The PLA is one of the PSG’s consultees and to that end have been approached by the PSG for comments on the PSG’s draft Scottish Common Auction Conditions (SCAC) and guidance notes attached – prior to 6 September 2019.
The PSG has been monitoring the increasing popularity of sales by auction, and, in tandem with this, the use of Common Auction Conditions (CAC). The CAC were launched in 2002 and are now in their 4th edition, subject to RICS copyright. They are intended for use in sales by auction in England and Wales, and a number of real estate auction houses now use them as their general conditions.
The aims of the CAC were and still are, to increase the attractiveness of auctions for buyers and sellers by standardisation, clear language and layout, simplifying the production of special conditions and attempting a fair balance between the competing interests of buyers and sellers.
Sales by auction have been a longstanding part of Scottish conveyancing. The PSG considers that there is merit in having a Scottish version of the CAC, which act as articles of roup, so that the benefits of standardisation can be enjoyed and also to provide a familiar and consistent structure to those bidders from south of the border. The PSG has therefore produced Scottish Common Auction Conditions (SCAC) that reflect the approach and format of the CAC, while taking account of jurisdictional differences.
The PSG has adopted a similar approach to that it recently took on kilting the MCL lease in that it has not tried to innovate on the CAC and limited its amendments to where there are differences in law and practice which may need to be addressed.
To allow the PLA too feed back to the PSG prior to the 6th September deadline, views from members are invited by 30th August 2019, by email to either Gillian.firstname.lastname@example.org or email@example.com