* Leasehold
* For Sale by Modern Auction
* T & c’s Apply
* Subject to Reserve Price
* Buyers Fees Apply
* The Modern Method of Auction
* Central Location
* Leasehold Property
* Handy For Metro
* Close To Tynemouth
* Investment Opportunity
***** investment opportunity*****
For sale by Modern Method of Auction: Starting Bid Price £50, 000 plus
Reservation Fee
This property is for sale by The Great North Property Auction powered by iam -
sold.
A great property for the first time buyer or perhaps the professional landlord
looking to release rental income. The property is a recent conversion to
residential status. The block forms multiple flats over a number of floors.
This flat is based on the third floor and briefly comprises; secure entry
hall, lounge and modern open plan kitchen area which offers wall and floor
units along with fitted hob and oven. There is a bathroom WC with three piece
suite and a double bedroom.
The location of this property is without doubt extremely central and a
fabulous variety of local amenities are within easy reach including cafes,
bars and restaurants. The A1058 Coast Road is close by so you have a direct
route to the coast or Newcastle City Centre. There are good links to public
transport facilities including prime bus routes and the Metro service. For the
growing family the property is well positioned for access to very well -
regarded schools. A great market is available in Tynemouth Metro Station which
has a wide variety of products and foods.
Interested parties are urged to arrange a prompt internal viewing. For more
information and to book a viewing please call out Tynemouth branch on .
Tenure
The agent understands the property to be leasehold. However, this should be
confirmed with a licenced legal representative.
Council Tax band *A*
**Living Room / Kitchen**
**Bedroom One**
**Bedroom Two**
**Auctioneer's Comments**
This property is for sale by the Modern Method of Auction. Should you view,
offer or bid on the property, your information will be shared with the
Auctioneer, iamsold.
This method of auction requires both parties to complete the transaction
within 56 days of the draft contract for sale being received by the buyers
solicitor. This additional time allows buyers to proceed with mortgage finance
(subject to lending criteria, affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a
non - refundable Reservation Fee. This being 4. 2% of the purchase price
including VAT, subject to a minimum of £6, 000. 00 including VAT. The
Reservation Fee is paid in addition to purchase price and will be considered
as part of the chargeable consideration for the property in the calculation
for stamp duty liability.
Buyers will be required to go through an identification verification process
with iamsold and provide proof of how the purchase would be funded.
This property has a Buyer Information Pack which is a collection of documents
in relation to the property. The documents may not tell you everything you
need to know about the property, so you are required to complete your own due
diligence before bidding. A sample copy of the Reservation Agreement and terms
and conditions are also contained within this pack.
The buyer will also make payment of £300. 00 including VAT towards the
preparation cost of the pack, where it has been provided by iamsold.
The property is subject to an undisclosed Reserve Price with both the Reserve
Price and Starting Bid being subject to change.
Referral Arrangements
The Partner Agent and Auctioneer may recommend the services of third parties
to you. Whilst these services are recommended as it is believed they will be
of benefit; you are under no obligation to use any of these services and you
should always consider your options before services are accepted.
Where services are accepted the Auctioneer or Partner Agent may receive
payment for the recommendation and you will be informed of any referral
arrangement and payment prior to any services being taken by you.

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