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12 Minster Drive, Small Heath, Birmingham, B10 0LD

Lot no: 132 Sold at Auction for £56,000
 

Guide Price in excess of £50,000 plus fees

Unconditional with Fixed FeeOn the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts and pay the applicable deposit and Buyer’s Fee stated on the property description, both of which are non-refundable. The deposit contributes to the purchase price. The Buyer’s Fee does not contribute to the purchase price. Completion must take place usually within 30 days, unless the Special Conditions of Sale within the legal pack state otherwise.

Thursday 15th February 2018

10.30am
Key Features
  • A Residential Investment Apartment
  • Current Gross Income: £5,760 pa.
  • EPC Rating: D
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Sold at Auction for £56,000

Flat

Property Description:

A first floor purpose built apartment, standing in communal grounds.

Ground Floor

Common Entrance Approach with Stairs to:-

First Floor

Apartment 12 - Entrance Hall, Lounge, Kitchen, Bedroom and Bathroom.

Outside

Communal grounds.

The property benefit of double glazing and electric heating.

Tenure

We understand that the apartment is Leasehold (see legal pack for Lease details) and is being sold subject to the existing tenancy.

Tenancy Details

The apartment is let on an Assured Shorthold Tenancy, at a rental of £480 per calendar month - £5,760 per annum.

Auctioneers Note

At the time of going to print, the Auctioneers had not had the opportunity to inspect the apartment internally and have not had sight of the tenancy agreement and therefore the accommodation tenancy details cannot be relied upon.

Viewings

Strictly by arrangement with the Auctioneers.

Tenure:

Leasehold. Subject to tenancy.



Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.

Binding contracts of sale will be exchanged at the point of sale.

All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.

Auction Deposit and Fees:

The following deposits and non- refundable auctioneer’s fee apply:

• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT

The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.

This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).

Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.