Tenure
Knowing the tenure of the property is important because it affects your rights to use the property and the costs of ownership.
Freehold means you’ll own the property and the land it's built on. You'll usually be responsible for the maintenance of the property and have more freedom to alter it.
For flats and maisonettes, the freehold is sometimes shared with other properties in the same building. This is known as a share of freehold.
Leasehold means you'll have the right to live in the home for a set amount of years (specified in the lease). The landlord (the freeholder) owns the land, and if the lease runs out, ownership of the property will go back to them. Lease lengths that are less than 80 years tend to be more complicated and can cause issues with mortgage lenders.
You can extend a lease but this can be expensive. If you'd like to make changes to the property, you'll likely need the landlord’s permission. You're also likely to have to pay an annual amount for ground rent and services charges which can be subject to change. It is good practice to check additional leasehold costs that will apply to the property and factor this into your budget considerations.
Shared ownership is a form of leasehold in which you buy a percentage of the property and pay rent on the share you do not own. You may be able to buy the remaining share at an extra cost. When you wish to sell the property, you may need permission to do so.
Commonhold is a type of freehold ownership for a property that's within a development. A commonhold or residents’ association owns and manages the common parts of the property (like stairs and hallways). You'll need to join the commonhold association and contribute towards maintaining the development. It is good practice to check additional costs that will apply to the property and factor this into your budget considerations.
- Terraced houses
Features and description
- Leasehold
- For Sale by Modern Auction T & c's apply
- Subject to Reserve Price
- Buyers fees apply
- The Modern Method of Auction
- Spacious 3 bedroom end of terrace
- Attractively presented
- Generous plot which includes scope for off road parking
- Attractive gardens to the side and rear
- Popular area
- Close to excellent local amenities
- Short walk to Graves Park
- Within the catchment area for well respected local schools
- Available with no chain
- Viewing highly advised
A fantastic and rare opportunity has arisen to purchase this spacious 3 bedroom end of terrace which enjoys a generous plot consisting of an attractive side garden which provides excellent scope to use as off road parking or to extend (subject to the necessary consents) as well as an attractive private rear garden backing on to fields. The property is well presented throughout and benefits from gas central heating fired via a combination boiler and is UPVC double glazed. Must be viewed to be fully appreciated! Available with the added advantage of no upward chain.
The property enjoys an enviable position on this quiet road within this popular residential area which is well served by excellent local amenities on Chesterfield Road, as well as being only a short walk from Graves Park and within the catchment area for well respected local schools. The Peak National Park is also only a 10 minute drive away.
The accommodation in brief comprises: Entrance hall with stairs leading to the first floor, lounge with large front facing window which provides ample natural light, dining room with window overlooking the rear garden internal door giving access down to the cellar and glazed double doors opening in to the kitchen, kitchen with a good range of fitted units and views over the rear garden.
To the first floor is a large double bedroom with fitted wardrobes, there are 2 further spacious single bedrooms and a bathroom.
Exterior, to the side of the property is a sizeable patio area which could be utilised as car hardstanding if desired. To the rear of the property is an attractive lawned garden with paved patio which enjoys a good degree of privacy and backs on to a field which has a number of mature trees and provides an attractive backdrop.
Auctioneer Comments
This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited.
This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor (for standard Grade 1 properties). This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.2% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.
This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation
Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300 including VAT towards the preparation cost of the pack, where it has been provided by iamsold.
The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.
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