3-bedroom maisonette, off road parking, 978 year lease, 1147 SQFT
SOLD BY AUCTION FOR £54,000: A 3-bedroom maisonette in Pelaw, Gateshead in need of modernisation with off road parking and arranged over 2-floors with front and rear access. Ideal for builders and developers. To be sold by public auction with online bidding on Friday 24th September 202, bidding will open at 11.00 and close at 13.00 (2-hour bidding window).
Auction date
To be sold by online auction on Friday 24th September 2021, bidding will open at 11.00 and close at 13.00.
To view
Internal managed block viewings will be conducted in accordance with the Government guidance on social distancing, you do not need to book and the managed block viewings will be open for 2-hours at the following times: * Tuesday 21 September 2021at 13.00 to 15.00 * Thursday 23 September at 13.00 to 15.00. No viewings will be permitted outside of the
listed dates and times.
Registration
All bidders are required to register in order to be approved to bid. This can be done via the lot listing on our website.
Location
* Pelaw, Gateshead * 0.5 miles to Heworth Metro Rail Station * 3.8 miles to Newcastle upon Tyne * Road access via A184
Description
* Vacant * 3-bedrooms * Maisonette * Leasehold 978 years * In need of modernisation and repair * Off road parking
Accommodation
Comprises:
First floor
Lounge, dining room, kitchen, bathroom, access to rear stairs
Second floor
3-bedrooms
Outside
Off road parking for 1 car, access to the rear of the property
EPC rating
E
Tenure
Leasehold with vacant possession
Local authority
Gateshead Metropolitan Borough Council
Legal pack
For each lot there are Special Conditions of Sale and other documentation provided by the vendor’s solicitors. If you wish to
receive the Legal Pack, you will be able to register for this via the link on our website. You will receive notification by email once the Legal Pack is received from the solicitor.
Guide prices
Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a lot will sell for and may change at any time prior to the auction. Each lot will be offered subject to a Reserve, (a figure below which the Auctioneer cannot sell the lot during the auction) which we expect will be set within the Guide Range, or no more than 10% above a single figure Guide Price.
Additional fees
A buyer’s fee of £1,250 plus VAT is payable on each lot that you buy, in addition to the sale price. Please be aware there may be other additional fees, including disbursements contained in the legal pack payable on completion. Please ensure that you check the legal pack for each lot that you are interested in, prior to bidding.
Online bidding
In order to bid when the lot opens at 11.00 on Friday the 24th September 2021 (closes at 13.00 the same day) you will need to set up your online bidding account through the specific lot on our website under 'Current Auction Lots'. Ensure you read our 'Auction Buying Guide' carefully. In order to be approved to bid you will need to complete your online bidding account, ,you will need confirm your ID and residency through a Credas link that will be emailed to texted to you, within a week of the auction you will need to upload a valid payment card and a hold will be placed on the security deposit amount which is £5,000 for this lot (please note that when you win the bidding you are required to pay the 10% deposit and the buyers fee of £1,250 plus VAT, once the £5,000 is taken you will be invoiced by email for the immediate payment of the balance). Completion will be specified in the special conditions contained the legal pack (this pack is found for download in your online bidding account).
Method of sale
Please note that the method of sale is by auction, an immediate and unconditional exchange of contracts when the auction ends under the terms of the V4 Common Auction Conditions. As if purchased in an auction room, simply an online bidding format. This is NOT a private treaty of tender sale (NOT 'modern method of auction'). The £5,000 security deposit paid when the auction ends is NOT a fee and will form part of the total owed on sale of a 10% deposit and buyers fee of £1,250 plus VAT. EXAMPLE: if you win the bid when the auction ends for £100,000, £5,000 will be taken immediately from your card and you will be invoiced for the balance of the deposit and fee which will in this example be an additional £6,500. On completion the balance of £90,000 (plus other costs in the special conditions and standard legal costs such as stamp duty) will be paid through your solicitor as your 10% will have been sent by us to the seller's solicitor. FAILURE TO COMPLETE WILL MEAN THE LOSS OF YOUR DEPOSIT AS WELL AS FURTHER POTENTIAL PENALTIES AS PER THE COMMON AUCTION CONDITIONS.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Lot 2 - 2 Fairfield Terrace, Pelaw, Gateshead, Tyne and Wear, NE10 0QR
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Agreement Documents
Additional Documents
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