Purchasing A Title Through Manorial Auctioneers Ltd.

Manorial Auctioneers TERMS AND CONDITIONS Conduct of the Auction, Roup, Private Treaty This will be broadly in accordance with the standard Conditions of Sale (4'h Edition) and copies of these Conditions and Special Conditions of Sale are available from the Auctioneers by post, or will be exposed for inspection in the Auction Room, if an auction, or at the offices of the auctioneers. The highest bidder shall be the buyer, or such price as may be agreed between the Auctioneers and the intending purchaser and seller. Any dispute shall be settled at the absolute discretion of the auctioneer. Every bidder shall be deemed to act as principal unless arrangements by an agent have been made in advance with the Auctioneers. Manorial Auctioneers shall be the agent of the vendor for the purpose of making the Contract. In the case of private treaty the receipt by Manorial Auctioneers of a 20% deposit and part payment forms a contract between buyer and seller. Reserve Prices The sale is subject to reserve prices and the vendors have agreed that the auctioneer may bid up to the reserve price without declaring such price. A reserve once placed by the vendor shall not be changed without the consent of Manorial Auctioneers. Withdrawn Lots No responsibility is accepted by the Auctioneers towards intending purchasers for any lot that is withdrawn for whatever reason. Intending purchasers should telephone the Auctioneers on the morning of the sale to check that a lot in which they are interested is still for sale. In the event that a vendor withdraws a lot for any reason from auction or private treaty, Manorial Auctioneers reserves the right to charge a fee of 35% of Manorial Auctioneers latest estimate, or middle estimate, together with value added tax thereon, and expenses incurred in the relation to the property. Seller's commission is 15% of the sale price plus VAT. Buyer's Premium The buyer shall pay to Manorial Auctioneers a premium of 20% on the price together with the value added tax at the standard rate on the premium. Deposits A deposit and part payment of 20% (not subject to value added tax) of the price shall be paid to Manorial Auctioneers Client Account, as agent to the vendor. Having cleared the deposit cheque, the Auctioneers shall be entitled to deduct their agreed commission, plus VAT, from the deposit before forwarding any balance to the Vendor's Solicitors. The receipt of the deposit and part payment by Manorial Auctioneers forms a contract between the buyer and the seller. Root of Title Upon receipt of an owner's instructions to sell a property, we shall carry out research and investigation into the Lordship or Barony, for its marketing and promotion. It may be that the owner's deeds and documents of title are sufficient alone to prove legal title to sell. Our research and investigation will often disclose historical details and events and descents of former owners through the centuries. We may be able to show historic rights to market and fair, wreck, free warren which often enhance the value in the eyes of potential purchasers. On the other hand, there may be no deeds or such deeds as there may be do not show good legal title. Title may have lain dormant for many years and the owner's title deeds and documents make no reference to the property. This is not unusual as the Law of Property Act (1922) effectively took away the day-to-day income of Lordships and they were subsequently seen, until recently, as having no value with the result that they are not referred to in family papers or title deeds and documents. In this case, our investigation and research will not only address historical details, events, and descents, but will also aim to unearth sufficient material to form the basis of a Statutory Declaration which will either become the owner's title to sell or will support such documentary title as the owner may have. In this way, we shall give all assistance to the owner's solicitor in his establishing title to sell the property. Whatever the particular circumstances, we shall, as a result of an owner's instructions, engage ourselves in time-consuming research and investigation. If the title is offered through us for sale at auction or by private treaty, and a sale is achieved then we would make no charge for this work of research and investigation, and would look for no more than our sale commission. The cost of the work would be considered by us to be covered by the sale commission. But it may be that once we have established all supporting information or, as the case may be, a title to sell, the property is for one reason or another not subsequently sold by private treaty or offered for sale at auction through us, or sold unilaterally by the vendor. In this case, we reserve the right to require payment for the work we shall have done as a result of an owner's instructions. Any such' payment will not be less than 35% of our last estimate or middle estimate of value of the property, and such sum would become payable on demand. Pre-Auction Offers Pre-Auction offers will only be accepted if the offerer pays by means of cheque, credit card, cash, or direct transfer, a deposit and part payment of 20% of' the agreed purchase price ( not subject to value added tax) and a premium of 20% of the agreed purchase price (plus value added tax) to the Auctioneers as agents to the vendor for the purposes of signing the Memorandum of Contract only, and shall sign the Memorandum of Contract. VAT does not apply to non-EU residents. Absentee, Telephone and Postal Bids If bidders are unable to attend the Auction, they may appoint an agent, who must inform the Auctioneers that they are acting as an agent on behalf of a named principal. The interests of intending purchasers are best served by attendance at the Auction, but if this is not possible, Manorial Auctioneers will, if so instructed, bid on their behalf. This service is free. Lots will be bought as cheaply as allowed by such other bids and reserves as are on our books. In the event of identical bids, the first will take precedence. Always indicate a "top limit" — the amount to which you would bid if you attended the Auction yourself. Such bids should be set out on the Postal Bid Form enclosed with this catalogue and accompanied with a cheque, cash, or direct transfer as shown on the Postal Bid Form. A telephone bidding service is available by contacting Manorial Auctioneers. Pre-Auction bids and Auction Room bids may be settled by Mastercard, American Express, and Visa. Intending bidders wishing to pay the deposit and buyers premium in this way are requested to inform the Auctioneers in advance so that arrangements can be made, thus avoiding delay in the Contract Room. Foreign cheques will not be accepted unless arrangements have been made in advance with the Auctioneers. Currency Conversion Manorial Auctioneers will credit foreign monies at the prevailing rate on the day they are converted into sterling. Any shortfall shall be paid to Manorial Auctioneers on demand, and any excess will be applied to the completion amount of the Lot bought. Estimates Estimates are intended as a guide for prospective purchasers. Any bid within the listed figures would, in our opinion, offer a fair chance of success, but all Lots, depending on the degree of completion, can fetch higher or lower prices than the estimates. The Catalogue While every effort has been made to ensure accuracy in catalogue particulars, no responsibility can be accepted by the Auctioneers, Vendors, their Agents or Solicitors for any errors that may inadvertently occur. The statements and descriptions contained in the particulars are given as a general outline only for the guidance of intending purchasers and do not constitute any part of an offer or contract and, while they are believed to be correct, any intending purchasers should not rely on them as statements or representations of fact, and their accuracy is not guaranteed. Intending purchasers should satisfy themselves by their own investigations, inspections, searches, and otherwise as to the correctness of each of them. References in the particulars as to the geographical extent of :a Lot is given for historical interest. Any rights referred to in the particulars being part of or any rights which may be associated with Lordships, Baronies, and Seignories are to be taken as historical. The operable historic rights associated with their purchase must be legally established by each new owner. Manorial Document Rules The Lots in any catalogue are offered for sale subject to the Manorial Document Rules 1959 (No 1399); the Manorial Documents (Amendment) Rules 1963 (No 976); and the Manorial Documents (Amendment) Rules 1967 (No 963), copies of which may be applied for from the Auctioneers. These rules are mainly concerned with the safe custody of the documents. Where documents are associated with Lots, their location and where they may be inspected by appointment, are given after the particulars for further historical research. Intending purchasers should consult their Solicitor before bidding at an auction or offering for private treaty. Manorial Auctioneers Ltd No: 2426054 V A T No: 5478264 10