Common auction conditions for real estate auctions
This document has been produced by RICS to set consistent practice across the industry.
Where the auctioneer is a member of RICS and uses the Common Auction Conditions, the auctioneer must also comply with the current RICS standards and guidance for Auctioneers selling real estate. An auctioneer who is not a member of RICS is not bound by this guidance.
You may use the Common Auction Conditions freely, but if you do you must:
Rely on your own legal advice as to their suitability for your use
Agree that the Royal Institution of Chartered Surveyors and those who advised it have no liability to you or anyone who relies on the Conditions
Reproduce the Common Auction Conditions in full or show clearly where you have made changes to them
Acknowledge that they are reproduced with the consent of RICS
State that you have used the Common Auction Conditions (4th edition)