Bidding Registration


DEFINED TERMS

AUCTION FEES
The Fee payable by the buyer to the auctioneer. The auction fees are non-refundable.

UNCONDITIONAL SALE
The contract by which the Seller agrees to sell and the buyer agrees to buy the lot.

THE DEPOSIT
As per the legal pack. To be paid to the Auctioneer and held by the Auctioneer as a stakeholder.

MEMORANDUM OF SALE
The short form of agreement signed by the Buyer and Seller where a sale is agreed other than at the auction. The memorandum of sale will be signed by the Auctioneer on behalf of both the Seller and the Buyer unless otherwise stated by either party in writing.

UNCONDITIONAL SALE
The buyer is legally obliged to purchase the property with full legal completion taking place within 28 days (unless otherwise stated in the legal pack) of the Auction.

ATTENTION
The auction fees are received on a non-refundable basis therefore due consideration should be given by the purchaser to your ability to raise any mortgage or loan that you require to finance your purchase. We also advise you to consider undertaking any survey, structural survey or professional valuation on your behalf before paying the auction fees which are non-refundable. In the event of the purchaser withdrawing for any reason whatsoever from the sale, including defects in the title or issues raised by survey or searches the auction fees included in the legal pack (at the prevailing rate) will be forfeited. In the event of the vendor withdrawing, the auction fees will be refunded to the purchaser in full. This is a legal document and you are strongly advised to seek independent legal advice before signing. Connect UK Auctions presume that you understand the risks associated with property transactions and that you have the requisite knowledge and understanding of the property market.

This acknowledgement confirms receipt from the buyer(s) named below, of the auction fee of 2% + VAT of the final hammer sale price, or a minimum of £5,500 + VAT (whichever is greatest). This is not calculated against the final negotiated purchase price of the Subject property (Unless otherwise stated in the legal pack).

NB: The auction fee is not considered as part payment of the final negotiated selling price and is non-refundable:

In line with The Money Laundering, Terrorist Financing and Transfer of Funds (information on the Payer) Regulations 2017, as a regulated profession, we are duty bound to carry out due diligence on all of our clients to confirm their identity. Rather than traditional methods in which you would have to produce multiple utility bills and a photographic ID we use an electronic verification system. This system allows us to verify you from basic details using electronic data, however it is not a credit check of any kind so will have no effect on you or your credit history. By signing this agreement as the seller (or purchaser) you understand that we will undertake a search with Credit Referencing Agencies for the purposes of verifying your identity. To do so the Credit Referencing Agencies may check the details you supply against any particulars on any database (public or otherwise) to which they have access. They may also use your details in the future to assist other companies for verification purposes. A record of the search will be retained.

REMOTE BIDDING
To place a Remote Bid, the Bidder must first complete an authority form for the Lots involved and pay a bidder’s registration deposit. This deposit will be deducted from the deposit if the signee is the highest bidder. If not, the deposit will be refunded within 5 working days.

We are required by law to verify the identity of each individual purchaser and carry out an AML check. Please refer to our Buyers Terms and conditions for details on how payment will be taken. At the point of submitting their Remote Bid, the Bidder shall be deemed to have read the relevant Buyers Terms and conditions, the particulars of the relevant Lot in the catalogue and the full legal pack, including the Special Conditions of Sale. The Bidder shall be deemed to have taken all necessary professional and legal advice and to have made enquiries and have knowledge of any announcements to be made from the rostrum and any of the addendum relating to the relevant Lot. The addendum can, and should, be checked by visiting our website or at the Auction prior to bidding.

The bidder acknowledges that they have read and understood the legal pack corresponding to the lot in which they are bidding on.

In the case of telephone bids, at about the time the Lot comes up for auction, attempts will be made to contact the Bidder by telephone and, if successful, the Bidder may then compete in the bidding through the Auctioneer’s staff. The Bidder accepts that such contact is at the Bidder’s risk.

In the case of internet bidding, all bidders who have registered can commence bidding when the intended Lot is being offered, however Connect UK Auctions do not take any liability or responsibility should there be any interruption or suspension of internet services.

