Apartment
AUCTIONEERS NOTE -
The auction type for this lot is now Conditional with reservation fee. The purchaser must meet a certain criteria with Accord Housing, set out in point 5 of the Accord Shared Ownership Handbook within the legal pack. For clarity, the property is only available to first time buyers who cannot otherwise afford to purchase a property within their own community; job movers who cannot afford to purchase a property outright; people needing to move due to medical conditions who cannot afford to purchase a property outright, household income not exceeding £60,000. Priority is given to existing social housing tenants, MOD Personnel and local priorities as set by the local authority. Purchasers will be given 28 days from the auction date to exchange contracts and provide evidence that they meet the criteria.
A one bedroomed first floor flat located within walking distance to Walsall Arboretum. We have been informed by the vendor that the property could be let at £400 per month totalling £4,800 per annum, making this an ideal investment opportunity.
The property is a 75% shared ownership with Accord Housing. We have been informed by the vendor that Accord Housing charge £145.30pcm (consisting of £79.49 for rent and £65.81 service charges). Interested parties are advised to check the legal pack for clarification.
Leasehold.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Conditional with Reservation Fee (England and Wales).
Contracts of sale will not be immediately exchanged. As the successful buyer, you will enter into a 40 business-day exclusivity agreement with the seller, in which to exchange contracts and complete. Please refer to our Auction Conduct Guide for further information on our auction types and sale methods.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Fees:
The following non- refundable auctioneers fee applies:
• Reservation Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
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 Price
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.
