FOR SALE BY CONDITIONAL ONLINE AUCTION in partnership with SDL Auctions
Full terms and conditions are available on the SDL Auctions website.
INVESTORS - DO NOT MISS THIS! Potential rental yield of 9%
Located in the Fawdon area of Gosforth. Popular for commuting into Newcastle as close proximity to the A1 and major bus routes. 10 minutes from Gosforth high streets, local supermarkets and schools.
This second floor apartment boasts space and potential for the avid investor or a first time buyer. Offering a spacious lounge area, fitted kitchen with dining space, family bathroom and 3 double bedrooms, this property should not be overlooked and viewings are highly recommended to appreciate the value for money.
The communal building has intercom entrance, lift access and parking.
Potential rental income for this apartment would be 450pcm with a rental yield equalling 9%.
Tenure: See Legal Pack
The legal pack will be available online at least seven days prior to sale ending and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to the end of the auction.
Guide Prices and Reserve Prices
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Start Price. The Start Price, also known as a Guide Price, is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms which is available to download on our SDL Auctions website.
Online Auction Registration Every online bidder on SDL Auctions must first create an account on the online section of the SDL Auctions website - sdlauctions.co.uk/property-auctions/online/
This is a straightforward process. Starting the registration includes filling out your personal details, verifying your email address, and accepting the Online Auction Terms and Conditions. Once you have done this you will be able to search, watch lots and download legal documents.
After starting the registration process you can come back to it to complete at a later date. We suggest completing the registration process at least 3 working days before the lot is due to end, in case you have any problems and need to contact the auctioneers.
In order to bid, you will need to be authorised for money laundering purposes. This includes uploading copies of two forms of identification and passing a anti-money laundering check. This check will leave a soft footprint on your credit report (but it should not affect your credit rating). The registration process also requires card details to be entered, however the card will not be processed unless you are the successful bidder.
Conditional Online Auction Procedure If you are the successful bidder you will be legally obliged to buy the property for the full purchase price. You will enter into a reservation agreement with the seller and have 40 business days within which to exchange and complete. If you fail to do so, you may lose your reservation fee. During the 40 business day reservation period the sale is secure and the seller is not able to accept other offers. By placing a bid, you are authorising the auctioneer to sign the reservation agreement on your behalf. The sale of each Lot is subject to a reservation fee of 4.8% Inc VAT (or 4.2% Inc VAT in London), subject to a minimum of 6,000 Inc VAT. The reservation fee does not contribute towards the purchase price. We will automatically charge you a minimum fee of 6,000, unless stated otherwise above (using the payment details provided at the registration stage) if you are the successful bidder, as payment towards a reservation fee. Where applicable, you will be required to pay any outstanding amounts of the reservation fee immediately after the end of the auction, which can be paid by debit card or bank transfer.
Full terms and conditions are available on the SDL Auctions website - sdlauctions.co.uk/wp-content/uploads/2019/04/SDL-Auctions_buyer-terms.pdf