Freehold of 3 flats, one vacant
66 Ditchling Rise, Brighton BN1 4QPHousing association sale. One vacant flat to refurbish plus the freehold of two flats sold on roughly 87-year leases.
5 lots in Sussex this week, picked from the catalogues of the auction houses selling in the county. Brighton, Worthing, Hastings, Eastbourne, Crawley, Chichester, East and West.
Housing association sale. One vacant flat to refurbish plus the freehold of two flats sold on roughly 87-year leases.
Freehold, 431 sq m. Not safe to enter, so no internal viewings. Most mainstream lenders won't touch this; bridging will.
Freehold, around 3,029 sq ft with parking.
Freehold, around 164 sq m. Two units vacant; one let at £1,300 pcm with possession proceedings under way.
Around 113 sq m, both let (£1,100 + £1,200 pcm, tenants holding over).
When the hammer falls you exchange contracts on the spot, pay a 10% deposit, and usually have 28 days to complete. That is too tight for most mortgages, and lots that need work, have no kitchen, or carry a planning angle often are not mortgageable at all. That is why experienced auction buyers arrange auction bridging finance before they bid, not after.
Agreeing terms in principle before the sale means you walk in knowing your ceiling, you can bid with confidence against cash buyers, and you do not risk losing your deposit because a lender went quiet in week three. It costs nothing to get indicative terms and there is no credit search at that stage.
Updated every Monday. Lot details are summarised from the auctioneers' published catalogues; always read the legal pack.