For Sale by Modern Method of Auction; Starting Bid Price £25,000 plus Reservation Fee.
This property is for sale under traditional auction terms and should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited. With this auction method, an immediate exchange of contracts takes place with completion of the purchase required to take place within 28 days from the date of exchange of contracts. On exchange of contracts, the buyer is required to make payment of a 10% deposit, sign a reservation agreement and make payment of a non-refundable Reservation Fee of 4.2% of the final agreed sale price including VAT. This is subject to a minimum payment of £6,000 inc VAT and is paid in addition to the agreed purchase price. The Reservation Fee will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. The Reservation Fee is paid in addition to the final negotiated selling price. The Reservation Fee will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability.
This property is marketed with a Buyers 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 and a prudent buyer is expected to view the property and complete their own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained with this pack. The winning buyer will also make payment of £300 inc VAT towards the preparation cost of the pack, where it has been provided by iamsold. Bidders will be required to register and go through an identification verification process with iamsold Limited and provide proof of how the purchase would be funded.
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. 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 benefit you; 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, please be aware that the Auction Coordinator or Partner Agent may receive payment for the recommendation. Where this is the case, the Partner Agent and Auctioneer will inform you of any referral arrangements and any payment they will receive, prior to any services being taken by you. Read more
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