Flat
An investment property located in an extremely popular part of Birmingham with an income potential in excess of £8,000 per year.
This one bedroom first floor apartment has the potential to be turned into a 2 bed by making use of the current reception room as a bedroom, and is located opposite the extremely sought after Stratford Road.
Rarely available and extremely popular, viewings are available and demand will be high, so booking a viewing is highly advised. As well as registering to bid in the auction is highly recommended.
The seller has advised us the ground rent is £25 pa, the service charge is £535 pa and the length of lease is 99 years from 25th March 1979. Please refer to the legal pack for confirmation.
Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
Leasehold. Vacant possession upon completion.
£25
54
£536
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 Variable Fee (England and Wales).
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 auctioneers fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers 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 Buyers 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.
