Purchase Conditions

you, your: means any person viewing, using or interacting with this Site with a view to purchasing a Property that is advertised on this Site

we, us, our: means Brighton & Beck Property Group (Company Number SC619714) Registered office: 25b St James Avenue, East Kilbride, G74 5QD

Bidding Date means: the date and time on which the Vendor has indicated on the Site that prospective purchasers require to tender their bid for the Property

Buyers Fee means: a buyers fee of no more than TWO THOUSAND POUNDS (£2,000)+vat at 20% (£2,400) STERLING, payable upon a successful bid at the end of an auction. Any commercial sales are subject to a buyers premium of £3,000+VAT (£3,600) or 2%+VAT (Whichever is the greater).

Deposit Means: a payment to us of Ten percent (10%) of the value of the final bid made by you for the Property payable by your debit or credit card at the end of the auction.

Intended Completion Date means: the date occurring 28 days* after the Bidding Date

Legal Pack means: the information provided by the Vendor/Seller about the Property on this website including but not limited to the title deeds for the Property

ARTICLE OF ROUP & MINUTE OF PREFERENCE The highest bidder for the Lot at the Auction comprising Heritable Property shall be the Buyer. On the Lot being knocked down, the successful bidder must forthwith pay the deposit referred to within the terms and conditions and complete and sign the Minute of Preference and Enactment, and return this to the Auctioneer within 72 hours of the Auction concluding and such bidder shall become bound and obliged for the sum offered by him. If the successful bidder acted as an Agent, he must give the Auctioneers' Clerk the details of the principal at the time of completing and signing the Minute of Preference and Enactment. In default, We shall be entirely at liberty to re-submit the Lot for sale at any time without consulting or giving notice to the earlier successful bidder or his principal. THE AUCTIONEER MAY, IN THE ALTERNATIVE, SIGN THE MINUTE OF PREFERENCE AND ENACTMENT ON BEHALF OF THE BUYER ONCE THE SAID DEPOSIT HAS BEEN PAID, THUS BINDING THE BUYER. THE BUYER EXPRESSLY CONSENTS TO THIS.

Price means: the highest bid received which is equal to or exceeds the Reserve Price.

Property means: the property which has been placed on the Site by the Vendor/Seller for sale and for which the Purchaser has made a bid which on the Bidding Date was both the highest bid and one that was equal to or exceeded the Reserve Price

Purchaser means: the person who is buying the Property and is that person who has successfully bid for the Property on the Site

Reserve Price means: the value set by the Vendor/Seller below which the Vendor/Seller will not accept any bids made by the Purchaser

Site means: brightonandbeck.co.uk and any sub-sites or pages and documents

Valid Contract means: either (i) exchange of contracts in England between the Purchaser and the Vendor/Seller to purchase/sell the Property at the Price through your respective solicitors within 28 days* of the Bidding Date which contract will be on the Vendor/Sellers terms or (ii) a concluded missive in Scotland between the Purchaser and the Vendor/Seller to purchase/sell the Property at the Price through your respective solicitors within 28 days* of the Bidding Date which missives will be constituted by an Articles of Roup in terms of the Style Articles of Roup or if the Vendor/Seller is a large lending or other institution on their preferred terms and a straight/de plano acceptance thereof. No changes to the Style Articles of Roup or said other offer will be accepted.

Valid Title means: the title of the Vendor/Seller of the Property is good and marketable and is such that a solicitor, experienced in conveyancing and showing a reasonable level of skill would regard as being appropriate security for a mainstream lender from the point of view of the adequacy of the title to the Property. Such assessment shall not include any issues relating to the construction of, quality of, alteration to and any guarantees in respect of the Property which are also matters mainstream lenders require to be addressed prior to releasing funds.

Vendor/Seller means: the person who has title to the Property and is selling the Property

IMPORTANCE OF THIS PAGE

This page represents the conditions relating to the use of this site when bidding for a property ("Purchase Conditions").

Before reading this page you should be familiar with the General Conditions of the site which you can find at www.brightonandbeck.co.uk

Throughout these Purchase Conditions certain words are given special meanings. Those special meanings are shown in the box on the right hand side of this page.

The Purchase Conditions represent a binding legal agreement between you and the Vendor/Seller with respect to you purchasing the Property. By continuing to bid for the Property, you undertake that you have read, understood and agree to be contractually bound by these Purchase Conditions. If you do not agree to (or cannot comply with) any of these Purchase Conditions, you must not bid for or purchase a Property using the Site.

We have the right to revise and amend these Purchase Conditions from time to time, for example, to reflect changes in market conditions affecting our business, changes in technology, changes in relevant laws and regulatory requirements. It is important every time you use this Site to bid for or purchase a property that you check back on these Purchase Conditions.

