3. What are the special conditions to contract ?
Due to the nature of an auction, there is no cooling off period and once the hammer is knocked down, both parties are contracted to complete the transaction. To do this, you (vendor) has to authorise us to exchange contract with the buyer and the buyer must appoint us as its attorney to accept the exchange in order to bind both parties. This special condition is whereby we KHAI KWAN (being a legal practice) is empowered to act on behalf of both parties is necessary otherwise the contract may not be consummated. To avoid delays, the deposit (10% usually) must be banked in immediately unless otherwise agree by both parties . Note there is generally a cooling period of 5 working days for non-auction arrangements (private sale or buy out in Violater.com). 
