Farquhar Road, Edgbaston, B15 2QL
For Sale Under The Hammer via the Modern Method of Auction. Low lease of 49 years. Located on the desirable Calthorpe Estates in close proximity to both the Birmingham University & Queen Elizabeth Hospital.
For Sale Under The Hammer via the Modern Method of Auction which is not to be confused with traditional auction.
Guide Price £127,500 plus Reservation Fee. A two bedroom apartment with NO CHAIN, VIEWINGS VIA AGENT.
Davidson Estates are delighted to present this two bedroom apartment comprising of secure communal building entrance and porch leading directly into a spacious lounge and fitted kitchen, two good size double bedrooms, family size bathroom with overhanging shower with separate WC, and ample storage. Located on the first floor and benefits from UPVC throughout.
The property is located on the first floor and benefits from residents parking in the development car park, a garage and UPVC double glazing throughout.
This is a fantastic investment opportunity located on the desirable Calthorpe Estates and in close proximity to both the Birmingham University & Queen Elizabeth Medical Centre.
We are notified by the vendors that there is 49 years remaining on the lease meaning it may be difficult to obtain a mortgage, therefore we are only considering cash buyers. You will need to own the property for a further two years before applying for a lease extension or arrange for the vendor to start the process in order to speed up the process. You will need to make your own enquiries as to the cost of the lease extension.
Service charge: circa. £2,000 pa
Ground rent: £40.00 pa
Years remaining on the lease: 49 years
Potential rental income of £850.00 pcm
See Legal Pack on www.underthehammer.com
CONDITIONS OF SALE
The Conditions of Sale 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.
*START PRICES & 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 is issued solely as a guide so that a buyer can consider whether or not to pursue their interest.
By arrangement with the partner agents or can be booked online at www.underthehammer.com
EPCs can be viewed in full on our website www.underthehammer.com on the sales details page or in the legal pack.
CONDITIONAL ONLINE AUCTION DETAILS
Every online bidder must first create an account at www.underthehammer.com/account/create/. This is a very quick and simple process. Once you have registered, you will be able to search, download legal documents, arrange viewings and contact the Agents, Auctioneers and the solicitors if you have queries on the property.
This property is for sale Under The Hammer 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 which allows you up to 56 days to complete on the property which means interested parties can proceed with traditional residential finance.
If you are the successful bidder, at the end of the specified time period, you’ll enter into a reservation agreement with the seller and have 28 days within which to exchange. If you fail to do so, you may lose your reservation fee. During the 28 day reservation period, the seller is not able to accept other offers.
The sale of each Lot is subject to a reservation fee (additional to the purchase price) of 3.5% + VAT (4.2% inc VAT) subject to a minimum £5,000 +VAT (£6,000 inc VAT). The reservation fee does not contribute towards the purchase price. 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. This will be specified in the reservation contract.
Full terms and conditions are available at www.underthehammer.com
- For Sale Under The Hammer
- Close proximity to Queen Elizabeth Medical Centre
- No Chain
- Use of residents car park
- CASH BUYERS ONLY - 49 years remaining on lease
- Investment opportunity
- Easy transport links into Birmingham City Centre
- Located on the 1st Floor
- Walking distance Birmingham University