OUR RELATIONSHIP WITH YOU

When you use this Site to bid for or purchase a property, we are not

  • acting for you in any way
  • your agent
  • providing you with any advice on the merits or otherwise of any particular property featured on this Site
  • providing you with any legal advice

The purpose of this Site is to facilitate the interaction of people who have properties to sell and people who wish to buy properties. This Site is a platform on which Vendors/Sellers and prospective purchasers can enter into an arrangement between them which bind the Vendor/Seller and the Purchaser to enter into a valid contract for the sale or purchase of a property. The relationship created on this Site is not a contract for purchase or a contract for sale.

YOUR CONTRACTUAL OBLIGATIONS WHEN YOU MAKE A BID

Where you make a bid for a Property and that bid is (A) the highest bid received and (B) is equal to or exceeds the Reserve Price set by the Vendor/Seller, then you are undertaking to enter into a Valid Contract and complete the transaction within 28 days* of the Bidding Date. This means that you have to pay for the Property within 28 days* of the date in which you place your final bid.

WHAT HAPPENS IF THE VENDOR BREACHES THE UNDERTAKINGS TO COMPLETE THE SALE

At the time the Vendor/Seller placed the Property on this Site to be bid upon, the Vendor/Seller provided undertakings that the Vendor/Seller had a Valid Title and was bound to accept the highest bid provided that such bid was equal to or in excess of the Reserve Price. However, the Vendor/Seller has also made the title deeds and other information for the Property available in the Legal Pack and the Purchaser is not entitled to rely on these undertakings and is responsible for making their own enquiries and ensuring that they are satisfied that the Seller/Vendor has a Valid Title to the Property prior to submitting a bid for the Property. The Purchaser is also solely responsible for making enquiries into any other legal matters that a solicitor experienced in conveyancing and showing a reasonable level of skill would normally make prior to exchange of contracts in England or conclusion of missives in Scotland prior to submitting a bid for the Property.

Provided that you or your solicitor are able to demonstrate to the Vendor/Seller and the solicitor acting for the Vendor/Seller that you are in a position to complete the purchase of the Property no later than the intended Completion Date then:-

  • if the property is in England or Wales, the Vendor/Seller is obliged to Exchange Contracts with you andcomplete the sale of the Property to you with vacant possession on the Intended Completion Date; or
  • if the property is in Scotland, the Vendor/Seller is obliged conclude missives with you with vacantpossession and complete the sale of the Property to you on the Intended Completion Date

Deposit

If your bid is successful, we will retain the Deposit until the date of completion of the transaction at which time the Deposit will be released to the Vendor/Seller. If the transaction does not complete for a reason which is solely attributable to the Vendor/Seller, the Deposit will be refunded to the Purchaser. However, if the transaction does not proceed for a reason attributable in any way to the Purchaser or the Purchaser’s agents or other representatives then the Deposit will be released to the Vendor/Seller.

Buyers Fee

If your bid is successful, we will retain the Buyers Fee until the date of completion of the transaction at which time the Buyers Fee will be taken by us. If the transaction does not complete for a reason which is solely attributable to the Vendor/Seller, the Buyer’s Fee will be refunded to the Purchaser. However, if the transaction does not proceed for a reason attributable in any way to the Purchaser or the Purchaser’s agents or other representatives then the Buyers Fee will be retained by us.

IF YOUR BID IS SUCCESSFUL

Once the bidding is complete you will be advised by e-mail from us whether or not your bid is successful. If your bid is not successful you have no obligations and no fee to pay. The fee that you will have paid to us by your credit or debit card when you make your bid will be refunded to you.

If your bid is successful, the Deposit and Buyers Fee shall become non-refundable. The only exception to this is where the transaction does not complete for a reason which is solely attributable to the Vendor/Seller in which case both the Deposit and Buyers Fee will be refunded to the Purchaser.If your bid is not successful you have no obligations and the Deposit and Buyer’s Fee will be refunded to you.

We will also send an e-mail to your solicitor providing details of the transaction and your contact details. By accepting these Purchase Conditions you authorise us to release such of your Personal Information as is necessarily appropriate to

  • the solicitor whom you have named, or where you have indicated that you wish to use one of ourpreferred auction solicitors, this firm of solicitors will act on your behalf in relation to this auctionpurchase
  • the Vendor/Seller
  • the solicitor acting for the Vendor/Seller
  • any government or other authority to whom we are responsible in the conduct of the Site
  • any person to whom we have a legal obligation to release such information

* Brighton & Becks Standard completion time for auction is 28 days from sale. Please always refer to the Articles of Roup within the Legal Pack to confirm this is the case with the seller and sellers solicitors