Apartment
Property Description:
DRAFT DETAILS
Two bedroomed ground floor apartment let at £7,800 per annum.
Occupying a corner position within this popular development, this two bedroomed apartment offers a fantastic yield of 17% (based on the Guide Price).
Locally, the area is popular with both young families and modern professionals whom enjoy the various shopping and leisure amenities within easy reach.
Glasgow City Centre is approximately 15 minutes away by car and offers a further selection of popular leisure/recreational destinations. Great Western Retail Park is also within close proximity. A full local bus network services the immediate area and the M8 motorway can be accessed via the Clydeside Expressway or Clyde Tunnel.
The Auctioneers have not inspected the property internally and viewings will not be possible.
Note
We understand the property has been split to make three bedrooms, however we are unaware if this has been done in line with any building / planning regulations and prospective buyers are advised to make their own enquires.
Tenure:
See Legal Pack. Subject to tenancy.
Viewings:
To book a viewing, please contact SDL Auctions to arrange.
Auction Method:
This auction is for property located in Scotland; therefore, any sale will be governed by applicable Scottish law.
The auction for this property will take place as an “Auction Event” behind closed doors with a live auctioneer and will be streamed online in real-time. The property will be sold alongside several other lots. Bids must be placed remotely.
The auction date applicable for the property is displayed underneath the property description. It is not possible to provide a precise timeslot when this property will be auctioned on the day, because there are other lots being sold.
You are required to undertake identity checks before you can be authorised to bid. You must also provide your payment details. If you do not provide this information, your registration will not be processed.
When you place your bid, you are deemed to have agreed to SDL Auctions’ Buyers Terms (Scotland) which are available on SDL Auctions website.
Auction type- Unconditional with Fixed Fee
If you are the highest bidder, you must exchange legally binding contracts for the sale when the auction for the property comes to an end. You must then pay the applicable fees and deposit. You must complete the sale within 20 business days unless the Special Conditions of Sale contained within the legal pack state otherwise.
Auction Fees
The following non-refundable fees apply:
Buyer’s Fee- payable on exchange of contracts. This is usually £1074 including VAT, subject to the Special Conditions of Sale. This fee does not contribute towards the purchase price of 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 Special Conditions carefully before bidding. Any additional fees are included at the seller’s discretion, not on the instruction of SDL Auctions, and will be in addition to any fees payable to them. SDL Auctions has limited control over the content of the Special Conditions of Sale.
Deposit
On exchange of contracts, you must pay a non-refundable deposit equal to 10% of the actual purchase price of the property, subject to a minimum of £5,000. The deposit contributes towards the purchase price.
Payment Method:
Applicable fees must be paid immediately after a winning bid has been placed. SDL Auctions do not accept payment by cash or cheque. Prior to the auction, they will email you to register your card details with their third-party provider, Stripe. Your card details will be stored on their secure online payment platform. Payment will only be taken from you in the event of a winning bid. In this case, you will be contacted by one of SDL Auctions’ representatives to make payment. If they cannot make contact with you within 24 hours after the auction ends, SDL Auctions reserve the right to charge your card.
Legal Pack
Before bidding, you must view the legal pack for the property. This is the collection of legal documents that apply to the sale. The documents will include but are not limited to: Special Conditions of Sale, title documents from the Land Registry and Energy Performance Certificate.
The legal pack can be viewed on SDL Auctions website by searching for the property. On the property details page, there is a sub-heading “Legal Packs”. Follow this link, and you will then be directed to create an account with Auction Passport to view the documents.
The legal pack can change at any time up until the auction starts so you must check for the most recent version of the legal pack. An addendum may be issued outlining any late changes. At the point of placing your bid, you are deemed to have read the legal pack in its entirety, including any changes. Failure to check for changes to the legal pack will not be a valid reason for withdrawing from the sale.
It is strongly recommended that you instruct a qualified professional to review the legal pack and raise any necessary enquiries before bidding.
Special Conditions of Sale
The property is sold subject to any Special Conditions of Sale. These are contractual conditions that are included by the seller of the property - they are not part of SDL Auctions’ terms and conditions. The Special Conditions of Sale are legally binding. You are taken to have read and accepted these at the point of bidding, even if you have not done so. The Special Conditions of Sale are available to read in the legal pack.
Home Report
A home report will be provided for residential properties and will give you a better understanding of the nature and condition of the property. The home report will contain: a survey assessing the condition of the home and valuation, an energy report, and property questionnaire.
The home report can be viewed alongside the legal pack on SDL Auctions’ website. Search for the property and click onto the property details, there is a sub-heading “Legal Packs”. Follow this link, and you will then be directed to create an account with Auction Passport to view the documents.
Articles of Roup
The Articles of Roup are the general terms of sale for properties sold at auction in Scotland that will govern this transaction. They are available to view on SDL Auctions website.
The Auction Conditions listed on the website do not apply to properties sold under any of the Scottish sale methods.
Registration Process:
To register to bid on the property, visit the SDL Auctions website and submit your remote bid. The lot number can be found against the Lot Details of the property. Prospective buyers must register no later than 12pm the day before the auction date. If you register after the cut off, it cannot be guaranteed that your registration will be processed.
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.
