An amendment or addition to the previously published information concerning the subject lot. This can be made available via the website, and/or announced at the auction by way of a printed sheet. The purchaser will buy on the understanding that the lot is subject to the addenda and that the purchaser is deemed to be aware of them.
This ‘Glossary of Terms’ – those commonly used in the realm of property auctions, is monitored and updated regularly to remain a current reference point.
If there are any terms that you have come across which we have not included here and you are unclear about, please do get in touch and we will be happy to provide you with a clear explanation and add the new term to our list.
For more information on buying or selling at a property auction, have a read of our guide to buying at auction.