Common auction Conditions g22.3 g22.4 g22.5 g22.6 G23. g23.1 g23.2 g23.3 g23.4 g23.5 g23.6 g23.7 g23.8 G24. g24.1 g24.2 g24.3 g24.4 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. 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 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 endeavours 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. 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. 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. Rent reviews 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. 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. Following completion the buyer must complete rent 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. 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. 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. 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. 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. the seller and the buyer are to bear their own costs in relation to rent review negotiations and proceedings. Tenancy renewals 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. 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. if the seller receives a notice the seller must send a copy to the buyer within five business days and act as the buyer reasonably directs in relation to it. Following completion the buyer must: g24.5 G25. g25.1 g25.2 g25.3 G26. G27. g27.1 g27.2 G28. g28.1 g28.2 g28.3 g28.4 G29. g30.1 • (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. 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. Warranties available warranties are listed in the special conditions. 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. 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. 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. Registration at the Land Registry 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. 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. Notices and other communications 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. 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. 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. 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. 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. generally each property is sold in accordance with Royal institute of Chartered Surveyors (RiCS) Common auctions Conditions, edition 3, (“the Common auction Conditions”) subject to the following, each taking precedence over the other in descending order: (i) the Special Conditions of Sale for each property if applicable (“the Special Conditions”), plus the law Society’s conditions known as the Standard Conditions of Sale (Fifth edition) if applicable, as set out in the legal pack; (ii) these extra Conditions of Sale (otherwise known as the extra Conditions of Sale); (iii) the auction Catalogue; and its addendum. the Buyer is deemed to buy the property knowing and fully g30.2 g30.3 g30.4 g30.5 g30.6 g30.7 g30.8 g30.9 accepting all the above conditions and should take independent legal advice if in doubt. Auction Procedure all prospective purchasers must register their attendance in the auction room by completing a registration form. they must provide such confirmation of their identity and evidence of their home address as the Auctioneer in his absolute discretion considers acceptable. persons not registering, or who are unable to provide adequate evidence of identity or address, will not be permitted to bid in the auction. on the property being knocked down by the Auctioneer, the successful bidder must immediately attend the Settling table and sign two copies of the auction Memorandum for the property. the successful bidder must also pay the necessary deposit (see clause g30.3) and the Auctioneer’s administration Charge (see clause g30.4). Deposit the Buyer will pay a deposit of 10% of the purchase price or £2,000, or such other figure stipulated by the Seller’s solicitor, whichever shall be the greater, to the Auctioneer on or before signing the auction Memorandum. Unless the Special Conditions for the lot in question state to the contrary, the Auctioneer shall hold as agent of the Seller, save for that part representing the auctioneers’ charges to the Seller. the deposit shall be paid by way of Banker’s Draft or other such method the Auctioneer in his absolute discretion may accept. Cash will not be accepted. any interest accruing on monies held by the auctioneers will be retained by them to offset administration. Auctioneers Administrative Charge the Buyer will pay to the Auctioneer an administrative charge of £800, including Vat on or before the earliest of signing the auction Memorandum or exchange of contract. Sale Particulars the property is believed to be and shall be taken to be correctly described in the auction Catalogue (“the Catalogue”). the Auctioneer has prepared the Catalogue from information provided by or on behalf of the Seller and the Auctioneer shall not be responsible for any errors in the Catalogue. the Buyer must satisfy himself, before making a bid, as to the accuracy of the particulars given in the Catalogue and shall not be entitled to cancel the sale or rescind the agreement for Sale of the property as a result of any incorrect statement, error or omission in the Catalogue. the Buyer acknowledges that he has not relied on the Catalogue in deciding whether to buy the property and that the Buyer is not relying on the information in the particulars as proof that the current or any future use or nature of any lot is legitimate, consented or approved. the Buyer acknowledges that the onus for verification lies solely with the Buyer. if any information is not correct any liability of the Seller and any remedy of the Buyer are excluded to the extent permitted by statute. Misrepresentations the Buyer acknowledges that: (a) He has not been persuaded to purchase the property by any statement or representation whether verbal or in writing which may have been made to him or any person on his behalf, by the Auctioneer, the Seller or anyone on behalf of the Seller; (b) any such statement or representation as referred to in paragraph (a) above does not form part of this agreement; and (c) any liability of the Auctioneer, the Seller or anyone on behalf of the Seller at law or in equity in respect of any statement made to the Buyer or anyone on his behalf is excluded to the extent permitted by the Misrepresentation act 1967. Service and Other Fittings the Seller makes no claim as to the ownership of any electric wiring and fittings, gas fittings and installations, central heating installations, tV aerials, satellite dishes or other reception devices, any of which may belong to the supply companies. in such cases the Seller accepts no liability for any payments that may be outstanding. Bidding Reservations For the purpose of the estate agents act 1979, the right is reserved to the Auctioneer or any related company, and the shareholders, and employees of the foregoing or their associates or members of their respective families, to bid at the auction or to offer a property for sale at the auction. Inspection of Plans, Leases, etc Copies of restrictions, plans, leases and any other documents referred to in the Special Conditions of Sale or the auction Catalogue may be inspected on-line at www. countrywidepropertyauctions.co.uk or at the offices of the Seller’s Solicitors or the Auctioneer’s offices at any time during normal working hours, up to the date prior to the sale or in the auction room prior to the commencement of the auction sale. the Buyer shall be treated as buying with full knowledge of all matters, whether or not he has inspected any of the documents. www.countrywidepropertyauctions.co.uk 52 Can’t make the auction? You can still make a telephone or proxy bid on the property you are interested in. For further details contact the auctioneers immediately. Telephone 0870 240 1140.