Pre-auction Marketing
  • Modern Method
  • Leasehold
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2 bed Apartment

Patshull Avenue, WOLVERHAMPTON, West Midlands, WV10 6RL

  • 2 bedrooms
  • 0 bathrooms
  • 0 receptions
  • Starting bid: £102,000

Concentric Sales & lettings - Wolverhampton : 01902 421405

40 Chapel Ash

Property overview

Concentric Sales & Lettings are delighted to present a unique chance to secure a high-yield investment with an immediate rental income. Situated in the sought-after Oxley area of Wolverhampton, this two-bedroom apartment is currently tenanted, generating a steady rental income of £650 per month. Perfect for investors looking for a seamless landlord-to-landlord transition!

The property offers spacious living with thoughtful design throughout, including generous inbuilt storage and the convenience of allocated parking. Upon entering, you're greeted by a well-lit hallway that leads to two comfortable bedrooms and family bathroom. The open-plan kitchen and lounge area create a welcoming space, with the added luxury of a Juliet balcony off both the master bedroom and lounge, accessible via elegant French doors.

This low-maintenance property is ideal for investors seeking a ready-made addition to their portfolio, with a reliable rental history and great potential for future appreciation in a growing rental market. Don't miss this hassle-free investment opportunity in a thriving area.

Auctioneer comments

This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).

If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.

A Buyer Information Pack is provided. The winning bidder will pay £349.00 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: 981 year(s)
Current Ground Rent: £1.00 payable Annually
Ground Rent Review: We are still collating this information
Service Charge: £1,466.00 payable Annually
Service Charge Review: We are still collating this information
Shared Ownership: No

Map view

Fees & Charges Explained

Patshull Avenue, WOLVERHAMPTON, WV10 6RL

This property is sold subject to payment of a non-refundable reservation fee of 4.50% to a minimum of £6,600.00 including VAT.

Any successful purchaser will pay this to secure the sale. The reservation fee is in addition to the purchase price. Please take this into account when bidding.

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 Modern Method of Auction, which requires the Completion of the purchase within 56 days, although all reasonable endeavours must be made to Exchange Contracts within immediately following the Draft Contracts being received by the Buyer's Solicitor

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 56 day period following the auction or the date of acceptance of the offer.

Buyer Information Pack

If the Buyer Information Pack has been produced and provided by iamsold any successful purchaser will be required to pay £349.00 (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 01242501619.

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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: £102,000
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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