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4 Cross Street, Market Drayton, Shropshire TF9 1JA

Lot no: 31 Re-entry to a future auction
 

Guide Price £60,000+ plus fees

Unconditional with Fixed FeeOn the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts and pay a 10% deposit (subject to a minimum of £5,000), along with a non-refundable Buyer’s Fee. The Buyer’s Fee is £1500, and completion must take place within 30 days, unless the Special Conditions of Sale state otherwise.

Thursday 26th November 2020

10.30am
Key Features
  • Recently renovated investment property
  • One bedroomed accommodation
  • Town centre location
  • Let at £260 per calendar month (£3,120 per annum) with potential for increase
  • EPC Rating: E
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Re-entry to a future auction

Terraced House

Property Description:

This recently renovated one bedroom investment property set in the town of Market Drayton is a great opportunity for a first time buyer and seasoned investors alike to buy a quality property in a much sought after location.

Currently with tenant in situ at £260 per calendar month (£3,120 per annum - AST to be renewed) the potential return on this one bedroomed house would be in the region of £5,000 per annum which would equate to a yield of 8.5% at the current guide price.

Tenure:

Freehold.


Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.

Binding contracts of sale will be exchanged at the point of sale.

All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.

Auction Deposit and Fees:

The following deposits and non- refundable auctioneer’s fee apply:

• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT

The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.

This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).

Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The 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.