Going, going, sold. Chapels profiled ahead of April sales deadlines
Tue 05 Apr 2022
Shouler & Son is the estate agent instructed on two former chapels for sale via unconventional methods in order to meet end of April sales deadlines.
Both property instructions are major renovation projects and both are being sold with planning permission in place for conversion development for residential use.
The first property is on Chapel Hill, Woolsthorpe-by-Belvoir, Grantham and is being offered for sale, with a guide price of £220,000, via informal tender, with sealed bids to be lodged by noon on 29 April.
The second is on Chapel Street, Orston, Nottingham and is for sale via auction at the premises on 23 April. The reserve price remains undisclosed but there is a guide price range from £125,000 to £175,000.
According to Shouler & Son’s residential sales agents, properties put forward for sale via auction or sealed bids generally see the instructions requiring considerable renovation and refurbishment.
Candidate properties for sale via auction or informal tender tend to be ‘tired’ properties requiring major investment by the new owner.
Such properties tend to attract the attention of a mix of experienced property or building professionals who specialise in the field but also can see ambitious, less experienced buyers who are looking for a property challenge.
Properties in this category are usually advertised for a short period of time, with deadline days often just 21 days after their launch to market.
Potential buyers - whether seasoned or novice - are always advised by the selling agent to be prepared as far ahead of the sale deadline as possible.
The first action of any potential buyer is to register interest in the property with the selling agent.
Then the period ahead of the sale deadline should see the buyer’s finances in place, solicitors on standby to be instructed and, importantly, any surveys, searches and checks undertaken and completed on behalf of the potential buyer.
Unlike Private Treaty - the conventional method of selling by estate agents - once an offer is accepted via auction or informal tender, there is no opportunity for the buyer to pull out or try to reduce the price because of a poor survey.
Another difference to the mainstream house buying and selling process is that there is no VAT liability attached to the sales process.
In the majority of cases via these unconventional sales routes, there is a very specific timescale in which the seller expects the sale to progress and complete.
The seller does, however, retain the right to withdraw the property from sale at any point up to confirming the acceptance of the offer made.
For more information on the chapel property, Chapel Hill, Woolsthorpe-by-Belvoir, Grantham which is for sale by sealed bids by noon on 29 April, see shoulers.co.uk/properties/15345508/sales.
For more information on the chapel property, Chapel Street, Orston, Nottingham which is for sale by auction at the premises on 23 April, see shoulers.co.uk/properties/15237025/sales.
Viewing of either property is strictly by appointment through Shouler & Son. To arrange a viewing, contact Lorraine Underwood, residential sales, Shouler & Son, tel 01664 560181, l.underwood@shoulers.co.uk.