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2 bed Flat property

Sold subject to contract (SSTC)

For Sale

Listed May 22, 2024

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£70,000

Sold subject to contract (SSTC)

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Description

" Sold for £90,000. Guide Price = £70,000+ **For Sale By Public Auction 21st May 2024 09:30 AM To inspect the legal documents for this property go to our website www.auctionhouselondon.co.uk to download the legal pack** A First Floor Three Room Maisonette Subject to an Assured Shorthold Tenancy Producing £15,000 Per Annum Tenure Leasehold. The property is held on a 64 year lease from 24th June 1972 (thus approximately 12 years unexpired). A section 42 notice to extend the lease will be served prior to completion, the rights of which would be assigned to the incoming buyer. Location The property is situated on a residential road close to local shops and amenities. The open spaces of Wilmot Park are within easy reach. Transport links are provided by Crayford rail station. Description The property comprises a first floor three room maisonette situated within a semi detached building arranged over ground and first floors. Accommodation First Floor Three Rooms Kitchen Bathroom Exterior The property benefits from a rear garden. Tenancy The property is subject to an Assured Shorthold Tenancy at a rent of £1,250 per calendar month. Note The property has not been inspected by Auction House London. All information has been supplied by the vendor. Further Information When purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. In most cases, the leaseholder must have owned the property for at least 2 years in order to serve a S42 notice. If you do not fully understand this process, please ask the auctioneers or a solicitor. EPC Rating Open House Viewings To Be Confirmed Monday 20 May 10:00 - 10:30 "