The Buyer and Seller agree to use their best endeavors to proceed to a formal exchange of legal contracts within 28 days. The time limit will expire at 17.00 hours on the 28th day following the date that purchaser’s solicitor receives the draft contract.
A non-refundable reservation fee of 3.0% subject to a minimum of £5,000 plus VAT must be paid by the Buyer immediately following the conclusion of the auction or acceptance of an offer. This must be paid by cleared funds to the Auctioneer who will issue an Acknowledgement of Reservation.
Following the auction and in the 28 day period following the auction or acceptance of the offer (whichever is the later), the Seller will:
The Buyer undertakes within two days following the auction or acceptance of the offer to: