House For Sale Lowcay Road, Southsea, PO5

£4,000

Auction Property
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We appreciate the listed price showing isn’t necessarily the price you would buy this property for, as it is in auction. However, we hope some confidence can be gained from our system successfully being able to identify this as potentially below market value.
Last Updated: 20th May 2024

Description

** For Sale By Online Auction** Pre Auction Offers Considered**\r
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Freehold interest only. Ground Rent investment and potential for future lease extension. Notices to leaseholders to be raised upon sales agreement as required.\r
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2 leases for 14A & 14 B\r
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14A, lease expires 2115\r
* 92 years left on lease\r
* Total Ground Rent due until lease expiry, £54,000\r
* 18 years at £150, 25 years at £300, 35 years at £600, 24 years at £1200\r
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14B, lease expires 2115\r
* 92 years left on lease\r
* Total Ground Rent due until lease expiry, £54,000\r
* 18 years at £150, 25 years at £300, 35 years at £600, 24 years at £1200\r
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Modern Terms & Conditions -\r
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This property is for sale via Online Auction. This is a modern twist on the traditional auction room sale where buyers can bid for the property via an online platform. The winning bidder, assuming the reserve is met, is granted exclusivity of the property at the winning bid price for 28 days in which they must exchange, or the vendor is free to remarket the property and the reservation fee will not be returned. The auction will run for 3 hours on a set date and time chosen by the vendor of the property. Upon completion of a successful auction the winning bidder will be required to pay a non-refundable reservation fee of 3% inclusive of VAT of the winning bid in addition to the purchase price subject to a minimum fee of £2,400 inclusive of VAT. The auction is powered and carried out by Whoobid and is subject to terms & conditions which will form part of the auction pack which will be available to download for free once produced by the vendors legal representatives. We strongly recommend that you review the legal documents prior to bidding and seek legal advice. PLEASE REMEMBER THAT THE RESERVATION FEES ARE PAYABLE IN ADDITION TO THE SALE PRICE.\r
Fees paid to the auctioneer may be considered as part of the chargeable consideration and may attract stamp duty liability. Bidders will be required to register in order to download the 'legal pack', if you choose to bid on the property you will be required to complete further identity checks for anti-money laundering purposes, provide card and solicitors details before you are able to place a bid. Properties may be sold prior to public auction if an offer is accepted by the vendors.\r
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**Guide price - This is an indication of the seller's minimum expectations at auction and is not necessarily the figure the property will achieve but acts as a guide, prices are subject to change prior to the auction.\r
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**Reserve price - Most auctions will be subject to a reserve price, if this figure is not achieved during the auction then the property will not be sold. In normal circumstances the reserve price should be no more than 10% above the guide price.
Agent Details
Whoobid
Wilson House Lorne Park Road, Bournemouth, BH1 1JN

Investment Analysis

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Calculators

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Mortgage
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Legal - YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.

Property Forecaster are working in partnership with Midland Mortgage Bureau Limited. Midland Mortgage Bureau Limited is an appointed representative of The Right Mortgage Ltd, St Johns Court,70 St Johns Close, Knowle, B93 0NH, which is authorised and regulated by the Financial Conduct Authority. Midland Mortgage Bureau Limited financial Services Register number is 756490. The Right Mortgage Ltd Financial Services Register number is 649443.
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Potential Return-on-Cash Invested