Since the launch of the first edition in May 2002, the members of the RICS Real Estate Auction Group have been greatly encouraged by the support for the RICS common auction conditions shown by auctioneers.

The take up has been faster and more widespread than was originally anticipated. Equally pleasing, and critically important, has been the support the conditions have received from the legal profession. Many vendors’ solicitors are using the template, which is either available from the auctioneers themselves or downloadable free of charge from the downloads panel on the righ.

This edition has been written in response to the feedback and suggestions we have received since 2002. We have tried to incorporate all the suggestions made where we believe they reflect the original aims of the conditions. It may be worth reminding ourselves of the original reasons for the launch of the conditions.

1. To strike a balance between the contractual needs of the seller and the buyer while recognising that the seller will wish to determine the principal terms under which they wish to sell

2. To make it easier to see all the contract terms by having one document that embodies all the terms within it rather than by reference to other documents such as the ‘Standard conditions of sale’

3. To ensure the contract is as user-friendly as possible by adopting simple headings and by using plain English

4. To increase the convenience of going to auction for the benefit of sellers and buyers, by providing a common set of conditions for all auctioneers in England and Wales

5. To reduce the legal costs to buyers and sellers by using a contract that is in common use, that is easy to read and understand and that comes with a simple to complete legal form for the property-specific special conditions of sale

6. To highlight differences in the general conditions used by individual auctioneers, through the need to indicate separately any extra general conditions of sale. To ensure that the conditions evolve to meet the current needs of the market place, a steering group has been set up under the auspices of RICS. The group, which comprises auctioneers and solicitors, will meet regularly to consider feedback and make recommendations for future editions.

If you have reason to use these conditions, please give us your feedback. You have valuable part to play in ensuring that we continue to achieve our aims. Finally, I would like to acknowledge and thank Paul Clark for his immense contribution to the creation of these conditions.

Richard H Auterac
Chairman of RICS Real Estate Auction Group
October 2005