2 Bedroom First Floor Flat, 63 Milcote Road and Garage, Solihull, B91 1JW
Overview
Hammer Price Homes are pleased to present for sale by online auction this vacant & chain free, 2 bedroom flat with garage in Solihull.
The property has a short lease (43 years remaining) which makes it unmortgageable, for this reason this is auction is open to cash buyers only. See other information section for further details.
The property briefly comprises: To the first floor there is a small entrance hallway leading to a large living room, kitchen, 2 bedrooms and a bathroom with separate W.C.
Outside there are well maintained communal gardens. The property also benefits from having a garage providing off street parking, please be advised that the communal parking spaces are for visitors only.
The property is in need of enhancement and would be suited to those looking for a modernisation project.
To view this property please visit the Hammer Price Homes website, register as a buyer and book your place on an open day.
Location
The property is located just a short stroll from Solihull’s thriving Town Centre with its array of bars, restaurants and shops. Solihull Hospital and Solihull train station are also within walking distance from here as are a number of green open spaces, including the popular Tudor Grange Park.
Special conditions
Cash buyers only. Please note that there will be no grounds to exit the sale with a return of the reservation fee if you withdraw for any reasons surrounding the ability to finance the purchase or for reasons surrounding the short lease or the lease extension, see the other information section for more details.
Other Information
Tenure: Leasehold (43 years remaining)
Lease extension costs: Lease extension costs have not been attained prior to marketing. Any attempt to extend the lease should be agreed / negotiated with the freeholder post completion. The vendors are willing to issue a section 42 and assign the benefit on to the new buyer if required; the buyer would be responsible for paying all the vendors associated legal fees surrounding a section 42. There are a number of lease extension calculators available online with costs to extend the lease expected to be in the region of £40,000 to £50,000. Please do your own research in regards to possible costs and consult with surveyors / solicitors if necessary.
Maintenance charges: The anticipated service charge expenditure for the period 29th September 2020 – 28th September 2021 is £1,795, this is payable in 2 half yearly instalments at £897.50. A breakdown of the anticipated service charge is attached, and includes a large reserve fund contribution.
Ground rent: £45 per annum
Auction Details
** Open to cash buyers only. 90 days to complete, no deposit payable**
Please note that there is a Reservation fee (2.4% Inc. VAT subject to a minimum of £3,000 Inc. VAT) payable by the buyer on 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.
Auction ends – Wednesday 7th July 2021 at 1pm
Bidding Window Opens – Monday 5th July 2021 (Bidding will not be possible until this time)
Starting price – £84,000 (Reserve price is higher & unpublished, typically the starting price will be 15 – 20% below the Reserve figure as per our Buyer Terms)
Viewings
We are working within government safety guidelines at all times, hosting tightly controlled open days. This property is vacant which means we should comfortably be able to follow social distancing guidelines.
We allow a maximum of 2 bookings per 15 minute time slot. Attendees are allowed to bring one other person with them to a viewing provided that they are within the same household /support bubble.
Viewers must to stick to their time precisely, and keep to the 2 metre rule if in the property at the same time as another viewer.
The wearing of face masks are required at this current time so viewers are asked to ensure they bring one with them, our host may have a small supply with them for those that have forgot to bring one. We will endeavour to supply hand sanitiser fluid at entrance and exit. Viewers are responsible for keeping up to date with local Government restrictions/guidelines and following them appropriately.
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 vendors / solicitor may not be able to answer the usual pre-contract questions
