideration to be given, the payer must also pay any VAT that is chargeable on that money or consideration, but only if given a valid VAT invoice. G14.2 Where the special conditions state that no VAT option has been made the seller confirms that none has been made by it or by any company in the same VAT group nor will be prior to completion.
G15. Transfer as a going concern
G15.1 Where the special conditions so state: (a) the seller and the buyer intend, and will take all practicable steps (short of an appeal) to procure, that the sale is treated as a transfer of a going concern; and (b) this condition G15 applies. G15.2 The seller confirms that the seller: (a) is registered for VAT, either in the seller’s name or as a member of the same VAT group; and (b) has (unless the sale is a standard-rated supply) made in relation to the lot a VAT option that remains valid and will not be revoked before completion. G15.3 The buyer confirms that: 42 (a) it is registered for VAT, either in the buyer’s name or as a member of a VAT group; (b) it has made, or will make before completion, a VAT option in relation to the lot and will not revoke it before or within three months after completion; (c) article 5(2B) of the Value Added Tax (Special Provisions) Order 1995 does not apply to it; and (d) it is not buying the lot as a nominee for another person. G15.4 The buyer is to give to the seller as early as possible before the agreed completion date evidence: (a) of the buyer’s VAT registration; (b) that the buyer has made a VAT option; and (c) that the VAT option has been notified in writing to HM Revenue and Customs; and if it does not produce the relevant evidence at least two business days before the agreed completion date, condition G14.1 applies at completion. G15.5 The buyer confirms that after completion the buyer intends to: (a) retain and manage the lot for the buyer’s own benefit as a continuing business as a going concern subject to and with the benefit of the tenancies; and (b) collect the rents payable under the tenancies and charge VAT on them as a result. G15.6 If, after completion, it is found that the sale of the lot is not a transfer of a going concern then: (a) the seller’s conveyancer is to notify the buyer’s conveyancer of that finding and provide a VAT invoice in respect of the sale of the lot; (b) the buyer must within five business days of receipt of the VAT invoice pay to the seller the VAT due; and (c) if VAT is payable because the buyer has not complied with this condition G15, the buyer must pay and indemnify the seller against all costs, interest, penalties or surcharges that the seller incurs as a result. G16. Capital allowances
G16.1 This condition G16 applies where the special conditions state that there are capital allowances available in respect of the lot. G16.2 The seller is promptly to supply to the buyer all information reasonably required by the buyer in connection with the buyer’s claim for capital allowances. G16.3 The value to be attributed to those items on which capital allowances may be claimed is set out in the special conditions. G16.4 The seller and buyer agree: (a) to make an election on completion under Section 198 of the Capital Allowances Act 2001 to give effect to this condition G16; and (b) to submit the value specified in the special conditions to HM Revenue and Customs for the purposes of their respective capital allowance computations.
G17. Maintenance agreements
G17.1 The seller agrees to use reasonable endeavours to transfer to the buyer, at the buyer’s cost, the benefit of the maintenance agreements specified in the special conditions. G17.2 The buyer must assume, and indemnify the seller in respect of, all liability under such contracts from the actual completion date.
G18. Landlord and Tenant Act 1987
G18.1 This condition G18 applies where the sale is a relevant disposal for the purposes of part I of the Landlord and Tenant Act 1987. G18.2 The seller warrants that the seller has complied with sections 5B and 7 of that Act and that the requisite majority of qualifying tenants has not accepted the offer.
G19. Sale by practitioner
G19.1 This condition G19 applies where the sale is by a practitioner either as seller or as agent of the seller. G19.2 The practitioner has been duly appointed and is empowered to sell the lot. 43 G19.3 Neither the practitioner nor the firm or any member of the firm to which the practitioner belongs has any personal liability in connection with the sale or the performance of the seller’s obligations. The transfer is to include a declaration excluding that personal liability. G19.4 The lot is sold: (a) in its condition at completion; (b) for such title as the seller may have; and (c) with no title guarantee; and the buyer has no right to terminate the contract or any other remedy if information provided about the lot is inaccurate, incomplete or missing. G19.5 Where relevant: (a) the documents must include certified copies of those under which the practitioner is appointed, the document of appointment and the practitioner’s acceptance of appointment; and (b) the seller may require the transfer to be by the lender exercising its power of sale under the Law of Property Act 1925. G19.6 The buyer understands this condition G19 and agrees that it is fair in the circumstances of a sale by a practitioner.
