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" Sold for £117,000. Guide Price = £60,000+ **For Sale By Public Auction 26th June 2024 09:30 AM To inspect the legal documents for this property go to our website www.auctionhouselondon.co.uk to download the legal pack** A Vacant First Floor Two Bedroom Flat Tenure Leasehold. The property is held on a 99 year lease from 29th September 1947 (thus approximately 13 years unexpired). 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 Ashburton Park are within easy reach. Transport links are provided by Norwood junction overground station and rail station. Description The property comprises a first floor two bedroom flat situated within a purpose built block arranged over ground and two upper floors. Accommodation First Floor Reception Room Kitchen Two Bedrooms Bathroom Exterior The property benefits from communal gardens. 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. EPC Rating There are no internal viewings "