Guide Price £90,000 2 Bedroom Flat Ref: 22583_26929458
FOR SALE BY THE MODERN METHOD OF AUCTION - Starting Bid £90,000 plus Reservation Fee.
With the benefit of no onward chain, this first floor Tyneside flat should be a property that will appeal to the first time buyer market. The accommodation briefly comprises of an entrance lobby, landing, lounge with feature fire surround, two bedrooms and a kitchen. There is a shared yard to the rear. The flat does have the benefit of double glazing along with replacement front door. Warmed with gas central heating via a combination boiler. The flat is well placed for access to local shops and public travel links to include the Metro service. An early viewing of the property is essential to assess the features and position the flat occupies.
This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately, but grant 28 days to achieve exchange of contracts from the date the buyers solicitor is in receipt of the draft contracts and a further 28 days thereafter to complete. Allowing the additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a non-refundable Reservation Fee of 3.5% to a minimum of £5,000.00 + VAT (£1,000.00) = (£6,000.00) which secures the transaction and takes the property off the market. Fees paid to the Auctioneer may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. Further clarification on this must be sought from your legal representative. The buyer will be required to sign an Acknowledgement of Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservati
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