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37a, 37b, 37c Front Street West, Wingate, Co Durham, TS28 5AA

Lot no: 47 Sold at Auction for £42,000
 

Guide Price £38,000+ 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 14th February 2019

11.30am
Key Features
  • A freehold detached investment property
  • Converted into three separate flats
  • Rental income of £6240 per annum with scope to increase
  • EPC Rating: G, G & G
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Sold at Auction for £42,000

Block of Apartments

Property Description:

A detached freehold property which has been converted into three separate flats.

Tenure

We understand that the property is Freehold and is being sold subject to existing tenancies.

Tenancy Details

Two of the three flats are on a rolling contract at £265 per calendar month, the third is currently vacant. Full details will be available in the legal pack.

Auctioneers Note

At the time of going to print the auctioneers had not had an opportunity to inspect the property and therefore the accommodation details should not be relied upon.

Tenure

We understand the property is Freehold and is being sold subject to existing tenancies.

Tenancy Details

Two of the three flats are let on assured shorthold tenancies at £260 pcm each, the third being currently vacant. Full lease details will be available within the legal pack.

Auctioneers Notes

At the time of going to print the auctioneers had not had an opportunity to inspect the property and therefore the accommodation details should not be relied upon.

Viewing

Strictly by appointment with the auctioneers.

Tenure:

Freehold. Part let/part vacant.



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.