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£120,000 Guide Price
Bedrooms
Bathrooms
''FOR SALE BY MODERN METHOD OF AUCTION'' A 2 bedroom first floor apartment in a popular North Leeds suburb, benefiting form good access to nearby ring roads, shops and services the property makes an ideal first purchase, investment or downsizing opportunity No Chain
''FOR SALE BY MODERN METHOD OF AUCTION'' A 2 Bedroom First Floor Apartment with its own Private Entrance in Adel, North Leeds.
Situated in the highly sought-after district of Adel, North Leeds, this charming two-bedroom first floor apartment offers a fantastic opportunity for first-time buyers, downsizers, or investors. Set within a well-maintained development of similar properties, the apartment is conveniently located near local ring roads and bus routes, ensuring easy access to Leeds city centre and beyond. Adel itself is a popular area, known for its excellent selection of shops, restaurants, and parks, making this an ideal location for modern living.
The apartment benefits from its own private entrance, with a few steps leading up to the door. Upon entering, youll find stairs rising to the first floor accommodation.
The first floor landing provides access to all rooms, with a spacious feel and neutral decor throughout.
The kitchen is equipped with modern wall and base units, offering ample storage and workspace. The kitchen features a 1 bowl sink, integrated fridge, oven, hob, and combi boiler. There is also space for additional white goods, and the room is finished with tiled splashbacks and double-glazed windows to the rear and side, providing plenty of natural light.
The lounge is a generous and inviting space, with a large UPVC double-glazed bay window to the front that fills the room with light. A feature fireplace with a living flame gas fire, tiled hearth, and wooden surround adds character to the space. An opening from the lounge leads into an additional reception area, with a double-glazed window to the front. This versatile room can be used as an office, dining room, or even converted back into a third bedroom if required.
The main bedroom is a comfortable, with a range of fitted drawers and wardrobe units, along with a useful storage cupboard. A double-glazed window to the rear offers views over the communal gardens.
The second bedroom is a good-sized room with a double-glazed window to the front, making it ideal for guests, children, or as a home office.
The bathroom is appointed with a panelled bath and shower over, a WC, and a wash hand basin. Tiled floors and walls add to the modern feel, and a double-glazed window to the rear.
Outside, the apartment benefits from communal gardens to both the front and rear of the property. The front garden is laid to lawn with mature shrubs and low brick walls, while the rear garden offers a larger, well-maintained lawn area surrounded by mature plants and trees. On-street parking is available to the front of the property.
Offered with no onward chain, this property has been successfully let for many years and represents an ideal investment opportunity, a perfect first-time purchase, or a great choice for those looking to downsize.
In summary, this well-located, low-maintenance apartment offers spacious accommodation, a private entrance, and a lovely setting within one of North Leeds most desirable neighbourhoods. Viewing is highly recommended!
MATERIAL INFORMATION:
TENURE
Leasehold for a term of 215 years from 25/03/1976
SERVICE CHARGE
We understand the service charge to be 350 per anum.
GROUND RENT
Our seller advises the ground rent to 0 per annum.
SERVICES
The property has mains gas, electricity, water and drainage/sewerage, which were connected and working at the time of our inspection.
BROADBAND/MOBILE SIGNAL & COVERAGE
BROADBAND is available in this area / MOBILE SIGNAL & COVERAGE is available in this area.
FLOOD RISK & PLANNING PERMISSION
FLOOD RISK not known to be an issue / PLANNING PERMISSION none in the immediate area.
COUNCIL TAX BAND B
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. 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 4.5% of the purchase price including VAT, subject to a minimum of 6,600.00 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.
REFERRAL ARRANGEMENTS The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended, as it is believed they will be of benefit, you are under no obligation to use any of these services and you should always consider your options before services are accepted. Where services are accepted, the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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