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Pre-auction Marketing
  • Traditional Auction
  • Leasehold
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1 bed Apartment

Hamilton Avenue, HALESOWEN, West Midlands, B62 8SG

  • 1 bedroom
  • 1 bathroom
  • 1 reception
  • Starting bid: £80,000

Hicks Hadley - West Midlands : 0121 585 6667

Hicks Hadley Estate Agents

Property overview

**TENANT PAYING £600PCM **
**SOLD BY AUCTION**
Modern one bedroom, first floor maisonette style apartment on the popular
Abbeyfield's Estate; excellently located for schools, transport links and all
local amenities. The property briefly comprises: entrance hall, spacious
lounge, fitted kitchen, bathroom and double bedroom. The property further
benefits from a private garden at the rear. SUPERB OPPORTUNITY FOR
INVESTORS. EPC: E

Auctioneer comments

This property is for sale by Traditional Auction. The buyer and seller must Exchange immediately, and Complete 28 days thereafter. Interested parties personal data will be shared with the Auctioneer (iamsold).

The buyer pays a non-refundable deposit of 10% of the purchase price upon exchange.

A Buyer Information Pack is provided. The winning bidder will pay £300.00 including VAT for this pack which you must view before bidding.

The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.

Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.

Material information

The information above has been provided by the vendor and may not be accurate. Please refer to the property’s Buyer Information Pack. (You can download this on the right hand side of the page) or speak to the Auction Specialist for the most up to date information.

Council Tax Band: Band A
Tenure: Leasehold
Remaining Lease Length: 55 year(s)
Current Ground Rent: £27.50 payable Quarterly
Ground Rent Review: We are still collating this information
Service Charge: £0.00 payable Annually
Service Charge Review: We are still collating this information
Shared Ownership: No

Map view

Fees & Charges Explained

Hamilton Avenue, HALESOWEN, B62 8SG

This property is sold unconditionally with the successful purchaser required to place a 10% non refundable deposit and exchange immediately after the auction.

A reservation fee of 4.50% to minimum of £6,600.00 including VAT is also required under this method.

A reservation fee is payable by the buyer only when the seller pays no fees to sell. As sellers pay no fees to sell, this is usually taken into account with a lower reserve price.

This property is being sold under the Traditional Method of Auction, which requires immediate Exchange Contracts and allows a further 28 days for Completion.

A non-refundable Reservation fee must be paid by the buyer within 2 hours following the conclusion of the auction or acceptance of an offer. This must be paid by cleared funds to the auctioneer who will issue an acknowledgement of reservation and purchase agreement in the 28 day period following the auction or the date of acceptance of the offer.

Bidder Security Deposit

Where the auction is ran online, as part of the bidder registration process, a bidder security deposit of £14,900.00 is required to be pre-authorised from the Bidder's debit or credit card, through the payment facilities on the website when registering to bid.

The pre-authorisation payment will only be captured from the successful bidder on acceptance of their bid.

Once a bid is accepted the Bidder Security Deposit will form part of the non-refundable payment deposit, reservation deposit or reservation fee (as applicable to the lot).

Any balance of the deposit, reservation deposit or reservation fee, must be paid by the successful bidder to iamsold within 2 hours of acceptance of their bid.

The outstanding balance can be paid by same day Bank Transfer to iamsold's client account, or over the phone by debit or credit card.

All unsuccessful bidders will have their pre-authorisations released 7 days from the initial authorisation refunded within 5 working days of conclusion of the auction or from when iamsold is provided with the correct bank account details for the return payment.

Buyer Information Pack

If the Buyer Information Pack has been produced and provided by iamsold any successful purchaser will be required to pay £300.00 (including VAT) towards the cost of the preparation of the pack. These can then be used by your solicitor to progress the sale.

Buyer Fees

There are no other fees or charges payable to the Auctioneer however, there are other costs to consider such as:

  • You will need a Solicitor to act for you during the conveyancing and your Solicitor will advise you in relation to the associated costs. If you do not have a Solicitor, we can recommend the services of one of our Panel Solicitors who are all selected for their expertise in Auction Transactions. Please call the number below for more information.
  • Stamp Duty Land Tax (SDLT) is applicable if you buy a property or land over a certain price in England, Wales or Northern Ireland. Please click here for more information.

Need More Information?

For further information or to speak to one of our team, please call 01615378744.

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Download the Buyer Information Pack

These Packs provide material Information to help you to make an informed decision before bidding. It may not include everything you need to know so make sure you do your own research too.

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Disclaimer

These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property.

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Bid to purchase

Enter your bid amount to see a full breakdown of any fees to pay before confirming your bid.

Last updated bid: £80,000
Setting your max. bid does not guarantee you will be the bidder at this level. For more information, please see our Guide to Automatic bidding.

What is automatic bidding?

Place an initial bid and set a level you are willing to bid up to. Should you be outbid,  the system will automatically place further bids on your behalf in increments which can be useful if you are unable to watch the auction end. For more information download our handy Guide to Automatic Bidding

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Starting Bid

The Guide Price or Starting Bid for each property shows the level at which the bidding will start. These amounts are for guidance only and are not the price that the property is being sold for. This amount may occasionally change during the marketing period. Each Guide Price or Starting Bid has a corresponding Reserve Price. Learn more in our FAQs section.

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