Conditional Terms and Conditions

BUYER'S PREMIUM

In a conditional Lot upon a sale price being agreed the Purchaser pays a Buyer's Premium to the Auctioneer. This Buyer's Premium will be either a sum equivalent to 5% of the agreed price plus VAT subject to a minimum sum plus VAT as may be agreed between the parties.
Upon payment of the Buyer's Premium the Purchaser will be given a period of 28 days from that date to conclude a contract for the Purchase of the Lot. The Lot will remain on the market until the contract is concluded, however no viewings or negotiations shall be undertaken with any separate interested party.
Should the Purchaser not conclude the contract within said period of 28 days, other than due to the acts or omissions of the Seller or the Seller's Agents, then the Buyer's Premium will be forfeited by the Purchaser.
Should the contract not be concluded within said period due to the fault of the Seller, other than as a result of the acts or omissions of the Purchaser or his Agents, the Buyer's Premium will be repaid to the Purchaser should the Purchaser not agree to extend the period within which the contact is to be concluded.

The Buyer's Premium does not represent a payment towards the purchase price agreed.

In a conditional Lot upon a sale price being agreed the Purchaser pays a non refundable deposit to the Auctioneer. This Deposit will be the sum of £3000 (plus vat where applicable)
Upon payment of the Deposit the Purchaser will be given a period of 28 days from that date to conclude a contract for the Purchase of the Lot. The Lot will remain on the market until the contract is concluded, however no viewings or negotiations shall be undertaken with any separate interested party.
Should the Purchaser not conclude the contract within said period of 28 days, other than due to the acts or omissions of the Seller or the Seller's Agents, then the Deposit will be forfeited by the Purchaser.
Should the contract not be concluded within said period due to the fault of the Seller, other than as a result of the acts or omissions of the Purchaser or his Agents, the Deposit will be repaid to the Purchaser should the Purchaser not agree to extend the period within which the contact is to be concluded.