Auction Method The auction for this property will take place as an “Auction Event” behind closed doors with a live auctioneer and will be streamed online in real-time. The property will be sold alongside several other lots. Bids must be placed remotely- please see the below section on “Registration Process”. The auction can be watched in real-time on the auction date, by following the link on our home page: https://www.sdlauctions.co.uk/ The auction date applicable for the property is displayed on this page. It is not possible to provide a precise timeslot when this property will be auctioned on the day, because there are other lots being sold. You are required to undertake identity checks before you can be authorised to bid. You must also provide your payment details. If you do not provide this information, your registration will not be processed. When you place your bid, you are deemed to have agreed to SDL Property Auctions’ Buyers Terms (Knight Frank). Auction Type- Conditional If you are the highest bidder when the auction for the property comes to an end, you will enter into a reservation agreement with the seller. You must then pay the applicable Reservation Fee and deposit. You will then have 40 business days within which to exchange contracts and complete the sale, unless the Special Conditions of Sale contained within the legal pack specify a different time limit. If you fail to do so, you may lose your Reservation Fee. During the 40-business day reservation period, the seller is not able to accept other offers. Auction Fees  The following non-refundable fees apply: • Reservation Fee- payable immediately when the auction ends. The value of this fee will be listed against the property details, inclusive of VAT. The Reservation Fee does not contribute to the purchase price. There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the legal pack. You must read the Special Conditions carefully before bidding. Any additional fees are included at the seller’s discretion, not on the instruction of SDL Property Auctions, and will be in addition to any fees payable to us. SDL Property Auctions has limited control over the content of the Special Conditions of Sale. Deposit You are required to pay a non-refundable 10% deposit, subject to a minimum of £5,000. The deposit will be payable immediately after the auction and will be held as security by SDL Property Auctions. This will be passed to your solicitor in time for completion. In the event that exchange of contracts does not take place and the sale cannot proceed, the balance of the deposit will be payable to the seller, less any fees payable to us. Payment Method  Applicable fees must be paid immediately after a winning bid has been placed. We do not accept payment by cash or cheque. Prior to the auction, we will email you to register your card details with our third-party provider, Stripe. Your card details will be stored on their secure online payment platform. Payment will only be taken from you in the event of a winning bid. In this case, you will be contacted by one of our representatives to make payment. If we cannot make contact with you within 24 hours after the auction ends, we reserve the right to charge your card. Legal Pack  Before bidding, you must view the legal pack for the property. This is the collection of legal documents that apply to the sale. The documents will include but are not limited to: Special Conditions of Sale, title documents from the Land Registry and Energy Performance Certificate. The legal pack can be viewed on this page, under the sub-heading “Legal pack”. Follow this link, and you will then be directed to create an account with Auction Passport to view the documents. The legal pack can change at any time up until the auction starts so you must check for the most recent version of the legal pack. An addendum may be issued outlining any late changes. At the point of placing your bid, you are deemed to have read the legal pack in its entirety, including any changes. Failure to check for changes to the legal pack will not be a valid reason for withdrawing from the sale. It is strongly recommended that you instruct a qualified professional to review the legal pack and raise any necessary enquiries before bidding. Special Conditions of Sale  The property is sold subject to any Special Conditions of Sale. These are contractual conditions that are included by the seller of the property - they are not part of SDL Property Auctions’ terms and conditions. The Special Conditions of Sale are legally binding. You are taken to have read and accepted these at the point of bidding, even if you have not done so. The Special Conditions of Sale are available to read in the legal pack. Energy Performance Certificate  The EPC for this property can be viewed in full at the top of this page or in the legal pack. Registration Process  To register to bid on the property, you must submit your remote bid here: https://www.sdlauctions.co.uk/remote-telephone-proxy-bidding/. There is also a link to register on the property details page, where you will also be able to find the lot number for the property. Prospective buyers must register no later than 12pm the day before the auction date. If you register after the cut off, it cannot be guaranteed that your registration will be processed. Guide Price & Reserve Price  Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.