3 Bedroom, Mid Terraced House, 17 Wharfedale Road, Lancaster, LA1 5ND
Overview
Hammer Price Homes are pleased to present for sale by online auction this 3 bedroom mid terrace house in Lancaster. The sale is open for cash buyers only.
The property briefly comprises: To the ground floor, an entrance hallway leading to a lounge, kitchen, downstairs WC and rear porch area. To the first floor there is a landing leading to 3 bedrooms and a bathroom.
Outside there is a small front garden, and to the rear the property benefits from an enclosed garden.
The property requires full renovation throughout, and this sale is open for cash buyers only due to the condition, we feel it may be difficult to obtain lending via a traditional mortgage on the property. There will be no grounds for the buyer to withdraw from the sale with a return of the reservation fee citing issues around the condition of the property, for any issues in financing the purchase, for anything to do with the possessory title registration or for any concerning information within the searches. The property is sold as seen.
Please be advised that this is a probate sale and the deeds to the property have been lost, the vendor (administrator to the estate) and their solicitor have made an application with Land Registry to register the property with possessory title, the purchase will not be able to complete until that registration is completed. Please see the other information section for more information including indicative timings.
To view the property please visit the Hammer Price Homes website, register as a buyer and book in for a viewing.
Location
The property is well placed just over a 10 minutes’ walk to Lancaster City Centre offering close access to a broad range of shopping, eating and leisure facilities. The property is also very well placed for commuters, with Lancaster train station just a short walk and the M6 motorway around a 10 minutes’ drive away from here.
Special Conditions
This sale is open for cash buyers only as due to the condition, we feel it may be difficult to obtain lending via a traditional mortgage on the property. There will be no grounds for the buyer to withdraw from the sale with a return of the reservation fee citing issues around the condition of the property, for any issues in financing the purchase, for anything to do with the possessory title registration or for any concerning information within the searches. The property is sold as seen.
60 days to complete from property being registered with possessory title**
Tenure
Tenure – Freehold
Possessory title registration – Please be advised that this is a probate sale and the deeds to the property have been lost, the vendor (administrator to the estate) and their solicitor have made an application with Land Registry to register the property with possessory title. Once a sale is agreed, the vendors will inform Land Registry and ask that they expedite the application. Once the property is registered in the deceased’s name with possessory title, then the sale can be completed with the new buyer.
In regard to timings, whilst we would hope it will happen sooner, the buyer should allow approximately 4 weeks (28 days) from the memorandum of sale being issued, in order for the application of possessory title to be completed in the name of the vendor. Once the registered possessory title is received and sent to the buyer’s solicitor, then the buyer will then have 60 days to complete the purchase. The vendors will provide an indemnity policy that will cover the new buyer for any associated risks regarding the possessory title.
As there are no guarantees, should the possessory title application not be completed within 8 weeks (56 days) of the close of the auction, then the buyer will be able to withdraw from the sale with a return of the reservation fee, should they wish although extensions could potentially be agreed by both parties.
Other information
The Administrator / Solicitor dealing with the estate has never lived at the property and therefore has limited knowledge. The below information has been provided to the best of our knowledge and should not be relied on in full. Please note due to the nature of the property some of the services may be isolated.
Council Tax Band – A
EPC Rating – G
Utilities:
Primary source of Water Supply: Assumed Mains
Primary source of Electricity Supply: Assumed Mains
Primary source of Gas Supply: Mains Gas Supply (information taken from EPC Certificate)
Source/s of heating: Portable Electric Heaters Assumed (information taken from EPC Certificate)
Primary arrangement for Sewerage/Drainage: Foul and Surface water from the property drains into a public sewer (information taken from the Regulated Drainage & Water Search).
Searches
Searches are available for download from the Hammer Price Homes website prior to the bidding taking place. The winning bidder will be required to pay for the search pack which is £300 (Inc. VAT), this is payable at the same time as the reservation fee. Prospective buyers are to review all searches available prior to bidding.
Auction Details
** Open for cash buyers only. 60 days to complete from property being registered with possessory title****
Auction ends – Wednesday 9th October 2024 at 1:00pm (Subject to anti-sniping).
Bidding Window Opens – Monday 7th October 2024 at 12:00pm (Bidding will not be possible until this time).
Starting price – £64,000 (Reserve price is higher & unpublished, typically the starting price will be 15 – 20% below the Reserve figure as per our Buyer Terms)
Fees
All fees are payable by bank transfer only (we do not take card payments).
Reservation Fee – Please note that there is a Reservation Fee (3.6% Including VAT subject to a minimum fee of £3,600 Including VAT) payable by the buyer within 2 hours of winning the auction. The reservation fee does not constitute part of the sale price, this is the auctioneer’s fee and is to be paid over & above the sale price paid to the Vendor.
Searches –The buyer is required to pay £300 (Inc. VAT) for the search pack. This is payable at the same time as the reservation fee.
Viewings
To view the property please visit the Hammer Price Homes website, register as a buyer and book in for a viewing. Bidding is only permitted for those who have viewed. Viewers must stick to their time precisely.
How to make an offer
Offers can only be made via the online auction in the form of a bid once the bidding window has opened. No offers will be accepted outside of the auction process.
Once a sale has been agreed (STC) and a price agreed then no further price negotiation will take place. This sale price is fixed at the winning auction price and the buyer honoured to pay it. Any subsequent attempt by the buyer to contact the vendor direct to renegotiate on price would hold the buyer in breach of our terms. Should the buyer withdraw then they may have to forfeit the reservation fee. Please read the buyer terms and FAQ’s on the site for more details.
This is a probate property and is sold as seen. The Administrator / Solicitor dealing with the estate has never lived at the property so may not be able to answer the usual pre-contract questions or provide a property information form.
