Location
Located at the bottom of West Looe Hill, the property is a stone’s throw from the amenities on West Looe Quay including a local deli, convenience store and The Jolly Sailor pub. A short distance away you will find further amenities in East Looe including independent shops, restaurants, cafes, public houses and many more. Within Looe you will also find a train station, which offers a connection service to the mainline meaning you can find yourself in London Paddington in around 4 hours!
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Exchange occurs at the end of the auction. This means that if the reserve is met or exceeded and the auction timer reaches zero, the successful bidder is legally obliged to pay the purchase price and the seller will be legally obliged to sell the property. To ensure that the successful bidder proceeds, the buyer is automatically charged a holding deposit, which is held in a secure client account, pursuant to the terms of a holding deposit agreement.
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This property is being sold by traditional online auction and a non refundable buyer fee of £6000 or 4.2% + VAT applies (in addition to the purchase price). If you are the successful bidder, you will be charged the amount of £6,000 + VAT (£7,200), which will be processed online, immediately at the end of the auction, only if you are the successful bidder. You must pay any outstanding amounts of the buyer fee immediately at the end of the auction.
Definition Of Guide Reserve Price
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An indication of the seller’s current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
The seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. Bids may be accepted by the system but the property will not sell if the bidding does not reach the reserve. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
Material Information
Tenure - Leasehold, 55 years remaining on lease,
Local Authority - Cornwall Council,
Council Tax Band – A.
Services - Mains electric & sewerage, mains gas boiler,
Parking provisions –No off street parking,
Restriction - due to length of lease property would not be suitable for mortgage purposes, cash buyers only,
