rem o te biddin g – our terms and conditions These Terms and Cond i t i ons apply to the Bidder and the Purchaser ( i f d i fferent) and you w i ll be bound by them i f ou b i d by telephone, proxy or onl i ne . Please complete and return the Remote Bidding form to the Hollis Morgan Auction Team not less than 48 hours prior to the Auction .
1 A prospective purchaser should complete and sign the Remote Bidding Form. Failure to complete or sign the Remote Bidding Form will be treated as a fundamental error that will entitle the auctioneer to disregard your bid. 2 If you are making a proxy bid for more than one lot a separate form must be completed for each lot for which a prospective purchaser wishes the auctioneer to bid. For telephone and online bidders you need only complete one form for additional lots, as long as the bidder/buyer details remain the same otherwise additional forms will have to be completed. When using one form you must ensure ALL the additional lot numbers have been entered. 3 The maximum proxy bid to which the auctioneer is authorised to bid MUST be an exact figure. 4 The auctioneer reserves the right to not bid on behalf of the prospective purchaser should there be any error or confusion in respect of these instructions or the accompanying deposit. 5 The Remote Bidding form must be sent to bid@hollismorgan.co.uk so that it is received at least 48 hours prior to the Auction. It is your responsibility to ensure the form/s have been received together with two forms of certified ID in accordance with our Identification and anti-money laundering document. 6 The prospective purchaser must ensure they have made clear in the Deposit Section of the remote bidding form, which payment option they wish to pay the required 10% deposit (minimum £2,000 if paying by cheque) and supply the relevant Cheque or Debit Card details within the timescales set out in the Bidding Pack, failure to comply or complete this section will entitle the auctioneer to disregard your bid. In circumstances where the deposit supplied is above the 10% of the winning bid the balance of the funds will be considered as an additional deposit towards the purchase price. 7 The prospective purchaser appoints the auctioneer as agent and authorises the auctioneer to bid for the relevant lot on behalf of the prospective purchaser in such manner as the auctioneer thinks fit in his absolute discretion. 8 The prospective purchaser shall be considered to have inspected the auction catalogue, the Common Auction Conditions and the general and separate special conditions of sale and notices to prospective purchasers for the relevant lot and to have full knowledge thereof and authorise the auctioneer or any duly authorised partner or employee of Hollis Morgan as the prospective purchasers agents to sign the memorandum of contract incorporating all such matters at or after the auction. 9 If successful the winning bidder hereby agrees to pay to Hollis Morgan 10% of the purchase price as a deposit together with the buyer’s premium. The winning bidder is committed to a binding contract to purchase at the fall of the hammer. The winning bidder’s card will be debited the bidders security fee (£5,000 deposit & £1,200 Buyer’s Premium) immediately after the auction. The winning bidder will then have two working days from the auction date to pay the balance of the deposit by bank transfer and we shall confirm account details to them in a timely manner in order to facilitate this. If the winning bidder has not paid the balance of the deposit by close of business on the second working day then Hollis Morgan fully reserves it’s rights in law to pursue any remedy available to it, acting on behalf of the seller, to recover from the winning bidder the balance of the funds due and any associated losses, damages and interest as applicable. A Memorandum of Sale will be signed by Us on your behalf following the auction and we reserve the right to retain the memorandum of sale until such time as we have received the Full Deposit and Buyer Premium. In the case of a signed blank cheque being provided, we will only complete on behalf of a winning bidder for the amount of 10% of the purchase price (minimum £2,000) and the buyer’s premium (£1,200) made payable to Hollis Morgan. 10 The prospective purchaser may, in writing ONLY, at any time up to the commencement of the auction in which the particular lot is to be sold wit draw
the auctioneer’s authority to bid or make alterations to the Remote Bidding Form. It is the prospective purchasers responsibility to ensure that the auctioneer personally receives such instructions and he should check to ensure such instructions have been received. 11 With regards to proxy bids, the amount of the prospective purchasers bid will not be disclosed to the vendor or any other person either during or after the sale without the consent of the prospective purchaser. 12 The auctioneer reserves the right to bid himself or through an agent up to the reserve price for the particular lot. 13 Prospective purchasers are advised to check the Hollis Morgan Auction website, on the day of the auction, for any amendments to the particulars of sale or conditions relating to the relevant lot or other matters relating to it. If amendments have been made these will be added in the form of a digital addendum and loaded onto the relevant lots legal pack. The prospective purchaser will be deemed to have knowledge of such amendments and will buy subject to them in any event. If the prospective purchaser does not wish to proceed after consulting the digital addendum, they must telephone the Hollis Morgan Office AND confirm in writing their wish to withdraw their remote bidding authority, before the commencement of the auction. Should the prospective purchaser not telephone or email before the commencement of the auction, the auctioneers will continue to act under the authority and will not be responsible for any loss, costs or damages incurred by the prospective purchaser as a result of thereof. 14 The auctioneer will use all reasonable endeavours to provide remote bidding facilities at the auction and will make no additional charge to a prospective purchaser for this service. The auctioneer will accept no liability whatsoever for any bid not being made on behalf of the prospective purchaser as a result of lack of clarify of instructions, Error or lack of clarity or confusion regarding the Remote Bidding Form or the deposit, Prospective purchasers being disconnected during bidding or are unobtainable, Interruption or suspension of telephone or internet services For any other reason whatsoever beyond the control of the auctioneer. 15 The prospective purchaser will be advised if the relevant lot has been successfully purchased on his behalf as soon as possible after the auction. 16 The successful purchaser or bidder will be jointly and severally liable to pay hollismorgan the buyer’s premium fee. 17 The auctioneer will accept no liability whatsoever for any bid not being made on behalf of the prospective purchaser for any reason whatsoever. Prospective purchasers will not hold hollismorgan liable for any loss or claims relating to the remote bidding system. 18 We are obliged to identify purchasers, bidders and payers in accordance with the requirements of the Money Laundering, Terrorist Financing and Transfer of Funds (information on the payer) Regulations 2017 (as amended). We are likely to request from you, and retain some information and documentation for these purposes and/or make searches of appropriate databases electronically (including verification through third party data providers). For the avoidance of doubt, searches may also be conducted on individuals, directors and shareholders of these entities as is required by the legislation. If satisfactory evidence of your identity is not provided within a reasonable time, there may be circumstances in which we are not able to proceed. Failure to satisfy your requirements can also result in termination of the acquisition of the property. Please be aware that we may share the information and documentation you provide for this purpose with the vendor, the vendor’s solicitors, agents or other authorised representatives of the vendor in order to facilitate the transaction.
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BRISTOL AND THE WEST COUNTRY’S BIGGEST PROPERTY EVENT
Hollis Morgan Auction Terms and Conditions apply. © Hollis Morgan Property Limited 2020 v1
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