10 X GARAGES FOR SALE, RARE INVESTMENT OPPORTUNITY
For sale by the modern method of auction, buyers fees apply – Starting bid of £230,000
Miles & Barr are pleased to present onto the market a fantastic investment opportunity to purchase 10 x garages with a long lease and in a sought after location of Whitstable Town. Garages in this area are very popular and are rare to come onto the market. All the garages are rented on a month to month basis, they all come with tenants. Rents in the area for a garage is ranging from £50.00 - £100.00 per calendar month.
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. This additional time allows buyers to proceed with mortgage finance. 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.