20 MARLBROOK CLOSE, SOLIHULL, B92 8LP START PRICE 75,000 ENDS ON WEDNESDAY, 28 MAR 2018 AT 1:25 PM

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1 20 MARLBROOK CLOSE, SOLIHULL, B92 8LP SELLER: HAMMER PRICE HOMES START PRICE 75,000 ENDS ON WEDNESDAY, 28 MAR 2018 AT 1:25 PM Description Number of floors: 1 Bedrooms: 2 Bathrooms: 1 Parking: On Street Outside space: Front Garden, Rear Garden House Type: Tenure: Energy Performance Details: Leasehold VIEW EPC Special Conditions The Property has a short lease (41 Years left) and is therefore open to CASH BUYERS ONLY. As at Jan 1st 2018 the Lease Extension cost was quoted as 21,185 to extend the lease by an additional 90 years This is subject to increase though if completing within 90 days this should be no more than 500-5,000. There will be legal costs in addition to the normal conveyancing cost for the buyer payable to the Vendor solicitor if they serve the Section 42 notice. Circa Plus VAT. 1

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4 DESCRIPTION 2 Bedroom Maisonette, 20 Marlbrook Close, Solihull, B92 8LP Overview Hammer Price Homes are delighted to present for sale by online auction this vacant & chain free, 2 bedroom first floor maisonette in Solihull. The property has a short Lease and is therefore open to cash buyers only. The accommodation is arranged as follows: Private entrance door and central hallway leading to a light and spacious lounge, kitchen, combined Bathroom/W.C and 2 bedrooms. The property s winning feature is the pleasant balcony overlooking the rear garden which can be accessed through the large patio doors in the lounge. The accommodation is set back from the road with a garden and path leading to the front door. There is a spacious garden to the rear. The property requires does require some modernisation. Lease extension costs have been ascertained from the Freeholder and as at January 1st 2018 these were 21,185, extending the lease by a further 90 years with a peppercorn annual rent payable to the Freeholder. The extension cost can increase with the passage of time though it is unlikely that it would increase more than 500 5,000 during the additional time that passes between now and completion. The vendor s solicitor would be happy to serve the section 42 notice and also draft the section 42 rider passing the rights to extend across the buyer of the property at costs of 350 plus VAT and 250 plus VAT respectively. Please only bid on the basis that this is a short lease property and on the understanding that you have a strict 90 days to complete. The responsibility of the lease extension does rest with the buyer and the figures quoted above are provided in good faith and are to help prospective buyers evaluate this property as a potential investment but Hammer Price Homes take no responsibility for any changes that the freeholder may make to the figures quoted. Location The maisonette enjoys a pleasant location on a well presented residential Close. A range of desirable amenities are in the close vicinity and Solihull town centre is a short car or bus journey away. Here you can find the Touchwood Shopping Centre, providing excellent high street shopping and popular restaurants. Birmingham International Airport and Railway Station can be reached in 15 minutes and motorway links are easily accessible. This is an unregistered property, please click the land registry icon above to view details of the lease document. Auction Details ** Open to Mortgage buyers also. 90 Days to complete and no deposit payable** Please note that there is a Reservation fee (2.4% Inc. VAT subject to a minimum of 2,400 Inc. VAT) payable by the buyer on winning the auction. The reservation fee does not constitute part of the sale price, this is the auctioneer s fee and is to be paid over & above the sale price paid to the Vendor. To view the property you must register and book on one of the open days as detailed on the website. (Please note: Entrance will be refused if you are not on the list so please make sure you book your place using the online system. Lists close 24 hours before the open day starts so book in plenty of time.) Auction ends Wednesday 28th March at 1pm (please read anti-sniping rules which may extend the auction) Bidding Window Opens Monday 26th March 2018 Starting price 75,000 (Reserve price is higher & unpublished) 4

5 DESCRIPTION Other Information Tenure Leasehold (41 years remaining) Unregistered The annual rent is 10 and there are no maintenance/service charges. How to make an offer Offers can only be made via the online auction in the form of a bid. No offers will be accepted outside of the auction process. Once a sale has been agreed (STC) and a price agreed then no further price negotiation will take place. This sale price is fixed and the buyer honoured to pay it. Should the buyer withdraw then they may have to forfeit the reservation fee. Please read the buyer terms and FAQ s on the site for more details. This property is being sold as part of a deceased estate with vacant possession and is sold as seen. The administrator and solicitor to the estate have never lived there and may not be able to answer the usual pre-contract questions. 5

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7 PROPERTY ON MAP 20 Marlbrook Close, Solihull, B92 8LP (ended) Open Days Open day lists close 24 hours before they start. SATURDAY-10/03/2018 TUESDAY-20/03/