G20. TUPE
G20.1 If the special conditions state “There are no employees to which TUPE applies”, this is a warranty by the seller to this effect. G20.2 If the special conditions do not state “There are no employees to which TUPE applies” the following paragraphs apply: (a) The seller must notify the buyer of those employees whose contracts of employment will transfer to the buyer on completion (the “Transferring Employees”). This notification must be given to the buyer not less than 14 days before completion. (b) The buyer confirms that it will comply with its obligations under TUPE and any special conditions in respect of the Transferring Employees. (c) The buyer and the seller acknowledge that pursuant and subject to TUPE, the contracts of employment between the Transferring Employees and the seller will transfer to the buyer on completion. (d) The buyer is to keep the seller indemnified against all liability for the Transferring Employees after completion.
G21. Environmental
G21.1 This condition G21 only applies where the special conditions so provide. G21.2 The seller has made available such reports as the seller has as to the environmental condition of the lot and has given the buyer the opportunity to carry out investigations (whether or not the buyer has read those reports or carried out any investigation) and the buyer admits that the price takes into account the environmental condition of the lot. G21.3 The buyer agrees to indemnify the seller in respect of all liability for or resulting from the environmental condition of the lot.
G22. Service Charge
G22.1 This condition G22 applies where the lot is sold subjectto tenancies that include service charge provisions. G22.2 No apportionment is to be made at completion in respect of service charges. G22.3 Within two months after completion the seller must provide to the buyer a detailed service charge account for the service charge year current on completion showing: (a) service charge expenditure attributable to each tenancy; (b) payments on account of service charge received from each tenant; (c) any amounts due from a tenant that have not been received; (d) any service charge expenditure that is not attributable to any tenancy and is for that reason irrecoverable. G22.4 In respect of each tenancy, if the service charge account shows that: (a) payments on account (whether received or still then due from a tenant) exceed attributable service charge expenditure, the seller must pay to the buyer an amount equal to the excess when it provides the service charge 44 account; (b) attributable service charge expenditure exceeds payments on account (whether those payments have been received or are still then due), the buyer must use all reasonable endeavors to recover the shortfall from the tenant at the next service charge reconciliation date and pay the amount so recovered to the seller within five business days of receipt in cleared funds; but in respect of payments on account that are still due from a tenant condition G11 (arrears) applies. G22.5 In respect of service charge expenditure that is not attributable to any tenancy the seller must pay the expenditure incurred in respect of the period before actual completion date and the buyer must pay the expenditure incurred in respect of the period after actual completion date. Any necessary monetary adjustment is to be made within five business days of the seller providing the service charge account to the buyer. G22.6 If the seller holds any reserve or sinking fund on account of future service charge expenditure or a depreciation fund: (a) the seller must pay it (including any interest earned on it) to the buyer on completion; and (b) the buyer must covenant with the seller to hold it in accordance with the terms of the tenancies and to indemnify the seller if it does not do so.
G23. Rent reviews
G23.1 This condition G23 applies where the lot is sold subject to a tenancy under which a rent review due on or before the actual completion date has not been agreed or determined. G23.2 The seller may continue negotiations or rent review proceedings up to the actual completion date but may not agree the level of the revised rent or commence rent review proceedings without the written consent of the buyer, such consent not to be unreasonably withheld or delayed. G23.3 Following completion the buyer must complete ren review negotiations or proceedings as soon as reasonably practicable but may not agree the level of the revised rent without the written consent of the seller, such consent not to be unreasonably withheld or delayed. G23.3 Following completion the buyer must complete ren review negotiations or proceedings as soon as reasonably practicable but may not agree the level of the revised rent without the written consent of the seller, such consent not to be unreasonably withheld or delayed. G23.4 The seller must promptly: (a) give to the buyer full details of all rent review negotiations and proceedings, including copies of all correspondence and other papers; and (b) use all reasonable endeavours to substitute the buyer for the seller in any rent review proceedings. G23.5 The seller and the buyer are to keep each other informed of the progress of the rent review and have regard to any proposals the other makes in relation to it. G23.6 When the rent review has been agreed or determined the buyer must account to the seller for any increased rent and interest recovered from the tenant that relates to the seller’s period of ownership within five business days of receipt of cleared funds. G23.7 If a rent review is agreed or determined before completion but the increased rent and any interest recoverable from the tenant has not been received by completion the increased rent and any interest recoverable is to be treated as arrears. G23.8 The seller and the buyer are to bear their own costs in relation to rent review negotiations and proceedings.
