Property Overview Two bed lower flat on Burn Terrace should be viewed to fully appreciate the accommodation on offer. Accommodation within briefly comprises entrance hallway, master bedroom, bedroom two, lounge, kitchen and family bathroom. There is a private yard to the rear elevation. Perfect property for an investor or first time buyer. EPC Grade D, Centrally located for all the surrounding amenities. The property benefits from great access to all the local public transport links including the Metro and commuter links to the A19 and A1058 Coast Road. 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 Hallway Master Bedroom 14' 0' x 18' 0' (4.27m x 5.49m ) Bedroom 2 12' 0' x 8' 1' (3.66m x 2.46m ) Lounge 16' 0' x 13' 0' (4.88m x 3.96m ) Kitchen 7' 3' x 9' 10' (2.21m x 3m ) Inner Lobby 7' 8' x 2' 0' (2.34m x .61m ) Bathroom 7' 1' x 5' 1' (2.16m x 1.55m ) Request full details for this property Please complete the form below to receive full details about the property you are looking at. Not in the UK? If you are not a resident of the United Kingdom, please contact our Auction Team to discuss your options. All fields marked with an * are required. Please be advised that all calls made to and from IAM Sold are recorded. Calls are recorded for training and monitoring purposes and may also be used for complaint resolution. Calls are stored securely in accordance with General Data Protection Regulation requirements. Personal information submitted via the request details form will not be shared, rented or otherwise abused. Your Move Local Branch: 5/7/9 High Street East, Tyne And Wear, NE28 8PA T: 0191 262 3961 E: firstname.lastname@example.org Head Office: Newcastle House, Albany Court, Newcastle-Upon-Tyne, NE46 7YB T: E: - Fees & Charges Explained 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. Buyer 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.