*****FOR SALE BY THE MODERN METHOD OF AUCTION*****(See full sales details for information) ATTENTION INVESTORS - PROPERTY HAVING TENANTS IN SITU Maisonette - Energy Performance Rating: D
For Sale by Modern Method of Auction; Starting Bid Price £50,000 plus Reservation Fee.
MODERN METHOD OF AUCTION
This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately, however from the date the Draft Contract is received by the buyers solicitor, the buyer is given 56 days in which to complete the transaction, with the aim being to exchange contracts within the first 28 days. Allowing the additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to make payment of a non-refundable Reservation Fee of 4.2% to a minimum of £6,000.00 including VAT 4.2% of the final agreed sale price including VAT. This is subject to a minimum payment of £6,000.00 including VAT. This secures the transaction and takes the property off the market. Fees paid to the Auctioneer may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. Further clarification on this must be sought from your legal representative. The buyer will be required to sign an Acknowledgement of Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation from and all terms and conditions can be found in the Buyer Information Pack which can be downloaded for free from the auction section of our website or requested from our Auction Department. Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the Starting Bid, both the Starting Bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction, which is operated by West Midlands Property Auction powered by IAM Sold. (Reservation Fee is in addition to the final negotiated selling price.)
Mortgage restrictions may apply to this property due to the property being above commercial premises.We would strongly advise any interested persons should speak with a mortgage advisor. Our offices can refer for you to speak with an advisor so please contact us on 0121 453 1051.
10' 10" x 6' 8" (3.30m x 2.03m)
13' 8" x 12' 5" (4.17m x 3.78m)
11' 10" x 10' 6" (3.61m x 3.20m)
10' 11" x 6' 10" (3.33m x 2.08m)
Tenure - We understand the property is LEASEHOLD
TERM OF LEASE - 99 years from 1 November 2003
SERVICES CHARGES - We are advised of a service charge as of January 2017 of £377.42 pa - We are advised of a ground rent as of January 2017 of £100 pa