G24. Tenancy renewals
G24.10 This condition G24 applies where the tenant under a tenancy has the right to remain in occupation under part II of the Landlord and Tenant Act 1954 (as amended) and references to notices and proceedings are to notices and proceedings under that Act. G24.20 Where practicable, without exposing the seller to liability or penalty, the seller must not without the written consent of the buyer (which the buyer must not unreasonably withhold or delay) serve or respond to any notice or begin or continue any proceedings. G24.30 If the seller receives a notice the seller must send a copy to the buyer within five business days and act as the 45 buyer reasonably directs in relation to it. G24.4 Following completion the buyer must: (a) with the co-operation of the seller take immediate steps to substitute itself as a party to any proceedings; (b) use all reasonable endeavours to conclude any proceedings or negotiations for the renewal of the tenancy and the determination of any interim rent as soon as reasonably practicable at the best rent or rents reasonably obtainable; and (c) if any increased rent is recovered from the tenant (whether as interim rent or under the renewed tenancy) account to the seller for the part of that increase that relates to the seller’s period of ownership of the lot within five business days of receipt of cleared funds. G24.5 The seller and the buyer are to bear their own costs in relation to the renewal of the tenancy and any proceedings relating to this.
G25. Warranties
G25.1 Available warranties are listed in the special conditions. G25.2 Where a warranty is assignable the seller must: (a) on completion assign it to the buyer and give notice of assignment to the person who gave the warranty; and (b) apply for (and the seller and the buyer must use all reasonable endeavours to obtain) any consent to assign that is required. If consent has not been obtained by completion the warranty must be assigned within five business days after the consent has been obtained. G25.3 If a warranty is not assignable the seller must after completion: (a) hold the warranty on trust for the buyer; and (b) at the buyer’s cost comply with such of the lawful instructions of the buyer in relation to the warranty as do not place the seller in breach of its terms or expose the seller to any liability or penalty.
G26. No assignment
The buyer must not assign, mortgage or otherwise transfer or part with the whole or any part of the buyer’s interest under this contract.
G27. Registration at the Land Registry\
G27.1 This condition G27.1 applies where the lot is leasehold and its sale either triggers first registration or is a registrable disposition. The buyer must at its own expense and as soon as practicable: (a) procure that it becomes registered at Land Registry as proprietor of the lot; (b) procure that all rights granted and reserved by the lease under which the lot is held are properly noted against the affected titles; and (c) provide the seller with an official copy of the register relating to such lease showing itself registered as proprietor. G27.2 This condition G27.2 applies where the lot comprises part of a registered title. The buyer must at its own expense and as soon as practicable: (a) apply for registration of the transfer; (b) provide the seller with an official copy and title plan for the buyer’s new title; and (c) join in any representations the seller may properly make to Land Registry relating to the application.
46 G28. Notices and other communications
G28.1 All communications, including notices, must be in writing. Communication to or by the seller or the buyer may be given to or by their conveyancers. G28.2 A communication may be relied on if: (a) delivered by hand; or (b) made electronically and personally acknowledged (automatic acknowledgement does not count); or (c) there is proof that it was sent to the address of the person to whom it is to be given (as specified in the sale memorandum) by a postal service that offers normally to deliver mail the next following business day. G28.3 A communication is to be treated as received: (a) when delivered, if delivered by hand; or (b) when personally acknowledged, if made electronically; but if delivered or made after 1700 hours on a business day a communication is to be treated as received on the next business day. G28.4 A communication sent by a postal service that offers normally to deliver mail the next following business day will be treated as received on the second business day after it has been posted.
G29. Contracts (Rights of Third Parties) Act 1999
No one is intended to have any benefit under the contract pursuant to the Contract (Rights of Third Parties) Act 1999.
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