2 Bedroom, Detached Bungalow, 98 Northwood Lane, Newcastle-under-Lyme ST5 4BN

Overview

Hammer Price Homes are pleased to present for sale by online auction this 2 bedroom detached bungalow set in a large plot, located in the popular residential area of Newcastle-under-Lyme. The sale is strictly for cash buyers only (buyers who are not reliant on any form of finance).

Please be advised that this is a probate sale and the deeds to the property have been lost, the vendor (administrator to the estate) and their solicitor have made an application with Land Registry to register the property with possessory title, the purchase will not be able to complete until that registration is completed. Please see the other information section for more information including indicative timings.

Due to the nature of the sale and the general condition of the property, this sale is strictly for cash buyers only (buyers who are not reliant on any form of finance).

The property briefly comprises: To the ground floor, an entrance hallway leads to a lounge, kitchen, 2 bedrooms, bathroom and downstairs W.C. The property includes 2 attic rooms/storage rooms and single garage.

Externally the property sits in a large plot, with extensive gardens to the front and rear. Please refer to document titled ‘Location Plan and Property Extent’ for the full extent, which is available for download from the Hammer Price Homes website.

We have listed the property as a 2 bedroom bungalow, as it is assumed the attic spaces are not to current building regulations. The property may benefit from extension/reconfiguration subject to gaining the necessary planning consents and would suit those looking for a modernisation project, and those who are in a position to wait for completion.

Searches have been added to the auction listing and are available to download from the Hammer Price Homes website, excluding the Local Search, as the search is unavailable prior to bidding. As a result, the winning bidder will not be charged for the search pack at the close of the auction. But all searches, including the Local Search when it arrives, will be provided to the winning bidder during the conveyancing process for their usage if they wish.

To view the property please visit the Hammer Price Homes website, register as a buyer and book in for a viewing.

Location

This property is located within a popular residential area and is conveniently located close to both Newcastle-under-Lyme town centre, and Stoke City Centre, with access to a wide range of local amenities, shops, leisure facilities and cafes, bars and restaurants. The property benefits from good transport links, with access to junction 15 of the M6 and the A50.

Special Conditions

This sale is strictly for cash buyers only (buyers who are not reliant on any form of finance) as due to the lost deeds and general condition, the property is unmortgageable. There will be no grounds for the buyer to withdraw from the sale with a return of the reservation fee citing issues around the condition of the property (including anything of a structural nature), issues around financing the purchase, for anything to do with the possessory title registration or for anything concerning information in the searches provided prior to the start of the auction (excluding the Local Search, as the search is unavailable prior to bidding).

60 days to complete from receipt of the possessory title registration.

Other information

Tenure – Freehold

Possessory title registration – Please be advised that this is a probate sale and the deeds to the property have been lost, the vendor (administrator to the estate) and their solicitor have made an application with Land Registry to register the property with possessory title. Once a sale is agreed, the vendors will inform Land Registry and ask that they expedite the application. Once the property is registered in the deceased’s name with possessory title, then the sale can be completed with the new buyer.

In regard to timings, whilst we would hope it will happen sooner, the buyer should allow approximately 4 weeks (28 days) in order for the application of possessory title to be completed in the name of the deceased. Once the registered possessory title is received and sent to the buyer’s solicitor, then the buyer will then have 60 days to complete the purchase.

As there are no guarantees, should the possessory title application not be completed within 8 weeks (60 days) of the close of the auction, then the buyer will be able to withdraw from the sale with a return of the reservation fee, should they wish although extensions could potentially be agreed by both parties.

Online Auction Details

** Strictly for cash buyers only (buyers who are not reliant on any form of finance). 60 days to complete from property being registered with possessory title**

Auction ends – Thursday 21st March 2024 at 1pm (Subject to anti-sniping)

Bidding Window Opens – Tuesday 19th March 2024 at 10am (Bidding will not be possible until this time)

Starting price – £120,000 (Reserve price is higher & unpublished, typically the starting price will be 15 – 20% below the Reserve figure as per our Buyer Terms)

Fees

All fees are payable by bank transfer only (we do not take card payments).

Reservation Fee – Please note that there is a Reservation Fee (3.6% Inc. VAT) is payable by the buyer within 2 hours of 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.

Viewings

To view the property please visit the Hammer Price Homes website, register as a buyer and book in for a viewing. Bidding is only permitted for those who have viewed. Viewers must stick to their time precisely.

How to make an offer

Offers can only be made via the online auction in the form of a bid once the bidding window has opened. 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 at the winning auction price and the buyer honoured to pay it. Any subsequent attempt by the buyer to contact the vendor direct to renegotiate on price would hold the buyer in breach of our terms. 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 is a probate property and is sold as seen. The Administrator / Solicitor dealing with the estate has never lived at the property so may not be able to answer the usual pre-contract questions or provide a property information form.