THE PROPERTY IS BEING OFFERED FOR SALE THROUGH THE MODERN METHOD OF AUCTION, WHICH IS OPERATED BY IAMSOLD LIMITED

*** BLOCK VIEWINGS BY APPOINTMENT Friday, 04 Oct 2024 (am) ***

*** STARTING BID: £195,000***  REQUIRING COMPLETE UPDATING. THIS TWO BEDROOM GROUND FLOOR FLAT/MAISONETTE (having own front door) and being all on one level, should prove an ideal first time/investment purchase. Internally there is an enclosed ENTRANCE PORCH leading to a KITCHEN/DINER requiring modernisation. INNER HALLWAY with access to SEPARATE LOUNGE, TWO BEDROOMS and BATHROOM. ALLOCATED PARKING SPACE. VACANT. 

LOCATION: 

The property is well placed for most amenities including local shops, schools and bus routes. Erith town centre is approximately 0.9miles where you will find a further selection of shops, Morrisons Supermarket, Bexley College and Erith Station (Zone 6) which is conveniently on the same line and only two stops from Abbey Wood - which now has the Crossrail (Elizabeth Line) running from it.   

TENURE:                  LEASEHOLD:

LEASE TERM:           999 years from 1988 (To be verified by Vendors Solicitor) 

LEASE REMAINING:  993 years (To be verified by Vendors Solicitor) 

SERVICE CHARGE:   £160 per month (To be verified by Vendors Solicitor) 

GROUND RENT:        Peppercorn/Nil (To be verified by Vendors Solicitor) 

EEC RATING:            D

TOTAL FLOOR AREA:  60 SQUARE METRES

LOCAL AUTHORITY:   BEXLEY

COUNCIL TAX BAND: B        

Auctioneer 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 Limited 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 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 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 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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