Institute Terrace, Bishop Auckland, DL147RX

Sale Price: £36,500.00

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  • Overview
  • Particulars
  • Agent Details
  • Fees & Charges Explained

Property Overview

We are pleased to offer for sale this cosy 2 bedroom mid terrace property situated on this quiet street in Toronto. The property is neat and tidy throughout and has a superb extensive garden to the front along with a deceptively spacious floorplan that briefly comprises:- Entrance into Lounge, good size separate Dining Room and Kitchen with base and wall units whilst to the first floor there are 2 spacious Bedrooms plus Family Bathroom. Externally to the front of the property there is an extensive fence and hedge enclosed mainly laid to lawn garden planted with trees and shrubs whilst to the rear of the property there is a wall enclosed yard. In summary an ideal starter home for the first time buyer.

Starting Bid and Reserve Price

*Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the starting bid, both the starting bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction, which is powered by IAM Sold.

Auctioneer's Comments

This property is for sale 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. We do not require the purchaser to exchange contracts immediately, however from the date the Draft Contract is received by the buyers solicitor, the buyer is given 56 days in which to complete the transaction, with the aim being to exchange contracts within the first 28 days. Allowing the additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to make payment of a non-refundable Reservation Fee of 4.2% to a minimum of £6,000.00 including VAT 4.2% of the final agreed sale price including VAT. This is subject to a minimum payment of £6,000.00 including VAT. which secures the transaction and takes the property off the market. Fees paid to the Auctioneer may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. Further clarification on this must be sought from your legal representative. The buyer will be required to sign an Acknowledgement of Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation from and all terms and conditions can be found in the Buyer Information Pack which can be downloaded for free from the auction section of our website or requested from our Auction Department. Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the Starting Bid, both the Starting Bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction, which is operated by Great North Property Auction powered by IAM Sold. Reservation Fee is in addition to the final negotiated selling price.

Energy Performance Certificate (EPCs)

Energy Performance Certificates (EPCs) give information on how to make your home more energy efficient and reduce your energy costs. All homes bought, sold or rented require an EPC. EPCs carry ratings that compare the current energy efficiency and estimated costs of energy use with potential figures that your home could achieve. Potential figures are calculated by estimating what the energy efficiency and energy costs could be if energy saving measures were put in place. The rating measures the energy efficiency of your home using a grade from ‘A’ to ‘G’. An ‘A’ rating is the most efficient, while ‘G’ is the least efficient. The average efficiency grade to date is ‘D’. All homes are measured using the same calculations, so you can compare the energy efficiency of different properties.

Property Particulars

Entrance Via upvc framed double glazed door. Lounge 13' 08'' x 11' 00'' Upvc framed double glazed window, radiator, feature coal effect fireplace with marble inset and wood surround. Dining Room 13' 08'' x 12' 05'' Upvc framed double glazed window, radiator, gas fire, stairs to first floor. Kitchen 10' 00'' x 7' 01'' Fitted with a range of base and wall units finished in white, heat resistant worktops, stainless steel sink unit with mixer tap, integrated oven with gas hob and extractor, upvc framed double glazed window, radiator, tiling to splashbacks, lino flooring, door accessing the rear yard, plumbing for automatic washing machine, space for fridge freezer. Landing Bathroom Fitted with a 3 piece coloured suite:- panel bath, pedestal handwash basin, low level WC, double glazed window, radiator, tiling to splashbacks, extractor. Master Bedroom 12' 07'' x 10' 09'' Upvc framed double glazed window, radiator, built in storage cupboard, loft access. Bedroom 2 12' 00'' x 10' 08'' Upvc framed double glazed window, radiator, built in storage cupboards. Externally To the front of the property there is an extensive fence and hedge enclosed mainly laid to lawn garden planted with trees and shrubs. To the rear of the property there is a wall enclosed yard.

Dowen Estate Agency

Local Branch: 119 Newgate Street, Bishop Auckland, DL14 7EN
Head Office: 6 Jubilee House, Hartlepool, TS26 9EN

Fees & Charges Explained

Institute Terrace, Bishop Auckland, DL147RX

This property is sold subject to payment of a non-refundable reservation fee of 4.2% to a minimum of £6,000.00 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 to be within 56 days, although all reasonable endeavours must be made to exchange contracts within 28 days following the Draft Contract 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 28 day period following the auction or the date of acceptance of the offer.

Buyers Information Pack

If the Buyer Information Pack has been produced and provided by IAM Sold any successful purchaser will be required to pay £200.00 (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 0191 239 0802.

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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