Southsea, 2-bedrooms, terrace house, vacant
FOR SALE BY MODERN METHOD AUCTION - A vacant terrace house in Southsea to be sold by the modern method or conditional auction, the online bidding window is now open and will close at 1.00 PM Thursday 7 April 2022. The property is available to view.
Ideal for first-time buyers or buy-to-let investors this Southsea property is in good condition with double glazing, central heating, has an outside patio space and a large open-plan living room, dining area and kitchen. It has 2-bedrooms upstairs and a fully fitted shower room, the master bedroom has a large storage space. The property is leasehold with 120 years remaining in the lease.
Auction date:
To be sold by modern method or conditional auction, the online bidding window is now open and the auction will close at 1.00 PM Thursday, 7 April 2022
To view:
To view the property you need to set up your online bidding account and book in via email. A video tour is available.
Registration:
All bidders are required to register in order to be approved to bid and view the property. This can be done via the lot listing on our website via the 'Modern Method Auction Lots' page. Once registered you will be able to view and download the legal documents (when available), please note that in order to bid you will need to complete our Credas ID check (sent once you register) and have provided a payment card (from 26 March 2022 1.00 PM). You will also be sent the 'Modern Method Auction Terms and Conditions for signature in order to be approved to bid. For the avoidance of doubt in order to bid you will need to set up your online bidding account, confirm your ID through the Credas link, sign the terms and conditions and have viewed the property at one of the managed block views (unless previously viewed). Only the bidder needs to register, after the auction the bidder can nominate additional buyers or a company to be the buyer, please note that if the ID checks for these nominated persons are not received within 2-hours of the auction, the bidder will be noted as the buyer on the contract.
Location:
* Southsea * 0.6 miles to seafront * 1.2 miles to Portsmouth & Southsea rail station * 0.9 miles to Fratton rail station
Description:
* Terrace house * Leasehold * Good condition * Decked patio area * Fitted kitchen & shower room
Accommodation:
Ground floor: Open plan living room, dining area/kitchen
First floor: 2-bedrooms, shower room
Outside:
Enclosed private patio area with decking
EPC Rating:
D
Tenure:
Leasehold with vacant possession
Lease:
125 years from and including 1 January 2017 and to and including 31 December 2142
Local authority:
Portsmouth City Council
Council tax band:
B
Legal documents:
For each modern method auction lot there is legal documentation provided by the seller’s conveyancer. If you wish to view the legal documents, you will need to register an online bidding account via the link on our website. Once you have set up your online bidding account you will receive notifications by email as the legal documents are received from the conveyancer and uploaded
Guide prices:
Guide Prices are provided as an indication of each seller's minimum expectation. They do not necessarily set the figure that 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 will be set within a reasonable bidding range of the stated guide price.
Pre-auction bids:
Pre-auction bids will not be considered for this lot. The bidding will open on 26 March 2022 at 1.00 PM, once approved as a bidder (including having viewed the property), this is the soonest point that a bid can be made, if agreed by the seller a bid made before the closing on Friday 1 April 2022 at 1.00 PM can be accepted and the sale agreed early and the auction ended. Please note that in this case the terms and conditions of the modern method or conditional auction apply to the sale.
Fees and charges or Additional fees:
This property is sold subject to immediate payment of a non-refundable reservation fee fixed at £6,000 plus VAT = £,7,200 (this comprises of an auction entry fee of £1,250 plus VAT, a buyers fee of £1,250 plus VAT and a sales commission of £3,500 plus VAT - all to be paid by the buyer and fixed at £6,000 plus VAT = £7,200). Any successful bidder will pay this to secure the sale and become the buyer. See the modern method auction terms and conditions in your online bidding account, clause 6.
Online bidding:
In order to bid when the lot opens at 1.00 PM on Friday the 26 March 2022 (closes at 1.00 PM on Friday 1 April 2022), you will need to set up your online bidding account through the specific lot on our website under 'Modern Method Auction Lots'. Ensure you read our 'Modern Method Auction Terms and Conditions' carefully. In order to be approved to bid you will need to complete your online bidding account, you will need to confirm your ID and residency through a Credas link that will be emailed to texted to you, within a week of the auction (Saturday 26 March 2022 1.00 PM) you will need to upload a valid payment card and a hold will be placed on the reservation fee amount which is £7,200 for this lot (please note that when you win the bidding you are required to pay this and it will be taken directly from the card provided). If you do not win the bidding the hold will be released from your payment card and there will be no charges. The hold can only be released once the auction ends.
Method of sale:
Please note that the method of sale is by modern method auction, also known as a conditional auction, when the bidding ends or a pre-auction bid is accepted the winning bidder becomes the buyer by paying a non-refundable reservation fee and signing the reservation form or sale memorandum. This reservation fee does not form part of the purchase price. There will be an exclusivity period totalling 30-working days, with the following deadlines: within 5-working days of receiving draft contracts from the seller’s solicitor, the buyer must ensure that their nominated solicitor has raised initial enquiries in relation to the draft contract, in writing with the seller’s solicitor. Within 20-working days contracts are exchanged with completion set within 10-workings or a total of 30-working days from winning the auction. Please see the 'Modern Method Terms and Conditions' in your online bidding account.
* 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 8 - 5 Duncan Road, Southsea, Hampshire, PO5 2QT
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Agreement Documents
Additional Documents
Related Documents
Virtual Tour
Video tour - Lot 8Share
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