Regulations and Non-Optional Fees

Bagshaws LLP have been trading successfully in the Midlands since 1871 and our reputation for integrity is very important to us.

The complex nature of the work we carry out, justify the stringent guidelines that we adhere to. As RICS and CAAV accredited members, we can be relied upon to work to the best industry standards.

Client Money Protection

As an RICS regulated firm we are required to advise you that all financial transactions at the sale are conducted with Bagshaws LLP acting as Principal.  If any monies are held on your account, they will be deposited with the Royal Bank of Scotland, Uttoxeter Branch account Bagshaws LLP No. 5 Clients Account.  This is an interest bearing account with any interest being retained to offset Bank charges.  The RICS Client Money Protection Scheme will apply to all monies held in this account.  This scheme, which includes regulatory reviews, is a free service provided to clients of RICS-regulated firms. Details of this scheme can be found the RICS website.

Money Laundering Regulations 2007

In order to comply with Money Laundering Regulations 2007, all auction purchasers must provide two forms of identification.  This means that a passport or driving licence together with a utility bill for proof of address at the time of signing the contract.  We are also unable to accept cash in sums greater than €15,000.  Please contact the auctioneers to discuss methods of cash payment prior to the sale.

Auction Prices

Some of the particulars on this website contain details about properties being sold at auction. Those details are subject to change up to and including the day of the auction. Please check our website and look out for any additional materials available on the day of the auction, in order to stay fully informed with the up to date information.

For the assistance of prospective purchasers, the following are definitions relating to the Guide Price and the Reserve Price;

Guide Price: An indication of the Agent’s opinion of value and the seller’s current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is sometimes the case that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

Reserve Price: the seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the immediately prior to the auction.

Non-Optional Fees for Tenants - Residential Lettings

When you rent a residential property through Bagshaws LLP, non-optional charges will be payable.  This statement aims to give a clear understanding to potential tenants of the charges payable, when they apply and how they are calculated.  These charges are excluded from the advertised rent.  When you apply to rent a property, the following costs apply (some may apply in certain situations only).

Referencing fee: Charged at £60 including VAT per person.  This fee is non-refundable and applies to anyone over 18 taking on the tenancy (excludes dependent's e. children of the tenant who are over 18).

Tenancy admin fee:  Charged at £150 including VAT, (one fee per tenancy) once references have been returned as satisfactory. This fee is to cover administration work including preparing the tenancy agreement and lodging the deposit.

Guarantor Fee:  Charged at £60 including VAT.  This fee is non-refundable.

Inventory Fee:  You will not be charged for a contribution to the preparation of the Inventory and Record of Condition.

Deposit:  This is usually equal to one month's rent plus £100.  If the property you are renting has a monthly rent of £600 then the deposit will usually equal £700 unless the landlord requests a higher deposit to be taken.  We will clearly state the deposit for each property in the property details.

RICS Valuer Registration Scheme

Bagshaws' valuers are not only professional members of the RICS, but also members of the RICS Valuer Registration Scheme. Valuer Registration is a quality assurance mechanism that monitors all registered RICS members who carry out 'Red Book' valuations and ensures consistent standards.

By appointing an RICS Registered Valuer, you can be confident that you are working with regulated and qualified professionals who:

• adhere to the 'Red Book' valuation standards

• are committed to openness and transparency

• are experts in their field, delivering credible and high-quality reports.

Valuer Registration aims to ensure the quality of valuations, raise the credibility of valuers and provide clients with a clearly identifiable designation of international standards, quality and the consistent application of 'Red Book' standard.

Complaint Handling Procedure, Terms of Business and Conditions of Sale

Whilst we strive to always provide a professional and personal service to our clients, on the rare occasion where expectations are not felt to be met, we operate a stringent complaints handling procedure.

What to do if you are dissatisfied with our service -

We aim to offer all of our clients an efficient service, however, as a regulated RICS firm, we have in place a CHP (Complaints Handling Procedure), which meets the regulatory requirements. Our CHP has two stages and explains how to proceed if you have a complaint or are otherwise dissatisfied with the service that this firm has provided.

Stage one of the CHP gives our firm the opportunity to review and consider your complaint in full. Our firm will try to resolve your complaint to your satisfaction. If you are not happy with our response, you will have the opportunity to take your complaint to stage two. Stage two gives you the client, the opportunity to have your complaint reviewed and considered by an independent redress provider, approved by the RICS.

Stage One

If you have spoken to us about your complaint, please put the the details of your complaint in writing. We ask that you put your complaint in writing to make sure that we have a full understanding of the situation and reasons for your complaint.

Please send your written complaint to:

Alastair Sneddon (Senior Partner)

Bagshaws LLP

The Agricultural Business Centre

Bakewell

Derbyshire

DE45 1AH

Tel No: 01629 812777

Email: alastair.sneddon@bagshaws.com

We will consider your complaint as quickly as possible, and will acknowledge receipt of your complaint within 7 days. If we are not able to give you a full response, we will update you within 28 days.

Stage Two

If we are unable to agree on how to resolve your complaint then you have the opportunity to take your complaint to an independent redress provider, as approved by RICS Regulatory Board. We have chosen to use the following redress providers, dependent on your situation:

For Consumer Clients (a person acting outside the course of any business of their own) the contact details are:

Ombudsman Services: Property

PO Box 1021, Warrington, WA4 9FE

Tel: 0330 440 1634 Fax: 0330 440 1635 Text phone 0330 440 1600 Website www.ombudsman-services.org/property.html

For Business-to-Business clients, the contact details are:

RICS Regulation

Surveyor Court, Westwood Way, Coventry, CV4 8JE

Tel: 020 7695 1670 Email: regulations@rics.org Website

www.rics.org/complaints

Bagshaws Terms of Business – Bakewell Livestock Market

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Bagshaws Conditions of Sale 2016

Download the latest copy of our Conditions of Sale