1. The lot
1.1 The lot, including any rights granted and reserved, is described in the special conditions.

1.2 The lot is sold subject to all subsisting tenancies, but otherwise with vacant possession on completion.

1.3 The lot is sold subject to all matters contained or referred to in the documents (except financial charges: these the seller must discharge on or before completion) and to such of the following as may affect it, whether they arise before or after the contract date and whether or not they are disclosed by the seller or are apparent from inspection of the lot or from the documents:

(a) matters registered or capable of registration as local land charges

(b) matters registered or capable of registration by any competent authority or under the provisions of any statute

(c) notices, orders, demands, proposals and requirements of any competent authority

(d) charges, notices, orders, restrictions, agreements and other matters relating to town and country planning, highways or public health

(e) rights, easements, quasi-easements, and wayleaves

(f) outgoings and other liabilities

(g) any interest which overrides, within the meaning of the Land Registration Act 2002

(h) matters that ought to be disclosed by the searches and enquiries a prudent buyer would make, whether or not the buyer has made them

(i) anything the seller does not and could not reasonably know about and where any such matter would expose the seller to liability the buyer is to comply with it and indemnify the seller against liability.

1.4 The seller must notify the buyer of any notices, orders, demands, proposals and requirements of any competent authority of which it learns after the contract date but the buyer must comply with them and keep the seller indemnified.

1.5 The lot does not include any tenant’s or trade fixtures or fittings.

1.6 Where chattels are included in the lot the buyer takes them as they are at completion and the seller is not liable if they are not fit for use.

1.7 The buyer buys with full knowledge of:

(a) the documents whether or not the buyer has read them

(b) the physical condition of the lot and what could reasonably be discovered on inspection of it, whether or not the buyer has inspected it.

1.8 The buyer is not relying on the information contained in the particulars or in any replies to preliminary enquiries but on the buyer's own verification of that information. If any information is not correct any liability of the seller and any remedy of the buyer are excluded to the extent permitted by law.

2. Deposit
2.1 The amount of the deposit is the greater of:

(a) any minimum deposit stated in the catalogue (or the total price, if this is less than that minimum), and

(b) 10% of the price exclusive of VAT.

2.2 The deposit:

(a) must be paid to the auctioneers by cheque or banker’s draft drawn on a UK clearing bank or building society (or by such other means of payment as they accept)

(b) is to be held as stakeholder unless the special conditions provide that it is to be held as agent for the seller.

2.3 Where the auctioneers hold the deposit as stakeholder they are authorised to release it and any interest on it to the seller on completion or, if completion does not take place, to the person entitled to it under the conditions.

2.4 If a cheque for the deposit is not cleared on first presentation the seller is entitled to treat the contract as at an end and bring a claim ag