On the fall of the gavel the highest bidder above the reserve is contracted to buy.
• The successful bidding number is noted and the buyer is required to pay the deposit, administration fee and conﬁrmation of identity. The sale memorandum will be prepared at the clerks’ desk and must be signed by the buyer and exchanged before leaving the auction room.
• The signed counterpart sale memorandum should be passed to your solicitor or legal representative immediately. You should also insure the property immediately, if appropriate.
• Completion will usually take place 28 days after exchange, but this may be varied in the individual special conditions of sale, which are attached to the sale memorandum.
• The auctioneer is legally authorised to sign the sale memorandum on behalf of both buyer and seller if you leave the auction room without signing. We reserve the right to immediately re-offer the lot if the deposit conditions are not strictly adhered to in accordance with our conditions of sale.