A Ground Floor Two Bedroom Flat Offered with Vacant Possession

Description

A Ground Floor Two Bedroom Flat Offered with Vacant Possession The property comprises a ground floor two bedroom flat situated within a end of terrace building arranged over ground and two upper floors. Tenure: Leasehold. The property is held on a 99 year lease from 29th September 1976 (thus approximately 51 years unexpired). At the buyer's request and costs a section 42 notice to extend the lease will be served prior to completion, the rights of which would be assigned to the incoming buyer. Location: The property is situated on a residential road close to local shops and amenities. The open spaces of Northwick Park are within easy reach. Transport links are provided by North Wembley underground station (Bakerloo line) and rail station. Accommodation: Ground Floor Reception Room Kitchen Two Bedrooms Bathroom Exterior: The property benefits from a private rear garden Further Information: When purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. In most cases, the leaseholder must have owned the property for at least 2 years in order to serve a S42 notice. If you do not fully understand this process, please ask the auctioneers or a solicitor.