1 bedroom flat for sale

Overview

Guide Price = £10,000+ **For Sale By Public Auction 21st May 2024 08:45 AM To inspect the legal documents for this property go to our website to download the legal pack** A Vacant Ground Floor One Bedroom Flat Tenure Leasehold. The property is held on a 60 year lease from 12th November 1964 (thus approximately 7 months unexpired). A section 42 notice to extend the lease has been served on the freeholder, the rights of which will be assigned to the incoming buyer. If the freeholder has not responded prior to the auction, the buyer should not assume that the freeholder will accept the sum offered. Buyers should rely on their own enquiries as to the likely costs of the lease extension. Location The property is situated on a residential road close to local shops and amenities. The open spaces of Leyton Jubilee Park are within easy reach. Transport links are provided by Leyton Midland Road overground station and Lea Bridge rail station. Description The property comprises a ground floor one bedroom flat situated within a mid terrace building arranged over ground and first floors. Accommodation Ground Floor Reception Room Kitchen Bedroom Bathroom Exterior The property benefits from a private rear garden. Note There may be potential for the property to be converted into a a two bedroom flat. Further Information When purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. In most cases, the leaseholder must have owned the property for at least 2 years in order to serve a S42 notice. If you do not fully understand this process, please ask the auctioneers or a solicitor. Viewing Appointments to be Confirmed For more details and to contact: https://realtyww.info/flats_leyton-d533597/for-sale_i71196856

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