The Bidder accepts in the event that the telephone or internet link is not established, breaks down or there is any confusion or disruption, then the Bidder will not be able to participate in the Auction. The Auctioneer will not be held responsible for instructions or authorisations given to them which are unclear or incomplete and these bids will not be accepted. If it is impossible to obtain telephone contact or the link breaks down, the Auctioneer is authorised to continue to bid on behalf of the telephone bidder up to the maximum bid stated on this form. If internet connection is lost the Auctioneer is authorised to continue to bid on behalf of the internet bidder up to the maximum bid stated on this form. In the case of written bids, Connect UK Auctions staff will compete in the bidding up to the maximum of the authorisation. If no maximum is inserted, Connect UK Auctions will not bid. Connect UK Auctions do not guarantee to regulate the bidding so that the maximum authorised bid actually falls to the written bidder.

Connect UK Auctions reserve the right not to proceed with a Remote Bid in the event of any error, doubt, omission, uncertainty as to the bid, or for any reason whatsoever, and give no warranty, or guarantee, that a bid would be made on behalf of the Bidder and accept no liability.

If a Remote Bid accepted by the Auctioneer is the highest bid on the fall of the hammer, the Bidder will then be contractually bound to purchase the property. The Auctioneer will sign the Contract of Sale, Minute of Preference or Enactment, or Reservation Agreement as applicable on behalf of the Bidder. The applicable fees will then be due, as described in the relevant Buyers Terms.

Once delivered to the Auctioneer the authority to bid is binding on the Bidder up to 11pm on the day on which the particular Lot is auctioned. This is to allow for the possibility of a Seller agreeing to sell post auction where the bidding has not reached the reserve.

The authority can only be withdrawn by written notification via email received by the Auctioneer by 5pm the day before the Auction, or into the hands of the Auctioneer in the Auction Room half an hour before the start of that day’s auction. It is the Bidder’s responsibility to obtain a receipt of a copy of the withdrawal notification authorised by a representative of the Auctioneer. Without such a receipt the authority stands, and any successful contract is binding on the Bidder.

If the Bidder, or an agent, submits both a Remote Bid and also bids directly at the Auction without having previously withdrawn the Remote Bid authority, the Auctioneer is at liberty to accept such bid in addition to any bid from Connect UK Auctions staff as empowered under the Remote Bid authority. Connect UK Auctions would have no liability whatsoever if the price achieved is the result only of this competition in bidding without intervention from other bidders.

The receipt of a Remote Bid shall not in any way hinder the right of the Seller (or Auctioneer) to withdraw any Lot or to sell prior to auction to a third party, and neither the Seller nor Connect UK Auctions shall be under any liability to the Bidder in the event that the Lot is not offered at the Auction.

The Auctioneer may disclose to the Seller that a Remote Bid has been entered for the Property, but not the amount of the maximum bid.

THIS IS A LEGAL DOCUMENT. YOU ARE STRONGLY ADVISED TO SEEK INDEPENDENT LEGAL ADVICE BEFORE SIGNING.

The auctioneer expects that you know the risks associated with the property transactions and that you have the requisite knowledge and understanding of the property market.

I understand that if my bid is successful, Connect UK Auctions will sign the memorandum of Sale on my behalf and that I will immediately have to pay the Deposit and the Auction Fees. Thereafter, I understand that in an unconditional auction I will have to complete the purchase within 28 days unless otherwise stated in the legal pack (Special conditions may apply). I confirm that I have carried out my due diligence prior to signing this form and the Auctioneer will not be held responsible for any breach or the Seller not disclosing any information regarding the lot. I am fully satisfied that the Auctioneer has worked in good faith and I will not bring any legal proceedings / complaint against them in the event of any breach / conveyancing issues between me and the Seller whatsoever. I understand that it is solely my liability to check legal pack, planning permission or any other investigations related to the Lot prior to bidding and I will not hold the Auctioneer responsible for any failure inclusive of all liabilities whatsoever. I confirm that I have read and understood the Legal Pack and agree to any fees and special conditions within the Legal Pack. I agree that I have read and understood the legal pack corresponding to the lot in which I am bidding on. Certified copies of my photographic ID, utility bill and proof of funds are attached.

Please sign below to indicate your acceptance of these terms and conditions and that you have authority to sign on behalf of all buyers.

NB. All telephone conversations are recorded for training and monitoring purposes.

HOW YOU WILL BE BIDDING

If bidding online is the chosen bidding method, and for any reason I am unable to do this on the day of the auction, I hereby authorise Connect UK Auctions to accept my bids over the telephone.

 

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Signature Certificate
Document name: Bidding Registration
Unique Document ID: bd5ce1aaab5cbd5394a7bb05d140837ddc367f37
Timestamp Audit
18 August 2021 12:03 GMTBidding Registration Uploaded by Connect UK Auctions - admin@connectukgroup.co.uk IP 217.34.34.35