MODERN METHOD OF AUCTION
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 buyer's solicitor is in receipt of the draft contracts and a further 28 days 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 4.2% to a minimum of £6,000.00 including VAT 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 Reservation from and all terms and conditions can be found in the Buyer Information Pack which can be downloaded for free from the auction section of our website or requested from our Auction Department. Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the Starting Bid, both the Starting Bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction, which is operated by West Midlands Property Auction powered by IAM Sold. Reservation Fee is in addition to the final negotiated selling price.
To View or Make A Bid - Contact Robert Oulsnam - Rubery Branch On[use Contact Agent Button] or visit www. agentauctionpage.co.uk
* For Sale By Auction - T & C's Apply
* Subject To An Undisclosed Reserve Price
* Reservation Fee Applicable
* The Modern Methold Of Auction
* First Floor Flat
* Secure Entrance To Block
* Communal Hall With Stairs Leading To Flat 119
* Double Bedroom
* Auction Link:
14' 11" x 10' 3" (4.55m x 3.12m)
11' 9" x 9' 1" (3.58m x 2.77m)
12' 2" x 10' 3" (3.71m x 3.12m)
7' 7" x 5' 8" (2.31m x 1.73m)
The gas central heating boiler is located in the kitchen.
We understand the property is LEASEHOLD.
The seller informs as of June 2019 the service and maintenance charges are £241.00 per annum
The seller informs as of June 2019 the ground rents is £10.00 per annum
Birmingham City Council
TERM OF LEASE
The lease is 125 years from 2004
We advise any prospective purchaser ask their conveyancing solicitors to check the lease information.