Special conditions of sale for sale by auction where RICS Common Auction Conditions (4th edition) are used

The following Property precedent provides comprehensive and up to date legal information covering:

  • Special conditions of sale for sale by auction where RICS Common Auction Conditions (4th edition) are used

Special conditions of sale for sale by auction where RICS Common Auction Conditions (4th edition) are used

Special conditions

Note: words in capitals and/or bold have special meanings that are defined in the Glossary. Words that are neither in square brackets nor in italics constitute the Special Conditions applicable to the relevant Lot. References to the General Conditions are for convenience only and are not intended to be comprehensive.

Lot Number [insert]

Name and address of Seller[[insert name of seller] of [insert address] OR Undisclosed—to be identified in the sales memorandum]
Name, address and reference of seller’s solicitors[insert name] of [insert address]
[insert reference]
Description of LotSee Condition G1.1[insert postal address]
Rights to be grantedSee Condition G1.1[None OR [Insert details]]
Rights to be reservedSee Condition G1.1[None OR [Insert details]]
ExclusionsSee Condition G1.1[None OR [Insert details]]
TenanciesSee Condition G1.2[There are no tenancies OR The tenancies are listed in the tenancy schedule]
What the sale is subject toSee Condition G1The matters set out in the General Conditions[and: [insert existing covenants and encumbrances]]
Chattels etcSee Condition G1.7[None OR [Insert details]]
DepositSee Condition G2[10% of the price to be paid to the auctioneer and held by the auctioneer (or if the auctioneer chooses the seller’s solicitors as stakeholder) OR 10% of the price[plus VAT] to be held [as stakeholder][as agent] for the seller]
InsuranceSee Condition G3[For the period from and including the contract date

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