1.

The property will be marketed for a reasonable period by NHA prior to the auction date by advertising it on NHA's website (www.nethouseauctions.com) and by such other means as NHA shall in its absolute discretion consider appropriate.

2.

The Seller and the Seller's Estate Agent are responsible for carrying out such other marketing of the property as they consider appropriate.

3.

The Seller will arrange for his Solicitor/Licensed Conveyancer to prepare a legal pack to be made available to potential buyers.

4.

The Solicitor shall procure that his Solicitor/Licensed Conveyancer sends to NHA the 'Seller's Solicitors/Licensed Conveyancers' undertaking (available on www.nethouseauctions.com) in good time before the auction date.

5.

All potential buyers must register as bidders with NHA prior to the auction date.   In order to register, potential buyers must

(i)

Register in accordance with the procedure set out on NHA's website (www.nethouseauctions.com).

(ii)

Pay their Solicitors/ Licensed Conveyancers the Commitment Deposit of 5% of the Guide Price for the property plus £250 Buyer's Premium.

(iii)

Arrange for their Solicitors/ Licensed Conveyancers to send to NHA the 'Buyer's Solicitors/Licensed Conveyancers' undertaking (available on www.nethouseauctions.com).

Upon receipt of the above, the prospective buyer will receive an authorisation e-mail with a unique bidder's authorisation code and bidder's I.D. and log-in details which will enable the registered bidder to activate the bidding zone.

6.

The registered bidder's I.D. and the unique bidder's authorisation code are specific to one individual lot and the bidder's I.D. will be shown adjacent to the bid amount on the live auction.

7.

It is the responsibility of the registered bidder to satisfy himself immediately prior to the commencement of the bidding that there are no amendments to the property details or legal pack and to make such enquiries as the registered bidder considers appropriate. Registered bidders are deemed to have knowledge of any such amendments and enquiries.

8.

The Seller must not accept any offer made within 48 hours of the auction closing time.

9.

To the extent permitted by law, NHA owes no duty of care regarding the Seller's Estate Agents' property details or the Seller's legal pack and has not been involved in the preparation of nor checked either of these.

10.

NHA reserve the right to refuse to allow a property to be auctioned using its electronic auction facility or to withdraw a property from auction if in its absolute discretion it considers such property to be unsuitable or such auction to be inappropriate.

11.

The auction of the property will be conducted on line.

12.

The auction will start 24 hours before the auction date and auction closing time shown on NHA's website.

13.

Bids will only be accepted from registered bidders.

14.

All bids are deemed inclusive of any VAT payable unless otherwise specifically stated on NHA's website.

15.

All properties are subject to a reserve price unless otherwise stated on NHA's website.

16.

Bids will only be accepted as an exact figure and in multiples of a minimum of £250.

17.

The auction will commence with bids accepted 24 hours prior to the auction closing time as specified on the NHA website and will continue after the auction closing time on a sudden-death basis terminating 45 seconds after the last bid is received with the winner being the maker of the highest bid equal to or above the reserve price.

18.

A registered bidder may bid manually or automatically.

19.

In the case of manual bidding, it is the responsibility of the registered bidder to transmit his bid to NHA's website. 

20.

In the case of automatic bidding, the registered bidder will have previously authorised NHA to bid £250 above any rival bids up to a maximum amount.  Depending on the other bids received, and in particular the steps in the bidding process, NHA may not be able to bid exactly up to the maximum previously authorised but will register an automatic bid as close to the maximum as it can in the circumstances.

21.

The bidder's I.D. will be shown adjacent to the bid amount on the live auction.

22.

In the event of two or more registered bidders instructing NHA to carry out automatic bidding to the same maximum figure, NHA will notify each of the relevant registered bidders by e-mail inviting them to amend their maximum figures.   If a tie remains, then priority will go to the registered bidder who first registered to bid on the particular property.

23.

The Seller may bid or instruct NHA or another agent to bid on the Seller's behalf up to the reserve price but may not make a bid equal to or exceeding the reserve price.

24.

In the event of a dispute, NHA's decision is final and binding.

25.

All registered bidders acknowledge and agree that the operation of the Internet is beyond the control of NHA and NHA does not warrant that the user will have  uninterrupted access.  NHA will have no liability to the Seller or any registered bidder should there be connection or internet problems at the time of the auction sale.

26.

Should there be technical problems with NHA's website at the time of the auction, NHA reserve the right to re-schedule the auction to a later time.

27.

Immediately after the conclusion of the auction sale, NHA will notify the Solicitors/Licensed Conveyancers for the Seller and the registered bidder whose highest bidder was equal to or above the reserve price the identity of the other party and their Solicitors/Licensed Conveyancers who must exchange Contracts under Law Society's Formula B with completion 28 days thereafter (or earlier by mutual arrangement) and pay the Commitment Deposit in accordance with their undertakings previously lodged with NHA.  At this stage, the sale and purchase will become legally binding.

28.

The measurements and areas referred to in the brief property details on NHA's website are approximate only.  The registered bidders should rely entirely on the legal pack supplied by the Seller's Solicitor/Licensed Conveyancer.

29.

The Guide Price is not an indication of the value of the property or of the reserve price.

30.

The registered bidders agree to

(i)

NHA sending their details to the Estate Agent representing the Seller and

(ii)

NHA sending details of other suitable properties to them.

31.

NHA's role is to:-

(i)

Conduct the electronic auction

(ii)

Register bids

(iii)

Bid on behalf of registered bidders who require them to bid automatically

(iv)

Declare the successful bidder who equals or exceeds the reserve price on the fall of the electronic hammer.

(v)

Notify the Solicitors/Licensed Conveyancers for the Seller and the successful bidder

32.

The law of England and Wales shall apply and the English and Welsh courts shall have sole jurisdiction.