1 bed Flat For Sale, Castle Wynd South, Edinburgh EH1

Description

For sale by auction: A vacant 1-bedroom ground floor apartment within 500 ft of Edinburgh Castle, measuring 495 sqft and in need of modernisation. The property has been previously tenanted and offers both a resale and yield potential to the winning bidder. The property will be conditionally sold by auction on Friday 12 August 2022, bidding will be by means of a 2-hour online bidding window, opening at 10.00 and closing at 12.00.

Auctioneer's comments: "This lot offers a unique opportunity to buy a property near the iconic Edinburgh Castle, these apartments rarely come up and this one suits investors looking for resale or yield."

Auction Date

To be sold by public auction via a 2-hour online bidding window on Friday 12 August 2022, bidding will open at 10.00 and close at 12.00.

To View

There will be 2-managed block viewings of 30-minutes each, in order to book please first set up your online bidding account and you will be emailed a Calendly link to book into one of the viewing blocks. The planned managed block viewing dates are * Tuesday 9 August 2022 at 13.00 * Thursday 11 August 2022 at 15.00.

Registration

All bidders are required to register in order to be approved to bid. This can be done via the lot listing on our website via the 'Traditional Auction Lots' page. Once registered you will be able to view and download the legal pack (when available), please note that in order to bid you will need to complete our Credas id check (sent once you register) and have provided a payment card the week of the auction. Only the bidder needs to register, after the auction, the bidder can nominate additional buyers or a company to be the buyer, please note that if the id checks for these nominated persons are not received within 2-hours of the auction, the bidder will be noted as the buyer on the contract.

Description

* 1-bedroom * In need of modernisation * 495 sqft

Location

* 489 ft to Edinburgh Castle * 0.5 miles to Edinburgh Waverley rail station * 0.4 miles to National Museum of Scotland

Accommodation

Comprises:

Ground Floor

Bedroom, bathroom, kitchen

Outside

Communal entrance, communal gardens

Epc Rating

To be confirmed

Tenure

Freehold with vacant possession

Local Authority

City of Edinburgh Council

Council Tax Band

C

Legal Pack

For each traditional auction lot there are special conditions of sale and other documentation provided by the sellers’s conveyancer. If you wish to view and download the legal pack, you will need to register an online bidding account via the link on our website. Once you have set up your online bidding account you will receive notification by email when the legal pack is received from the conveyancer

Guide Prices

Guide Prices are provided as an indication of each seller's minimum expectation. They do not necessarily set the figure that a lot will sell for and may change at any time prior to the auction. Each lot will be offered subject to a reserve, (a figure below which the auctioneer cannot sell the lot during the auction) which will be set within a reasonable bidding range of the stated guide price.

Pre-Auction Bids

These must be made in writing by email and will only be considered when an online bidding account has been set up, including the id confirmation and a payment card uploaded to the account. Pre-auction bids are on the basis of the terms of the auction, this means an immediate exchange of contracts upon acceptance with a 10% deposit as well as the buyer's fee listed.

Auction Fees

A sale commission of 2% plus VAT (min. £3,500 plus VAT) and buyer’s fee of £2,500 plus VAT is payable on each lot you buy, in addition to the sale price. Please be aware there may be additional fees, including disbursements in the legal pack payable on completion. Please ensure that you check the legal pack for each lot that you are interested in, prior to bidding.

Online Bidding

In order to bid when the lot opens you will need to set up your online bidding account through the specific lot on our website under 'Current Auction Lots'. Ensure you read our 'Auction Buying Guide' carefully. In order to be approved to bid you will need to complete your online bidding account, you will need to confirm your id and residency through a Credas link that will be emailed to texted to you, and within a week of the auction you will need to upload a valid payment card and a hold will be placed on the security deposit amount listed for this lot (please note that when you win the bidding you are required to pay the 10% deposit and the auction/buyers fee, once the security deposit is taken you will be invoiced by email for the immediate payment of the balance).

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1 bed Flat For Sale £170,000 Castle Wynd South, Edinburgh EH1

1 bed Flat For Sale £170,000
Castle Wynd South, Edinburgh EH1