Stoke Court Drive, Stoke Poges, SL2 4LT

Guide Price & Reserves
Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

The “Important Notes For Auction Buyers” at the front of the Auctioneers catalogue and listed below includes a definition of “Guide Price & Reserve Price”. All properties are subject to a purchaser’s administration fee of £1,500 inc VAT unless otherwise stated in the addendum (£420 inc VAT for lots with guide prices up to £3,000). If the purchaser is liable for any further costs these will be stated within the Special Conditions of the legal pack, that have been produced by the seller’s lawyer, a copy of which can be obtained from Foreman King or downloaded from the Auctioneers website via the following link: https://www.networkauctions.co.uk/property/?preview=1&lot_id=228729 or auctions@networkauctions.co.uk

IMPORTANT NOTES FOR AUCTION BIDDERS
Both the auctioneers and their seller clients have taken all reasonable steps
to ensure that the properties in this catalogue are fairly described and that every
opportunity has been given to enable prospective buyers to make the necessary
enquiries and investigations prior to the auction.

Deposit:
At auction the fall of the electronic
gavel creates a binding contract and
we immediately require a deposit of
10% of the purchase price (subject to a
minimum £5000) by bank transfer. The
£5000 bidder registration deposit is in
part payment of the 10% deposit.
Prior Sales & Withdrawn Lots:
Prospective buyers should contact us
prior to the auction to confirm whether
a lot has been sold or withdrawn.
We and our clients shall not be
responsible for any losses or abortive
costs incurred by prospective buyers
against lots that are withdrawn or sold
prior to the auction.

Definition of ‘Guide Price’
& ‘Reserve Price’:
A guide price is an indication of the
seller’s current minimum acceptable
sale price. The guide price, or range
of guide prices, is given to assist
interested parties in deciding whether
or not to pursue their interest. It is
usual, but not always the case, that
a provisional reserve price is set by
the seller prior to the catalogue being
published. As the reserve price may
not be fixed at this stage, and can be
adjusted by the seller at any time prior
to auction, a guide price is published.
This guide price can be shown as a
range of prices above which the reserve
price will not be set, or as a single
figure within 10% of which the reserve
price will be set. Both the guide price
and reserve price can be subject to
change at any time prior to the
auction commencing.

A reserve price is the minimum price at
which the seller allows the auctioneers
to sell the lot at. It remains confidential
between the seller and the auctioneers.
Fixed or variable additional fees
and costs may be payable by the
buyer on top of the purchase price:
These will include a buyer’s
administration fee of £1,500 incl VAT
(£420 inc VAT for lots with a guide
price of £3000 or less) and may include
contributions towards the seller’s
costs, documentation costs, ground
rent, apportionment of rent or service
charge, rent or service charge arrears,
VAT, Stamp Duty Land Tax etc. To
establish the full cost of purchasing
a property please obtain your own
independent advice and inspect the
legal documentation, in particular the
special conditions.

Particulars of Sale:
Bidders should check the particulars
relating to any lot for which they intend
to bid and ensure that they are satisfied
with the accuracy of all measurements,
areas, details, leases and other matters
referred to in the particulars of the lot
or the conditions of sale and all other
matters subject to which the properties
are sold or have the benefit of. Bidders
should check that any contents, fixtures
or fittings described as included in the
sale and are the property of the seller.
This should be done by inspecting the
property and by making the necessary
enquiries with the auctioneers, the seller
or the sellers’ solicitors. Bidders should
make all necessary searches and
enquiries of appropriate bodies including
local authorities and service providers.
All measurements and areas referred
to in the particulars are approximate.
Bidders will be considered to have
inspected the relevant property and have
made all necessary and appropriate
enquiries and searches.

Sale of Property & Completion:
Bidders should note that a legally
enforceable contract of sale of the
relevant property on the terms set out
in these notices and the general and
special conditions of sale is created as
soon as it has been ‘knocked down’ to
the bidder by the auctioneer. Completion
is required twenty working days after the
auction date, unless specified otherwise.

Legal Documents
& Additional Costs:
It is essential that bidders check the
legal documents prior to bidding and
take professional advice. Special
conditions of sale can contain additional
costs (that is costs over and above the
price that the lot is ‘knocked down’ at)
and bidders are deemed to be aware of
any additional costs prior to bidding.

Rents, Information Regarding
Tenants & Price Estimates:
Any estimates provided by the
auctioneers regarding the price at
which a property may be sold cannot
be accepted by a buyer as advice or
any form of valuation. Any estimates or
suggestions given by the auctioneers
regarding current or future rental prices
must not be relied upon as a valuation,
but merely as estimates for guidance
purpose only.

Addendum:
Amendments to the catalogue
particulars will be noted as an
addendum. This forms part of the
contract of sale and bidders are
deemed to be aware of the addendum
and bid subject to it.