The sale must be made subject to the occupier obtaining freeholder consent. This consent involves two key considerations:
•Age criteria: the occupier must have a minimum age of 55 (or less with a waiver from the local authority for a disability).
•Suitability: the court must be confident that they can accommodate the needs of the occupier.
In addition, freeholder consent confirms the following conditions:
•Companies cannot bid on the property
•Sub-letting will not be allowed so no buy-to-let brigade.
•The bidder must be the occupier unless they are buying for a direct relative (child for a parent).
Please refer to the legal pack for further information.
This property is offered for sale by online conditional auction by SBK Sales Ltd, trading as SBK Auctions. The property will, unless previously sold or withdrawn, be sold subject to the Special Conditions and General Conditions of Sale contained within the Auction Legal Pack. The Auction Legal Pack will be available to download by registered bidders.
The sale will take place online and is being sold with a fixed fee. If you are the successful buyer, you will enter into a Reservation Contract with the seller. Exchange and completion will normally be required within 56 days, unless varied by the auction terms or Reservation Contract.
If you are planning to purchase with finance, you should inspect and consider the property carefully with your lender before bidding. At the end of the auction, the buyer will pay a Reservation Fee to reserve the property.
Some sellers may consider a pre-auction offer and the lot may be sold before the auction.
The following non-refundable auctioneer's fees apply and will need to be paid to the auctioneer before the Reservation Contract is completed:
•Buyer's Reservation Fee of 4.2% of the purchase price including VAT, subject to a minimum of £5,000 plus VAT, being £6,000 inc. VAT
•Search pack of £336 inc. VAT
There may be additional costs listed in the Special Conditions of Sale, which will be available to view within the Auction Legal Pack. Buyers must read the Auction Legal Pack carefully and take professional advice before bidding.
The guide price is an indication of the seller's current minimum acceptable sale price and is given to assist interested parties in deciding whether or not to pursue their interest. The reserve price is the minimum price at which the seller has authorised the auctioneer to sell. The reserve price remains confidential between the seller and the auctioneer.
Where a guide price is shown as a range, the reserve price will be set within that range. Where a single figure guide price is shown, the reserve price will not be set more than 10% above that figure.
Both the guide price and reserve price can be subject to change at any time prior to the auction.
Plans shown are for identification purposes only.
The auctioneer understands that mains water, drainage and electricity are connected to the property, though these services have not been tested. Buyers are advised to make their own enquiries to confirm the connected services.
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The property is Leasehold. The lease term is for 990-year lease from 25th March 1984, meaning there are approximately 947 years unexpired. The auctioneer understand the service charge is £10,497.36 annually. The property is sold with vacant possession on completion. Please refer to the Legal Pack for further details.
If you would like to register to bid, please visit:
online.sheldonbosleyknight.co.uk
Once registered, you will be able to access the lot, complete the registration process and download the Auction Legal Pack. If you register before the Auction Legal Pack has been completed by the seller's solicitor, you will be notified once it has been uploaded.
All bidders must register before bidding, complete the required identity checks and be approved to bid.
If you would like details of our preferred solicitors, please contact the auction team and we can arrange for information to be sent to you.
It is essential that bidders check the legal documents prior to bidding and take professional advice. The legal pack may include searches, title documents, Special Conditions of Sale, tenancy information, planning documents, notices, replies to enquiries and other documents relevant to the lot.
Special Conditions of Sale can contain additional costs, being costs over and above the price the lot is knocked down at, and bidders are deemed to be aware of any additional costs prior to bidding.
Bidders must rely on their own inspection of the legal pack and any professional advice they obtain before bidding.
All viewings are by appointment only through the Auction Department.
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