2 bed Flat For Sale £155,000
Guide Price = £155,000+
*For Sale By Online PublicAuction 12th March 2024 08:45 AM. To inspect the legal documents for this property go to our website to download the legal pack*
A First Floor Two Bedroom Flat Offered with Vacant Possession
By Order of the Mortgagees NOT in Possession
Tenure
Leasehold. The property is held on a 99 year lease from December 1984 (thus approximately 59 years unexpired).
Location
The property is situated on a residential road close to local shops and amenities. The open spaces of XXX Park are within easy reach. Transport links are provided by XXXX underground station (XXX line) and XXXX rail station.
Description
The property comprises a first floor two bedroom flat situated within a mixed-used building arranged over ground and first floors. The property requires a program of refurbishment.
Accommodation
First Floor
Reception Room
Kitchen
Two Bedrooms
Bathroom
Accommodation
Note
Further Information
When purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. In most cases, the leaseholder must have owned the property for at least 2 years in order to serve a S42 notice. If you do not fully understand this process, please ask the auctioneers or a solicitor.
Addendum
Please note that this property is subject to a Buyers Premium of £1,250 inc VAT. This is in addition to the buyer's admin fee of £1,500 inc VAT charged by the auctioneers. Both fees are payable to the auctioneers.
*For Sale By Online PublicAuction 12th March 2024 08:45 AM. To inspect the legal documents for this property go to our website to download the legal pack*
A First Floor Two Bedroom Flat Offered with Vacant Possession
By Order of the Mortgagees NOT in Possession
Tenure
Leasehold. The property is held on a 99 year lease from December 1984 (thus approximately 59 years unexpired).
Location
The property is situated on a residential road close to local shops and amenities. The open spaces of XXX Park are within easy reach. Transport links are provided by XXXX underground station (XXX line) and XXXX rail station.
Description
The property comprises a first floor two bedroom flat situated within a mixed-used building arranged over ground and first floors. The property requires a program of refurbishment.
Accommodation
First Floor
Reception Room
Kitchen
Two Bedrooms
Bathroom
Accommodation
Note
Further Information
When purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. In most cases, the leaseholder must have owned the property for at least 2 years in order to serve a S42 notice. If you do not fully understand this process, please ask the auctioneers or a solicitor.
Addendum
Please note that this property is subject to a Buyers Premium of £1,250 inc VAT. This is in addition to the buyer's admin fee of £1,500 inc VAT charged by the auctioneers. Both fees are payable to the auctioneers.
