For sale by Unconditional Online Auction.
On behalf of Andrew Downing Booth - Lichfield
Two Bedroom Mid Terrace House
CALLING ALL INVESTORS! With a little tidying here and there, this property could easily achieve an annual yield of over 6.5%, and that is based on the reserve price, not the guide price, and it also takes into consideration the reservation fee. The property sits on a quiet walk with superb access to Erdington centre and Erdington Train Station. The accommodation is spacious and needs a bit of tidying here and there, and comprises an entrance porch, open plan lounge diner, kitchen, utility area and guest WC. Upstairs are two good sized double bedrooms and a bathroom. The rear garden is enclosed and low maintenance. Coming with no upward chain, this seriously deserves a closer inspection, so book in your viewing today!
Entrance Hall A door with glazed panel inset opens from the porch to the lounge/diner which is fitted with a front facing UPVC double glazed bay window. There is a recess with a chimney breast housing space for a gas fire whilst the room is fitted with exposed timber floorboards and two radiators. A staircase leads up to the first floor accommodation whilst there is a rear facing UPVC double glazed window
Lounge/Diner A door with glazed panel inset opens from the porch to the lounge/diner which is fitted with a front facing UPVC double glazed bay window. There is a recess with a chimney breast housing space for a gas fire whilst the room is fitted with exposed timber floorboards and two radiators. A staircase leads up to the first floor accommodation whilst there is a rear facing UPVC double glazed window
Kitchen The kitchen is fitted with matching base cabinets and wall units whilst a further wall unit houses the gas fired central heating boiler. A stainless steel sink with chrome mixer tap is set into a granite effect work surface with tiled splashback whilst there is an integrated cooker and a four ring gas hob is set into the work surface with stainless steel extractor hood above. There is space for a tall fridge-freezer and the kitchen is fitted with a tiled floor, side facing UPVC double glazed window and radiator. A side facing exterior door with glazed panels inset opens out to the garden and a door opens through to a utility area.
Utility Area A small utility area houses space beneath the granite effect work surface for a washing machine whilst there is a radiator, tiled floor and a side facing UPVC double glazed window
Guest WC The guest wc comprises a white suite which includes a low level flush wc and pedestal wash hand basin. There is a tiled floor, radiator and a side facing UPVC double glazed window
Landing A staircase leads up to the first floor landing which has a radiator
Master Bedroom A good sized double bedroom is fitted with a radiator, front facing UPVC double glazed window and useful over-stair wardrobe.
Bedroom Two A second double bedroom is fitted with a cast iron open feature fireplace, radiator and rear facing UPVC double glazed window.
Bathroom The bathroom is fitted with a white suite which includes a low level flush wc, pedestal wash hand basin and panelled bath with chrome mixer tap and shower head attachment. There is a radiator, recessed ceiling spotlights and rear facing UPVC double glazed window.
Exterior A gate opens through to the front garden where there are a range of mature shrubs sitting in amongst a gravel area. To the rear is a small courtyard style garden which comprises a flagstone paved area with a gate providing rear access.
Tenure: See Legal Pack
EPC Rating: D
The auction for this property will be conducted online through our online-bidding platform. This is a "Timed Auction", so there are no other lots being sold alongside this property.
The timeslot for the auction is displayed on SDL Property Auctions' website. To view this, search for the property on their website. Then click onto the property to view the property details. The time remaining to bid and end date of the auction is displayed on the page.
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 Property Auctions' Buyers Terms (England & Wales) which are available on SDL Property Auctions website.
Auction type - Unconditional with Variable 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 15 business days unless the Special Conditions of Sale contained within the Legal Pack state otherwise.
The following non-refundable fees apply:
Buyer's Fee - payable on exchange of contracts. This is calculated as a percentage of the actual purchase price of the property. Either:
(a) 4.8% (including VAT) of the purchase price, for properties up to and including £250,000
(b) 3.6% (including VAT) of the purchase price for properties sold for over £250,000
The Buyer's Fee is subject always to a minimum of £6,000 (including VAT). The Buyer's Fee does not contribute to the purchase price.
On exchange of contracts, you must pay a non-refundable deposit equal to 5% of the actual purchase price of the property, subject to a minimum of £5,000. The deposit contributes towards the purchase price.
When you register to bid, you will be prompted to provide your payment details to SDL Property Auctions. In the event that you are the winning bidder, your card will automatically be charged a proportion of the Buyer's Fee & Deposit. The payment will be calculated based on the guide price of the property, in line with the fee scale described above. Where the actual purchase price is higher than the guide price, you will be required to pay the difference immediately after the end of the auction, which can be paid by debit card or bank transfer. Payment by cash or cheque will not be accepted.
Example: You win the bid on a property with a guide price of £150,000, but the actual purchase price is £170,000. At this point your bid is successful you will be charged as follows:
Buyer's Fee of £7,200 - 4.8% of guide price
Deposit of £7,500 - 5% of the guide price
As the actual purchase price amounted to £170,000, after the auction, you will be required to pay the following additional amounts on top of the initial payment:
£960 for Buyer's Fee shortfall (£8160 due as 4.8% of actual purchase price)
£1,000 for Deposit shortfall (£8500 due as 5% of actual purchase price)
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.
To view the legal pack, first search for the property on SDL Property Auctions' website and click onto the property to view the property details. There will be a sub-heading "Legal Documents". Underneath this, you will be prompted to "Log in to view the legal documents". Follow this link, 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. 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 Property 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.
To register to bid on the property, search for the lot on SDL Property Auctions website. Click onto the property, follow the link to "Log in/register to bid" , and you will then be directed to create an account with the online-bidding platform provider, EIG.
Andrew Downing Booth - Lichfield
By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.
If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.