Flat
A two bedroomed spacious flat located in Solihull within walking distance of Olton train station, and is centrally located between Solihull town centre and Birmingham city centre. The property benefits from having zero ground rent and service charges. We have been advised that the flat has been let until recently at £650 pcm, however the tenants are due to vacate on 15 March 2020 after being in occupation for 18 months. The property benefits from a garage which is let separately at £60 pcm. An ideal investment opportunity.
The Auctioneers have not inspected the property but believe it to comprise:
With spacious hallway.
Sold subject to tenancy generating £60 pcm.
We understand the flat will be sold with vacant possession upon completion and the garage is sold subject to tenancy producing £60 pcm (£720 per annum). A copy of the tenancy agreement will be provided within the legal pack.
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 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.
