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For sale by Modern Method of Auction; Starting Bid Price £130,000 plus Reservation Fee This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately, however from the date the Draft Contract is received by the buyers solicitor, the buyer is given 56 days in which to complete the transaction, with the aim being to exchange contracts within the first 28 days. Allowing the additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to make payment of a non-refundable Reservation Fee of 4.2% to a minimum of £6,000 including VAT 4.2% of the final agreed sale price including VAT. This is subject to a minimum payment of £6,000 including VAT which secures the transaction and takes the property off the market. Fees paid to the Auctioneer may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. Further clarification on this must be sought from your legal representative. The buyer will be required to sign an Acknowledgement of Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found in the Buyer Information Pack which can be downloaded for free from the auction section of our website or requested from our Auction Department. 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. Terms and conditions apply to the Modern Method of Auction, which is operated by Yorkshire Property Auction powered by IAM Sold. Reservation Fee is in addition to the final negotiated selling price. This property is for sale by the Yorkshire Property Auction powered by iam-sold Ltd +++A block of 5 flats located in the heart of Scarborough town. The property currently leasehold with a term of 74 years remaining on the lease which can be extended at a cost via the Leasehold Reform Act to 164 years. The flats are mostly tenanted and have recently undergone improvements inline with new regulations. The property has further potential including a possible penthouse with sea views subject to obtaining the necessary planning permissions. In brief the accommodation comprises of five flats ; four one bedroom units plus a generous two bedroom flat. The flats are laid out over three floors and the second and third floors benefit from some sea and castle views. Fully let the property could generate in excess of 25k per annum. The property does require some refurbishment, great potential for the right investor.+++ Viewing is strictly by appointment only with CPH Property Services call 01723352235 or visit www.cphproperty.co.uk
A shared private gated entrance to the block is located back from St Thomas Street
LOUNGE/KITCHEN with window, corner cupboard, TV point, electric fire, kitchen area with a range of base and wall units, stainless steel sink unit and spotlights. BEDROOM with electric wall heater and window BATHROOM shower cubicle with electric shower, hand basin and W.C
LOUNGE/KITCHEN with bay window and two side windows, tiled fireplace, electric fire, TV point, kitchen area divider with a range of base and wall units, and enamel sink unit BEDROOM with electric wall heater and window BATHROOM shower cubicle and electric shower, hand basin and W.C
LOUNGE/KITCHEN with bay window, TV point, kitchen area divider with a range of base and wall units BEDROOM with electric wall heater and window BATHROOM shower cubicle with electric shower, hand basin and W.C
LOUNGE with three windows, fire place and TV point KITCHEN with a range of base and wall units, electric oven and hob, stainless steel sink unit, plumbing for dishwasher and plumbing for automatic washing machine BEDROOM ONE with window and electric wall heater BEDROOM TWO with window and electric wall heater BATHROOM with corner bath, electric shower over bath, hand basin and W.C
Comprises a lounge, kitchen, bedroom and bathroom, potential to create a Sea View dormer penthouse subject to planning
The property is Leasehold with a term of 74 years remaining. We have been informed by the vendor that the lease is extendable to 164 years under the Leasehold Reform Act this will incur additional costs. Ground rent is payable at a peppercorn rent of £10 per annum.