Lake Bank Terrace, Wingate, TS285DH

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  • Overview
  • Particulars
  • Agent Details
  • Fees & Charges Explained

Property Overview

Ideal for a variety of buyers looking for a spacious detached home that they can update to their requirements, warmed by gas combi central heating, boasting double glazing, I have been informed by the vendor that the roof, double glazing and gas combi boiler were replace approx 9 years ago. Accommodation in brief comprises: entrance hallway, lounge having bay window to the front elevation, feature fireplace in mahogany separate dining room, kitchen fitted with cream/oak wall and base units, stairs to first floor, spacious bathroom fitted with three piece suite, three bedrooms. Externally lawn garden with tree borders to front elevation, whilst to the rear elevation yard garage, yard.

Starting Bid and Reserve Price

*Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the starting bid, both the starting bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction, which is powered by IAM Sold.

Auctioneer's Comments

This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the buyer to exchange contracts immediately; however, from the date the draft contract for sale is received by the Buyer's solicitor, the buyer has 56 DAYS in which to complete the transaction; whilst using every endeavour to exchange contracts within the first 28 days. Allowing the additional time to exchange contracts means interested parties can proceed with traditional residential finance. Upon close of a successful auction, or if the vendor accepts an offer during the auction, the buyer will be required to make payment of:

  • A non-refundable Reservation Fee of 4.2% of the final agreed sale price including VAT - this is subject to a minimum of £6,000.00 including VAT - which reserves the property from sale by securing the transaction and takes the property off the market. The Reservation Fee is paid in addition to the final negotiated selling price.
  • A non-refundable Buyer Information Pack fee of £200.00 including VAT towards the preparation cost of the pack, if the Buyer Information Pack has been produced and provided by IAM Sold. The Documents in the pack can then be used by your solicitor during the conveyancing stage of the purchase. It is recommended that you view the Buyer Information Pack before agreeing to your purchase.
Fees paid to the Auctioneer may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. Further clarification for this must be sought from your legal representative.The buyer will be required to sign a Reservation Agreement to confirm acceptance of the terms prior to solicitors being instructed. A sample copy of the Reservation Agreement and all terms and conditions can be found in the Buyer Information Pack, which can be downloaded from the auction section of our website, or requested from our Auction Department.Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the starting bid, both the starting bid and reserve price can be subject to change.Terms and conditions apply to the Modern Method of Auction, which is operated by the Great North Property Auction powered by IAM Sold.

Energy Performance Certificate (EPCs)

Energy Performance Certificates (EPCs) give information on how to make your home more energy efficient and reduce your energy costs. All homes bought, sold or rented require an EPC. EPCs carry ratings that compare the current energy efficiency and estimated costs of energy use with potential figures that your home could achieve. Potential figures are calculated by estimating what the energy efficiency and energy costs could be if energy saving measures were put in place. The rating measures the energy efficiency of your home using a grade from ‘A’ to ‘G’. An ‘A’ rating is the most efficient, while ‘G’ is the least efficient. The average efficiency grade to date is ‘D’. All homes are measured using the same calculations, so you can compare the energy efficiency of different properties.

Property Particulars

ENTRANCE Double glazed entrance door leading to hallway with ornate cornice, half glazed door HALLWAY Double radiator, white spindle staircase leading to first floor, doors leading to lounge and dining room LOUNGE 15' 09'' x 14' 00'' Double glazed bay window, dado rail, original cornice, ceiling rose, feature Mahogany fire place, double radiator and TV point. DINING ROOM 14' 01'' x 11' 01'' Double glazed window to rear elevation, telephone point, plate roll double radiator, built in storage with glass door front, feature Mahogany fire surround with marble effect insert and hearth housing coal effect gas fire and door to kitchen. KITCHEN 12' 06'' x 10' 00'' Double glazed window to rear elevation, range of wall and base units in cream leatherette with Oak trim, Oak work surfaces stainless steel sink unit with mixer tap, radiator, vinyl wood effect flooring, door to storage cupboard, additional understairs storage cupboard and double glazed door to rear BATHROOM 12' 02'' x 7' 10'' Double glazed window to rear, double radiator, loft access, storage cupboard housing Valiant gas boiler, additional storage cupboard, three piece suite in Champaign colour, low level W.C, pedestal wash hand basin with duel taps, panelled bath with mixer tap, electric shower over bath, shower curtain and part tiled walls in white ceramic tile. FIRST FLOOR - Landing Spacious Landing with loft access. BEDROOM ONE 14' 04'' x 10' 01'' Double glazed window to front elevation, double radiator, cream fire surround housing cast iron open fire and lovely rural views BEDROOM TWO 14' 05'' x 10' 02'' Double glazed window to rear elevation, double radiator, feature fire place in mahogany with cast iron fire surround and storage cupboard BEDROOM THREE 11' 02'' x 6' 01'' Window with rural views EXTERIOR To the front of the property there is a wall enclosed lawn garden with mature shrubs and conifers to the rear there is a yard, with two outbuildings and garage with wood doors

Dowen Estate Agency

Head Office: 6 Jubilee House, Hartlepool, TS26 9EN

Fees & Charges Explained

Lake Bank Terrace, Wingate, TS285DH

This property is sold subject to payment of a non-refundable reservation fee of 4.2% to a minimum of £6,000.00 including VAT.

Any successful purchaser will pay this to secure the sale. The reservation fee is in addition to the purchase price. Please take this into account when bidding.

A reservation fee is payable by the buyer only when the seller pays no fees to sell. As sellers pay no fees to sell, this is usually taken into account with a lower reserve price.

This property is being sold under the Modern Method of Auction, which requires the completion of the purchase to be within 56 days, although all reasonable endeavours must be made to exchange contracts within 28 days following the Draft Contract being received by the Buyer's Solicitor.

A non-refundable Reservation fee must be paid by the buyer within 2 hours following the conclusion of the auction or acceptance of an offer. This must be paid by cleared funds to the auctioneer who will issue an acknowledgement of reservation and purchase agreement In the 28 day period following the auction or the date of acceptance of the offer.

Buyers Information Pack

If the Buyer Information Pack has been produced and provided by IAM Sold any successful purchaser will be required to pay £200.00 (including VAT) towards the cost of the preparation of the pack. These can then be used by your solicitor to progress the sale.

Buyer Fees

There are no other fees or charges payable to the Auctioneer however, there are other costs to consider such as:

  • You will need a Solicitor to act for you during the conveyancing and your Solicitor will advise you in relation to the associated costs. If you do not have a Solicitor, we can recommend the services of one of our Panel Solicitors who are all selected for their expertise in Auction Transactions. Please call the number below for more information.
  • Stamp Duty Land Tax (SDLT) is applicable if you buy a property or land over a certain price in England, Wales or Northern Ireland. Please click here for more information.

Need More Information?

For further information or to speak to one of our team, please call 0191 239 0802.


These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property.

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