2 Bedrooms Semi-detached house for sale in New Town Road, Colchester CO1 | £ 160,000

Property Description

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% 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 are considered as part of the chargeable consideration for the property by hmrc and will 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 form 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 East Anglia Property Auction powered by iam Sold. The Reservation Fee is paid in addition to the final negotiated selling price.
Leaders are delighted to offer to the market this two double bedroom property with off road parking located in new town. The property offers two double bedrooms, lounge, dining room, kitchen and bathroom. This property has been rented and achieved a rental income of £700 pcm.

Yield Details (Colch)

This would make an ideal Investment property, our colleagues in the lettings office have indicated a rental value of 700 pcm, dependent on market conditions. This would give an approximate gross yield of 4.25%

Sales Disclaimer (Colch)

These particulars are believed to be correct and have been verified by or on behalf of the Vendor. However any interested party will satisfy themselves as to their accuracy and as to any other matter regarding the Property or its location or proximity to other features or facilities which is of specific importance to them. Distances and areas are only approximate and unless otherwise stated fixtures contents and fittings are not included in the sale. Prospective purchasers are always advised to commission a full inspection and structural survey of the Property before deciding to proceed with a purchase.

Lounge (3.35m x 3.66m)

Double glazed windows to front and side, carpet, radiator and wooden surround fireplace.

Dining Room (3.35m x 3.66m)

Double glazed window to front and rear, storage cupboard, carpet, wooden surround fireplace, door leading to kitchen

Kitchen (1.83m x 2.44m)

Double glazed window to front and rear, door leading to courtyard garden, overmount stainless steel sink, freestanding electric oven, extractor fan, wooden worktops

Bathroom (1.52m x 1.83m)

Suite comprising of panelled bath with mixer taps, low level wc, pedestal wash hand basin, tiled splashbacks

Bedroom One (3.66m x 3.53m)

Double glazed window to front and side, radiator, carpets, storage cupboard

Bedroom Two (3.48m x 3.66m)

Double glazed window to front and side, radiator, carpets, storage cupboard

Outside

Courtyard garden with one off road parking space and wooden shed

Property Location

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